Fundamentals of Inventory Management

Course Summary


print this page

Course Outline

The course will introduce the scientific study of inventory theory and inventory management. It will present the bull-whip effect as an example of discrete independent decisions by organisations along a supply chain. Students will develop an awareness of the software packages available to manage inventory.

Course Objectives:

  1. Introduction to inventory theory
  2. EOQ model and derivation
  3. Alternative ordering models with known and random demand
  4. MRP2 systems and inventory record accuracy
  5. Safety stock and customer service
  6. JIT – push versus pull systems
  7. Cycle counting and inventory record accuracy
  8. Evaluation of inventory management software systems

Learning Outcomes

On completion students will be able to derive the EOQ formula, assess requirements for inventory software packages, cycle counting and inventory record accuracy. They will also understand MRP2 requirements.


1 Day in Melbourne

Delivery Mode



Students need to have completed a course in introductory logistics and statistics.


On Application

Commencement Dates

 On application


Course Contact:

Dr. David Wilson
+61 419 374 776