Inventory analytics is the corner stone of supply chain analytics. A company in trade industries may have 30-50% of their assets tied up in inventory. An effective inventory management can improve revenue by increasing product variety and availability, and reduce cost and speed up cash cycle by reducing excessive inventory and waste.
Through real-life examples (e.g., Macy’s vs. Ross Stores), you will learn hands-on tools and skills to discover and solve inventory problems by data analytics. Upon completion, you can answer the following questions:
1. For which industries is inventory important and relevant?
2. How may inventory drive a company’s financial performance?
3. How do I know that I have an inventory problem?
4. How to classify inventory and manage it accordingly?
Note: This course is for beginners and practitioners, and so it provides practical data-driven analytics for business inventory management, including inventory metrics, inventory problem diagnosis, the financial impact of inventory, and practical techniques of inventory management, rather than the mathematical models of inventory control that you can find in many other courses.