9 Best Inventory Management Courses, Certifications & Classes Online To Take In 2023
Elevate your inventory management skills and boost your career prospects in 2023 with our curated list of the top 9 best inventory management courses, certifications, and classes available online, designed to cater to a variety of learning needs and benefit both beginners and seasoned professionals.
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In a competitive business landscape, mastering inventory management is crucial for maintaining efficiency, reducing costs, and ensuring customer satisfaction. As you embark on your journey to enhance your skills, finding the perfect course from a vast array of options might seem like a daunting task. Fortunately, we have painstakingly researched 166 popular inventory management courses from different providers, covering 1,707,896 enrolled students who left 47,443 ratings and reviews. Ensuring a comprehensive and valuable learning experience, we have evaluated and handpicked the top 9 courses based on the ratings, reviews, enrollments, learners' feedback, course content, curriculum, release date, and affordability, all combined with our experiences and expertise.
From mastering essential inventory management techniques to optimizing your processes using analytics and software, these top courses offer a rich and engaging learning experience for a wide range of learners. Whether you are a beginner just starting out in inventory management or an experienced professional looking to sharpen your skills, you can trust that our well-rounded selection of courses will cater to your diverse learning needs, positioning you for a fruitful career in inventory management and the broader supply chain industry.
Effective inventory management is crucial for businesses to optimize their operations, minimize costs, and ultimately achieve success. The Inventory Management Foundations course provides an in-depth understanding of various types of inventories, their associated costs, and the importance of inventory control. The course, led by experienced instructor Steven Brown, covers a comprehensive range of topics including reasons for holding inventory, production inventory, finished goods inventory, and service inventory, ensuring that learners are well-equipped to manage inventory in diverse industries.
One of the key aspects of successful inventory management is adopting the right control systems and tools. Through this course, participants will gain valuable insights into various inventory management methods, as well as analytical tools that can improve their inventory control efforts. These tools and methods, combined with the expert guidance of Steven Brown, can empower learners to achieve better inventory management, resulting in cost reduction, higher efficiency, and overall business success.
User review:
The Inventory Management Foundations learning module is informative and a great introduction into Inventory Management for anyone interested in a career in the industry.
There were plenty of great, briefly covered topics for implementing effective inventory management, and establishes a starting point for users interested in learning more, such as the Pareto principle, or the different types of inventory models.
Even as someone with structured education in this topic, I found the course useful as a reminder of key principles and strategies to consider when working within the logistics field.
If you're looking to enter Logistics or Supply Chain Management, this is a good module to begin your pathway. [1]... Read More
Aaron G.
Best for:
This course focuses on providing a thorough understanding of inventory management principles while teaching how to implement efficient inventory control strategies and use analytical tools to optimize operations and reduce costs.
In the Lean Inventory Management course, participants will learn the essential lean principles that can help transform their organization's inventory management processes. The instructor, Steven Brown, begins by explaining the significance of inventory within the context of lean's seven wastes and offers guidance on how to forecast inventory using lean methodologies. Through the exploration of lean tools such as 5S and Kanban, participants will gain insights into effective inventory management strategies that facilitate timely product delivery while maintaining exceptional quality.
Focusing on practical applications, the course also covers lean tactics designed to manage supplier inventories and inventory buffers, as well as driving continuous improvement in the organization. By instilling the lean inventory management mindset as a core component of company culture, participants can expect to see significant reductions in waste, measurable enhancements in their business processes, and improved overall effectiveness in managing inventory. This comprehensive course offers valuable tools and techniques necessary for any professional aiming to optimize their organization's inventory management practices through the implementation of lean principles.
User review:
I understood every part of the module. Mr. Steven Brown has explained very beautifully each and every aspect of lean inventory management. As a beginner, this is a perfect course to start with.
This allowed me to understand the basic principles which I can apply to the daily work process and help my fellow people too. By training and teaching about the lean processes. Poka-yoke is very much seen and the 3 waste; MUDA, MURA, and MURI. These will highly help at lower level also to stand-out exceptionally. [2]... Read More
Simerjot Singh Bhalla
Best for:
This course is ideal for those who want to gain knowledge and understanding of the basic principles of inventory management and implement lean inventory management techniques for efficient inventory control. It also focuses on practical applications, covering lean tactics designed to manage supplier inventories and inventory buffers, driving continuous improvement in the organization.
Excel Supply Chain Analysis: Solving Inventory Problems is a comprehensive course designed to teach students how to use Excel in order to conceptualize, set up, and solve inventory management issues, with the end goal of minimizing purchasing costs and reducing the risk and costs associated with stockouts. Excel expert Curt Frye is the course instructor, and he takes students through the process of analyzing inventory costs, as well as developing effective inventory policies within a supply chain. This includes learning how to calculate total costs and total relevant costs for a product, as well as understanding the effects of lead time on analysis and determining the additional costs of minimum orders.
The course also covers essential topics such as evaluating quantity discounts, calculating production quantities to maximize profits, and understanding how back orders affect inventory policies. Students will also explore how to calculate the economic order quantity for inventory policies that allow back orders, and they will be introduced to the complexities of goods with limited lifespans, often referred to as the newsvendor problem. By the end of this course, learners will be able to generate the data and summaries required to solve a newsvendor problem, calculate the base stock level for a target level of service, and determine a reorder point based on cycle service level performance. Ultimately, this course is designed to equip students with the knowledge and skills necessary to expertly navigate any inventory-related challenges they may encounter in their professional careers.
User review:
Yes, I would recommend it to other people active in the supply chain, but maybe not so directly involved in this side of the cost. It helps to explain the dynamics and calculations.[3]... Read More
William Stassen
Best for:
This course is ideal for individuals looking to gain expertise in using Excel for efficient inventory control by mastering various calculation and analysis techniques to minimize purchasing costs and managing stockouts effectively.
Focused on inventory management, this course covers a range of important topics, such as inventory valuation methods, stock calculations, and the usage of Microsoft Excel and TALLY ERP9 in managing inventory processes. Mastering these essential skills and techniques can help individuals and businesses streamline their operations, optimize supply chains, and implement effective inventory management strategies. The course is designed with both beginners and professionals in mind and aims to deliver practical, real-world examples alongside theoretical knowledge to enhance understanding and applicability of the concepts taught.
Throughout the course, participants will learn the basics of inventory, types of inventory, objectives for inventory management, and various inventory valuation methods, including First In First Out (FIFO), Last In First Out (LIFO), and Weighted Average Cost/Price. Furthermore, participants will develop expertise in creating and managing inventory tables, processing transactions, and analyzing reports using Microsoft Excel and TALLY ERP9. Taught by an experienced instructor and backed by a verifiable certificate upon completion, this course aims to equip participants with a comprehensive understanding of inventory management and its practical implementation in real-world scenarios.
User review:
So far so good
I am excited to get another certificate to add on CV
The excel worksheets are hard to keep up with, but If I am honest, I take a bit more time to process information and click well.[4]... Read More
Timothy Kumanga
Best for:
This course is ideal for individuals who want to gain a comprehensive understanding of inventory management techniques, particularly using Microsoft Excel and TALLY ERP9 software. With a focus on practical implementation and real-world examples, participants will learn how to optimize supply chains, improve business profitability, and enhance their professional skills in inventory management.
Inventory management plays a crucial role in supply chain analytics, as companies in trade industries often have 30-50% of their assets tied up in inventory. Effective inventory management can boost revenue by increasing product variety and availability, while also reducing costs and streamlining the cash cycle by minimizing excessive inventory and waste. Through real-life examples such as Amazon vs. Macy's, this course enables learners to acquire hands-on tools and skills necessary for identifying and addressing inventory issues using data analytics.
Upon completing the course, learners will be able to answer key questions related to inventory management, such as its importance in specific industries, how inventory can influence a company's financial performance, and how to identify and classify inventory problems. While the course is designed for beginners and primarily focuses on discovering inventory issues rather than solving them, it instills the understanding that identifying a problem and knowing the direction to take are equally important as finding a solution. Additionally, more advanced inventory solutions may be covered in future courses or expansions of this course, providing learners with further opportunities for growth and development in this field.
User review:
This course covers the essential aspects of Inventory Analytics for business requirements. How to diagnose the inventory problem by comparing various benchmarking and KPI(inventory turns, days) and also provides understanding on financial perspective of inventory problem. This is followed by explanation about how manage the inventory with concepts like ABC analysis, pareto chart and various approach to manage different type/class of items. [5]... Read More
Sudarshan B N
Best for:
This course is best for those looking to gain a comprehensive understanding of inventory management principles, learn how to implement lean techniques, and develop Excel skills for supply chain analysis. Students will learn to effectively manage and optimize inventory using analytics, ultimately improving business profitability and enhancing professional skills for better career opportunities.
Inventory management is a critical aspect of any successful business operation, regardless of the industry or sector. The Inventory Management A-Z: Supply Chain & Business Operations course offers a comprehensive introduction to inventory management, providing the knowledge, skills, and tools needed to optimize purchasing, logistics, EOQ, and safety stock. The course is designed for new or aspiring operations managers, procurement professionals, logistics supervisors, production planners, and business optimization analysts who want to elevate their understanding of inventory management and its impact on business operations.
The course covers a variety of essential techniques and calculation methods, such as Little's Law, Economic Order Quantity (EOQ), Price Break Model, ABC Analysis, performance metrics, and safety stock levels. These skills will enable participants to take control of their inventory management, effectively minimizing costs and risk while maximizing profitability, customer satisfaction, and delivery performance. By developing a solid grasp of inventory management, participants can confidently improve their business processes, systems, and teams, and pave the way for a rewarding and successful career in inventory management and supply chain operations.
User review:
Fantastic course! Laurence was engaging from the very first lecture. The examples used, his lively presentation style and goofy jokes make for an very entertaining watch, all the while covering a lot of content in detail.
I particularly enjoyed the examples about the Rolls Royce airplane jets and barrels of whiskey!
I will definitely be signing up for more of his courses. The content is clearly and concisely illustrated in a very engaging manner.
I could not recommend this course more highly! [6]... Read More
Daniel English
Best for:
This course is best for those who want to gain a comprehensive understanding of inventory management principles and techniques, learn to optimize purchasing, logistics, EOQ and safety stock, and improve their business processes, systems, and teams for a successful career in inventory management and supply chain operations.
The Master Course in Inventory Management and Inventory Control is designed to provide a comprehensive understanding of inventory management principles and best practices. With a focus on logistics management, supply chain, stocks management, warehouse management, and other vital aspects of inventory control, this course ensures that learners are equipped with the knowledge and skills necessary to effectively manage business inventories. Key concepts covered in the course include independent demand vs. dependent demand, and the importance of controlling inventory levels based on operational needs and financial resources. Learners will also explore inventory formulas, processes and techniques tailored for small businesses, best practices and advantages of inventory control, and methods relating to operations management and cost accounting.
This expert master's course caters to both beginners and experienced individuals in the field of inventory management. Participants will gain valuable insights into the crucial role played by the inventory management department in businesses, and will learn practical techniques to optimize inventory levels that meet the demand for end products without causing operational disruptions or financial strain. By the end of the course, learners will be well-versed in essential inventory management and inventory control concepts, which will significantly benefit their careers and contribute to the overall success of their organizations.
Best for:
This course is ideal for those seeking to gain advanced knowledge and skills in inventory management and control, including logistics, supply chain, and warehouse management, as well as practical techniques for optimizing inventory levels and improving business profitability.
This course on inventory management delves into the principles and techniques needed to achieve successful inventory control. Key topics covered include demand forecasting, replenishment strategies, safety stock calculations, and the balancing act between carrying costs and stock-out risks. By the end of the course, participants will be equipped with the knowledge and tools necessary to develop effective inventory management practices for their organization, ultimately enhancing operational efficiency and driving overall growth.
Best for:
This course excels in providing the knowledge and tools necessary for successful inventory control while balancing carrying costs and stock-out risks. Participants will learn demand forecasting, replenishment strategies, and safety stock calculations, ultimately enhancing operational efficiency and driving overall growth.
Efficient inventory management is crucial for businesses to minimize costs and prevent stockouts. This course focuses on optimizing your stock holding by teaching you how to calculate the ideal time and quantity for your purchase orders using Microsoft Excel. By creating a simple but effective tool in Excel, you can gain better control over your inventory levels without the need for expensive software, ultimately leading to improved supply chain performance and financial stability for your business.
Throughout this course, you will learn about the importance of setting a reorder point for your key SKUs, which can help you maintain ideal stock levels and minimize the impact of stockouts on your business. By carefully calculating reorder points, you can achieve a balance between having too much inventory, which can lead to increased costs and decreased financial flexibility, and too little inventory, which can result in lost sales and damaged customer relationships. Ultimately, mastering procurement calculation using Excel can significantly improve your inventory management and overall business performance.
User review:
This course is very helpful and informative, especially the excel tool which I will definitely use. I have some questions specific to my business and it would be useful if the instructor could help with some questions relating to adapting the tool to my needs if possible?[7]... Read More
Felix Maxi
Best for:
This course helps you master procurement calculation using Microsoft Excel, enabling you to minimize costs, prevent stockouts, and optimize your stock holding. Learn to set ideal reorder points for key SKUs, ensuring a balance between inventory costs and stock availability for improved supply chain performance and financial stability.
How to choose best Inventory management online course
Choosing the best inventory management course can significantly improve your professional skills and have a positive impact on your career opportunities. This learner's guide will help you identify the most suitable course for you by considering the following factors:
Look for a course that aligns with your specific intent, such as gaining basic knowledge of inventory management, mastering lean techniques, or developing Excel skills for supply chain analysis.
Ensure the course covers essential inventory management software, such as Microsoft Excel and TALLY ERP9, to enhance your practical skills.
Consider the scope of the course content - a comprehensive course covering supply chain and business operations may provide a broader understanding of inventory management.
Opt for courses that emphasize hands-on training and practical skills development, like procurement calculations using Excel, for more effective learning outcomes.
Finally, consider the reputation and reviews of the course provider to ensure that the learning experience is of high quality and meets your expectations.
By taking these factors into account, you can make an informed decision and find the right inventory management course that not only enhances your professional skills but also enables you to improve your business's profitability through effective inventory management strategies.
Conclusion
Taking the time to invest in your education and expand your skill set in inventory management is a step towards a more successful and lucrative career. From building a strong foundation to mastering more advanced techniques, these highly valuable courses will equip you with the knowledge, insights, and tools you need to excel in managing inventory and maximizing business profitability. Regardless of your current experience or proficiency in inventory management, these courses are designed to cater to various learning needs – from beginners to seasoned professionals looking to sharpen their expertise.
As you embark on your journey towards becoming an expert in inventory management, you will uncover the true potential of lean inventory management techniques, gain proficiency in using popular software like Microsoft Excel and TALLY ERP9, utilize inventory analytics to optimize your processes, and much more. Your newfound skills and comprehension of supply chain and business operations will undoubtedly open doors to an array of exciting and rewarding career opportunities. The commitment to learning and growing is yours to make – seize the opportunity to enhance your professional skills and thrive in an ever-competitive industry.
How much does an inventory management course cost?
The cost of an inventory management course can vary based on the platform and subscription model chosen. For example, on LinkedIn Learning, the course can be accessed with a subscription of $19.99/month (annually) or $39.99/month (monthly) after a 1-month free trial. Udemy courses offer one-time payments ranging from $14.99 to $15.99, while Coursera offers subscriptions starting at $33.25/month (annually) or $59/month (monthly) after a 7-day free trial.
How long do inventory management courses take?
The duration of inventory management courses can vary, ranging from short courses of 49 minutes to more comprehensive courses lasting up to 9 hours. The time required to complete a course depends on the content, depth, and the individual's learning pace.
Are there any specific prerequisites for enrolling in an inventory management course?
Prerequisites for inventory management courses can vary depending on the specific course and platform. Many courses are designed to be accessible to beginners, while others may require some prior knowledge or experience. It is important to review the course description and requirements before enrolling to ensure that you meet any necessary prerequisites.
