Get updates on Eligibility, Admission, Placements Fees Structure
Quick Facts
| Medium Of Instructions | Mode Of Learning | Mode Of Delivery |
|---|---|---|
| English | Self Study | Video and Text Based |
Course Overview
The onset of globalisation and liberalisation in the Indian economy has increased the amount of competition faced by Indian industries. To ensure continuous improvement, there must be a focus on inventory/ material management systems. The Management of Inventory Systems certification course aims to provide training in this domain.
The course on Management of Inventory Systems by Swayam falls under the Management domain and is created by IIT Kharagpur. It is divided over 12 weeks and consists of 30 hours worth of lectures and video tutorials. The contents of the curriculum are highly comprehensive and relevant to the current industry scenario, as this is a core course at the university level.
This programme is an AICTE-approved FDP course and candidates can enrol for free. Throughout the course, students will work on 12 graded assignments, whose score will go towards calculating their final score. Candidates enrolled in the Management of Inventory Systems online course will learn about the various problem areas in inventory management, how to deal with risk, uncertainty, etc.
The Highlights
- Course by IIT Kharagpur
- Online training
- 30 hours of study
- Expert faculty
- Management course
- UG/PG level
- AICTE approved
- FDP
- 12 weeks
Programme Offerings
- 30 hours of teaching
- 12 Assignments
- 12 weeks long
- Online Course
- FDP
- AICTE approved
- IIT Kharagpur
- UG/PG level
Courses and Certificate Fees
| Fees Informations | Certificate Availability | Certificate Providing Authority |
|---|---|---|
| INR 1000 | yes | IIT Kharagpur |
- This programme is available for a free audit, and candidates need to pay the Management of Inventory Systems certification fee only if they want to obtain the certificate.
Management of Inventory Systems fee structure :
Course | Total Fee |
Management of Inventory Systems | Free |
Management of Inventory Systems certification | Rs. 1,000 |
Eligibility Criteria
Candidates must attain the minimum average score in the assignments and final exam to receive the Management of Inventory Systems certification.
What you will learn
After completing the Management of Inventory Systems online course, candidates will know of:
- Basic concepts of statistical and other quantitative techniques
- Assess the status of improvement practices in an organisation
- Current approaches in inventory management, distribution and storage
- Dynamic and static inventory problems
Who it is for
This course on Management of Inventory Systems by Swayam is ideal for candidates from Management, Industrial engineering, Mechanical engineering and Production engineering.
Admission Details
- Click on the following link to register for the Management of Inventory Systems program: https://onlinecourses.nptel.ac.in/noc25_mg42/preview
- Hit the “Sign in” option.
- Login by entering your credentials or create a new account by giving details like username, email ID, and password
- Candidates can also log in via their accounts on Google, Microsoft, or Facebook.
- Verify your registration to complete the process.
Application Details
Candidates have to fill in their details like username, verification code, password and email ID while registering. Apart from this, there is no registration form for the Management of Inventory Systems online course.
The Syllabus
Introduction to Inventory and Materials Management
- Concepts and Issues
- Types of inventory
- Inventory costs and their measurement
- Structure of inventory models
- Importance and areas of materials management
Inventory Problems and Selective Inventory Management
- Classification of inventory problems
- Importance-based classification of inventory
- Selective inventory management techniques and their use
- Numerical problems
Static Inventory Problems under Risk
- General characteristics
- Opportunity cost matrix and cost structure
- Mathematical formulations (discrete and continuous cases)
- Imputation of costs
- Numerical problems
Static Inventory Problems under Uncertainty
- General characteristics
- Decision criteria for uncertainty and inventory problems
- Distribution-free analysis (Tchebycheff and other inequalities)
- Comparison of analyses with full and partial information
- Numerical problems
Dynamic Inventory Problems under Certainty
- General characteristics
- Fixed Order Size System (EOQ and its variants)
- Economic Production Quantity (EPQ)
- Fixed order interval system
- Inventory problem formulation and solution under constraints
- Numerical problems.
Dynamic Inventory Problems under Risk
- General characteristics
- Types of inventory control systems with known stock-out costs and service levels
- Approximate and exact methods for safety stock determination
- Numerical problems
MRP, MRP-II and DRP
- Concepts and Issues of MRP
- Design of MRP system and its variants (MRP-II and DRP)
- Numerical problems
JIT-based Approaches for Materials Management
- Concepts and Issues
- Relationship with Lean Engineering practices
- Design of JIT-based inventory management systems
- Numerical problems
Basics of Purchasing Management
- Fundamentals and importance of industrial purchasing
- Types of purchasing
- Related techniques (non-quantitative and quantitative) in purchasing
- Measurement and evaluation of performance of suppliers and purchasing systems
- Numerical problems
Theory of Constraints and Materials Management
- Concept and Issues
- Bottleneck and non-bottleneck resources
- Process and transfer batches
- Capacity constraint resources
- D-B-R scheduling and VAT plants
- Effect on materials management
- Numerical problems
Value Engineering/Analysis and Stores Management
- Objectives and issues of Value Engineering/Analysis(VE/VA)
- Steps in VE/VA
- Effects on purchasing and materials management
- Basics of and approaches for stores management
- Numerical problems
Logistics and Supply Chain Management
- Trends and issues
- Push versus Pull distribution system
- Basic Issues in Design for Logistics
- SCM and Greening SC
- Inventory system development
- Numerical problems
Evaluation process
Candidates have to give a proctored exam and score >= 30/75 marks to get the certification. They also must obtain >= 10/25 marks in their average assignment score. Thus, the candidate’s total score must be >= 40/100, to receive the Management of Inventory Systems certification.