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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. 1000

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

Supply Management

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

Mechanical EngineerIndustrial Engineer

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/noc21_mg23/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.