This module is designed to focus on the inventory management practices and techniques and their effect on the performance of the supply chain.
Duration
1 semester
Format
Online
Credits
20
Semester
Spring
This module is designed to focus on the inventory management practices and techniques and their effect on the performance of the supply chain.
- Duration
1 semester - Format
Online - Credits
20 - Semester
Spring
This unit is designed to focus on the inventory management practices and techniques and their effect on the performance of the supply chain. It relates the inventory strategy to the alleviation of problems encountered in operations in real world business today.
The key concepts addressed are the strategic role of inventory, the rational of inventory related activities, the framework of basic inventory decisions, the sequence of the inventory activities, inventory procedures, documentation and records, inventory and information systems, maintaining and assuring the quality of inventory, matching supply with demand, inventory as both tangible and intangible object, Inventory as money, Physical location and control of inventory, automatic identification, planning and placement concepts, Why inventory systems fail and how to fix them, basics of codification, basics of bar coding, protecting inventory, inventory management policy in shipping firms, inventory on ships, management of dead stock inventory on ships.
Meet the Instructor
Konstantinos Panagopoulos
Rear Admiral (Ret.) Konstantinos Panagopoulos HN, is a graduate with first class honors of, the School of Economics of the National & Kapodistrian University of Athens (NKUA), GRC, the Department of Ensign Cadets of the Hellenic Naval Academy, and the Logistics Executive Development Course of the US Army Logistics Management College (ALMC). He holds a MSc degree in Logistics with first class honors from the Florida Institute of Technology (FIT/USA), a MSc degree with first class honors in Defence and Strategy Studies from the Hellenic National Defense College, certificates of Lead Auditor for quality ISO 9000, HACCP, ISO 18000, and
other diplomas and certificates. He has extensive administrative, strategic, tactical and operational experience of practice for 36 years of Logistics science across the entire range and aspects of the supply chain in Greece and abroad (1987 to 2014).
He carries all the medals and decorations of his rank and has been awarded by the President of the Hellenic Republic the decorations and medals of the Grand Commander of the Order of Phoenix and the Commander of the Order of Honor of
the Hellenic Republic (2018)
This unit is designed to focus on the inventory management practices and techniques and their effect on the performance of the supply chain. It relates the inventory strategy to the alleviation of problems encountered in operations in real world business today.
The key concepts addressed are the strategic role of inventory, the rational of inventory related activities, the framework of basic inventory decisions, the sequence of the inventory activities, inventory procedures, documentation and records, inventory and information systems, maintaining and assuring the quality of inventory, matching supply with demand, inventory as both tangible and intangible object, Inventory as money, Physical location and control of inventory, automatic identification, planning and placement concepts, Why inventory systems fail and how to fix them, basics of codification, basics of bar coding, protecting inventory, inventory management policy in shipping firms, inventory on ships, management of dead stock inventory on ships.
Meet the Instructor
Konstantinos Panagopoulos
Rear Admiral (Ret.) Konstantinos Panagopoulos HN, is a graduate with first class honors of, the School of Economics of the National & Kapodistrian University of Athens (NKUA), GRC, the Department of Ensign Cadets of the Hellenic Naval Academy, and the Logistics Executive Development Course of the US Army Logistics Management College (ALMC). He holds a MSc degree in Logistics with first class honors from the Florida Institute of Technology (FIT/USA), a MSc degree with first class honors in Defence and Strategy Studies from the Hellenic National Defense College, certificates of Lead Auditor for quality ISO 9000, HACCP, ISO 18000, and
other diplomas and certificates. He has extensive administrative, strategic, tactical and operational experience of practice for 36 years of Logistics science across the entire range and aspects of the supply chain in Greece and abroad (1987 to 2014).
He carries all the medals and decorations of his rank and has been awarded by the President of the Hellenic Republic the decorations and medals of the Grand Commander of the Order of Phoenix and the Commander of the Order of Honor of
the Hellenic Republic (2018)
√ equip students with a good working knowledge of inventory management techniques, procedures and strategy and their relationship to effective and efficient operations management, and in conjunction with the purchasing practices utilised in an organisation.
√ encourage students to think like working professionals, and
√ challenge students by offering real-world examples similar to those experienced by working professionals. √ assess and evaluate inventory management activities and understand their contribution to material, information, and capital flows and their effect on competitive advantage in the market;
√ assess and evaluate the link of the inventory management activity to competitive advantage and customer satisfaction by pursuing quality of the items held in inventory, improving its effectiveness and efficiency and by reducing the associated costs;
√ Assess and evaluate the major challenges to effective inventory management, including variability, tradeoffs, sustainability, reduction of inventory costs, and avoid dead stocks.
√ equip students with a good working knowledge of inventory management techniques, procedures and strategy and their relationship to effective and efficient operations management, and in conjunction with the purchasing practices utilised in an organisation.
√ encourage students to think like working professionals, and
√ challenge students by offering real-world examples similar to those experienced by working professionals. √ assess and evaluate inventory management activities and understand their contribution to material, information, and capital flows and their effect on competitive advantage in the market;
√ assess and evaluate the link of the inventory management activity to competitive advantage and customer satisfaction by pursuing quality of the items held in inventory, improving its effectiveness and efficiency and by reducing the associated costs;
√ Assess and evaluate the major challenges to effective inventory management, including variability, tradeoffs, sustainability, reduction of inventory costs, and avoid dead stocks.
At the end of the module the learner will be able to:
Analyse the strategic role the inventory management activity plays in the logistics system.
Critically examine and appraise the sequence and the procedures for managing inventory a firm requires.
Critically examine and evaluate various inventory management practices and techniques and the influence they have on the performance of the logistics function.
Relate the inventory management systems to the improvement of customer satisfaction and to obtaining a competitive advantage in the market.
Efficiently utilise inventory management theory to effective practice in a shipping company or in a general company.
Assess and evaluate the effectiveness and efficiency of the inventory control point (ICP) activity in managing inventories.
ASSESSMENT STRATEGY
Based on the Programme Specification, students are formally assessed through the submission of coursework. The forms of coursework depend on the characteristics of each module and may include the following types of assessments: case study, essay, report, dissertation, market analysis, project output, valuation, etc.
In addition each module incorporates multiple self-assessment tests. Self-assessment tests are not part of the formal assessment but completion is strongly encouraged as students will be able to monitor and evaluate their learning process and identify areas requiring improvement.
At the end of the module the learner will be able to:
Analyse the strategic role the inventory management activity plays in the logistics system.
Critically examine and appraise the sequence and the procedures for managing inventory a firm requires.
Critically examine and evaluate various inventory management practices and techniques and the influence they have on the performance of the logistics function.
Relate the inventory management systems to the improvement of customer satisfaction and to obtaining a competitive advantage in the market.
Efficiently utilise inventory management theory to effective practice in a shipping company or in a general company.
Assess and evaluate the effectiveness and efficiency of the inventory control point (ICP) activity in managing inventories.
ASSESSMENT STRATEGY
Based on the Programme Specification, students are formally assessed through the submission of coursework. The forms of coursework depend on the characteristics of each module and may include the following types of assessments: case study, essay, report, dissertation, market analysis, project output, valuation, etc.
In addition each module incorporates multiple self-assessment tests. Self-assessment tests are not part of the formal assessment but completion is strongly encouraged as students will be able to monitor and evaluate their learning process and identify areas requiring improvement.
FAQs
1
Assess the different stages of crafting, executing and reviewing a strategy.
2
Critically evaluate how these functions are applied in shipping.
3
Apply performance monitoring and management in the shipping context.
4
Evaluate Commercial Shipping Management Strategies.
Your tuition covers:
HD films per course, your own e-book, 24/7 support, professor video calls 3 times per month, extra webinars by Shipping industry titans
1
Good command of the English Language via IELTS, TOEFL or any other internationally approved English language certification.
2
Employer/Professor recommendation.