Essentials of Inventory Control Certificate

Publish Date: September 29, 2016 | Content Areas: Logistics | Tags: Distribution, Inventory Management, MMIS | Formats: eLearning Course

Member Price: $239 | Non-Member Price: $299
CPE Credit: 5
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Overview

Inventory Control is one of the core functions of a supply chain department and is a necessary component for operating a hospital. Effective inventory control will assure that the inventory is viewed as a positive part of the supply chain.

Participants can connect with the curriculum through an updated interactive format with hands-on activities, quizzes, and case studies to enhance engagement and comprehension. The program consists of four modules full of real-life examples and advice from seasoned supply chain professionals. After successfully completing the Essentials of Inventory Control course and the exam, you will be equipped with a comprehensive knowledge of inventory and all of its components, and receive a certificate in Inventory Control of Healthcare Supply Chain Management.

Part 1: Inventory Basics
Part 2: Controlling Inventory
Part 3: Physical Inventories
Part 4: Inventory Control Beyond the Storeroom

This course is also available as part of the Essentials of Healthcare Supply Chain Certificate Series.

Learning Objectives

Part 1: Inventory Basics
Differentiate between the valuation methods, give examples, and apply them appropriately.
Demonstrate cost saving measurements by effectively managing inventory.
Determine when to reorder inventory and calculate the amount by applying the EOQ formula.

Part 2: Controlling Inventory
Recognize the difference between inventory turnover rates vs. the ABC Analysis and determine when to use each.
Propose the appropriate inventory reduction strategy (ies) to alleviate incurring additional costs.
Summarize the effects of reducing inventory.

Part 3: Physical Inventories
Recognize the advantages and disadvantages of using traditional vs. cycle counting.
Distinguish the three ways to view accuracy; count accuracy, gross dollar accuracy, and net dollar and how to measure each.
Identify how to keep the general ledger accurate.

Part 4: Inventory Control Beyond the Storeroom
Identify which areas in the healthcare facility can be deemed for booked departmental inventories.
Define the difference between annual inventory control and perpetual inventory control methods and describe the benefits and pitfalls of each.
Explain how to set up par levels and evaluate when to change them.