Purpose:
Materials management can have a significant impact on a company's profit, logistics efficiency and customer service. In global supply chains and e-commerce, the importance of material management components, such as demand forecasting, inventory level management, selecting production strategy and planning capacity, is becoming increasingly important. In this course you will learn how to plan and manage material flows. After completing this course, you will understand the basic principles, key concepts and theories of material management and their implications for business.
Competencies:
- Investigations and information retrieval: You will learn how to analyze data and make conclusions based on it.
- Knowledge and understanding: You will learn to understand the basic principles of materials management.
- Purchasing: You will learn example, how to schedule purchasing orders and how to determine order quantities.
- Intralogistics: You will learn example how to manage capacities, inventory levels and capital costs.
- Business: You will understand the basic principles of business economics and know how to apply them from the perspective of logistics management.
Learning outcomes:
- You will understand the importance of demand forecasting in business and the most common methods of forecasting.
- You will understand how material flows and inventory levels can be managed and controlled. You understand how to minimize costs of material flow and holding inventory
- You will understand the basic principles of production control management as well as the different production strategies and their importance for business.
- You will understand how machine, space and personnel capacity can be determined and understand the basic principles of capacity management.
