This module provides students with the fundamental
knowledge in inventory management and basic
applications used in the industry. It introduces the
principles, processes and methods of managing the
different types of inventory in a scientific and systematic
way. The main topics include Economic Order Quantity
(EOQ) model, inventory review systems, inventory control
practices such as Material Resource Planning (MRP)
and Vendor-Managed-Inventory (VMI), and the essential
applications to support these practices such as Enterprise
Resource Planning (ERP) systems. The hands-on
practices allows students to understand the strategic role
of inventory management and appreciate the technologies
associated with inventory management.
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