Basics of Inventory Control

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Designed for Every Passionate Mechanical Engineer/student to get updated about all aspects of Engineering Design, Quality, Automation, Manufacturing & Management.

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Basics of Inventory Control

Learn How to Control Inventory and reduce the inventory cost. Also, learn some inventory control techniques like ABC Analysis, VED Analysis.

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online course of inventory control

Inventory control is also known as stock control which simply means the activity of checking the company’s stock. In this course, You will learn some techniques for Inventory control.

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Lessons

Inventory Control Terminology

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Author: GaugeHow TeamComplexity: Standard

Going further in the course of ‘Inventory Control’. First, discuss some terminology used in the Inventory process, this helps us to understand the course better. Demand: It is the number…

ABC Analysis

Author: GaugeHow TeamComplexity: Standard

The inventory of an industrial organization generally consists of thousands of items with varying prices, usages rate, and lead time. It is neither desirable nor possible to pay equal attention…

VED Analysis

Author: GaugeHow TeamComplexity: Easy

V.E.D. analysis represents a classification of items based on criticality. The analysis classifies the items into three groups called Vital, Essential, and Desirable. Vital items are those items the unavailability…

Probabilistic models

Author: GaugeHow TeamComplexity: Standard

In most situation demand is probabilistic rather than the exact value of demand. Here, there is only a single procurement.For example, a boy selling newspaper has to decide in the…

CONVEYORS

Length: 3 minutesAuthor: GaugeHow TeamComplexity: Easy

Each of these conveyor systems is designed according to the requirement and usage. It can handle the load, move the products at the required speed, or can handle the material without damaging the machine.

Materials Management

Length: 4 minutesAuthor: GaugeHow TeamComplexity: Easy

The concept of material management was introduced by manufacturing industries for giving rise to efficient purchase, stocking and consumption of materials.