This course is part of the Operational Excellence & Process Optimisation ExpertTrack
Advanced Strategies for Inventory Optimisation
Master cutting-edge tools and techniques to improve your inventory control and boost operational efficiency.
Duration
2 weeksWeekly study
1 hour100% online
How it worksIncluded in an ExpertTrack
Course 4 of 4
Advanced Strategies for Inventory Optimisation
Build a strong foundation in inventory forecasting and planning
Efficient inventory control is at the heart of supply chain success. On this two-week course, you’ll explore the essential parameters of inventory management and how they support business continuity, cost reduction, and service excellence.
You’ll learn how to analyse historical data, apply forecasting techniques, and design replenishment strategies using tools like Material Requirements Planning (MRP).
Through real-world examples and case-based learning, you’ll strengthen your ability to balance supply and demand effectively.
Apply optimisation models and technologies in real scenarios
Practise calculating safety stock, reorder points, and economic order quantities (EOQ) while accounting for risk and lead time variability. You’ll explore how to categorise inventory, reduce excess, and improve turnover.
You’ll also assess the benefits of Just-in-Time (JIT) strategies and learn how AI and machine learning are shaping real-time inventory decisions in modern logistics and retail settings.
Apply AI tools and inventory models in real-world scenarios
Finally, you’ll explore key inventory metrics and dashboards to monitor performance, spot inefficiencies, and support continuous improvement. You’ll design inventory KPIs, build tracking frameworks, and assess optimisation outcomes across multiple channels.
With your new skills, you’ll be prepared to make smarter inventory decisions that support broader business success.
Lead transformation in supply chain operations
You’ll bring all your knowledge together to evaluate how inventory optimisation connects to broader operational strategy. Explore how effective inventory control influences procurement, finance, and customer service.
With future-focused insights, you’ll be able to lead change, reduce risk, and drive cross-functional improvement.
Syllabus
Week 1
Foundations of Inventory Control and Planning
Lesson 1: Introduction to Inventory Management
Explore the strategic role of inventory management, its benefits, and the common pitfalls organizations face. Gain an overview of inventory systems and modern technologies that support effective inventory control.
Lesson 2: Fundamental Parameters of Inventory Management
Understand the key components that govern inventory processes, including supply and demand, lead times, lot sizing, safety stock, and reorder points. Learn how these parameters influence inventory efficiency.
Lesson 3: Inventory Forecasting, Demand and Requirement Planning
Examine forecasting methods and data analysis techniques used to predict demand. Learn how Material Requirements Planning (MRP) supports accurate inventory planning and aligns supply with organizational needs.
Week 2
Optimization Strategies and Performance Improvement
Lesson 4: Inventory Optimization, Control Strategies and Techniques
Analyze cost drivers and classification methods such as ABC and XYZ. Explore optimization models including EOQ and JIT, and strategies to minimize excess inventory while maintaining service levels.
Lesson 5: Inventory Tracking and Performance Metrics
Discover key inventory KPIs and tracking practices. Learn how to use technology for modeling and optimization, and draw insights from lean manufacturing principles to improve overall inventory performance.
Prove you're job ready
Highlight the new, job-relevant skills you’ve gained and supplement existing qualifications with a hard-earned, industry-specific digital certificate – plus one for every course within your ExpertTrack.
- Learn the latest in your chosen industry or subject.
- Complete each course and pass assessments.
- Receive certificates validated by the educating organisation.
- Impress employers with learning outcomes you can add to your CV.
- Make your career dreams a reality.
Download a PDF
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Assess the significance of effective inventory management and its impact on organizational performance.
- Get familiar with the fundamental parameters of inventory management and optimization.
- Apply various inventory forecasting and demand planning techniques used in inventory management.
- Develop effective inventory optimization strategies to improve inventory turnover, reduce excess stock, and enhance customer satisfaction.
- Measure inventory performance using key metrics and use data-driven insights to make informed inventory decisions.
Who is the course for?
This course is for professionals in operations, supply chain, logistics, or manufacturing who want to advance their inventory skills. It also suits business analysts and consultants seeking strategic tools for inventory optimisation.
Who will you learn with?
Who developed the course?
Starweaver
Starweaver is a next generation platform that engages your workforce as no other. Combining business and technical skills, Starweaver provides real-time skill building that is in line with your business objectives and strategies, and in your associates day to day tasks and jobs.
Start learning today - free 2-day trial
After your free trial you can:
- Pay $39 per month to keep learning online
- Have complete control over your subscription; you can cancel any time
- Work at your own pace and set your own deadlines at every stage
- Only pay while you’re learning; the subscription will cancel automatically when you finish
- Complete online assessments to test your knowledge and prove your skills
- Earn digital course certificates and a final award that you can share online, with potential employers, and your professional network
- Keep access to the content of courses you complete even after your subscription ends
Learning on FutureLearn
Your learning, your rules
- Courses are split into weeks, activities, and steps to help you keep track of your learning
- Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
- Stay motivated by using the Progress page to keep track of your step completion and assessment scores
Join a global classroom
- Experience the power of social learning, and get inspired by an international network of learners
- Share ideas with your peers and course educators on every step of the course
- Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others
Map your progress
- As you work through the course, use notifications and the Progress page to guide your learning
- Whenever you’re ready, mark each step as complete, you’re in control
- Complete 90% of course steps and all of the assessments to earn your certificate
Want to know more about learning on FutureLearn? Using FutureLearn
