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Yao Zhao
Inventory analytics is the corner stone of supply chain analytics. A company in trade industries may have 30-50% of their assets tied up in inventory. An effective inventory management can improve revenue by increasing product variety and availability, and reduce cost and speed up cash cycle by reducing excessive inventory and waste.
Through real-life examples (e.g., Amazon vs. Macy’s), you will learn hands-on tools and skills to discover and solve inventory problems by data analytics. Upon completion, you can answer the following questions:
1. For which industries is inventory important?
Read more
Inventory analytics is the corner stone of supply chain analytics. A company in trade industries may have 30-50% of their assets tied up in inventory. An effective inventory management can improve revenue by increasing product variety and availability, and reduce cost and speed up cash cycle by reducing excessive inventory and waste.
Through real-life examples (e.g., Amazon vs. Macy’s), you will learn hands-on tools and skills to discover and solve inventory problems by data analytics. Upon completion, you can answer the following questions:
1. For which industries is inventory important?
Read more
Inventory analytics is the corner stone of supply chain analytics. A company in trade industries may have 30-50% of their assets tied up in inventory. An effective inventory management can improve revenue by increasing product variety and availability, and reduce cost and speed up cash cycle by reducing excessive inventory and waste.
Through real-life examples (e.g., Amazon vs. Macy’s), you will learn hands-on tools and skills to discover and solve inventory problems by data analytics. Upon completion, you can answer the following questions:
1. For which industries is inventory important?
2. How may inventory drive a company’s financial performance?
3. How do I know that I have an inventory problem?
4. How to classify inventory and manage it accordingly?
Note: This course is for beginners and thus focuses more on discovering inventory problems than solving them. It is my belief that discovering a problem and knowing which directions to go is at least equally important as solving the problem. We are planning to launch new courses or expand this course to cover more sophisticated inventory solutions in the future - thank you.
Register for this course and see more details by visiting:
OpenCourser.com/course/1wy5qt/inventory
What's inside
Syllabus
The Value and Impact of Inventory
Welcome to inventory analytics - the corner-stone of supply chain analytics. In this week, you will first learn the story of Amazon and Macy’s, then get an overview of the course, including the value, trend, breakdown, and economic indication of inventory in the US and the world.
Read more
Syllabus
The Value and Impact of Inventory
Welcome to inventory analytics - the corner-stone of supply chain analytics. In this week, you will first learn the story of Amazon and Macy’s, then get an overview of the course, including the value, trend, breakdown, and economic indication of inventory in the US and the world.
Read more
In Which Industries Is Inventory Important?
The importance of inventory is industry and country dependent. In this week, you will be able to identify the importance of inventory in various industries (and countries) by two metrics: Inventory as a percentage of the total assets and inventory turns (or days).
How May Inventory Drive Financials and How to Discover Inventory Problems?
How may inventory drive a company’s financial performance? How do I know that I have an inventory problem? Why do companies hold inventory and why not? You will be able to answer these questions in this week.
Classifying and Managing Inventory
Some products are more important than others for inventory management; the inventory of different products may be managed in different ways. In this week, you will learn how to classify inventory and manage it accordingly.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Introduces the concept of inventory analytics, its importance, and its applications in various industries
Teaches the skills to identify and solve inventory problems using data analytics, making it suitable for those who want to improve inventory management
Emphasizes on discovering inventory problems rather than solving them, which is equally important for understanding and addressing inventory issues
Provides real-life examples to illustrate inventory management concepts and applications, making it relatable and practical
Taught by Yao Zhao, an experienced professional with expertise in inventory analytics
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Save Inventory Analytics to your list so you can find it easily later:
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Reviews summary
Positive reviews course for inventory management professionals
Learners say that Inventory Analytics is a well-received option when looking for a course that introduces learners to inventory management and analysis. According to reviews, the lectures provide engaging assignments that help learners recognize patterns in inventory data and formulate analytics to diagnose and solve problems within the field. Students also largely agreethat the course changed how they considered inventory management and that the skills they learned were immediately applicable to their work in inventory management and supply chain management.
Learners feel that the information taught is valuable.
"This course is very helpful. I really appreciate it."
"The course is well presented with enriching informations and pedagogical methodology."
"This is an excellent course for those who would like to get the exact knowledge of how inventory is classified and its importance in industry."
Students agree that the course has hands-on applications.
"Muy bueeno"
"me gusto"
"nice"
Learners commend the engaging assignments.
"This course changed my perspective about Inventory management and analysis."
"The course is much useful, Clear all concepts with Practical experience of data analysis and ABC Analysis"
"Excellent learning, This course helped in inventory related problem solving with use of advance technology."
A few students mentioned that they would have liked the course to include more depth in some areas.
"The course should have included Replenishment Systems, FSN, VED, SDE Analysis, Statistical Perspectives in details."
"Just fine, not exceptional. Has some pretty basic concepts, maybe I would have liked to dig somewhat deeper in them."
Some students experienced delays in receiving grades for their assignments.
"Having to go around chasing people to grade your assignments is a nightmare."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Inventory Analytics with these
activities:
Watch the Coursera tutorial on inventory management
Show steps
Watching the Coursera tutorial on inventory management will provide you with a quick overview of the key concepts.
Show steps
-
Log into Coursera
-
Find the tutorial on inventory management
-
Watch the tutorial
Read the book 'Inventory Management: A Practical Guide'
Show steps
The book 'Inventory Management: A Practical Guide' provides a comprehensive overview of inventory management concepts and techniques.
View
Inventory and Production Management in Supply...
on Amazon
Show steps
-
Purchase the book
-
Read the book
-
Take notes on the key concepts
Review Logistics
Show steps
Reviewing logistics will provide a foundation of knowledge that will make the course material more accessible.
Browse courses on
Inventory
Show steps
-
Read a logistics textbook
-
Take a logistics online course
-
Attend a logistics webinar
Five other activities
Expand to see all activities and additional details
Show all eight activities
Attend the course discussion forums
Show steps
Attending the discussion forums will provide you with an opportunity to connect with other students and get help with the course material.
Show steps
-
Log into the course discussion forums
-
Read the discussion topics
-
Post your questions and comments
Solve inventory management problems
Show steps
Solving inventory management problems will help you apply the concepts you learn in the course and improve your problem-solving skills.
Show steps
-
Find inventory management problems online
-
Work through the problems using the concepts you learn in the course
-
Check your answers against the solutions provided
Contribute to an open-source inventory management project
Show steps
Contributing to an open-source inventory management project will give you hands-on experience and help you learn from others.
Show steps
-
Find an open-source inventory management project
-
Install the project on your computer
-
Contribute to the project
Write a blog post about inventory management
Show steps
Writing a blog post about inventory management will help you synthesize your knowledge and improve your communication skills.
Show steps
-
Choose a topic for your blog post
-
Research your topic
-
Write your blog post
-
Publish your blog post
Start a project to improve the inventory management system at your workplace
Show steps
Starting a project to improve the inventory management system at your workplace will give you hands-on experience and help you apply the concepts you learn in the course.
Show steps
-
Identify a problem with the inventory management system at your workplace
-
Develop a plan to improve the system
-
Implement your plan
-
Evaluate the results of your plan
Watch the Coursera tutorial on inventory management
Show steps
Watching the Coursera tutorial on inventory management will provide you with a quick overview of the key concepts.
Show steps
Show steps
Show steps
- Log into Coursera
- Find the tutorial on inventory management
- Watch the tutorial
Read the book 'Inventory Management: A Practical Guide'
Show steps
The book 'Inventory Management: A Practical Guide' provides a comprehensive overview of inventory management concepts and techniques.
View
Inventory and Production Management in Supply...
on Amazon
Show steps
Show steps
Show steps
- Purchase the book
- Read the book
- Take notes on the key concepts
Review Logistics
Show steps
Reviewing logistics will provide a foundation of knowledge that will make the course material more accessible.
Browse courses on
Inventory
Show steps
Show steps
Show steps
- Read a logistics textbook
- Take a logistics online course
- Attend a logistics webinar
Five other activities
Expand to see all activities and additional details
Show all eight activities
Attend the course discussion forums
Show steps
Attending the discussion forums will provide you with an opportunity to connect with other students and get help with the course material.
Show steps
Show steps
Show steps
- Log into the course discussion forums
- Read the discussion topics
- Post your questions and comments
Solve inventory management problems
Show steps
Solving inventory management problems will help you apply the concepts you learn in the course and improve your problem-solving skills.
Show steps
Show steps
Show steps
- Find inventory management problems online
- Work through the problems using the concepts you learn in the course
- Check your answers against the solutions provided
Contribute to an open-source inventory management project
Show steps
Contributing to an open-source inventory management project will give you hands-on experience and help you learn from others.
Show steps
Show steps
Show steps
- Find an open-source inventory management project
- Install the project on your computer
- Contribute to the project
Write a blog post about inventory management
Show steps
Writing a blog post about inventory management will help you synthesize your knowledge and improve your communication skills.
Show steps
Show steps
Show steps
- Choose a topic for your blog post
- Research your topic
- Write your blog post
- Publish your blog post
Start a project to improve the inventory management system at your workplace
Show steps
Starting a project to improve the inventory management system at your workplace will give you hands-on experience and help you apply the concepts you learn in the course.
Show steps
Show steps
Show steps
- Identify a problem with the inventory management system at your workplace
- Develop a plan to improve the system
- Implement your plan
- Evaluate the results of your plan
Career center
Learners who complete Inventory Analytics will develop knowledge and skills
that may be useful to these careers:
Inventory Analyst
Inventory Analyst
Inventory Analysts monitor and analyze inventory levels. They work closely with Purchasing and Warehousing to ensure that inventory is optimized. This course will give you the skills needed to monitor and analyze inventory, and to make recommendations for improving inventory management.
Supply Chain Manager
Supply Chain Manager
Supply Chain Managers plan and manage the flow of goods and services within a supply chain. Inventory is crucial to supply chains, and inventory analytics can help Supply Chain Managers improve efficiency, reduce costs, and improve customer service. This course can help you learn how to use data to improve inventory management and succeed as a Supply Chain Manager.
Logistics Manager
Logistics Manager
Logistics Managers plan and manage the transportation of goods and services. They work closely with carriers and customers to ensure that goods and services are delivered on time and at the lowest possible cost. Inventory is a crucial part of logistics. This course can help you learn how to use data to improve inventory management and succeed as a Logistics Manager.
Operations Manager
Operations Manager
Operations Managers manage the day to day operations of a business. They are responsible for coordinating with departments including Production, Sales, and Marketing. Inventory is a crucial part of operations. Inventory analytics can help an Operations Manager improve efficiency, reduce costs, and improve profitability. This course can help you learn how to use data to improve inventory management and succeed in your role as an Operations Manager.
Inventory Control Specialist
Inventory Control Specialist
Inventory Control Specialists are responsible for managing the inventory of a company. They work closely with Purchasing and Warehousing to ensure that inventory is optimized. This course will give you the skills needed to manage inventory and succeed as an Inventory Control Specialist.
Warehouse Manager
Warehouse Manager
Warehouse Managers oversee the day to day operations of a warehouse. They are responsible for receiving, storing, and shipping goods. Inventory is crucial to warehouse operations. This course can help you learn how to use data to improve inventory management and succeed as a Warehouse Manager.
Procurement Manager
Procurement Manager
Procurement Managers are responsible for purchasing goods and services for a company. They work closely with suppliers to ensure that goods and services are procured at the best possible price. Inventory is a crucial part of procurement. This course can help you learn how to use data to improve inventory management and succeed as a Procurement Manager.
Distribution Center Manager
Distribution Center Manager
Distribution Center Managers oversee the day to day operations of a distribution center. They are responsible for receiving, storing, and shipping goods. Inventory is crucial to distribution center operations. This course can help you learn how to use data to improve inventory management and succeed as a Distribution Center Manager.
Transportation Manager
Transportation Manager
Transportation Managers plan and manage the transportation of goods and services. They work closely with carriers and customers to ensure that goods and services are delivered on time and at the lowest possible cost. Inventory is a crucial part of transportation. This course can help you learn how to use data to improve inventory management and succeed as a Transportation Manager.
Management Consultant
Management Consultant
Management Consultants advise businesses on how to improve their operations. They use data to analyze problems and develop solutions. Inventory is a common business problem. This course will help you develop the skills needed to analyze inventory problems and develop solutions.
Business Analyst
Business Analyst
Business Analysts identify and solve business problems. They use data to analyze problems and develop solutions. Inventory is a common business problem. This course will help you develop the skills needed to analyze inventory problems and develop solutions.
Retail Store Manager
Retail Store Manager
Retail Store Managers oversee the day to day operations of a retail store. They are responsible for managing staff, inventory, and sales. Inventory is crucial to retail operations. This course can help you learn how to use data to improve inventory management and succeed as a Retail Store Manager.
Wholesale Manager
Wholesale Manager
Wholesale Managers oversee the day to day operations of a wholesale company. They are responsible for managing staff, inventory, and sales. Inventory is crucial to wholesale operations. This course can help you learn how to use data to improve inventory management and succeed as a Wholesale Manager.
Auditor
Auditor
Auditors examine financial records to ensure that they are accurate and complete. They may also perform operational audits to assess the efficiency and effectiveness of a company's operations. Inventory is a crucial part of a company's financial and operational performance. This course can help you learn how to analyze inventory and identify problems.
Financial Analyst
Financial Analyst
Financial Analysts evaluate the financial performance of companies. They use data to analyze financial statements and make recommendations for improving financial performance. Inventory is a crucial part of financial performance. This course can help you develop the skills needed to analyze inventory and make recommendations for improving financial performance.
For more career information including salaries, visit:
OpenCourser.com/course/1wy5qt/inventory
Reading list
We've selected 11 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Inventory Analytics.
Provides a comprehensive overview of mathematical inventory theory. It valuable resource for students and researchers in the field.
Provides a comprehensive overview of inventory management. It valuable resource for students, researchers, and practitioners in the field.
Provides a comprehensive overview of inventory optimization. It valuable resource for students, researchers, and practitioners in the field.
Provides a comprehensive overview of quantitative inventory management. It valuable resource for students, researchers, and practitioners in the field.
Provides a comprehensive guide to inventory management for professionals. It valuable resource for students, researchers, and practitioners in the field.
Provides a comprehensive overview of supply chain management. It valuable resource for students, researchers, and practitioners in the field.
Provides a comprehensive overview of supply chain management. It valuable resource for students, researchers, and practitioners in the field.
Save
Provides a comprehensive overview of forecasting and inventory management. It valuable resource for students, researchers, and practitioners in the field.
Provides a comprehensive overview of inventory and production management in supply chains. It valuable resource for students, researchers, and practitioners in the field.
Provides a practical guide to inventory control and management. It valuable resource for students, researchers, and practitioners in the field.
Beginner-friendly guide to inventory management. It is perfect for students or business professionals just starting to learn about this topic.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/1wy5qt/inventory
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Effort
4 weeks of study, 2.5 hours/week
Level
Introductory
Via
Coursera
Institution
Rutgers the State University of New Jersey
Instructor
Yao Zhao
Language
English
Transcripts
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Good to know
Introduces the concept of inventory analytics, its importance, and its applications in various industries
Teaches the skills to identify and solve inventory problems using data analytics, making it suitable for those who want to improve inventory management
Emphasizes on discovering inventory problems rather than solving them, which is equally important for understanding and addressing inventory issues
Provides real-life examples to illustrate inventory management concepts and applications, making it relatable and practical
Taught by Yao Zhao, an experienced professional with expertise in inventory analytics
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