Inventory Analytics from Coursera

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.

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.

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Read about what's good

what should give you pause

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

Reviews summary

Practical introduction to inventory analytics

According to students, this course provides a strong foundation in inventory analytics, particularly beneficial for beginners in supply chain management. Learners frequently praise the clear explanations and the course's effective use of real-world examples, such as Amazon and Macy's, to illustrate key concepts. Many find the focus on identifying inventory problems and understanding their financial impact highly valuable and practical. While some more experienced learners felt the course lacked advanced problem-solving techniques, the majority confirmed it delivers on its promise of a thorough introductory overview and practical skills for discovery.

Instructor demonstrates deep knowledge and passion.

"The instructor's passion for the subject really shone through, making even complex topics engaging."

"I found the explanations articulate and clear, delivered by someone clearly knowledgeable in the field."

"The lectures were well-structured, a testament to the instructor's expertise in inventory analytics."

Teaches how to identify inventory challenges effectively.

"The course's emphasis on knowing when you *have* an inventory problem was truly insightful and a critical first step."

"I learned practical ways to classify inventory and recognize key indicators of inefficiency."

"Understanding how inventory drives financial performance and how to spot issues was a major takeaway for me."

Excellent for those new to supply chain inventory.

"This course is perfectly suited for beginners, providing a solid understanding of inventory basics without overwhelming details."

"I appreciated that it focused on discovering issues rather than diving into overly complex solutions right away. Perfect for a first course."

"As someone new to supply chain, I found the explanations incredibly clear and easy to follow. It built my confidence."

Practical examples enhance learning and application.

"The case studies, especially Amazon vs. Macy's, made the abstract concepts tangible and highly relatable."

"I really valued how the instructor used real company scenarios to explain the financial impact of inventory."

"The examples were spot-on, showing exactly how inventory problems manifest in actual businesses."

May be too basic for experienced professionals.

"For someone already familiar with basic supply chain, this course felt a bit too introductory and lacked advanced problem-solving."

"I was hoping for more quantitative models and complex optimization techniques, but it stayed at a foundational level."

"While good for beginners, I felt I needed a follow-up course to delve into the actual solutions for inventory issues."

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

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Watching the Coursera tutorial on inventory management will provide you with a quick overview of the key concepts.

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Log into Coursera
Find the tutorial on inventory management
Watch the tutorial

Read the book 'Inventory Management: A Practical Guide'

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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

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Purchase the book
Read the book
Take notes on the key concepts

Review Logistics

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Reviewing logistics will provide a foundation of knowledge that will make the course material more accessible.

Browse courses on Inventory

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Read a logistics textbook
Take a logistics online course
Attend a logistics webinar

Five other activities

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Attend the course discussion forums

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Attending the discussion forums will provide you with an opportunity to connect with other students and get help with the course material.

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Log into the course discussion forums
Read the discussion topics
Post your questions and comments

Solve inventory management problems

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Solving inventory management problems will help you apply the concepts you learn in the course and improve your problem-solving skills.

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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

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Contributing to an open-source inventory management project will give you hands-on experience and help you learn from others.

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Find an open-source inventory management project
Install the project on your computer
Contribute to the project

Write a blog post about inventory management

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Writing a blog post about inventory management will help you synthesize your knowledge and improve your communication skills.

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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

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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.

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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 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.

See salaries and explore the career path for Inventory Analyst

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.

See salaries and explore the career path for Supply Chain 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.

See salaries and explore the career path for Logistics 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.

See salaries and explore the career path for Operations 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.

See salaries and explore the career path for Procurement 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.

See salaries and explore the career path for Warehouse Manager

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.

See salaries and explore the career path for Inventory Control Specialist

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.

See salaries and explore the career path for Transportation 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.

See salaries and explore the career path for Distribution Center Manager

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.

See salaries and explore the career path for Business Analyst

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.

See salaries and explore the career path for Management Consultant

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.

See salaries and explore the career path for Wholesale 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.

See salaries and explore the career path for Retail Store Manager

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.

See salaries and explore the career path for Auditor

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.

See salaries and explore the career path for Financial Analyst