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Inventory Management

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Track :

Business

Lessons no : 7

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What will you learn in this course?
  • Identify and categorize the four main types of inventory including raw materials, WIP, finished goods, and MRO materials effectively manage inventory levels using proven techniques like EOQ and safety stock Apply ABC analysis and JIT methods to optimize inventory turnover and reduce holding costs Implement FIFO and LIFO inventory methods to improve stock accuracy and valuation Calculate reorder points and batch tracking for efficient inventory replenishment and control

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Lessons | 7

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Varun 

Amazing
2026-04-15

Vuyelwa Xulu 

Interesting and Informative .
2026-04-14

Lesego M 

insightful learning opportunity
2026-04-14

Karabo Nyembezi 

I’m this was a very fun experience
2026-04-13

Sihle Mdakane 

It was educational.
2026-04-13

Candice Mahlangu 

Good
2026-04-13

Rushaylin Moodley 

Good
2026-04-13

Sihle Diko busie 

Good
2026-04-13

Phind0kuhl3@Aphiwe Mkwanazi 

Refreshing
2026-04-13

Karabo Makwela 

very informative
2026-04-13

corinah mogashoa 

Informative and practical
2026-04-13

Sandra Malgas 

Educational
2026-04-13

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What are the 4 types of inventory? There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.What are the methods of inventory management? Inventory Management Techniques Economic order quantity. ... Minimum order quantity. ... ABC analysis. ... Just-in-time inventory management. ... Safety stock inventory. ... FIFO and LIFO. ... Reorder point formula. ... Batch tracking.What is the main purpose of inventory management? The primary purpose of inventory management is to ensure there is enough goods or materials to meet demand without creating overstock, or excess inventory.