Inventory levels impact operational performance, customer service, and the cost structure that delivers a product or service. Carrying inventory is costly because it ties up cash and creates risk of obsolescence. Therefore, an inventory management policy aligned to deliver the organization's objectives needs to be in place.
In this course, you will explore the drivers of inventory strategy and compare product life cycles. You will practice using the appropriate models and approaches to match levels of inventory with demand in a way that maximizes profit, and you will determine the optimal policies to manage two types of inventory in a given scenario. Finally, you will recommend strategies to improve operations management in your organization based on the principles of the Toyota Production System.
- Mid-career healthcare professionals
- Physicians transitioning into a managerial role
- Nurses and nurse practitioners taking on management responsibilities
- Healthcare policy professionals looking to transition into operations management
- Business management professionals/MBA students who wish to specialize in healthcare operations
- Customer-facing managers in government agencies
- Anyone whose staff or unit is responsible for providing a consistent and high level of service