Subject 'Inventory Management'

Year:   2015/2016    2016/2017    2017/2018    2018/2019    2019/2020    

Demand in supply chain. Demand forecasting. Forrester’s effect. Inventory in supply chain. Inventory categories. Inventory in compay financial accounting and bookkeeping. Demand for stocks in the supply chain. Demand forecasting. Inventory management in company. Inventory costs. Inventory management and methods. Inventory rotation cycle. Inventory control in company. Economic order quantity. Trade-off between transportation costs and storage costs. Inventory centralization vs decentralization. ABC analysis. XYZ analysis. Assortment analysis and management. Inventory management efficiency.

The main objectives of the course:
1. To provide students with broad knowledge of inventory management and the knowledge of the main techniques and methods of managing stocks;
2. to provide a deep knowledge of detecting the optimal size of the economic order quantity

The student knows
• inventory management modes and methods
• inventory optimization modes and methods

The student is able to
• analyze consumption and forecast demand
• analyze inventory and assortment
• calculate and evaluate inventory cost

Course duration 8 weeks (stationary study); 3 academic sessions (distance learning). Web-based e-learning by 50%, during the semester include contact classes by 50% according to the teaching plan. Lecturing in the classroom; web-based e-learning, seminars (practical exercises, group work presentation), project assignments in teams.

1. Hirvoja, M: Varude juhtimise põhimõtted jaekaubanduses; Tartu Ülikool 2005
2. Kiisler; A.; Logistika ja tarneahela juhtimine, ptk 10 Laovarude haldamine , TTÜ Kirjastus 2011
3. Tulvi; A.; Logistika õpik kutsekoolidele; ptk 14 Varude haldamine; Tallinn 2013
4. D.Piasecki, Inventory management Explained; OPS Publishing 2009
5. ECR Community; Best Practice in Implementing VMI; GS1 Swizerland 2016

Evaluation method - exam. The final grade shares the results of the following:
1. Working in groups - analytical homework on inventory management practice of the company; the maximum share of 30% of the final grade - a prerequisite criterion for the final exam.
2. Final examination - the examination format of multiple-choice test (total share of 70% of the final grade).


Minimum positive grade - "poor" (1)

Inventory Management e-course at TTK MOODLE environment: Varude juhtimine - Jelizaveta Janno http://ekool.tktk.ee/course/view.php?id=458

2018: TL  

2017: FOR*  TL  

2016: TL  

2015: TL  

2014: TL  

* Optional subject