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Inventory Planning and Control OPMT 1192

Operations Management Course

Course details

This course presents and examines inventory concepts as applied in manufacturing and distribution environments and the inter-relationships between them. It covers the following: objectives, planning levels, demand types, forecasting, order point systems, MRP, different costing types, ABC analysis, purchasing, capacity and warehouse controls. Students will be encouraged to apply these concepts at their workplaces.

Prerequisite(s)

  • No prerequisites are required for this course.

Credits

3.0

Cost

$516.18 - $554.93 See individual course offerings below for actual costs.

Course offerings

Winter 2023

Below are two offerings of OPMT 1192 for the Winter 2023 term.

CRN 88318

Duration

Mon Jan 09 - Mon Apr 03 (12 weeks)

  • 12 weeks
  • CRN 88318
  • $516.18
Class meeting times
Dates Days Times Locations
Jan 09 - Apr 03 Mon 18:30 - 21:30 Online
Instructor

Wayne Arondus

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Cost

$516.18

Important information
  1. Internet delivery format.
  2. No class on February 20
Status

CRN 12011

Duration

Tue Jan 10 - Tue Mar 28 (12 weeks)

  • 12 weeks
  • CRN 12011
  • $554.93
Class meeting times
Dates Days Times Locations
Jan 10 - Mar 28 Tue 18:45 - 21:45 Burnaby NE01 Rm. 422
Instructor

Wayne Arondus

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Cost

$554.93

Status

Learning Outcomes

Upon successful completion of the course, the student will be able to:

  • Understand the conflicts between marketing (sales) finance and production when controlling supply, manufacturing planning, and physical distribution
  • Understand the hierarchy of controls as it relates to manufacturing - (SP, PP, MPS, MRP, PAC)
  • Know the basis of planning systems, achieving forecasts (budgets) and keeping desired inventory levels
  • Apply a master production schedule (MPS) to form the link between production planning and manufacturing, scheduling and load leveling
  • Establish a material requirements plan (MRP) using lead time and capacities
  • Recognize the importance of Capacity Planning and Capacity Management
  • Use the master production schedule and the materials requirements plan to release orders through the production activity control (PAC)
  • Know how and when to purchase at the right time and the right amount
  • Understand the fundamentals of forecasting techniques
  • Understand the functions of warehousing, distribution and transportation classifications
  • Know how to create effective physical controls and security of stock, inventory accuracy and records
  • Learn important formulas to calculate Order points, Safety Stock, Economic Order Quantities and other inventory parameters
  • Recognize the importance of inventory management and the effects it has on the business from all aspects including cash flow, aging accounts, purchasing and Owners Equity
  • Analyze the requirements for effective warehouse management, including the main elements to consider when determining the size, location, layout and material handling equipment
  • Understand basic principles of accounting and how to manages a company with the strategic business plan, S&OP planning through to the PP, MPS and MRP
  • Understand basic metrics and KPI's to effectively manage the different levels of the business to achieve the overall business strategic plans

Effective as of Winter 2021

Related Programs

Inventory Planning and Control (OPMT 1192) is offered as a part of the following programs:

School of Business + Media

  1. Operations Management (Industrial Engineering Option)
    Certificate Part-time
  2. Operations Management (Materials Management Option)
    Certificate Part-time
  3. Quality and Process Management
    Certificate Part-time

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