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
$565.64 - $568.18 See individual course offerings below for actual costs.
Course offerings
Fall 2023
Below are two offerings of OPMT 1192 for the Fall 2023 term.
CRN 30826
Duration
Tue Sep 12 - Tue Nov 28 (12 weeks)
- 12 weeks
- CRN 30826
- $568.18
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 12 - Nov 28 | Tue | 18:30 - 21:30 | Burnaby SE12 Rm. 302 |
Instructor
Wayne Arondus
Course outline
Cost
$568.18
Status
In Progress and Full
This course offering is in progress and full. Please check back next term or subscribe to receive email updates.
CRN 48653
Duration
Thu Sep 14 - Thu Nov 30 (12 weeks)
- 12 weeks
- CRN 48653
- $565.64
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 14 - Nov 30 | Thu | 18:30 - 21:30 | Online |
Instructor
Wayne Arondus
Course outline
Cost
$565.64
Important information
- Internet delivery format.
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
-
Important Information: 1. Internet delivery synchronous course format. This is a synchronous course that will be held entirely online. You will be required to log in to the course each week at a specific time. Please check the registration page for the specific dates and times. 2. Learning formats include: online asynchronous, online synchronous, hybrid/blended, and in-class. Please read the information at this link to understand the differences between learning online versus in a real physical classroom. www.bcit.ca/distance/distance-course-formats/ 3. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
Status
In Progress and Full
This course offering is in progress and full. Please check back next term or subscribe to receive email updates.
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
- Operations Management (Industrial Engineering Option)
Certificate Part-time
- Operations Management (Materials Management Option)
Certificate Part-time
- Quality and Process Management
Certificate Part-time
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Programs and courses are subject to change without notice.