- International Fees
International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
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
Domestic fees
$580.18
Course offerings
Spring/Summer 2024
Below is one offering of OPMT 1192 for the Spring/Summer 2024 term.
CRN 67364
Duration
Wed Apr 10 - Wed Jun 26 (12 weeks)
- 12 weeks
- CRN 67364
- Domestic fees $580.18International fees are typically three times the amount of domestic fees.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 10 - Jun 26 | Wed | 18:30 - 21:30 | Burnaby SE12 Rm. 309 |
Instructor
Wayne Arondus
Course outline
Domestic fees
$580.18
Important information
- International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
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:
- Indicates programs accepting international students.
- Indicates programs with a co-op option.
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.