TDW 1051 - Intro to Inventory and Demand Management

1. Introduction to Inventory Management
   1. Describe the four basic types of inventory
   2. Describe the concept of ABC inventory system
   3. Define the ABC inventory matrix
   4. Describe inventory turnover and how it can be used to manage inventory
   5. Describe the importance of cycle counting
2. Introduction to Demand Management
   1. Describe the critical importance of outbound-to-customer logistics system
   2. Describe the growing need for effective demand management
   3. Describe the types of forecasts that help the demand management process
   4. Understand the basic principles underlying the sales and operations planning process
   5. Identify the key steps in the order fulfillment process and how it is related to demand management
3. Process within Inventory and Demand Management
   1. Describe what is an electronic product code (EPC)
   2. Describe how RFID can be used to manage inventory
   3. Explain why item tagging is more expensive than case-level tagging in RFID
   4. Describe big data and the process that firms use it to make better decisions
   5. Explain the purpose of EOQ and the ROP, the assumptions of the EOQ model and how They can be used together and the two major costs considered in the EOQ model
   6. Explain why inventory management is important to SCM
   7. Describe the difference between annual physical inventory count and cycle counting
   8. Describe Near Field Communication (NFC), its relationship with RFID and its applications