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Biotility: Introduction to Inventory Management

Provides learners with an understanding of the principles of inventory management.

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About this Course

Inventory is a strategic asset for organizations. The effective management of inventory can minimize an organization’s spending while dramatically increasing its profit. This course explores how to use data to manage inventory in uncertain environments, how to set inventory levels based on customer service requirements, and how to calculate inventory for products that have short sales cycles. It offers proven strategies for gaining more space in the warehouse, ordering the quantities actually needed, and ensuring that inventory arrives on time.

Language Availability: English

Suggested Audiences: Clinical Laboratory Administrators, Institutional Officials, Inventory Control Supervisors, Logistics Managers, Operations Directors, Procurement Managers, Research Administrators, Supply Chain Managers

Organizational Subscription Price: $675 per year/per site for government and non-profit organizations; $750 per year/per site for for-profit organizations
Independent Learner Price: $124.76 per person

Course Content

Key Terms and Tradeoffs

This module identifies the importance of inventory management and defines key terms. It also provides the rationales for maintaining and not maintaining inventories.

Recommended Use: Required
ID (Language): 22252 (English)
Author(s): Wayne Hamm, MA - Independent Consultant; Tammy J. Culp, CPIM (APICS), CTBS (AATB) - RTI Surgical

Forecasting, Flow, and Costs

This module distinguishes between types of inventories and defines finished good inventories. It discusses inventory forecasting and explains inventory transactions and flow. The module also compares five types of inventory cost and inventory analysis.

Recommended Use: Required
ID (Language): 22253 (English)
Author(s): Wayne Hamm, MA - Independent Consultant; Tammy J. Culp, CPIM (APICS), CTBS (AATB) - RTI Surgical

Lean Replenishment and Continuous Improvement

This module compares and contrasts inventory replenishment systems. It details the Economic Order Quantity (EOQ) model, describes methods of cycle counting, and discusses differing inventory management philosophies. The module brings lean manufacturing principles to the concrete tasks of inventory management.

Recommended Use: Required
ID (Language): 22254 (English)
Author(s): Wayne Hamm, MA - Independent Consultant; Tammy J. Culp, CPIM (APICS), CTBS (AATB) - RTI Surgical

FAQs

Who should take Biotility: Introduction to Inventory Management?

Anyone interested in inventory management can benefit from this course. Whether you are a supply chain professional, business owner, or student, understanding inventory management is crucial. It helps optimize stock levels, reduce costs, and improve overall efficiency.

How does Biotility: Inventory Management complement other CITI Program courses?

This course provides learners with practical insights into efficiently maintaining an organization’s strategic asset. For clinical and laboratory researchers, this course complements CITI Program’s Good Laboratory Practice (GLP), Biotility: Foundations of Lean Manufacturing, Summit: Clinical Research Laboratory, and Summit: Clinical Research Pharmacy courses.

How long will it take to complete the course?

Completion of all module lessons and corresponding learning assessments should take between 60 and 75 minutes.

Is the course eligible for continuing medical education credits?

The course does not currently have CE/CME credits available.

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