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MGMT 5003

This course looks at the complexity of matching the optimal inventory and materials management to ensure that the proper balance between production and capacity are reached. Students examine the inter-relationship with planning, procuring, storing and providing the appropriate material of right quality and quantity at the right place and time. The importance of forecasting is discussed at length so the business’ capital is properly dispersed and not tied up in stock. The cost of storing, security, handling freight along with the risk of damage, pilferage and obsolesce all impact the balance of inventory and material management.