Course Code: RTMG201 Course ID: 4142 Credit Hours: 3 Level: Undergraduate
Retail inventory management is a strategic factor in retail environment success. In this course students review Retail inventory management processes and methods used to keep track of stock. These methods control ordering, shipping, receiving, tracking inventory, retail turn-over, and storage. Retail inventory management is a significant factor in managing a business’ profits at a steady margin as well as reducing theft and loss of inventory. Many retail businesses lose money every year because they do not have a successful inventory management system in place. Students will review the following functions for a retail business: Tracking and managing the inventory for the business to keep up with store markdowns; Evaluating how well groups of products perform in sales; Provides analysis for comparison shopping with competitors; Collecting data on the sales and inventory of individual stores using SKU; and Methods to accurately review inventory. Students will distinguish between large and small retail organizations, and variations in inventory management based upon the nature of the inventory (perishable, seasonal, fashion, etc) An analysis of skills, tools, and resources required for effective inventory management will be reviewed, as well as strategies for keeping inventory current and ways to identify and mitigate inventory management challenges and risks in order to support retail organization profitability.
|Registration Dates||Course Dates||Session||Weeks|
|12/28/20 - 06/04/21||06/07/21 - 08/01/21||Spring 2021 Session D||8 Week session|
|02/22/21 - 07/30/21||08/02/21 - 09/26/21||Summer 2021 Session I||8 Week session|
After successfully completing this course, you will be able to:
1.Define the basics of retail inventory management functions and principles within a small/large organization.
2.Examine the skills required of retail inventory managers to maintain a strategic capacity level.
3.Assess the impact poor inventory management can have on an organization’s bottom line.
4.Evaluate various retail inventory management methods or approaches to production process mapping.
5.Compare the relationship between global sourcing and logistics distribution.
6.Analyze total quality management and how quality is measured.
7.Critique the reasons an organization might outsource inventory capabilities.
8.Recall important attributes of a lean retail inventory management supply chain.
See Lessons area for additional reading requirements.
See Lessons area for additional resources.
|Book Title:||Essentials of Inventory Management, 2nd ed.-- e-book available online, please visit http://apus.libguides.com/er.php to locate the course eReserve.|
|Publication Info:||American Management Association|
|Book Title:||Various resources from the APUS Library & the Open Web are used. Please visit http://apus.libguides.com/er.php to locate the course eReserve.*|
Not current for future courses.