In demand planning estimates of customer requirements and capacity limitations use an aggregate plan to match the required resources. The demand plans of the organization will link strategic goals and objectives with the production plans. This course explains and discusses various actions due to the planning horizon when managing demands for products to manufacturing and inventory.
Basic Purchasing is a course for those making purchasing decisions in their everyday work and wants to create a structure into their purchasing process. For those who are planning a career in sourcing, this course is a good first step in the ongoing competence development. It will give a basic knowledge of purchasing techniques, logistics, and business economics. The course concerns good purchasing policy, factors in selecting suppliers and Price Negotiation.
Inventories are materials and supplies carried on hand either for sale or to provide material or supplies to the production process. They are part of the planning process and provide a buffer against the differences in demand rates and production rates. The overall objective of an inventory is to ensure that goods arrive in the desired quantity when they are needed.