On completion of this module, learners will be able to explain methods of inventory management, inventory analysis and the concept of whole-life asset management cost, from idea through to disposal.
Whole-life asset management takes into account the total cost of a product or service, from idea through to disposal including purchase, hire or lease, maintenance, operation, utilities, training and disposal. It is important for those involved in procurement and supply to take these elements into consideration when assessing options of buying, renting or leasing equipment. Although costly, there are a range of factors organisations assess to determine the approach to inventory, and the management and control of inventory is an important driver for organisational success.
This module is designed for those with responsibility for the whole-life management of assets and enables learners to analyse methods for inventory movement and control and to consider the concept of whole-life asset cost.