Inventory Management Made Simple: EOQ, ROP, EPQ, Cycle Counting, ABC Analysis & More | Chapter 12 - Inventory Management Explained: Concepts, Types, and Costs

Learn the fundamentals of inventory management in operations and supply chain management in this comprehensive overview led by Operations University instructor Brent Bolton. This video explains what inventory is, why it’s costly, and how organizations balance inventory investment with customer service. You’ll explore the major types of inventory, core inventory functions, key inventory costs, and the difference between independent and dependent demand. This foundation is essential for understanding EOQ, MRP, forecasting, and Lean inventory strategies. 👉 Get Certified (Lean Six Sigma) Watch the full Lean Six Sigma playlist, then complete your certification at OperationsUniversity.org to earn your Lean Six Sigma certificate. 💰 Advance Your Credentials Certification & Pricing = Yellow Belt $99 • Green Belt $499 • Black Belt $899 — or all 3 for $1,199 (save when purchasing together). Employer packages: Bulk enrollments & reporting available. 💡 What You’ll Learn in This Video: • What inventory is and why it matters • The true cost of holding inventory • Raw materials vs. WIP vs. finished goods • Inventory’s role in customer service • Key inventory management costs • Independent vs. dependent demand 📢 Call to Action ✅ Subscribe for more operations & supply chain content ✅ Visit OperationsUniversity.org to get certified ✅ Share with students, planners, and supply chain teams #InventoryManagement #SupplyChain #OperationsManagement #LeanSixSigma #MRP #DemandPlanning