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Home * Courses * Modular Programmes * Inventory Management

Effective and efficient inventory management is key to all kinds of businesses. Too much or insufficient inventory can adversely impact the profitability of a company. The essence of inventory management is to decide when, where and how much inventory should be kept for which customer, in order to balance the trade-off between costs and service level. This course is tailor-made for companies to manage their inventory effectively and efficiently. The course covers the fundamental concepts, models and principles of inventory management. Through various industry cases and hands-on exercises, the course equips the participants with knowledge, techniques and skills vital for inventory management.

    Since 3 November 2014, electronic certificates (e-Certs) are issued by SkillsFuture Singapore (SSG) to participants who have attended and attained competency in the Singapore Skills Framework training modules. Visit here for more information about the e-Cert.

    Module | Inventory Management

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    This module is designed for Supply Chain Management such as supply chain managers, purchasing managers, sales managers and warehouse managers and other professionals involved in planning, inventory management, procurement, and materials management from Precision Engineering, Electronics, Aerospace, Automotive, Retail, Food & Beverage as well as services industries.

    • Designed specifically based on local industry demand
    • Highly practical and intensive
    • Latest knowledge and up-to-date technology
    • Case studies highlighting industrial application
    • Expert trainers in the field with industrial experience

    Fundamental Concepts, Models, Principles of Inventory Management
    • Lot sizing models with decision rules
    • Deterministic inventory models with optimal decision rules
    • Probabilistic inventory models with optimal decision rules
    • Dynamic programming in inventory management
    • Case studies and hands-on exercises

    Optimal Demand Forecasting and Inventory Network Optimisation

    • Optimal demand forecast and intelligent forecasting system
    • Independent and dependent demand inventory systems
    • Inventory network planning and optimisation
    • Case studies and hands-on exercises

    Dr Yuan Xue Ming is a Research Scientist from the Singapore Institute of Manufacturing Technology (SIMTech), A*STAR with more than 20 years’ academic and industrial experience in Supply Chain Management, Predictive Analytics, and Stochastic Models and Algorithms. He has held various positions in China, France, Hong Kong and Singapore. He was appointed as an Associate Professor of Chinese Academy of Sciences in 1994, and an Adjunct Associate Professor of the National University of Singapore in 2007. He has been teaching this Inventory Management module since 2009. He has also been teaching Logistics and Supply Chain Management Course and Inventory Management Course for both Undergraduate and Postgraduate levels at the National University of Singapore.

    View Dr Yuan Xue Ming's researcher portfolio here.

    Dr Ng Huey Yuen is a Research Scientist from the Singapore Institute of Manufacturing Technology (SIMTech), A*STAR with technical knowledge in inventory management and business model innovation. He is an ACTA-certified trainer, and the first inventor of the Digital Transformation & Innovation™ (DTI™) Methodology. He holds a PhD in Engineering (Manufacturing) from the University of Cambridge, and a BEng (Hons.) in Electrical & Electronics Engineering from Imperial College London. He was awarded the National Science Scholarships in 2008 and 2012.

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    • Applicants should possess a degree in any discipline or a diploma with a minimum of 3 years of related working experience.
    • Proficiency in written and spoken English.

    Module Names

    Full Course Fee (before SkillsFuture Funding and GST)

    Type of Sponsorship
    Inventory Management


      Funding Schemes

      Please note that fees and funding amount are subject to change.

      For more information on the SkillsFuture funding you are eligible for, please visit


      Singapore Institute of Manufacturing Technology
      2 Fusionopolis Way Innovis Level 8
      Singapore 138634

      How to Reach SIMTech@Fusionopolis Two
      Visitor Parking at Fusionopolis Two

      This programme is associated with the below SIMTech centre. Click on the image to visit its website.

          For technical enquiries, please contact:

        Dr Yuan Xue Ming,

          For general enquiries, please email to


        PE WSQ Programme in Inventory Management

        Module Name

        Skills Course Reference Number

        Schedule Dates



        Inventory Management (42 hours)

        CRS-Q-0033817-PRE 7 Oct 2019 - 27 Nov 2019

        Click here to visit the programme webpage.

        Click here to view/download the programme collaterals.

        Click on the schedule dates to view the module calendars.
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        Only attendees will receive the email link to access the photo album from GC2019.


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