Managing Inventory Effectively

Inventory management techniques an intensive four day workshop, for those who want to understand and implement the essential tools for managing inventory in the supply chain.  Participants are shown how to evaluate procedures and make needed changes to methods to improve customer service whilst achieving reduction in inventory, eliminate wasteful costs, avoid internal problems that limit performance and obtain added value for money.

CONTENT:

Relationships and Material flow in the Chain

· Integrating the Supply Chain

· Benefits of Supply Chain Approach

· Lead-times

· Power of Information

Inventory Costs and Services

· Inventory Costs

· Cost /service trade offs

· Service levels from inventory

· Product coding

· Supply/demand variables

Replenishment Method for Independent Demand

· Economic order quantities

· Time bid methods

· Minimum-maximum methods

· Compare continuous review and periodic review methods

Stock Coding and Recording

· Different methods

· Separation of power

· Understanding of all involved

· Checklist to help to decide the best option

· How do they get inaccuracies?

Model for Planning Inventory

· Managing inventory by value and by volume

· Sales forecasts

· Statistical forecasts

· Model for inventory planning

FOR WHOM: Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Date:

1ST BATCH                        28th – 31st May, 2019                                     

2ND BATCH                       19th – 22nd November, 2019