Advanced Forecasting and Inventory Management

Organizations are much healthier and more productive when they have effective warehouse and inventory operations that provide superior customer services and protect availability.  By the end of this workshop participants will be able to:

* Forecast demand and control lead time

* Reduce inventory movement and surplus

* Classify, count, reduce inventory and eliminate wasteful costs.

CONTENT:

*Forecast Overview

· Forecasting that works

· New rules for effective inventory control

· Integrating inventory plans with business plan

· Forecast Accuracy measurements

*Creating useful Inventory Forecasts

· Projections for capacity and load planning

· Aligning systems settings with inventory projections

· Monitoring inventory flow against the forecast

*New Roles for Inventory Control Personnel

· Effective Expediting

· Developing Logical Ordering Strategies

· Reviewing every item, every day in a weekly work plan

*Distribution Requirements Planning (DRP)

· Supply chain management

· Impact of warehousing activities

· Benchmarking world class inventory management system

*Advanced Inventory Control Strategies

· Evaluation of price breaks

· Automating replenishment orders

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.