This program has been developed to communicate industry best practices in the area of inventory management to Supply Chain professionals.
It aims to provide the necessary technical background to enable attendees to develop & implement best practices & procedures in materials management into their own business units. It will holistically present the best practices and explain the concepts and calculations for optimizing your inventory parameters.
We preach true inventory optimization - help you to establish the right parameters your process and systems may need to run a lean machine with just optimal inventories to deliver the service and fill rates.
This is a hands-on, practical workshop with many exercises and case studies and excel-based work out problems. Every planner and material manager will leave the training hall with a diverse skill set to do their day to day jobs.
Who Should Attend?
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SCM Process - Overview of Demand/Supply planning –
Introduction to Inventory Management Principles – Why carry inventory?
Product Segmentation and ABC analysis –
Measurement and KPIs Forecast Error, Customer Service and Inventories.
Digital Supply Chain and its impact on Inventory Management
Economic Order Quantity and Purchase Quantity Discounts
Exercise: Deciding to take a Purchase Quantity Discount
Inventory Optimization and Management- Safety Stock
Exercise: Service percent effect on Safety Stock
Inventory Optimization and Management- Min Max Models
Case Exercise: On Safety Stock, Min-Max, and Reorder Point.
Work-site Inventory Management Techniques
Exercise: Kanban Calculation exercise
Workshop cost includes two days of interactive learning, breakfast lunch and refreshment breaks. Attendees are responsible for their own accommodation at the Hilton Burlington.
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