Supply Solutions - Training Course (Approaches to Inventory Management)

WHO SHOULD ATTEND

Delegates from inventory rich environments with responsibility for managing inventory and for setting up inventory reduction programmes.

Attendees will gain an overview of inventory management and its importance in modern day supply chain management approaches. They will recognise the impact of inventory on operational costs and have a sound understanding of the main techniques used by organisations to minimise this impact whilst preserving world class levels of service

DURATION/FEES

A 2-day single manned course.

£900 per man-day exclusive of travel and subsistence expenses, which will be charged at cost*.

All exclusive of VAT charged at the rate applicable on date of invoice.
Can be run over a two or three week cycle - simply ask when booking.

*Prices are for the delivery of the course and not per delegate.

COURSE TUTORS

Mike Woods, John Allen, Andy Newstead

INTERESTED??

E-mail Mike Woods for more information

TRAINING COURSE:
APPROACHES TO INVENTORY MANAGEMENT

COURSE OBJECTIVES

To develop understanding of current best practice in category management. To demonstrate the project management of its introduction as a procurement strategy.

COURSE CONTENTS

Objectives of inventory control and materials management

The holding costs of inventory
Total cost of ownership models of stock holding
Stock valuation systems (FIFO, LIFO etc)
Stock checking and perpetual inventory management systems

Aggregate inventory management
Stock categorisation,
Applying ABC analysis, rationale, methodology, other classification characteristics
Managing critical and ‘must have’ parts with special characteristics

Dependent demand inventory management techniques
What is dependant and independent demand
MRP I and II
JIT (including Kanban)
EDI / E-commerce techniques for inventory control

Independent demand stock control models
Re-order point control model for managing MRO items
Fixed quantity, variable interval systems.
Using the Economic order quantity and economic batch quantity models to determine stock levels
Fixed interval variable quantity systems (scheduling systems)
Stock levels and IT

Determining and managing customer service levels
Understanding customer satisfaction and service requirements throughout the supply chain
Statistical methods for determining safety stock and service level

Inventory reduction techniques
The main reasons for holding stocks
An overview of techniques to remove the obstacles to inventory reduction
Consignment stocking
Pipeline inventory stocking
Vendor managed inventory
Direct to line supply
Cross docking

The role of purchasing in inventory reduction
Lead time management and reduction
The flywheel effect of “pull” operations
Supportive supplier relationships
Paying attention to logistics

PRODUCTS & SERVICES

PRINT THIS PAGE..... SEND THIS PAGE
TO A FRIEND