Training: Inventory Management
Fundamentals of Inventory Management
Smart Inventory Management Workshop
1. Fundamentals of Inventory Management (2 days)
Subject Overview
As more and more industry sectors enter a time of considerable uncertainty, driving efficiency and profitability within business has never been so challenging. Consumer appetite for new features, lower costs, higher quality and shorter lead times are magnifying the problems of less responsive and longer supply chains caused by the need to move the supply base offshore. To respond to these increased challenges and to maintain market share, companies must quickly adapt to these changes to become more efficient. Companies who recognise this volatility and the importance of meeting tomorrow’s challenges are rapidly re-engineering their businesses - but their new look businesses require different management and planning techniques. The traditional business practices, therefore, are being challenged and proven processes are being questioned. The goal is to increase operational efficiency and many businesses will need to adapt or risk losing out as the industry is shaken up.
Course Objectives:
The Fundamentals of Inventory Management is a 2 day course that has been designed to:
• Introduce the basic principles of inventory management & optimization
• Resolve the eternal (yet conflicting) balancing act between availability and investment
• Introduce “best practice” strategic & tactical activities dealing with the effective management of inventory.
Course Modules:
• Inventory Management Concepts
• Item Classification
• Forecast Management
• Lead Time Management
• Stockholding Policy Application
• Order Management
• Excess Stock Management
• Management Review
Who Should Attend?
Fundamentals of Inventory Management workshops are designed to deliver value to:
• Newcomers to the inventory planning & optimization management fields
• Experienced professionals who want to expand their knowledge of the field
• Executives from other corporate areas who've been placed in positions that now have inventory investment or service level objectives under their responsibility
How you will benefit
The 2 day course will help you to learn how to:
• Improve stock holding policies in the shake up of you business
• Reduce inventory levels and therefore associated holding costs
• Increase stock turns
• Ensure warehousing space is providing the optimum level of efficiency and that stock of positioned to provide maximum availability
• Improve stock visibility throughout the supply chain
• Consistently meet service performance in line with customer expectation.
The solution to meeting these needs versus the cost challenge lies in controlling the day to day replenishment of those line items which make up your product range.
For further information about the course, please contact
Richard Mobbs at Barloworld Optimus UK on +44 870 442 2352, or email: richardm@barloworldoptimus.co.uk or
Keith Venter at Barloworld Optimus USA on +1 630 574-0795, or email: KeithV@optimus.barloworld.com
2. Smart Inventory Management Workshop (3 days)
Course Objectives:
The objective of the Smart Inventory Management Workshop is to help ensure that Barloworld Optimus clients are getting the maximum benefit from Optimiza in their business. The 3 day workshop will re-introduce the basics of inventory optimisation and provide a facilitated forum for how these basics are practically implemented in different industries. The Optimiza software will be used by the delegates during the three days to experiment with new or unfamiliar functionality and discussions will be encouraged on how inventory management processes are best implemented.
Course Modules:
The workshop structure will follow the key sub-processes in ensuring good inventory management listed below but the emphasis will be on practical application and sharing experience.
• Inventory Management Concepts
• Item Classification
• Forecast Management
• Lead Time and Supply Risk
• Inventory Policy
• Order and Supplier Management
• Excess Stock Management
• Management Review
Who Should Attend?
The Smart Inventory Management Workshops is designed to deliver value to:
• Experienced Optimiza users who want to expand their knowledge of Optimiza and the inventory management and supply chain field in general
• Newcomers to the software who want to know how it can be best used in their environment.
• Managers who want to challenge their current inventory management processes.
How you will benefit
The 3 day workshop will help you:
• Formulate and/or improve strategic stock holding policies in your business
• Provide a better understanding of how to structure inventory optimisation processes to best use Optimiza.
• Understand how new Optimiza functionality in areas such as forecasting and constrained ordering could benefit your business.
• Get practical advice from other delegates and Barloworld Optimus consultants on how to meet your particular inventory management and supply chain challenges.
• Ensure that the daily replenishment decisions (which are the direct drivers of inventory investment, availability & stock balancing) are optimal
For further information about the course, please contact
Richard Mobbs at Barloworld Optimus UK on +44 870 442 2352, or email: richardm@barloworldoptimus.co.uk or
Keith Venter at Barloworld Optimus USA on +1 630 574-0795, or email: KeithV@optimus.barloworld.com