Advanced Inventory Control

DESCRIPTION

Advanced inventory control is a process that uses data to make better decisions about inventory. It helps you manage levels and costs, often in conjunction with demand planning. Advanced inventory control can also be used to help forecast demand, reduce excess inventory and even optimize the flow of materials through your supply chain.

PURPOSE

• Reduce your cost of inventory obsolescence
• Become truly responsive to your customer’s real needs
• Narrow the gap between sales and stock replacement
• Determine your material status and inventory

OUTLINE

1. The Effect of Inventory Size on The Profitability of a Business
2. Assessing How Much Inventory You Have
3. Key Inventory Indicators
4. Using Lead Times to Calculate When to Order Stocks
5. Calculating Safety Stocks
6. Economic Order Quantity Analysis
7. Calculating Ordering Costs
8. Calculating Holding Costs
9. Profiling Your Inventory
10. Price Break Analysis
11. Ranking Analysis
12. Counting Your Inventory
13. Inventory Control Tools
14. Pareto Principle
15. ABC Inventory Control
16. Cycle Counting
17. Applying Lean Methods to Inventory
18. The Principles of Just-In-Time (JIT) Inventory Management
19. Forecasting Your Inventory

TRAINING METHOD Presentation Discussion Case Study Evaluation   FACILITIES Training Kit Handout Certificate Lunch + 2x Coffee Break Souvenir