The seminar provides practical skills to eliminate wasteful costs and avoid those internal problems that limit performance. Delegates will be able to understand and implement the “world class” tools for managing inventory in the supply chain

Benefits to your Organization

• To Examine the link of inventory in the company supply chain operations and activities
• To Analyse the key areas of operation
• To Identify and Understand key performance indicators
• To Succeed in improving operations

Benefits to you

• How to analyse stock and inventory
• How to make productivity improvements
• Understand the role of inventory in the supply chain
• Balancing cost and service requirements
• A framework for continual improvemen
• Best in class practices

• Those new to managing inventory
• Those non inventory people who need to gain an awareness of the issues and key drivers of stock control operations
• Inventory, Stock, Supply Chain, Logistics,  Warehouse and Distribution Professionals  

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include;

• Lectures
• Workshop & Work Presentation
• Case Studies and Practical Exercise
• Videos and General Discussions

Day one

Inventory and the supply chain

• Inventory management definition
• Types of stock
• Demand amplifications
• Demand replenishment in networks
• Managing the flows
• Type I and II supply chains
• The Supply Chain Rules
• Inventory and Statistics
• Concept of service level

Day two

Inventory Key concepts

• Key Component: Demand Analysis
• Key Component: Demand Forecasting
• Key Component: Supply Lead Time
• Key Component: Cost & Benefits
• Inventory benefits
• Inventory polices
• Inventory in organizations

Day three

Inventory replenishment methods and systems

• Basic mechanics of inventory systems
• The stock time curve
• Stock components
• Stock investment
• Free stock
• Fixed order quantity systems
• Fixed order time cycle systems
• Requirements planning systems

Stock Control, checking

• Inventory receipts
• Identifying inventory
• Surplus and obsolescent stock
• Stock control and records
• Stock checking programs
• Reviewing current procedures and polices

Day four

Inventory performance

• Inventory Assessment
• Assessing the stock level
• Models for implementing inventory control
• Determining stock targets
• Inventory questions
• Inventory KPI’s in warehouses/stores

Inventory Strategies

• Push/pull
• Quick response (QR)
• Efficient consumer response (ECR)
• Collaborative planning forecasting and replenishment (CPFR)
• Lean and agile approaches
• Quality Management
• Postponement
• Cross Docking
• Consolidation
• Vendor Managed Inventory (VMI)
• Consignment stocking
• Co Managed Inventory (CMI)
• Direct product profitability (DPP)
• Economic value added (EVA)
• Collaborative supply chains

Day five

Inventory Improvements

• The Supply Chain and the Theory of Constraints
• Practical inventory improvements
• Keys to reducing stock levels
• Rules for planning inventory
• Model for planning inventory

RECTUS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.