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Inventory Planning and Control Training

By: London Corporate Training

United Kingdom

19 - 23 Nov, 2012  5 days

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Who should attend? This course is suitable for procurement; warehouse and supply chain practitioners, commercial management and inventory managers, who are looking to obtain leading edge inventory efficiencies and competitive edge for both themselves and their organisation. Course objectives • To appreciate the impact of inventory upon the profitability of the organisation • To effectively record, manage and measure inventory costs • To apply category management thinking • To understand and apply: MRP, JIT, Kaizen, Kanban strategies • To harness data to: manage and influence demand curves, plan effective resource utilization and reduce cost • To establish effective inventory management controls • To implement and report on KPI performance • To appreciate the importance of audit trails and transparency • To apply risk management techniques to inventory management • To take away specific action plans to further develop their role and organisational benefit Course content Overview of the inventory management function • The role and impact of inventory management within the organisation • Key objectives and responsibilities of Inventory management specialists • The “inventory management compassâ€Â – ensuring SMART objectives – historic, current state, future state • Combining effective inventory management with excellent customer service – both internal and external • Global best practice – including category management methodology Inventory classification and audit • Effectively classifying inventory – strategic v tactical, rotation speed • Aligning inventory classifications with organisational and stakeholder needs • Ensuring accurate records of inventory • The Inventory management roadmap – full end to end process map • Establishing effective audit trails and processes Effective forecasting and peak demand planning • Effectively forecasting demand – utilizing supply chain data mining and category management approaches • Peak demand planning – seasonalisation, moving average, exponential smoothing • Influencing and controlling demand to maximize operational and financial resource efficiency • Establishing process controls – including: min max, minimum order quantity, safety/buffer stock control • Effective value judgement – cost benefit analysis of volume discount v internal cost/operational impact Inventory cost reduction techniques • Establishing strategic inventory cost reduction – step targeting + continuous improvement • Implementing leading edge strategies – MRP, JIT, Kaizen, and Kanban • Obsolete and surplus stock management – establishing data driven business cases • Establishing key cost reduction enablers within the supply chain – pack sizing, identification criteria, process cost reduction • Effectively managing inventory risk Performance management • Establishing key performance metrics – Operational, Financial, Compliance, and Environmental • Effective KPI reporting • Engaging staff colleagues in progress reporting – including cascading, visuals, team motivation • The effective inventory specialist • Delegate action planning – participants will create specific departmental and individual action plans to implement the learning outcomes from the course

London, UK Nov 19 - 23 Nov, 2012
£2,250.00 + VAT (20%)
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