This is an intensive workshop for those who want to understand and implement the essential tools for managing inventory in the supply chain Participants are shown how to evaluate procedures and make needed changes to methods to improve customer service whilst achieving restrictions in inventory; eliminate wasteful costs; avoid internal problems that limit performance and obtain added value for money.
The Supply Chain
- Benefits of supply chain approach
- Integrating the supply chain
- Relationships and material flows in the chain
- Supply/demand variables
- Dependent and independent demand
- ABC analysis
- Inventory costs and service
- Why hold stock?
- Inventory costs
- Inventory and statistics
- Service levels from inventory
Replenishment Methods for Independent demand
- Economic order quantities
- How much to order
- Minimum=maximum methods
- Continuous review and periodic review methods
Forecasting and stock control
- Sales forecasts
- Statistical forecasts
- When forecasting is easier or harder
- Different methods
- Understanding all involved
- How do we get inaccuracies?
Model for Planning Inventory
- Managing inventory by value and by volume
- Model for inventory planning
- What to implement now.
FOR WHOM: Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.
This course is being run by ALPHA PARTNERS in collaboration with THE INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIA, LAGOS MAINLAND DISTRICT.