Inventory Management

The "Inventory Management" course is designed to provide participants with a comprehensive understanding of inventory principles and best practices. Over two days, participants will explore strategies for efficient inventory control, demand forecasting, and optimization. The course aims to equip participants with the skills needed to enhance inventory accuracy, reduce carrying costs, and improve overall supply chain efficiency.

Statistics:

The National Retail Federation reports that inventory shrinkage, including theft and administrative errors, costs retailers billions of dollars annually.

According to a study by the Inventory Institute, efficient inventory management can lead to a 10-15% reduction in carrying costs.

Course Objectives:

Upon completion of the course, participants will be able to:

• Understand the importance of effective inventory management in supply chain operations.
• Develop strategies for accurate demand forecasting and inventory control.
• Implement best practices for optimizing inventory levels and reducing carrying costs.
• Enhance overall supply chain efficiency through effective inventory management.

Benefits of Attending:

For Participants:

• Acquire a deep understanding of inventory management principles and techniques.
• Develop practical skills to optimize inventory processes and advance their career.
• Network with industry professionals for knowledge exchange and career growth.

For Organizations:

• Improve overall supply chain efficiency and reduce carrying costs.
• Enhance customer satisfaction through accurate and timely order fulfillment.
• Strengthen inventory management capabilities for increased competitiveness in the market.

Course Outlines:

Day 1: Module 1 - Fundamentals of Inventory Management

• Introduction to Inventory Management: Understanding the role and significance in supply chain operations.
• Inventory Types and Classifications: Differentiating between various types of inventory.
• Inventory Control Techniques: Implementing strategies for accurate control and tracking.
• Demand Forecasting: Methods and tools for forecasting demand accurately.

**Day 1: Module 2 - Efficient Demand Planning