Managing Inventory
- Introduction to inventory management principles.
- Learn about inventory holding costs and demand patterns.
- Understand world-class inventory management performance levels.
- Explore various inventory management approaches like MRP, ERP, JIT.
- Target audience: supply chain specialists focusing on inventory management.
Overview
This 1-day course focuses on inventory management principles and techniques. Participants will learn about inventory holding costs, demand patterns, flow control, and various inventory management approaches like ABC analysis, MRP, ERP, and JIT/Kanban. The course aims to help supply chain specialists enhance their understanding of inventory management's impact on operational efficiency and input costs.
Who should attend
Supply Chain Specialists
Course Content
Course duration: 1 Day
What is inventory?
The holding cost of inventory
World class inventory management performance levels and how they are achieved
Types of inventory demand pattern and how these impact the demand for inventory
Flow control
Mass manufacture
Mass customisation
Batch manufacture
MRO items
Using ABC analysis to select inventory management approaches
Independent demand
Dependent Demand Inventory systems
MRP
ERP
JIT / Kanban
Independent Demand Inventory systems
Fixed Lot order
Re-order point control
Economic Order Quantity
Re-order quantity
Independent demand service levels
Current best practice in the set up and management of supply chains
Lean supply techniques
Demand management
Virtual demand management
Course objectives
This programme will introduce delegates to the essential principles underpinning inventory management
Who should attend?
Teams of supply chain specialists who have recognised the importance of inventory management to the efficient performance of their operation and the impact that it can have on input costs.
Duration / Fees
A 1-day single manned course
