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