Effective Inventory Management
Find new ways to reduce costs while still meeting or exceeding your customers expectations. This seminar provides a closer look at using lean tools and techniques in inventory control and optimization with emphasis on forecasting, calculation of economic order quantities and determining appropriate safety stocks.
Inventory control and management aims to maximize the level of customer service i.e. have the right goods, in sufficient quantities, in the right place and time while minimizing the cost of providing a certain level of customer requirements. This seminar provides a closer look at using lean tools and techniques in inventory control and optimization with emphasis on forecasting, calculation of economic order quantities and determining appropriate safety stocks.
Explore the Lean methods for saving money, satisfying customers and speeding up the flow of inventory. This is the advanced companion module of the very popular Inventory Essentials Module.
"Effective inventory management allows you
to meet or exceed your customers' expectations
of product availability while carrying the quantity that will maximize your net profits."
How You Will Benefit
- Reduce your cost of inventory obsolescence
- Become truly responsive to your customer's real needs
- Make your scheduling more efficient
- Narrow the gap between sales and stock replacement
- Fine-tune your record-keeping accuracy
- Determine your material status and inventory
What You Will Cover
- The strategic role of inventory management
- Establish the optimal inventory level
- Inventory planning and replenishment
- Inventory accuracy and audits
- Manage, measure and report inventory
- Inventory forecasting and demand management
- Lead-time analysis and reduction
Training Methodology
The seminar uses live-facilitation, lectures, visual presentations, case studies, group discussions and workshops.
Venue
LI Training Room, 204 Languages Internationale Bldg, 926 Arnaiz Ave., Makati City, Philippines
Who Should Attend
Distribution and inventory control professionals, manufacturing and production control professionals, industrial engineers, plant managers, material and purchasing managers, production, warehouse and distribution supervisors, and customer/technical service managers.
What you will cover
- Achieving Effective Inventory Control
- The effect of inventory size on the profitability of a business
- Ways to reduce inventory
- The principles of Just in Time (JIT) Inventory Management
- Prioritizing inventory according to need (the process)
- Analyzing Inventory
- ABC Inventory
- Paretto Principle
- Economic Order Quantity
- Price Break Analysis
- Ranking Analysis
- When to Order an Item
- Determining Safety Stocks
- The cost of Inventory
- Effective Inventory Analysis
- Determining your Customer Service Levels
- Improving Inventory Control thru Improved Forecast Accuracy
- Moving Average Forecasting
- Improving Forecast Accuracy thru using weights
- Forecasting using Linear Regression
- Maintaining an Efficient Inventory Control in the Warehouse
- Cycle counting
- Maintaining Stock in other branches
- Maintaining Your Physical Plant thru 5S checklists
- Achieving increased productivity thru VSM
Here is what they say about the seminar:
“We now learn how to forecast & some formulas to correct our inventory, i.e., reorder point, eoq, inventory cost. We can apply 5S in our company. Big impact as a warehouseman in learning all the techniques in inventory. Most valuable was the workshop on Value Stream Mapping, focusing on the variation on transition and task takt time.”
BV de Leon Jr.
Petron Corporation
“Yes, I can now understand how to manage MRP, the benefits of 5S, not only for the company, but also for self.”
Marylene Reyes
Henkel Phils. Inc.
“Yes, all the data are valuable and are all interconnected.”
Anthony Jay R. Ricafort
Petron Corporation
“Yes, it helped me to become more aware on the inventory. Value Stream Mapping & Forecast Accuracy are needed by our company. It's not only the knowledge & tools we learned, but also on the values that makes a company the best!”
Richard Manalili
Henkel Phils. Inc. “Yes, I became more aware of what I need to improve and enhance my critical thinking, some methods which are not applicable to VMI system. Don’t reduce anything - its very good. I'm in the process of implementing "TRUE" 5S in the company. It refreshed my knowledge about I.E. subjects. I can apply new techniques in my company.”
Marion Francis F. Marcos
LCFBC Global Logistics, Inc.
Slots are limited so register Now!
Pre-registration is required. Slots are limited so register Now! You may also send an email to
seminars@rmpconsultancy.com or call Chili or Lydes at 813-7824 or 810-7765 Mobile Nos: Smart 0939 627 3630 Globe 0915 799 9859
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