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  • Management & Business Excellence Consultancy
Programs

Inventory Management Skills

Inventory management function is essential for a business to succeed. Good management of your company’s stock decreases excess inventory and ensures that you have enough product on hand to meet customer demand.

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This Inventory Management course is designed to provide you with the key inventory management skills needed to reduce operating costs, enhance customer service and facilitate more efficient and effective purchasing. This 2-day program places a strong focus on practical quantitative techniques, aimed at giving delegates the analytical mind-set to set an overall policy and management framework.

  • Course Contents
  • Day-1: Inventory Concept and Simulation Exercise
  1. The role and cost of inventory
  2. Principles of common control techniques
  3. Practical pitfalls and how to avoid them
  4. Relationships between stock levels, frequency of ordering and customer service
  5. Forecasting stock levels, values and holding costs by Bull-whip Effect – Training
  6. Bull-whip Effect Simulation Exercise
  7. Implementing effective monitoring and exception reporting
  • Day-2: Practical Exercise by taking real time data
  1. Team Making – Cross Functional
  2. Real Time Case Selection (SKUs)
  3. Prato of last 6 months business problems and its connection with Inventory Function
  4. Visit to Customer Inventory place Applying Inventory Management Techniques to calculate Safety stocks and reorder levels
  5. Calibration of Case
  6. Presentations