The purpose of this seminar is to enable delegates to evaluate current procedures so that they can change their methods of managing inventory.

The seminar provides practical skills to eliminate wasteful costs and avoid those internal problems that limit performance. Delegates will be able to understand and implement the "world class" tools for managing inventory in the supply chain.

This course will help you learn how to:

• Appreciate that time is cash
• See that movement to the customer is all that adds value
• Work with all of the supply chain players pays
• Look "outside of the box"
• Apply the 8 Rules for Effective Supply Chain Management

• Those new to managing inventory
• Inventory, Stock, Supply Chain, Logistics, Warehouse and Distribution Professionals

• Expert tutor input using power points
• Delegate discussion and involvement
• Case studies
• Exercises
• Best practice examples
• Supportive comprehensive course manual enabling practical application and reinforce men

Day 1 Inventory and the Supply Chain

• Inventory management definition
• Types of stock
• Demand amplifications
• Demand replenishment in networks
• Managing the flows
• Type I and II supply chains
• The Supply Chain Rules
• Inventory and Statistics
• Concept of service level

Day 2 Inventory Key Concepts

• Key Component: Demand Analysis
• Key Component: Demand Forecasting
• Key Component: Supply Lead Time
• Key Component: Cost & Benefits
• Inventory benefits
• Inventory polices
• Inventory in organizations

Day 3 Inventory replenishment methods and systems

• Basic mechanics of inventory systems
• The stock time curve
• Stock components
• Stock investment
• Free stock
• Fixed order quantity systems
• Fixed order time cycle systems
• Requirements planning systems

Stock Control, Checking

• Inventory receipts
• Identifying inventory
• Surplus and obsolescent stock
• Stock control and records
• Stock checking programs
• Reviewing current procedures and polices

Day 4 Inventory Performance

• Inventory Assessment
• Assessing the stock level
• Models for implementing inventory control
• Determining stock targets
• Inventory questions
• Inventory KPI's in warehouses/stores

Inventory Strategies

• Push/pull
• Quick response (QR)
• Efficient consumer response (ECR)
• Collaborative planning forecasting and replenishment (CPFR)
• Lean and agile approaches
• Quality Management
• Postponement
• Cross Docking
• Consolidation
• Vendor Managed Inventory (VMI)
• Consignment stocking
• Co-Managed Inventory (CMI)
• Direct product profitability (DPP)
• Economic value added (EVA)
• Collaborative supply chains

Day 5 Inventory Improvements

• The Supply Chain and the Theory of Constraints
• Practical inventory improvements
• Keys to reducing stock levels
• Rules for planning inventory
• Model for planning inventory

BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.