/  Strategic Inventory Management Training

Strategic Inventory Management Training

BMC Training provides a training course in Strategic Inventory Management in Warehouse , Logistics , Supply Chain and Inventory

Course Title
Venue
Start Date
End Date
  • London
    7 - 10 - 2018
    18 - 10 - 2018
  • Dubai
    21 - 10 - 2018
    1 - 11 - 2018
  • Paris
    7 - 10 - 2018
    18 - 10 - 2018
  • Kuala Lumpur
    4 - 11 - 2018
    15 - 11 - 2018
  • Istanbul
    11 - 11 - 2018
    22 - 11 - 2018
  • Muscat
    4 - 11 - 2018
    15 - 11 - 2018
  • London
    2 - 12 - 2018
    13 - 12 - 2018
  • Dubai
    9 - 12 - 2018
    20 - 12 - 2018
  • Paris
    2 - 12 - 2018
    13 - 12 - 2018
  • Kuala Lumpur
    27 - 1 - 2019
    7 - 2 - 2019
  • Istanbul
    20 - 1 - 2019
    31 - 1 - 2019
  • Muscat
    27 - 1 - 2019
    7 - 2 - 2019
  • London
    10 - 2 - 2019
    21 - 2 - 2019
  • Dubai
    17 - 2 - 2019
    28 - 2 - 2019
  • Paris
    10 - 2 - 2019
    21 - 2 - 2019
  • Kuala Lumpur
    24 - 3 - 2019
    4 - 4 - 2019
  • Istanbul
    10 - 3 - 2019
    21 - 3 - 2019
  • Muscat
    24 - 3 - 2019
    4 - 4 - 2019
  • London
    14 - 4 - 2019
    25 - 4 - 2019
  • Dubai
    14 - 4 - 2019
    25 - 4 - 2019
  • Paris
    14 - 4 - 2019
    25 - 4 - 2019
  • Kuala Lumpur
    12 - 5 - 2019
    23 - 5 - 2019
  • Istanbul
    19 - 5 - 2019
    30 - 5 - 2019
  • Muscat
    12 - 5 - 2019
    23 - 5 - 2019
  • London
    23 - 6 - 2019
    4 - 7 - 2019
  • Dubai
    2 - 6 - 2019
    13 - 6 - 2019
  • Paris
    23 - 6 - 2019
    4 - 7 - 2019
  • Kuala Lumpur
    7 - 7 - 2019
    18 - 7 - 2019
  • Istanbul
    28 - 7 - 2019
    8 - 8 - 2019
  • Muscat
    7 - 7 - 2019
    18 - 7 - 2019
  • London
    18 - 8 - 2019
    29 - 8 - 2019
  • Dubai
    11 - 8 - 2019
    22 - 8 - 2019
  • Paris
    18 - 8 - 2019
    29 - 8 - 2019
  • Kuala Lumpur
    15 - 9 - 2019
    26 - 9 - 2019
  • Istanbul
    15 - 9 - 2019
    26 - 9 - 2019
  • Muscat
    15 - 9 - 2019
    26 - 9 - 2019

Objectives :

  • Understand how inventory management techniques can be used in a wide variety of situations, particularly in stores where the inventory can be anything from fast moving products to slow moving spares.
  • Define and discuss distribution warehousing and manufacturers' operations.
  • Explore the inventory control aspects included in the courses for the DPIM, COM, DLM, CPIM and other professional and academic qualifications.
  • Develop their understanding of stock control by seeing the techniques explained logically.
  • Learn how inventory structuring, individual item control, forecasting and co-ordination provide the base for logistics management.
  • Understand the importance of inventory & the role it plays in the profitability of the company
  • Examine the most appropriate method for managing an item
  • Understand the value chain in inventory management
  • Apply best methods to optimise the investment in inventory
  • Examine the appropriate inventory management technique for each type of item

The Contents:

Inventory in the Value Chain

  • The purpose of inventory in the value chain
  • Classification of inventory
  • Procedure for eliminating obsolete inventory
  • Pareto Law in identifying product Classification
  • Location of inventory
  • Using Economic Order Quantity on managing inventory order levels

Demand Planning

  • Basic forecasting methods
  • Customer segmentation
  • Hierarchy of planning
  • Aggregate planning
  • Maintenance & Inventory planning meeting
  • Master Scheduling

Forecasting

  • Principles of forecasting
  • Effect of lead time on the forecasting process
  • Quantitative forecasting
  • Qualitative forecasting
  • Tracking forecast accuracy
  • Determining safety stock

Inventory Recording

  • Period stock take
  • Cycle counting
  • Perpetual recording
  • Utilizing Bar-cades to manage inventory and movements
  • The use of Radio Frequency Identification (RFID) for recording inventory movement
  • Inventory accounting

Performance Measurement

  • Stock turnover rate
  • Customer service
  • Cost of operations
  • Measuring the effectiveness of your system
  • How to use the measurements
  • Class exercise on selective inventory management

Setting the right stock levels

  • Simple assessment of review levels
  • Managing lead times
  • Target stock levels
  • The changing role of purchasing

Modern supply practice

  • Supply partnerships
  • The ordering process
  • Order quantities
  • Purchasing processes
  • Forecasting demand

Options for assessing demand

  • Causes of forecasting techniques
  • Methods of improving forecasts
  • Historical forecasting techniques

Basic forecasting techniques

  • Weighted averages
  • Choosing the best forecast
  • Monitoring forecasts
  • Advanced forecasting methods

More forecasting tools

  • Forecasting for seasonal sales
  • Other methods
  • Material requirements planning – an alternative to forecasting

Avoiding uncertainty

  • Material requirements planning
  • Master planning
  • Batch sizes
  • The future – inventory and logistics

The basis of the lean supply chain

  • Logistics
  • Review

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