/  The Complete Course on Inventory Management Training

The Complete Course on Inventory Management Training

BMC Training provides a training course in The Complete Course on Inventory Management in Project , Procurement and Contracts

Course Title
Venue
Start Date
End Date
  • Kuala Lumpur
    9 - 8 - 2020
    13 - 8 - 2020
  • Rome
    9 - 8 - 2020
    13 - 8 - 2020
  • Barcelona
    9 - 8 - 2020
    13 - 8 - 2020
  • Zurich
    9 - 8 - 2020
    13 - 8 - 2020
  • Istanbul
    16 - 8 - 2020
    20 - 8 - 2020
  • Bali
    16 - 8 - 2020
    20 - 8 - 2020
  • Singapore
    16 - 8 - 2020
    20 - 8 - 2020
  • Washington
    16 - 8 - 2020
    20 - 8 - 2020
  • London
    23 - 8 - 2020
    27 - 8 - 2020
  • Madrid
    23 - 8 - 2020
    27 - 8 - 2020
  • Munich
    23 - 8 - 2020
    27 - 8 - 2020
  • Berlin
    23 - 8 - 2020
    27 - 8 - 2020
  • New York
    23 - 8 - 2020
    27 - 8 - 2020
  • Dubai
    27 - 9 - 2020
    1 - 10 - 2020
  • Paris
    27 - 9 - 2020
    1 - 10 - 2020
  • Hong Kong
    27 - 9 - 2020
    1 - 10 - 2020
  • London
    6 - 9 - 2020
    10 - 9 - 2020
  • Madrid
    6 - 9 - 2020
    10 - 9 - 2020
  • Munich
    6 - 9 - 2020
    10 - 9 - 2020
  • Berlin
    6 - 9 - 2020
    10 - 9 - 2020
  • New York
    6 - 9 - 2020
    10 - 9 - 2020
  • Kuala Lumpur
    13 - 9 - 2020
    17 - 9 - 2020
  • Rome
    13 - 9 - 2020
    17 - 9 - 2020
  • Barcelona
    13 - 9 - 2020
    17 - 9 - 2020
  • Zurich
    13 - 9 - 2020
    17 - 9 - 2020
  • Istanbul
    20 - 9 - 2020
    24 - 9 - 2020
  • Bali
    20 - 9 - 2020
    24 - 9 - 2020
  • Singapore
    20 - 9 - 2020
    24 - 9 - 2020
  • Washington
    20 - 9 - 2020
    24 - 9 - 2020
  • Dubai
    18 - 10 - 2020
    22 - 10 - 2020
  • Paris
    18 - 10 - 2020
    22 - 10 - 2020
  • Hong Kong
    18 - 10 - 2020
    22 - 10 - 2020
  • Kuala Lumpur
    25 - 10 - 2020
    29 - 10 - 2020
  • Rome
    25 - 10 - 2020
    29 - 10 - 2020
  • Barcelona
    25 - 10 - 2020
    29 - 10 - 2020
  • Zurich
    25 - 10 - 2020
    29 - 10 - 2020
  • Istanbul
    4 - 10 - 2020
    8 - 10 - 2020
  • Bali
    4 - 10 - 2020
    8 - 10 - 2020
  • Singapore
    4 - 10 - 2020
    8 - 10 - 2020
  • Washington
    4 - 10 - 2020
    8 - 10 - 2020
  • London
    11 - 10 - 2020
    15 - 10 - 2020
  • Madrid
    11 - 10 - 2020
    15 - 10 - 2020
  • Munich
    11 - 10 - 2020
    15 - 10 - 2020
  • Berlin
    11 - 10 - 2020
    15 - 10 - 2020
  • New York
    11 - 10 - 2020
    15 - 10 - 2020
  • Dubai
    15 - 11 - 2020
    19 - 11 - 2020
  • Paris
    15 - 11 - 2020
    19 - 11 - 2020
  • Hong Kong
    15 - 11 - 2020
    19 - 11 - 2020
  • London
    22 - 11 - 2020
    26 - 11 - 2020
  • Madrid
    22 - 11 - 2020
    26 - 11 - 2020
  • Munich
    22 - 11 - 2020
    26 - 11 - 2020
  • Berlin
    22 - 11 - 2020
    26 - 11 - 2020
  • New York
    22 - 11 - 2020
    26 - 11 - 2020
  • Kuala Lumpur
    1 - 11 - 2020
    5 - 11 - 2020
  • Rome
    1 - 11 - 2020
    5 - 11 - 2020
  • Barcelona
    1 - 11 - 2020
    5 - 11 - 2020
  • Zurich
    1 - 11 - 2020
    5 - 11 - 2020
  • Istanbul
    8 - 11 - 2020
    12 - 11 - 2020
  • Bali
    8 - 11 - 2020
    12 - 11 - 2020
  • Singapore
    8 - 11 - 2020
    12 - 11 - 2020
  • Washington
    8 - 11 - 2020
    12 - 11 - 2020
  • Dubai
    20 - 12 - 2020
    24 - 12 - 2020
  • Paris
    20 - 12 - 2020
    24 - 12 - 2020
  • Hong Kong
    20 - 12 - 2020
    24 - 12 - 2020
  • Kuala Lumpur
    27 - 12 - 2020
    31 - 12 - 2020
  • Rome
    27 - 12 - 2020
    31 - 12 - 2020
  • Barcelona
    27 - 12 - 2020
    31 - 12 - 2020
  • Zurich
    27 - 12 - 2020
    31 - 12 - 2020
  • Istanbul
    13 - 12 - 2020
    17 - 12 - 2020
  • Bali
    13 - 12 - 2020
    17 - 12 - 2020
  • Singapore
    13 - 12 - 2020
    17 - 12 - 2020
  • Washington
    13 - 12 - 2020
    17 - 12 - 2020
  • London
    6 - 12 - 2020
    10 - 12 - 2020
  • Madrid
    6 - 12 - 2020
    10 - 12 - 2020
  • Munich
    6 - 12 - 2020
    10 - 12 - 2020
  • Berlin
    6 - 12 - 2020
    10 - 12 - 2020
  • New York
    6 - 12 - 2020
    10 - 12 - 2020

Introduction

This course examines the renewed emphasis on running organizations leaner, effectively and efficiently. The renewed pressure to reduce cost as well as investment, while maintaining customer service levels is essential in world-class performance. Inventory Management is still one of the least understood practices in many companies and managers often fail to see the causal link between Inventory Management and good business results.

In addition, the mechanistic review of Min/Max reorder points will lead to disappointing results and in capital intensive companies, the value of spares in inventory often exceeds the value of all other inventory combined. Huge investments, excessive costs and low availability of stock often cause a knee-jerk reaction instead of adopting sound inventory management principles.

This course will feature:

  • Reduction in inventory investment
  • Improved customer satisfaction
  • Reduced cost of running the inventory management function
  • Understanding inventory categories in management
  • Management of Stock Keeping Units in terms of their priorities

Objectives

  • 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

Content

Day One

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

Day Two

Demand Planning

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

Day Three

Forecasting

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

Day Four

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

Day Five

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

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