Inventory training plays pivotal role in training employees in inventory management which is crucial in growth and survival of the organization. Recognition of the balance sheet implications of inventory in supply chain management has launched a variety of industry-wide inventory reduction initiatives. Despite all these initiatives to reduce inventory in the supply chain, inventory levels for most companies have remained the same or increased. This course is focused on understanding how to efficiently provide the inventory necessary for good customer service while minimizing the inventory resulting from poor supply chain management. Lack of efficient and ineffective inventory management will result in losing the customers, sales decline, production delays and other long term negative effects. Poor management will seriously undermine the business. As such inventory training is crucial. Managing inventories just –in-time accordingly will result, reducing cost, competitive advantage and great economic benefit to your organization. To help organization to minimize the risk of such failure, we have incorporated the said in our training programme as below
Inventory management training
Inventory control training
Stock control inventory training
Inventory management, forecasting, & stock control techniques training
Focusing on certain areas within the supply chain can reduce costs. There might be times when buying in bulk is cost effective. JIT, FIFO and LIFO will be discussed in the following Inventory Management.
Duration 1-2 days How You Will Benefit
Understanding supply chain and understand material, information, and capital flows Understand major challenges to effective supply chain management, including variability, organizational silos, the Bullwhip Effect, and tradeoffs Recognize the importance of product design and manufacturing in the supply chain process Learn the importance of metrics (supply chain performance measures), including chain-wide metrics Supply chain key components Supply chain and inventory models (for example, Kanban, JIT, ) Supply chain constraints that impact material and product throughput and their mitigation strategies Contributors to market projections and supply chain strategy for product Understand the use of inventory throughout the supply chain Develop inventory strategies to support business strategies Analyze tradeoffs between inventory costs and customer service levels Determine how to measure and improve inventory performance Understand and manage variability that impacts inventory Evaluate how to tradeoff transportation and inventory costs Determine how to optimize inventory levels to meet service requirements Understand the basics of inventory and forecasting technology
What will we address? The implementation of new concepts in the supply chain, for example vendor managed inventory (VMI) or Supply Chain Event Management, promises considerable benefits to a company. Shorter delivery times and increased due date reliability with reduced inventory and
