Objective and Benefits
After attending this workshop, you will
- Learn the Best Practices in Inventory Management
- Learn Inventory Management Modeling
– Replenishment: When, What and How Much
– Replenishment Models
– Warehouse Management Systems - Learn to identify Wastes in Managing Inventory
- Learn to use tools to reduce Waste and Non-Value activities to improve responsiveness of the Warehousing and Inventory Management processes.
- Learn to ANTICIPATE PROBLEMS using the methodology in this workshop
Course outline:
Foundations:
- The Big Picture: Connecting Profitability, Customer Longevity, Process, Operations and Sales
- Inventory Management and Replenishment Model
- Inventory Control
- Inventory Policy
- Reasons for Carrying inventory and Warehousing
- Types of Inventory
- Inventory Costs
- Inventory System Categories
- 10 Best Practices in Inventory Management
– WMS
– Parameters in setting up inventory Levels
– Replenishment
– Timeline Analysis
– Proactive Maintenance - Inventory and Warehouse Management
– Challenges in Warehouse Management
– Planning and Optimizing Warehouse Layout
– Inventory Classification
– ABC Analysis
– Physical Inventory
– Cycle Count
– Best Practices
– FIFO implementation - Waste Reduction and Elimination:
– Types of Waste
– 5S
Duration:
Duration of the Training Workshop is 1 day.
