Advanced Inventory Management

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 process.
• 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.