08/14/2014

033. Advanced Achieving Effective Inventory Control

Instructor: John Schreibfeder

Read more about John Schreibfeder 

Wednesday, March 11, 2015

8:00 am – 4:30 pm

 

Full Course Description:

Effective inventory management (EIM) allows an organization to meet or exceed customers’ expectations of product availability with the amount of each item that will maximize profitability or minimize your total inventory investment.

Participating in this one-day workshop will lead you to achieving this goal.  Topics will include:

1. How to structure your organization to achieve EIM
2. Establishing the policies and procedures necessary to achieve effective inventory management
3. The difference between your “core” and “speculative” inventory investment
4. What to stock in each of your branches or warehouses
5. Measuring and improving the accuracy your forecast of future demand of products
6. Improving the accuracy of anticipated lead times
7. Calculating the safety stock quantity of each stocked product that will balance your investment and desired level of customer service
8. Vendor selection and evaluation
9. Evaluating special buying opportunities
10. When it is advantageous to utilize a central warehouse or distribution center
11. Evaluating you’re the performance of your inventory investment

Who Should Attend:

Inventory Managers, Purchasing Agents, Buyers, Inventory Planners, Sales Managers, CFO, CEO, COO, IT Personnel

Takeaways:

1. Understanding the difference between “common practice” and “best practice” in inventory management
 
2. Development of a plan to achieve the goal of effective inventory management
 
3. Meaningful metrics to monitor your progress in achieving this goal

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