Who Can Benefit?

• Managers in finance, operations and warehousing who drive improvement in the supply chain.

• Supervisors and professionals responsible for the design and use of inventory management systems.

Course Outline

• State-of-the-Art Overview

• Forecasting That Works
• New Rules for Effective Inventory Control
•  Integrating Inventory Plans with Business Plans
•  Three Principles for Success

• New Performance Measurements for Inventory Management

• Customer Service Effectiveness
• Inventory Control
•  Warehouse Productivity
•   Return on Investment (ROI)

• New Paradigm for Inventory Control

• Establishing the Right Controls
• The Problem With Traditional ABC Approaches
• Inventory Segmentation Approaches That Work
•  Planning Total Inventory Levels

• Using Demand Data for Inventory Management

• New Principles of Forecast Simulation
• Setting Up a System for Every Scenario
• Integrating Demand Data with Inventory Planning
•  Models for New Items
• Forecast Accuracy Measurements

• Creating Useful Inventory Forecasts

• Aggregate and Item Financial Data
• Projections for Capacity & Load Planning
•  Integrating Marketing Intelligence
• Aligning System Settings With Inventory Projections
•  Monitoring Inventory Flow Against the Forecast

• Advanced Inventory Control Settings

• Using Safety time Instead of Safety Stock
• The New Concepts of EOQ
•  The Correct Evaluation of Price Breaks
•  Automating Replenishment Orders

• An Advanced Forecasting & Inventory Management System in Action

• Unique Software Features & Functions
•  Demonstration of Inventory Control Concepts & Principals
• Key Reports For Inventory Analysis
• Creating Forecasts for Suppliers
•  Using Filters and Ranges 

• New Roles for Inventory Control Personnel

•  Role of the Inventory Manager
• Reviewing Every Item, Every Day in a Weekly Work Plan
•  Developing Logical Ordering Strategies
•  Effective Expediting
•  Twenty Practical Considerations for Inventory Control

• Distribution Requirements Planning (DRP)
• Supply Chain Management
•  Impact on Warehousing Activities
• Benchmarking World Class Inventory Management Systems