Course Objectives:

• State-of-the-Art Overview
• New Performance Measurements for Inventory Management
• New Paradigm for Inventory Control
• Using Demand Data for Inventory Management
• Creating Useful Inventory Forecasts
• Advanced Inventory Control Settings
• An Advanced Forecasting & Inventory Management System in Action
• New Roles for Inventory Control Personnel
• Distribution Requirements Planning (DRP)

Who Can Benefit?

• Managers, supervisors and professionals responsible for the design and use of inventory management systems.
•  Managers in finance, operations and warehousing who drive improvement in the supply chain.
• All managers and executives in the organization who are responsible for reducing costs, increasing productivity, raising inventory turns and enhancing customer service through high fill rates, accurate information and excellent inventory management processes.

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
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