Introduction
All organization need to maintain inventory in various forms like raw materials, work in progress (WIP) and finished products. However, maintaining inventory at optimum level is a perennial challenge. On the one hand there is risk of stock out and building up of excess inventory on the other. Hence, maintaining inventory at optimum level is essential for business organisation which can lead to additional profits and to equip the stores/ inventory professionals with effective inventory management strategies.
Who should attend
Logistics professionals from sectors involved with the management and
control of
warehousing and distribution, including:
• Inventory Managers
• Warehouse Managers
• Financial Managers
• Procurement Managers
• Supply Chain and Logistics Managers
Objectives of the Programme: By taking this course participants will:
• Understand the role of maintaining the inventory and how to release the working capital by
holding a lean inventory
• Learn How to categorise the material and thereby improve the efficiency of the purchase and
stores department
• Be able to take scientific decision on how to much quantity to order when suppliers gives
various price discounts
• Be able to take scientific decision on how to quantity to keep in warehouse thereby avoiding excess
quantity or inadequate stock
• How to measure the performance of the purchase function as a whole.
Content
• What Inventory and how it impacts our business?
• Challenges in managing the inventory
• How to calculate Ordering Cost and Inventory Carrying Cost
• What is ABC (Class of materials) analysis and how to use it?
• How to improve productivity through ABC analysis?
• How to do the scientific selection of the vendors?
• What is EOQ and how to calculate EOQ for various price bands
• How to calculate Total Material Cost and its use for negotiations
• How to determine various stock levels
• KPIs (Key Performance Indicators) for managing the inventory
• KPIs for managing the vendors
• KPIs for managing the warehouse
Learning Methodology
A proper mix of short lectures, Q & A, sharing, discussions, individual & group exercises and case studies.
Inquiry
Kindly send us an email to mitat@kaizer.ind.in with the name of company, address and contact details.
We look forward to a long and fruitful association with your esteemed
organization.
Kaizer India reserves the right to postpone any program due to insufficient number of
enrolments.
