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If not managed the right way, Inventory can lead to unwanted financial implications
INVENTORY MANAGEMENT
89259 06892
Duration | 8 Hours – 4hrs/day x 2 days with breaks
ELIGIBILITY:
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Graduate with working knowledge of inventory.
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Executives & Managers working in Purchasing, Planning & Inventory control, sourcing, Vendor management, Sub-Contracting and Stores.
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Executives & Managers from other functions such as Production & their support departments, Sales personnel involved in customer demand planning & delivery and Customer service support to customer involved in managing customer demand variation
STUDENT RATING
9.2 / 10
HIGHLIGHTS
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Basics of inventory & inventory management
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Measures of inventory
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Inventory demand review & management
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Production technologies supporting inventory management
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Pre-test, continuous exercises & post-test to enable instructor to ascertain whether students have understood the program
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Student feedback helps tweak the course content
CONTENTS
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What is Inventory?
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Definition of inventory
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The need, benefits & principles of inventory management
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Its Financial implications & Costs
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Dynamics of demand
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What is demand & what are the types?
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Understanding constraints, what are they?
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Variation & statistical methods to mitigate demand dynamics
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Inventory review systems
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What are they?
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Understand inventory classification
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Understand the replenishment methodologies – MTS & MTO
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Measures of inventory – Turn over, Days & CoGS
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Methodologies for Inventory management in production
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JIT
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Kanban
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Production Levelling
OUTCOMES
By The End Of Course The Learner Will:
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Appreciate the impact of inventory on the organization’s financial metrics (profitability, cash flow, etc)
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Understand the need to manage & align inventory to customer needs (internal & external)
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Apply learnings to estimate & manage safety stocks.