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Center for Inventory Management

www.CenterForInventoryManagement.org

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Fundamentals of Inventory Management

How to Manage Inventories
for Greater Profit and Growth
A Two Day Inventory Management Seminar
to be conducted at your location

If you are new to inventory management or if you are a seasoned manager,
this comprehensive seminar will cover the latest techniques for inventory
planning and control in the real world.

How much of your company's assets should be tied up in inventories?
Can you react quickly to changes in demand? What systems will work best for you?

This seminar presents practical, real world answers to these questions. It covers the latest techniques
for effective inventory management. Now in its 20th year this course has been acknowledged as the
leader in its field.

Attendees gain the knowledge to evaluate procedures and make needed changes to methods to improve customer service while achieving significant reductions in inventories.

CONTENT
bulletOptimum customer service
bulletMinimum inventory investment
bulletMaximum productivity
bulletClassification of inventories
bulletTypes of demand
bulletMaterial requirements planning
bulletOrder point systems
bulletDistribution by value analysis
bulletInventory analysis tools
bulletCosts in inventories
bulletEconomic lot sizes
bulletQuantity discounts
bulletPrice breaks
bulletDeveloping the right policies
bulletManaging lead times
bulletHow much safety stock?
bulletReal control of inventories
bulletSystem considerations
bulletTransaction control
bulletAction oriented reports
bulletService levels
bulletMaterial availability
bulletTurn over rates

AGENDA

First day

9:00 - 9:30 a.m.        Introduction and listing of problem areas for discussion

 

9:30 - 10:30 a.m.      Objectives of inventory management

ZERO inventory philosophy

Optimum customer service

Minimum inventory investment

Maximum productivity

Accounting for inventory

Classification of inventory

Inventory records

Segmentation of inventory

Inventory flow

10:30 - 10:45 a.m.     Refreshment break

10:45 - 12:00 noon    Distribution by value (ABC) analysis

12:00 - 1:30 p.m.       Lunch and group interaction.

1:30 - 2:30 p.m.         Inventory Systems:

Order Point and MRP

2:30 - 2:45 p.m.         Refreshment break

2:45 - 3:15 p.m.         When to order:

Management of lead-times

Order point construction

3:15 - 4:30 p.m.         Order quantity decisions:

Costs in inventory

Set-up and order costs

Economic lot sizing techniques

Second day

9:00 - 10:30 a.m.        JUST IN TIME Concept

Price increase considerations

Quantity discounts

10:30 - 10:45 a.m.      Refreshment break

10:45 - 12:00 noon     Inventory planning

 How to establish safety stocks

 Policies for inventory management

 Real control of inventories

 Inventory performance analysis

 IPAS system

 Vendor Managed Inventory

 Benchmarking

12:00 - 1:30 p.m.         Lunch and group interaction.

1:30 - 2:30 p.m.           Presentation of Case Study

  Organization of attendees in work groups

  Work on case study

2:30 - 2:45 p.m.           Refreshment break

2:45 - 3:30 p.m.           Case study - presentation of solutions

  Questions and Answers

If you would like to have this seminar conducted at your location, please call or fax us at 770-414-9302. You may also send an e-mail to: HHJordan@aol.com

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  Copyright 2001 Center for Inventory Management
  Last modified: August 08, 2011