Inventory Management
Scope
It is of interest to examine the operational and strategic issues of Supply Chain & the role of inventory management in improving the competitiveness of Organization. Professionals should be able to explain & bring about a change in the most important practical aspects associated with Supply & Inventory management. Efficient management of inventory, wherever it accumulates, is an essential part of the reduction of an company’s working capital requirements.
Benefits
- Recognize the importance of supply chain process and their role in the efficient and effective organizational performance.
- Describe what inventory management is and the reasons why it is important to manage its inventory.
- Describe the impact of inventory on the financial health.
- Describe the main issues and approaches to reducing inventory levels ∙ Develop Supply Strategy to manage Supplier Relationships.
Course Methodology
- Presentations through Audio – Video
- Games
- Case Studies
- Discussion
- Role Play / Activities
- Desk Top Exercise
- Learning by Doing
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ScopeSupply Chain Management includes managing supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer.
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Benefits
- Better collaboration with suppliers.
- Better quality control.
- Shipping optimization.
- Reduced inventory and overhead costs.
- Improved risk mitigation.
- Stronger cash flow.
- A more agile business.
- Better visibility and data analytics.
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Course Methodology
- Presentations through Audio – Video
- Games
- Case Studies
- Discussion
- Role Play / Activities
- Desk Top Exercise
- Learning by Doing
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What is Materials Planning to Utilization?Materials Planning to Utilization is a specialized program designed to optimize the entire materials management process, from planning and procurement to efficient utilization. This course provides participants with the skills and knowledge needed to streamline material flow, reduce waste, and ensure that resources are used effectively within an organization. By understanding the key principles of materials planning, participants will be better equipped to meet production needs, minimize excess inventory, and improve overall operational efficiency.
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Benefits of Materials Planning to Utilization
- Optimized Material Flow: Learn how to plan and manage materials more effectively, ensuring smooth and efficient production processes.
- Reduced Waste: Implement strategies to minimize waste and make the most of available resources, leading to cost savings.
- Improved Resource Utilization: Gain insights into how to use materials more efficiently, reducing excess inventory and improving productivity.
- Enhanced Operational Efficiency: Streamline your materials management process, resulting in more efficient operations and reduced downtime.
- Better Decision-Making: Develop the skills to make informed decisions about materials planning and utilization, aligning with organizational goals.
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What is Reduce Cost with Inventory Management?Reduce Cost with Inventory Management is a focused program aimed at helping organizations lower operational costs by optimizing their inventory management practices. This course covers essential techniques for maintaining the right balance of inventory, avoiding overstocking or stockouts, and improving cash flow. Participants will learn how to implement effective inventory control measures, forecast demand accurately, and reduce carrying costs, all of which contribute to a more cost-efficient operation.
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Benefits of Reduce Cost with Inventory Management
- Cost Reduction: Learn strategies to lower inventory-related costs, including reducing excess stock and optimizing order quantities.
- Improved Cash Flow: Gain insights into managing inventory levels effectively, freeing up capital and improving cash flow.
- Enhanced Inventory Control: Develop skills in inventory control, including demand forecasting and reorder point calculation, to prevent stockouts and overstocking.
- Increased Efficiency: Implement best practices in inventory management that streamline operations and reduce waste.
Better Resource - Allocation: Optimize inventory levels to ensure resources are allocated efficiently, contributing to overall organizational success.
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National Productivity Council, Govt. of India
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Quality Mark Trust, India
ASCB,USA
Training Accreditation for OpEx
LMI, USA
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