Inventory Management Fundamentals Major Topics

This workshop consists of 2 half-day “mini-workshops”

The first 1/2 day (8:30-12) concentrates on inventory management for manufacturing inventory. Topics include:

Replenishment Systems: mrp & periodic review

Controlling WIP: Input/output control, kanban, increasing throughput

Safety Stocks: Supplier delivery safety stock

Lot Sizing Rules: Which techniques are appropriate?

Inventory Record Accuracy: Cycle counting versus physical inventory

Capacity Planning - Detecting bottlenecks

The second 1/2 day (1:00- 4:30) concentrates on inventory management for finished products.

Major topics include:

Replenishment Systems: Time-phased replenishment, reorder point

Forecasting: Characteristics of forecasts that allow for sound inventory management decisions

Inventory Analysis & Measures: ABC Analysis, Inventory turns, cash conversion cycles, benchmark data

Safety Stocks: Dealing with demand variability

Inventory Record Accuracy: Cycle Counting in-depth