Principles of Inventory Management (PIM)Informa Middle East
Managing inventories is a very important task. Inventoriesaccount for an enormous portion of a firm’s cash expenditure,ranging anywhere from 10 percent to as high as 60 percent ormore. Failure to effectively manage inventories can result inexcess costs that drag down company profitability and createmismatches between what is available and what customersreally want. This course will focus on the purpose and functionof inventory and inventory replenishment management.
The emphasis will be on improving your company’s inventorymanagement, demand planning, forecasting, and S&OPmethods and processes which will have an immediate impacton your company.
The Course Director, Ravindra, is a senior educator withKnoWerX Education and will use his wealth of real-worldexperience to provide valuable education for empowering youwith the knowledge and skills to minimise inventory andimprove customer fulfilment and retention during any marketcondition.
Outcome / Qualification etc.
- Fundamentals of Inventory Management: Recognise the role of inventory management, basic inventory flows, classes of inventory, and the inventory planning process
- Purpose and Function of Inventory: Explore the purpose and functions of inventory, inventory management challenges, costing and valuation, and obsolete and excess inventory management
- Inventory Replenishment Management: Practise basic ordering techniques such as the Economic Order Quantity (EOQ), lot sizing rules, stock replenishment concepts, measuring demand uncertainty, order point concepts, and understand the role of safety stock
- Inventory Replenishment Techniques and Inventory Performance: Understand concepts of ordering with supplier lead time uncertainty, the Time Phased Order Point (TPOP), replenishment by class, ABC classification, inventory accuracy, physical inventory and cycle counting
- Lean Inventory Theory and Practice: Explore the lean philosophy, inventory waste elimination strategies, lean inventory practice techniques, quality management, and continuous improvement
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Provider: Informa Middle East
Informa Middle East
Informa Middle East offers a broad selection of open courses and in house training programmes, covering the key professional areas: Finance and Investment, IT and telecommunications, HR, Business Administration, Health & Safety and Marketing. Informa Middle East is part of...
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