Course description
Advanced Certificate in Strategic Inventory Management: ACSIM
A 5 day intensive course for Inventory Management Professionals.
Effective Inventory Management is a vital element of Supply Chain management and effectively underpins both financial revenue streams for the organisation as well as ensuring that projects are completed on time. Additionally, effective inventory management determines organisational cash flow. Too much or ob-solete inventory consumes cash resources that could be put to better use by the organisation operationally or to fund strategic initiatives. Too little and project delays and customer service levels suffer.
This advanced course leads delegates through the key methodologies to ensure that inventory levels are optimised both financially and operationally. The course expands to incorporate safety stock level system management, the management of slow moving and obsolete inventory and provides delegates with a soft copy inventory management model to enable delegates to swiftly and confidently implement their learn-ing upon their return to the workplace.
ACSIM™ provides the understanding, framework, tools, and principles that allow organisations to build, embed and develop world class Inventory Management.
On completion of this five day training course you will receive your certificate which is certified, through independent assessment and accreditation, by the International Federation of Purchasing and Supply Management (IFPSM) PAS Standard.
Upcoming start dates
Suitability - Who should attend?
- Procurement Directors
- Business Owners / Managing Directors
- Inventory Managers
- Supplier Managers
- Supply Chain Managers
- Buyers / Senior Buyers
- Operations Managers & Directors
- Finance Managers
- Project Managers
- Executive Directors
- General Managers
- Divisional Heads
- Project Directors
- Project Engineers
- Administration Managers
- Project Leaders
- Team Leaders
- Supervisors
PLUS anyone who is responsible for / involved in Inventory Management & Control, or anticipates be-ing involved with Inventory Management & Control in the future
Outcome / Qualification etc.
- Gain an accredited Certificate which has been certified, through independent assessment and accreditation, by the International Federation of Purchasing and Supply Management (IFPSM) PAS Standard”.
- Use ACSIM™ on your business card and on your resume
- The ACSIM™ shows that you have completed International qualifications and that you have the skills and experience to manage inventory effectively on a national, regional and global level.
Training Course Content
DAY 1
Understand the Role & impact of Inventory
- Operational Impacts of Inventory upon the organisation.
- Financial impacts of Inventory upon the Profit & Loss Account & Balance sheet.
- Impacts of Inventory upon taxation
- Classifying Inventory types.
- Inventory Management within effective Supply Chain Management - key dynamics and critical success factors
- Overview of key inventory strategies - min max, safety stock, economic order quantity (EOQ)
DAY 2
Delivering Optimal Inventory levels
- Understanding “Push Pull” Dynamics
- The importance of demand forecasting
- Engaging with stakeholders
- Calculating & Optimising min/max strategies
- Reducing inventory levels
- MTBF Replenishment model
- Inventory management & MRP Systems
Identifying & Managing “Drag” Inventory
- Identifying & managing slow moving inve
- Understanding the impact of nett book value
- Identifying & managing obsolete inventory
- Slow moving inventory correction
- Obsolete inventory disposal strategies
- The Inventory Management toolkit
DAY 3
Understanding Safety Stock
- Defining Safety stock levels within a global sourcing environment
- Defining Safety stock levels within local/regional sourcing environments
- Setting safety stock levels in a mixed sourcing environment
- Establishing inventory risk quotients
Business Simulation
- Instructor led and facilitated Business Simulation where delegates will test a range of inventory strategies whilst meeting the demands of their Operational, User and finance teams within a safe environment utilising their learning from the course.
DAY 4
Control & Custody of inventory
- Understand the holding cost of inventory
- Inventory identification & SKU Systems
- Effective inventory record keeping
- Managing stock takes from mission critical to consumables
- Inventory asset security
- Use of Smart tagging systems - including RFID, smart chips & barcode
- Vendor managed inventory controls
- JIT inventory management
Key Performance Indicators (KPI’s) and Service Levels
- Key inventory metrics
- Selecting Effective Inventory KPI’s
- Selecting Appropriate Service Levels - internal and external
- Effective Inventory reporting to the organisation
DAY 5
The future of Inventory Management
- New and emerging technologies
- Blockchain and inventory management
- Case study review & analysis - Coca-Cola & Amazon
The programme will include a series of group exercises, a business simulation and case studies with a high level of delegate interaction.
ACSIM™ Examination *
* Only those who successfully complete the examination and participate effectively in the course case studies will receive the Advanced Certificate in Strategic Inventory Management: ACSIM™
Reviews
Average rating 4.8
I acquired more knowledge on Strategic inventory management
The course was very educative and rich in best practices as well the trainer was experienced in this field
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