For most organizations, inventory is one of the more visible and tangible aspects of doing business. Beginning with the management of suppliers delivering raw materials to goods in various levels of completion in the production process and management and delivery of finished goods in the distributions channel, each type represents money tied up until the inventory becomes purchased products. The workshop provides a broad overview of basic concepts and good inventory management strategies.
- To introduce the basics of inventory management
- To explain the benefits and process of cycle counting program
- To cover the concepts and processes of distribution activities
- To explain the inputs, calculations and output of a material requirements planning (MRP) system
- To learn the process of physical inventory
- Workshop 1: Basics of Inventory Management: In this workshop, the basics of inventory management are covered including types of inventories, various inventory management strategies, etc.
- Workshop 2: Cycle Counting: In this workshop, the participants will learn how to implement or improve a cycle counting program and what the real purpose of cycle counting is: finding and fixing the causes of inventory errors. Also included are several methods for selecting items to count, using correct accounting techniques, and reconciling any outstanding transactions. In addition, the participant will learn various reporting methods to illustrate the results of the cycle counting program to employees and management.
- Workshop 3: Distribution Inventory Management: This workshop focuses on the distribution network model and its objectives, activities, and distribution inventory management decisions and includes interactive exercises to present the fundamental concepts associated with the distribution environment. It is appropriate for management, sales, purchasing, forecasting, materials management, operations personnel, shipping/receiving, and any other supply chain function tangent to the distribution activity.
- Workshop 4: Material Requirements Planning and Bills of Material: To effectively use a material requirements planning (MRP) system, it is essential to understand how bills of material (BOMs) are structured and how MRP calculates requirements. This course includes instruction and exercises so students can practice these important concepts. From structuring simple BOMs to creating phantom bills, modular bills, and super bills, the participant will learn many ways to use BOMs, how to calculate material requirements, and some common action/exception messages that MRP systems frequently include.
- Workshop 5: Physical Inventory: This workshop will discuss what works and what doesn’t as the participant learns the essential preparation steps and activities to perform in advance. These activities include everything from cleanup and sorting to working with auditors. The best physical inventories require the best, most thorough, preparation. The participant will also learn how to keep the physical inventory under control once it starts. From tracking of tags to weigh scales and facility maps to handling recounts, this course guides the way.
- Business Process Designers and Implementers
- Change Managers and Implementers
- Consultant in Supply Chain Management
- Consultants in Logistics Management
- Distribution Managers
- ERP Functional Consultants
- Logistics Managers
- Master Planners and Schedulers
- Material Managers
- Material Planners
- Purchasing Managers
- Supply Chain Managers
- Warehouse Managers
- Five workshops of approx. 4 hours each (half day each), or, one single workshop of approx. 20 hours(3 days)
- A certification of course completion is awarded by APICS after successful completion of this course.