Principles of Inventory Management

This one-day Executive Development Program on Principles of Inventory Management will enable the participants to develop a sound understanding about the various aspects of inventory management. The key components of the program includes fundamentals of inventory, inventory types, inventory functions, inventory nature, S&OP, MPS, MRP, KPIs & Metrics, nature of forecasting, forecasting types, forecasting techniques, inventory valuation, inventory auditing, inventory policy etc.

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Principles of Inventory Management

Program Curriculum

Required Case Study Readings

-Edmund Prater, Kim Whitehead

Operations Management Reading: Managing Inventory
-Janice H. Hammond

Optional Case Study Readings

EMMICO: How to Improve Inventory Turns
-Prakash Sathe

Inventory Management
-Edmund Prater, Kim Whitehead

The Fundamentals and Key Concepts of Inventory Management
-Alejandro Lago Esteban, Philip G Moscoso, Marc Sachon

Managing Inventories: The Reorder Point System
-Robert D. Landel, James R. Freeland, Elliott N. Weiss

The Question of LIFO or FIFO; Which is Preferable?
-William J. Bruns Jr., Sharon Bruns

Managing Supply Chain Inventory: Pitfalls and Opportunities
-Corey Billington, Hau Lee

Managing Inventories: What is the Appropriate Order Quantity?
-Robert D. Landel, James R. Freeland

Laurence & Ralph: The Basic Economics of Capacity and Inventory
-Michael T. Pich, Ludo Van Der Heyden

Larsen and Toubro: Spare Parts Forecasting
-Suhruta Kulkarni, Prakash Hegde, Ruchi Jaiswal, Dinesh Kumar Unnikrishnan

Larsen and Toubro: Spare Parts Forecasting
-Suhruta Kulkarni, Prakash Hegde, Ruchi Jaiswal, Dinesh Kumar Unnikrishnan

-David F. Hawkins

Fundamentals of Supply Chain Management
Introduction to Inventory Management
Define Inventory
Types of Inventory
Functions of Inventory
Item and Aggregate Inventory Management
Functional Perspectives of Inventory Management
Strategic Planning, S&OP, MPS and MRP
Nature of Forecasting
Forecasting Techniques
Nature of Demand- Dependent and Independent
Inventory Replenishment Management
Network Planning and Inventory
Economic Order Quantity and its Significance
Inventory and Financial Statements
Key Performance Indicators for Inventory Management
Operation, Customer and Finance Related KPIs
Inventory Ratios
Global best practices in inventory management
Costs Associated with Inventory
Methods to Manage Obsolete Inventory
International Guidelines and Acts Related to Inventory
Inventory Valuation Methods
Inventory Audit Methods
Inventory Accuracy and Tracking
Process Improvement - Lean and Theory of Constraints
Warehouse Operations
Inventory Aspects in Logistics, Transportation and Distribution

Course Pack

SCM Consultant

Venkadesh Narayanan in the Principal Consultant at Fhyzics and leads the supply chain consulting initiatives and EDPs. He has over 25 years of experience in end-to-end supply chain and also an APICS Recognised Instructor in India. Please click below for his complete profile.

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