Inventory Management Masterclass

Demand Planning

• Basic forecasting methods.
• Customer segmentation.
• Hierarchy of planning.
• Aggregate planning.
• Maintenance & Inventory planning meeting.
• Master Scheduling.

Forecasting

• Principles of forecasting
• Effect of lead time on the forecasting process
• Quantitative forecasting
• Qualitative forecasting
• Tracking forecast accuracy
• ·Determining safety stock

Inventory Recording

• Period stock take
• Cycle counting
• Perpetual recording
• Utilizing Bar-cades to manage inventory and movements
• The use of Radio Frequency Identification (RFID) for recording inventory movement
• Inventory accounting

Performance Measurement

• Stock turnover rate
• Customer service
• Cost of operations
• Measuring the effectiveness of your system
• How to use the measurements
• Class exercise on selective inventory management

Setting the right stock levels

• A simple assessment of review levels.
• Managing lead times.
• Target stock levels.
• The changing role of purchasing.

Modern supply practice

• Supply partnerships.
• The ordering processes.
• Order quantities.
• Purchasing processes.
• Forecasting demand.

Options for assessing demand

• Causes of forecasting techniques.
• Methods of improving forecasts.
• Historical forecasting techniques.

Basic forecasting techniques

• Weighted averages.
• Choosing the best forecast.
• Monitoring forecasts.
• Advanced forecasting methods.

More forecasting tools

• Forecasting for seasonal sales.
• Other methods.
• Material requirements planning – an alternative to forecasting.

Avoiding uncertainty

• Material requirements planning.
• Master planning.
• Batch sizes.
• The future – inventory and logistics.

The basis of the lean supply chain

• Logistics.
• Review.