Inventory Management in the Supply & Demand Chains

At good times, inventory can helps your organization to generate more revenues and profits. At challenging times, inventory can contribute to lesser revenue or lower profit margin as well. This is the typical headache of top management as well as warehouse and supply chain manager.

However, this program will totally change your perspective about what inventory management is and how to optimize and leverage the inventory regardless of good times or challenging times. This program will assist you to have a new paradigm on managing inventory by having an in depth understanding on supply chain and demand chain in relation with inventory management.

Once you understand the roles of inventory in the complete supply chain and demand chain, you can take proactive and result-oriented approach to manage the inventory. Even better, you can turn the inventory into “profit vehicle” for your organization. This program is designed specifically for warehouse, supply chain, purchasing, planning as well as supporting departments like finance, production, and logistics department. To benefit more from this program, it is recommended that few departments who are managing inventory to attend this integrated inventory management workshop.

Since inventory is million, multi-million-dollar matter, so do not leave inventory management to chance. This practical-oriented and result-oriented program will save lots of money (in inventory), improve warehouse productivity, increase inventory turnover and become more competitive for your organization.

1. Definition of Inventory Reduction Management
2. Importance of Inventory in optimizing supply chain in the highly competitive global market
3. Understand Inventory Implications through Financial Ratio analysis
4. Implement 'ABC, FSN, XYZ, VED Analysis' - Simple and Result-oriented Inventory Control Analysis
5. Seven Major Inventory Reduction Strategies
   • Improving Data Accuracy towards 100%
   • Effective Application of Inventory Reduction Analysis
   • Developing Competent Warehouse Staff
   • Optimizing Inventory in Supply Chain
   • Reducing Inventory Holding Days
   • Reducing 'Dead Stock' The Right Way
   • Inventory and Financial Ratio
6. Develop Inventory Reduction Action Plan

Part 1 : INVENTORY REDUCTION MANAGEMENT

• 1.1 Definition of Inventory Reduction Management
• 1.2 Inventory Reduction is vital in optimizing Supply Chain
• 1.3 Inventory is a Major Business Cost – Identify Inventory Holding Cost
• 1.4 Skill 1: Inventory Reduction Mindset

Part 2 : STRATEGY 1 - IMPROVING DATA ACCURACY towards 100%

• 2.1 Physical Data Control: CYCLE COUNT
• 2.2 KPI to ensure HIGH ACCURACY in Physical Data
• 2.3 Computer Data Control: REPORT CONTROL
• 2.4 Skill 2: Effective On-Job-Training Technique on Cycle Count

Part 3 : STRATEGY 2 – ANALYZING INVENTORY EFFECTIVELY

• 3.1 Inventory Management Indicators – Inventory Turnover, Inventory Value and Inventory Holding Days
• 3.2 Implement ‘ABC, FSN, XYZ, VED Analysis’
• 3.3 Effective Application of ‘Inventory Reduction Analysis’
• 3.4 Skill 3: Apply Inventory Reduction Analysis in Different Inventory Situations

Part 4 : STRATEGY 3 – DEVELOPING COMPETENT WAREHOUSING STAFF

• 4.1 Changing Roles of Warehouse Professional – from Service department to Strategic department
• 4.2 9 Key Roles & Responsibilities of Warehouse Staff
• 4.3 Develop Warehouse Job Duties and Job Standards – KPI to Improve & Manage Stock Variances
• 4.4 Skill 4: Inventory “Health Check” Analysis

Part 5 : STRATEGY 4 – OPTIMIZING INVENTORY IN SUPPLY CHAIN

• 5.1 The Fundamentals of Supply Chain Process
• 5.2 Supply Chain Models: Push-based vs Pull-based
• 5.3 Supply Chain Integration: Push / Pull Strategies
• 5.4 Skill 5: Traditional Batch Production vs Demand Pull System

Part 6 : STRATEGY 5 – REDUCING INVENTORY HOLDING DAYS

• 6.1 How Consignment Methods Reduce Inventory Holding Days
• 6.2 How Just-In-Time Methods Reduce Inventory Holding Days
• 6.3 How Vendor-Managed-Inventory Reduce Inventory Holding Days
• 6.4 Skill 6: Calculation of Inventory Holding Day

Part 7 : STRATEGY 6 – REDUCING ‘DEAD STOCK’ SUCCESSFULLY

• 7.1 10 Major Causes leading to ‘Dead Stock’
• 7.2 Reactive vs Proactive Strategy in Dead Stock Reduction
• 7.3 8 Systematic Steps in Reducing Dead Stock Effectively
• 7.4 Skill 7: Action Plan on Dead Stock Reduction with Gantt Chart

Part 8 : STRATEGY 7 – INVENTORY and FINANCIAL RATIO

• 8.1 Inventory vs Cash Flow
• 8.2 Inventory Roadmap – Cause and Effect Relationship leading to Financial Distress
• 8.3 Inventory Control in Financial Ratio

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