iCognitive Supply Chain Corporate Training Catalogue 2015

Inventory Management and Optimization
ICOGSC13 - 2 days workshop
Objectives
visit www.icognitive.com or contact us at workshop@icognitive.com
Contents
This workshop aims to deliver the understanding of
managing the whole ecosystem of inventory, including the
key principles and techniques. The workshop provides
complete process of inventory optimization starting from
diagnostics, training, handholding, and coaching*.
Benefits
You will learn and practice several techniques to:
• Analyze, manage and optimize your inventory
management
• Identify the goals and objectives of inventory
management, and measure their process against
these goals
• Control inventory levels
• Calculate safety stock, reorder points, and order
quantities
• Evaluate inventory management systems
• Better maintain inventory accuracy
• Understand type of inventory costs and how to
manage them
• Align strategic plan with inventory performance
management and benchmarking
Who Should Attend?
General Managers, Directors, Senior Managers of the
following departments:
• Inventory Management
• Operations
• Purchasing (Sourcing and Procurement)
• Logistics
• Supply Chain
• Customer service
• Finance
• Planners, buyers, stores supervisors and production
team leaders or supervisors
DAY 1
Inventory Management
• Introduction to Inventory Management
• Cost related to Inventory
- Inventory carrying costs
- Ordering costs
- Item costs
- Out-of-stock costs
• Making trade-offs: Total cost considerations
• Two types of demand: Independent and
Dependent
• Two types of inventory: Cycle and Safety
Inventory policies
DAY 2
Inventory Optimization
• Inventory Optimization Process
• Metrics and Performance Management
• Industry practices
o Emerging practices
o Best practices
o Standard practices
o Declining practices
• Organization and skill
• Monitoring and alerts
DAY 3
Coaching Session*
*Depending on client’s needs, customized coaching session can
be added for participants to master real inventory management
execution through knowledge sharing and hands-on support
from experienced subject expert.
iCognitive can also provide the assessment of existing of
company inventory management to be embedded in this session.
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