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 include 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.
Program Curriculum
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
