Inventory Management is the bread and butter of diverse industries; it is the main way for companies to retain a high profit margin by minimizing costs. Still, many companies suffer from several, apparently conflicting, inventory problems:

• Frequent stockouts of critical products.

• Large quantities (and value) of excess inventory and dead stock.

• Inaccurate product availability information in the computer system.

Many hope it's nothing more than a temporary growing pain on the industry's path to maturity. It won't just disappear; not without help. The inventory problem is real and requires a solution.

Key Topics:

· Dealing with the gap between senior managers and “system savvy” experts and how to close it.

· Understanding the three categories of inventory and their individual drivers.

· Setting inventory target - Taking the initiative on inventory budgeting

· Orchestrating four steps of planning from forecasts through Sales & Operations Planning, Master Scheduling and MRP

· The art of forecasting - Discovering a layman’s way of managing the process

· Managing outbound product in a DRP environment

· Supervising the purchase function – analysing its critical effect on inventory and the need for process efficiency

Key Benefits:

· Discovering the latest developments in accurate forecasting and effective demand planning

· Improving purchasing function to reduce inventories

· Engineering steps to minimise supply shortages

· Exploring ways to quantify the cost of inventory

· Manoeuvring inventory budget optimisation

· Developing effective communication between senior managers and other parties to ensure timely management of resources in varying scenarios

· Organising an effective cycle counting