Supply Chain Directors, Managers and other professionals who have responsibility for inventory management and physical storage.
Objective: Explain the concept of ABC inventory analysis and its application to inventory management. Perform a simple ABC analysis. Understand the pull and push requirements planning systems. Analyze the importance of good inventory management, classification of inventory based on flow of material, functions inventories perform, objectives of inventory management Real case studies will be used to augment the learning experience.
10. Stock out costs Backorder Lost Revenue/Sales Lost Customer
11. Inventory Turns Purpose Calculation
12. Cycle Counting Purpose Frequency Using ABC Benefits 13. Order Points Lot-for-lot Fixed order quantity Economic order quantity
14. Safety Stock Variability of demand Frequency of ordering Desired service level Length of the lead time Ability to forecast
15. Service Levels Measure Monitor
Review and wrap up (Q & A and comments)
Mr. Kelley has over 30 years of key leadership roles with multi-national companies. His responsibilities covered Sourcing, Purchasing, Supply Chain, Operations, Materials, Finance, Customer Service, Strategic Planning, Logistics, Quality Assurance and Information Systems. International business experience spans nine countries in the Far East, five countries in Europe, as well as Mexico and Canada.