• In this Workshop, many demand planning theories, models and best practices will be discussed which will assist the participants in dealing with various future scenarios to ensure continuous flow of the inventory at the least possible total cost
The Learning Journey:
● State the objectives of inventory management and list their impact
on cost and customer service
● Prepare proper classification of inventory and use best practices for
item specification and cataloguing
● Use forecasting techniques to predict demand and better manage
lead times
● Compute the optimum ordering quantity and determine safety stocks
and reorder points
● Schedule cycle counts, improve inventory record accuracy, and find
ways to reduce inventories
● List various techniques to reduce inventory, including Just-in-Time
(JIT)
● Identify relevant Key Performance Indicators (KPIs) to measure and
improve inventory Performance