Inventory, if managed strategically, can work to establish and maintain a company’s competitive advantage. Whether you are a materials manager, buyer/purchaser, inventory planner, or simply need to understand inventory, this course introduces the fundamental concepts. Learn to explain to colleagues how inventory objectives must be balanced with the needs of marketing, sales, and finance. Discover the decisions that effective inventory managers make. Gain knowledge about how inventory accuracy is maintained, and apply that knowledge to create an impact.
Who Should Attend
This Inventory Management course is designed for supply chain professionals in all parts of the supply chain looking for either foundational industry practices or cross-functional understanding.
Through training, participants will be introduced to global perspectives that help conceptualize broader supply chain requirements and yield a more detailed understanding of inventory management. They will learn the following concepts and skills, that can be applied immediately in their own inventory activities:
- Recognizing the requirements for supply chain functional areas
- Analyzing tools such as inventory grids, a bill of material, and other supply chain documents
- Conceptualizing inventory flows
- Understanding the basics of industry practices such as Sales and Operations Planning
- Integrating improvement activities throughout a supply chain
Participants will also gain exposure to new technology use and hands-on experience combining proven tools to solve supply chain problems. PIM also provides a solid foundation for entering supply chain certification courses such as CPIM (Certified in Production and Inventory Management).
Inventory Management Course Outline
- Operations Management – Foundations
- Fundamentals of Inventory Management
- Purpose and Function of Inventory
- Inventory Replenishment Management
- Additional Inventory Replenishment Techniques and Inventory Performance
- Lean Inventory – Concept and Practice
- Fundamentals of Purchasing
- Sourcing Strategies
- PO Management and Performance Measurement
9 three-hour sessions