Effective Inventory Management and Forecasting

Why Attend?

In today’s world “Cash is King”. The challenge for the Inventory Manager is to consistently achieve high stock availability (Service Levels) with the lowest possible Stock Value!

This course will help the delegate to thoroughly understand the role of the Inventory Manager and equip them with the tools and techniques to optimise their performance.

Who Should attend?

Anyone involved in Supply Chain, Inventory Management and finance who has an interest in the management and movement of stock, categorisation of products / Stock Keeping Units (SKUs) and ensuring optimum availability (Service Levels) whilst minimisng stock levels.

Course Objectives

To ensure that delegates:

  •  Fully understand the role and importance of optimised Inventory Management
  •  Have a familiarality with stock replenishment systems e.g. SKU categorisation, Pareto Analysis applied to Stock Management, Kanban, MRP etc.
  •  Have a thorough understanding of the financial implications of Stock holding.
  •  Understand the role of suppliers in optimising their Inventory Management Position.
  •  Are able to influence key stakeholders to enable them to optimise their opportunity

Training Methodology

Our trainers are all FCIPS / MCIPS qualified teachers who have extensive experience of Negotiations across numerous industries including Automotive, Retail, Food / FMCG, Finance to name but a few. Collectively our training team have delivered across all levels to hundreds of delegates, both domestic and Global, over the last decade.

The course will be extremely participative and exercise driven, with many relevant examples and anecdotes provided to bring practice and theory to life.

Benefits of Attending

Upon completion of this course every delegate will be able to:

  •  Have a full understanding of the role and key objectives of the Inventory Manager
  •  Be able t categorise Stock Keeping Units (SKUs) / parts effectively to prioritise their activity
  •  Have an understanding of all key stock replenishment systems e.g. MRP, Kanban etc. and how they work in practice
  •  Recognise that suppliers and supplier relationships are critical to success and to understand what they require from suppliers to optimise their position
  •  Understand the effect that Stock holding has on Finance and the Organisation’s cashflow and the importance of the Inventory Managers role in this.

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