PT Intipesan Penyelenggara Seminar, Training, Outbond & EO

EFFECTIVE INVENTORY MANAGEMENT

Why Inventory Management

Is inventory an asset or a liability? For users, inventory is definitely an asset, the more the better. But financially, inventory is a burden that cannot be avoided. When cash is used to buy materials for inventory, company loses the opportunity of receiving interest; therefore, the more cash is transformed into inventory the more opportunities of getting benefit for other purpose is lost.

The key in effective inventory management is to manage inventory such that it can support the operations (highest service level) and yet it is done at the lowest cost. Too much inventory is bad and too few is also bad. Therefore, we have to find the optimal inventory through effective inventory management. This course will discuss various inventory model that fit with your need.

Who Should Attend

Inventory Planners and their staff
Logistics Manager and staff
Warehouse Manager and staff
Cost controller and staff
Finance managers and staff
Procurement managers and staff

Course Outline

First Day

Fundamentals of Inventory Management
Fundamentals of Materials Management
The Concept of Internal Supply Chain
The Needs for Inventory
The Concept of Just-In-Time Inventory
The Classification of Inventory
The Concept of Service Level
The Costs related to Inventory
- Inventory Holding Cos
- Ordering Cost
- Stock-out Cost
The Risks of Inventory
Types Inventory Systems :
- Inventory for Dependent-Demand Items
- Inventory for Independent-Demand Items

Second Day

Inventory Models :
- Single-Period Model
- Discrete Inventory Models
- Fixed-Order Quantity Model (EOQ)
- Fixed-Time Period Model
- Optional Replenishment Model
- Two-Bin Model
- One-Bin Model
- Minimum-Maximum Model
Material Requirement Planning (MRP)
Safety Stocks
The Accounting of Inventory (FIFO, LIFO)
Inventory (Stock) Taking (perpetual and annual)
Inventory Turn Over
Inventory Management for Projects
Warehouse Management
Evaluation