During this course you will explore the relationship between supply and demand, the importance of forecasting, creating appropriate supply plans and measuring inventory to ensure continuous improvement.
It looks at the principles of inventory management from the perspective of costs and service. Keeping only the required levels of inventory within a business optimises working capital, reduces operating costs, improves customer service and contributes significantly to the bottom line.
You should attend this course if:
- you are involved in a product supply chain – either planning, procurement or operation.
You will learn about:
- the concept of inventory management
- the components of inventory
- the costs of inventory
- forecasting inventory requirements
- planning to meet inventory requirements
- measuring inventory success.
“Some really good examples were used which related the training to our business. The concepts were explained in a way I found easy to understand, and although I don’t come from an inventory environment, I have taken away useful tools which I can implement.”
Karen Garrod, EE