Inventory Management
(for Supply Chain, Warehousing, Materials, Procurement & Inventory Professionals)
Inventories are materials and supplies that a business or institution carries either for sale or to
provide inputs or supplies to production processes. All businesses and institutions require
inventories. Often, they are a substantial part of total assets.
Financially, inventories are very important for manufacturing companies. On the balance sheet, they
usually represent from 20 to 60% of total assets. As inventories are used, their value is converted
into cash, which improves the cash flow and returns on investment. There is a cost of carrying the
inventories, which increases operating costs and decreases profits. Good Inventory Management is
essential.
Inventory Management is responsible for planning and controlling inventory from the raw materials
stage to customers. Since inventory either results from the production or supports it, the two can not be
managed separately and therefore must be coordinated. Inventory must be considered at each
planning level and is thus a part of production planning, master production scheduling, and material
requirement planning.
For whom
• Currently working in Warehouse/Stores, Materials, Operations, Finance, Procurement,
Supply Chain, Inventory Control areas
• Who wants to enter the above areas from other domains?
Thoughtware Training Pvt Ltd.
• Looking for optimizing the Inventory
• Wants to understand practical issues and methods to resolve them
• Students and freshers
Benefits Of The Program
• Learn from APICS certified and recognized Trainer
• Trainer is a global expert in Supply Chain operations and solutions, with 3 decades of
Industrial experience
• Online, live and interactive
• Networking with diverse professionals, across various locations
• Will help those preparing for Global certification programs like APICS CPIM Part 1
• Priced substantially low compared to similar programs conducted by certified professionals.
This price is available for only this program schedule
Contents Of The Program
• Inventory Fundamentals
o Aggregate inventory management o Item Inventory management
o Inventory and flow of materials
o Supply and demand patterns
o Functions of Inventories
o Objectives of Inventory Management o Inventory costs
o Financial statements and inventory
o ABC Inventory control
• Order Quantities
o Different methods o EOQ
o Quantity discounts o Period order quantities
• Independent demand ordering system
o Order point system
o Determining safety stock
o Determining service levels
o Different forecast and lead time intervals
o Distribution inventories
• Physical Inventory Management
o Physical control and security
o Inventory record accuracy
o Consignment and Vendor Managed inventories
Training Materials:
Please note the following for this economic edition
# PDF slides will be provided at the end of each session
# Recorded video link/ login id will be provided to those participants who request the same.