Inventory in the Value Chain

• The purpose of inventory in the value chain
• Classification of inventory
• Procedure for eliminating obsolete inventory
• Pareto Law in identifying product Classification
• Location of inventory
• Using Economic Order Quantity on managing inventory order levels

Demand Planning

• Basic forecasting methods
• Customer segmentation
• Hierarchy of planning
• Aggregate planning
• Maintenance & Inventory planning meeting
• Master Scheduling

Forecasting

• Principles of forecasting
• Effect of lead time on the forecasting process
• Quantitative forecasting
• Qualitative forecasting
• Tracking forecast accuracy
• ·Determining safety stock

Inventory Recording

• Period stock take
• Cycle counting
• Perpetual recording
• Utilizing Bar-cades to manage inventory and movements
• The use of Radio Frequency Identification (RFID) for recording inventory movement
• Inventory accounting

Performance Measurement

• Stock turnover rate
• Customer service
• Cost of operations
• Measuring the effectiveness of your system
• How to use the measurements
• Class exercise on selective inventory management