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2018 Training Courses

Engaged in Supply Chain, Procurement, Customs, Marketing to Take your Work Competitiveness to the Next Level
Advancing Inventory Management & Demand Planning
  • 152 Visited
  • 68 Joined
Date & Location:
Date: Jun 26 - 27
Location: Singapore
Training Brief:

It has been said many times that there are two types of forecasts: lucky predictions and inaccurate ones. But just because your forecast will probably never be consistently perfect, doesn't mean that you shouldn't strive to achieve the most accurate forecast possible. Indeed better forecasts lead to better business management. And in these challenging economic times is critical that you have good estimates of what will happen in the future. 

With this information you will have a better idea of what you will sell or use, what products or material to stock, where the best opportunities for success are located and how to plan what resources will be needed.

In the first part of this two day workshop we will lead you through the steps necessary to develop a successful, comprehensive demand forecasting program to meet your organization's specific needs. Instruction will be complemented by actual case studies and discussion involving participants'actual challenges.  

In the second part of the seminar we will use the results of our new forecasting practices to create a comprehensive inventory management program that will lead your firm to achieving the goal of effective inventory management:

"Meet or exceed customers' expectations of product availability with the amount of each item that will maximize profitability or minimize your total inventory investment."

Again we will accompany an explanation of "best practices" with actual case studies.  There will also be ample opportunity to discuss delegates' specific inventory challenges.

In addition to the instruction book describing all of the concepts presented in the workshop all participants will be given copies of these spreadsheet tools demonstrated in the workshop so that they can apply what they have learned in their organizations.

Learning Objective:

  • Understand everyone's role in achieving effective inventory management
  • Develop staffing requirements for a successful EIM program
  • Determine the best way to forecast sales or usage of each item considering the five "crucial" elements of the forecast
  • Develop "best practice" replenishment parameters and policies for your unique situation
  • Determine the best replenishment source for each stock item
  • Understand how to evaluate different offers from vendors
  • Implement metrics to track your progress in achieving effective inventory management
  • Understand how to store products to minimize the cost of filling orders
  • Develop policies that ensure that your inventory remains accurate
  • Compare your current inventory value and performance to your ideal inventory investment and potential
  • Create a detailed action plan for your organization to achieve effective inventory management
  • Leave with a comprehensive set of spreadsheet tools that will allow you to effectively implement what you have learned in the seminar

Testimonial:
  • Good for reiteration of what we are doing some our supply chain concept.

    Customer Service Manager, Giti Tire
  • I got new concept or points, which is helpful for me to improve in future.

    Planning Supervisor, ARC Glassware
  • Very wonderful workshop and it 's useful for me.

    Planning Specialist, Covidien