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Inventory Management

13 - 14 September 2017, Mumbai

Introduction

Inventory can be millstone or a source of competitive advantage for firms. Excess materials as well as stock-outs are both an equal problem. With the continuous shrinking of lead times and the ever increasing customer demand, maintaining the right amount of inventory has become a challenge by itself. The key for firms would be to manage the delicate balance between too much and too little. The two day program has been designed to help organizations manage inventory in this dynamic industry situation.

The new dimension of space (location) has been added to the elements of timing and quantity in the inventory management domain. It is important to be able to create a policy on ‘where’ to hold inventory besides the traditional decisions of when and how much. Also important is to have a sound knowledge of the standard global practices so that firms can take maximum advantage of the existing software products. This program will precisely deliver solutions for these very pertinent problems facing industries.

Key Takeaways

On successful completion of this unit the students are expected to be able to:

  1. Define Inventory Concepts.
  2. Explain Ordering and Costs involved.
  3. Determine and forecast demand for Inventory.
  4. Perform Inventory planning and coding using MRP, MRPII, DRP and JIT.
  5. Explain Standardization, Rationalization and Variety Reduction.
  6. Understand how Stock Checking in done for records and accounts purposes.
  7. Explain equipment handling and management in Inventory Management.

Program Structure

  1. Introduction to Inventory Management
  2. The impact of inventory
  3. Physical Location and Control of Inventory
  4. Designing inventory policy
  5. Mathematical inventory models
  6. Choosing the right inventory metrics
  7. Dependent item inventory management
  8. Managing the inventory in the distribution network
  9. Balancing forecasts and production planning with inventory
  10. Understanding Inventory Valuation
  11. Inventory Management for spares
  12. Why Inventory Systems fail

Pedagogy

The pedagogy design incorporates effects of the schedule of participants. The pedagogy will include class room studies, group and individual assignments, presentations and case study. Projects will involve participants in an active discussion on the concepts discussed. Participants will work either singly or together in groups for these assignments.

ISCM will follow active learning concept – where faculty lead participants through the theoretical frameworks using case studies and thought provoking discussions. Participants will share their own challenges and opportunities. The class will then link these frameworks to their real life challenges. As a rule, each day will consist of grounding on the theoretical concepts led by the instructor and discussion, including cases and news articles relevant to the matter discussed.

Participants have to complete their suggested readings before they come to the class to make it more interesting.

Target Audience

Participant Profile: Mid to high level decision makers from Manufacturing, Procurement, Logistics, Material Handling and Sales department.

Industry Profile: FMCG, Pharmaceuticals, Engineering, Automobiles, Retail, Logistics and Industrial goods.

Investment

Rs. 20,000.00 + Applicable Tax

Note: 10% Discount for 3 or more Participant

Profile of faculty

 

 

 

 

 

 


Mr. Pradeep Khetan,

CPSM, MLS-SCM, CFPIM, CSCP, PLS, CTL

Pradeep Khetan is a Director ISM-India (Western region) and Director Certification and Supply Chain Assessment, ISCM, He is an International Master Trainer for ISM and APICS certification program, motivational speaker, coach, guide and instructor specializing in Operations and Supply Chain Management. He has trained more than thousand professionals from diversified industries.

 

 

 

 

 

 


Profile of Girish V S

Girish is the executive director at ISCM and Editor of Supply Chain Management Professional – a B2B media offering for the SCM community. He teaches Supply Chain Risk Management and Supply Chain Finance at ISCM. Girish has more than twenty five years of domestic and international professional experience.

He has extensive domain knowledge in Enterprise Risk Management, Supply Chain Finance, and Supply Chain Risk Management.

 

 

 

 

 

 


Profile of Dr. Suhas Rane

Ex Director (Planning), NMIMS and Associate Dean IBS Mumbai

Dr. Rane is a MBA Finance from JBMIS, Mumbai, and PhD in Supply Chain Management from Pune University. He has over 15 year’s association with leading MBA Institutes viz. NMIMS, SP Jain, and CII.

He was visiting Faculty: S P Jain Centre of Global Management (Dubai and Singapore Centers) and associated with Warwick and CII run MBA program as Project Guide.

Contact

Phone: 022 – 28742227/ 28746757/ 28747808,

Website: www.iscmindia.com,

Email: info@iscmindia.net