INTRODUCTION FOR MANAGING MATERIAL AND INVENTORY PERFORMANCES

One of the key toward operational efficiency is to ensure material and inventory management are managed effectively to avoid disruption to processes, minimize storage cost and avoiding storing obsolete inventory.

This program is to bring awareness, knowledge and skill to participants to ensure the material management is effective to ensure the right level of inventory is stored at any one time for operational needs.

TARGETED AUDIENCE

Key participants who are encouraged to attend this program will be everyone involved in the supply chain operation, warehousing, procurement, production, planning, sales team members and middle and senior executives and managers who are involved directly or indirectly in managing the efficiency of the company inventory operation.

MODE OF LEARNING AND DURATION 

• 14 hours program broken down into 2 full day face to face classroom or 4 days x 3.5 hours per day online
• Power point presentation with notes will be provided
• Case studies to stimulate better learning
• Post test to gauge learning toward the end of the program

LEARNING OBJECTIVES

By the end of the session, participants will able to:-

• Develop understanding on fundamental and principle of inventory management
• Understand why integration is important for efficient inventory operation
• Acquired the understanding of the push and pull inventory system strategies
• Acquired understanding on challenges of Inventory Management
• Develop know how on 3^rd party risk management system
• Able to understand operational risk management and why it is important in inventory management
• Understand the role of different section in the inventory supply chain flow to manage inventory efficiently
• Understand the managing strategies to manage suppliers effectively to eliminate disruption to inventory supplies
• Develop full awareness and knowledge on how to implement effective inventory system at the workplace
• Understand Production Planning basic structure for better inventory management

COURSE CONTENT

Module 1 – Integrating the material supply chain system

• Definition of “inventory”
• Type of Inventory
• Disadvantages and Advantages of Inventory
• Inventory on business bottom-line profit
• Type of integration in supply chain
• Internal and External Integration
• Key consideration in integration
• Supply chain operational function
• Inventory Management in Supply Chain
• Procurement role in Inventory Management
• Demand Planning role in inventory Management
• Sales and Operation Planning role in Inventory Management
• Making Communication Easy
• Inventory Forecasting case study

Module 2 – Managing Effective Inventory

• Consignment stock
• Customer stock
• Vendor managed inventory
• Stock accuracy
• Inventory KPI
• Leveraging and Supplies strategies
• Inventory turnover ratio
• Inventory to Sales Ratio
• Safety stock calculation
• Reorder level calculation
• Case study – Calculating your inventory replenishment and safety stock level
• Case study – Calculating inventory turnover ratio and inventory to sales ratio
• Case study – Understanding Pareto management and how to decide the management of material and inventory

Module 3 – Supply chain inventory strategies

• Traditional Inventory system
• Understanding the Push and Pull system
• Lean Kanban
• Supermarket Kanban
• Deciding factors in choosing the best system
• Learning Pareto Analysis for Inventory control
• Case study – Understanding Pareto management and how to decide the management of material and inventory

Module 4 – Effective Procurement Strategies

• Complete cycle of Procurement Management
• Understand the Strategic and Tactical Role
• Strategic Sourcing and Selection
• Strategic Expediting
• Partnering your supplies for effective and efficient inventory management
• Procurement KPI

Module 5 – Preventing Procurement disruption – Third Party Risk Management

• Definition of 3^rd party risk management
• Cycle of 3^rd party risk management
• Securing supplies with 10 C selection and evaluation
• Conducting audit and key areas of audits
• Suppliers managing strategies

Module 6 – Strategic and Operational Risk Management in Supply Chain Management

• Definition of Strategic and Operational Risk Management
• Operational Risk Management
• Conducting Competitiveness Analysis
• Preemptive technique to avoid disruption
• Case study – Managing Risk in Inventory

Module 7 – Production Planning and Control System

• Principle of production planning and control
• Integrating the planning
• Key KPI for production planning and control

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