Course Overview for Inventory Management in the Supply and Demand Chain
This two-day training provides participants with a comprehensive understanding of inventory management within the supply and demand chain. The course covers key inventory concepts, best practices, and strategies for optimizing inventory levels, improving accuracy, and ensuring efficiency. Participants will explore demand forecasting, inventory planning, warehouse management, and technology applications to achieve supply chain resilience and cost-effectiveness.
Course Objectives
- Understand the role of inventory management in the supply and demand chain.
- Learn key inventory concepts, methods, and best practices.
- Explore demand forecasting and its impact on inventory decisions.
- Identify cost-effective inventory control techniques.
- Gain insights into warehouse management and distribution strategies.
- Leverage technology for improved inventory visibility and control.
Learning Outcomes
Upon successful completion of this course, participants will be able to:
- Apply inventory management principles to optimize stock levels.
- Implement demand-driven inventory strategies.
- Improve warehouse operations and inventory accuracy.
- Reduce costs associated with overstocking and stockouts.
- Utilize technology for efficient inventory tracking and decision-making.
Who Should Attend
- Supply Chain & Logistics Managers
- Inventory Planners & Analysts
- Procurement & Purchasing Professionals
- Warehouse & Distribution Managers
- Business Owners & Operations Managers
Prerequisites
At least one year of experience in Warehousing / Inventory Management
Course Content
Day 1
| Time | Day 1: Inventory Fundamentals & Strategies |
| 09:00 – 09:30 | Icebreaker & Introduction |
| 09:30 – 10:30 | Inventory Basics |
| – Role of inventory in the supply chain | |
| – Types of inventory (Raw materials, WIP, Finished Goods, etc.) | |
| 10:30 – 10:45 | Break |
| 10:45 – 12:30 | Inventory Control & Replenishment |
| – FIFO, LIFO, and ABC analysis | |
| – Inventory replenishment models (Push vs. Pull) | |
| 12:30 – 13:30 | Lunch Break |
| 13:30 – 15:00 | Demand Forecasting & Inventory Planning |
| – Forecasting techniques & Accuracy | |
| – Safety stock & reorder points | |
| 15:00 – 15:15 | Break |
| 15:15 – 16:30 | Challenges & Best Practices |
| – Overstock vs. stockout scenarios | |
| – Lean inventory & supply chain integration | |
| 16:30 – 17:00 | Q&A / Wrap-Up |
Day 2
| Time | Day 2: Optimization & Technology |
| 09:00 – 09:30 | Recap of Day 1 |
| 09:30 – 10:30 | Inventory Cost Management |
| – Holding, ordering, and shortage costs | |
| – Economic Order Quantity (EOQ) | |
| 10:30 – 10:45 | Break |
| 10:45 – 12:30 | Warehouse & Distribution Strategies |
| – Inventory placement & layout optimization | |
| – Just-in-Time (JIT) & Vendor Managed Inventory (VMI) | |
| 12:30 – 13:30 | Lunch Break |
| 13:30 – 15:00 | Technology in Inventory Management |
| – RFID, barcoding, and WMS | |
| – AI, IoT, and predictive analytics | |
| 15:00 – 15:15 | Break |
| 15:15 – 16:30 | Case Study & Hands-on Exercise |
| – Real-world inventory challenges | |
| – Problem Solving | |
| 16:30 – 17:00 | Q&A / Wrap-Up |
