- The significance of sound practices
- Useful management techniques
- How to minimize safety stock, eliminate shortages and reduce expediting
- This event has passed.
Lean Manufacturing – Introduction to Inventory Management
September 12, 2023 @ 8:30 am - 5:00 pm
$325.00
This course covers the basics of inventory control and management operations and the role of inventory management within an organization’s overall supply chain. Learn how to reduce stockouts and overstocks in times of high uncertainty.
At the end of this session you will be able to:
• Recognize at least five different classes of inventory
• Explain six functions of inventory
• Identify three objectives of aggregate inventory management
• Determine the five types of inventory costs
• Calculate inventory turns and days of supply measurements
• Choose between 4 ordering methods
• Know when to use 2 different order timing methods
• Understand the ABC’s of Inventory classification and Inventory Control
• Take away a checklist to reduce inventories
About Course:
As demand shifts in a constantly changing economy, it’s important to effectively manage one of the highest asset values on your books – inventory. Presented by NJMEP, this workshop will discuss the basic concepts of inventory. Attendees will learn: