In today’s competitive edge, all the organizations are gearing up to meet the challenges caused by market demand. The accent is on Improving Quality and Reducing Cycle Time & Cost. One of the methods employed is “Eliminate the Unnecessary and simplify the necessary.”
Inventory is one of the largest wastes. It devours capital, becomes obsolete and consumes space and manpower while just sitting. Inventory also hides other waste. Almost every imperfection or problem creates a need for inventory. Inventory is, thus an effect as well as a reflection of overall manufacturing Effectiveness. Inventory is probably one of the two biggest assets on your company’s balance sheet. It is an important determinant of Return On Assets (ROA) and other measures of financial performance. Carrying stock is expensive, usually 20%-40% of the average value per year. It’s easy to turn cash into inventory…the challenge is to turn inventory back into cash.
Effective inventory management plays a crucial role in the smooth and efficient running of any organization. Reducing excess inventory and investing in the right inventories leads to better customer service, better inventory turnover – and a healthier bottom line. The knowledge of Inventory Management will equip you with the fundamental tools and techniques you need to analyze and control inventory – from cost-cutting techniques to day-to-day management and the latest developments in inventory handling, including the basics of JIT and lean manufacturing. It will help you efficiently manage the flow of materials, effectively utilize people and equipment, coordinate internal activities, and communicate with customers. The knowledge of following Inventory control tools will play a key role in setting up an effective inventory Management System in an organisation.
On completion of this course, delegates will be able to better understand:
The role of inventory and stores management within the supply chain
The fundamentals of an efficient stock control system
How to manage, store and supply materials and inventories
The requirements to run an efficient and effective stores operation
Why inventory control?
How to install an inventory control system?
ABC/ VED/FSN analysis
Economic lot size
EOQ in practice
Who should attend?
This workshop will benefit executives, managers operating in the manufacturing, retail, and distribution and services industries, specifically with the following job responsibilities: Stores Management, Warehouse Management, Logistics, Operations, Dispatch & Receiving, Order & Fulfilment, Stock Control, Supply Chain Management, Distribution, Materials Management, Freight Management, Inventory Management and Manufacturing.
IITD Sr. Expert Faculty:
Highly experienced faculty from Indian Institute of Training & Development will conduct this training. The training sessions will provide participants an opportunity to discuss specific problems with the expert faculty.
Medium: English/ Hindi/ Marathi
Fees and Registration:
Rs. 3,000 + GST 18% per person.
Rs. 2,800 + GST 18% per person for a group of Three to Four participants.
Rs. 2,600 + GST 18% per person for a group of Five or more participants.
Kindly provide details for registration to Email: firstname.lastname@example.org & email@example.com; Name of the Program, name of the participants, company name, GST no., contact details.
Digital Certificate of Participation will be provided to all the participants.