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INVENTORY PLANNING, MANAGEMENT & CONTROL
Today’s business environment
- Impact of the Supply Chain
- Lean thinking principles
Forecasting
- Forecast process strategies
Demand Management
- Monitoring the forecast for variation
Planning for Inventory
- Inventory item classification (80/20 – ABC Analysis)
Inventory Management and Control
- Why carry inventory?
- Inventory management versus control
- Safety stock, why, and how much?
- Service policy a realistic necessity
Reducing Inventory Programs
- Techniques to employ.
- Pareto’s Law
- Lead time reduction
- Vendor Managed Inventories (VMI)
Overview of the webinar
Today’s economics in business has brought many companies to address major investments like inventory with a limited results solution of outsourcing the function and/or activity. Procurement Services & Contract Manufacturing activities are typically what has been employed. Some reduction of inventory occurs BUT it is minimal as to what it could be.
To achieve a level of significant reduction (more than 20% improvement, per a research agency) throughout the supply chain, a deeper awareness of what creates inventory needs to be understood. WHY? Certain actions taken will only provide a short-term impact/result.
The presentation will provide the basic foundations of the principles driving inventory decisions. It will include interfacing functions that have an influence on investment.
instruction will deal with premises and practices that necessitate some inventory but end up becoming drivers of day-to-day activities.
The focus of the enterprise needs to be a balance and minimization of the inventory level “ALL THE TIME”.
Who should attend?
- Supply Chain Director
- Materials Mgr.
- Inventory Planning & Control Mgr.
- Inventory Planners
- Warehouse Mgr.
- Buyer
Why should you attend?
- What is the frequency of the adjustments to a Forecast and what precipitates it?
- How to determine what the Cost of Carrying Inventory is and its importance
- How to determine which is the appropriate replenishment technique to employ
- How to define what is the appropriate inventory level
- What level of investment is required to ensure 99% customer service?
- How to get control of my inventory accuracy errors?
- What are the Key Performance Indicators (KPI)
Faculty - Mr.Michael Gozzo
Michael W. Gozzo is President and Founder of THE TOTAL BUSINESS CONSULTING GROUP, LLC., a firm specializing in counseling and education of all levels of management in the areas of Supply Chain, Lean Manufacturing, Demand Flow Technology, Just-In-Time, Total Quality Control, Manufacturing Systems Implementation, Inventory Control, and Production/Operations Management.
Recent involvement with Silicon Valley leader’s in Supply Chain Management, Lean Manufacturing practices and ISO includes Cisco, Infineon, Sunrise Telecom, PerkinElmer, Philips Semi-conductor, and SanDisk. Mike Gozzo went to Germany to train operational personnel at Lufthansa Air Cargo. He has been associated with Lean practices: pull systems, quick change, 5-S, VMI, cell design, and others.
Mike has traveled and worked extensively in Canada, England, Hong Kong, Ireland, Scotland, Germany, Japan, Korea, Mexico, Indonesia, South Africa, Thailand, Bahrain, U.A.E., Qatar, Saudi Arabia, Oman, and Taiwan.
He has an Executive Program Masters Business Administration Degree from the University of New Haven, as well as a Bachelor of Science in Finance from the University of Connecticut.
He is certified as CPIM & CSCP by the Association of Operations Management (APICS)/Association of Supply Chain Management (ASCM).
Mr. Gozzo is the co-author of "Made In America - The Total Business Concept" and several other books and numerous published articles. He has developed over 50 courses that can be customized for the respective client.