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Principles of Inventory Management (PIM)

Informa Middle East
Course summary
4 days
4,995 USD excl. VAT
English
Open / Scheduled
Next available date: Enquire for start date information - Worldwide
Course Dates
London
Enquire for start date information  (English)
4,995 USD
Worldwide
Enquire for start date information  (English)
4,995 USD

Course Description

Managing inventories is a very important task. Inventoriesaccount for an enormous portion of a firm’s cash expenditure,ranging anywhere from 10 percent to as high as 60 percent ormore. Failure to effectively manage inventories can result inexcess costs that drag down company profitability and createmismatches between what is available and what customersreally want. This course will focus on the purpose and functionof inventory and inventory replenishment management.

The emphasis will be on improving your company’s inventorymanagement, demand planning, forecasting, and S&OPmethods and processes which will have an immediate impacton your company.

The Course Director, Ravindra, is a senior educator withKnoWerX Education and will use his wealth of real-worldexperience to provide valuable education for empowering youwith the knowledge and skills to minimise inventory andimprove customer fulfilment and retention during any marketcondition.

Outcome / Qualification etc.

  • Fundamentals of Inventory Management: Recognise the role of inventory management, basic inventory flows, classes of inventory, and the inventory planning process
  • Purpose and Function of Inventory: Explore the purpose and functions of inventory, inventory management challenges, costing and valuation, and obsolete and excess inventory management
  • Inventory Replenishment Management: Practise basic ordering techniques such as the Economic Order Quantity (EOQ), lot sizing rules, stock replenishment concepts, measuring demand uncertainty, order point concepts, and understand the role of safety stock
  • Inventory Replenishment Techniques and Inventory Performance: Understand concepts of ordering with supplier lead time uncertainty, the Time Phased Order Point (TPOP), replenishment by class, ABC classification, inventory accuracy, physical inventory and cycle counting
  • Lean Inventory Theory and Practice: Explore the lean philosophy, inventory waste elimination strategies, lean inventory practice techniques, quality management, and continuous improvement

Benefits

  • Fundamentals of Inventory Management: Recognise the role of inventory management, basic inventory flows, classes of inventory, and the inventory planning process
  • Purpose and Function of Inventory: Explore the purpose and functions of inventory, inventory management challenges, costing and valuation, and obsolete and excess inventory management
  • Inventory Replenishment Management: Practise basic ordering techniques such as the Economic Order Quantity (EOQ), lot sizing rules, stock replenishment concepts, measuring demand uncertainty, order point concepts, and understand the role of safety stock
  • Inventory Replenishment Techniques and Inventory Performance: Understand concepts of ordering with supplier lead time uncertainty, the Time Phased Order Point (TPOP), replenishment by class, ABC classification, inventory accuracy, physical inventory and cycle counting
  • Lean Inventory Theory and Practice: Explore the lean philosophy, inventory waste elimination strategies, lean inventory practice techniques, quality management, and continuous improvement

whoshouldattend

  • Supply Chain Managers and Analysts
  • Material Managers/Inventory Managers/Stock Managers
  • Logistics professionals
  • Supplier/Vendor management professionals
  • Project Managers
  • Business Analysts
  • Consultants

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Provider: Informa Middle East

Informa Middle East

Informa Middle East offers a broad selection of open courses and in house training programmes, covering the key professional areas: Finance and Investment, IT and telecommunications, HR, Business Administration, Health & Safety and Marketing. Informa Middle East is part of...


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Contact information for Informa Middle East

Informa Middle East

Level 20 in the World Trade Centre Tower,
PO Box 9428
Dubai

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Expenses

The cost of this Informa training course is USD 4995 per delegate, inclusive of lunch and refreshments.Valuable Savings Early bird discounts are available for all of Informa's courses, and special offers are applicable on select courses throughout the year. In-Company Training Save up to 40% – If you have 6 or more people interested in attending, Informa can provide you with a customised training solution that meets the learning and development needs of your team and business. This training programme can be delivered as in-house training for your staff, anywhere in the region.
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