Inventory Management and Optimization
About the Training Program
Systematic analyses and methods enable managing inventories to increase a company's competitiveness.
Inventory policies should be developed and followed to meet customer demand while mitigating risks and reducing costs.
This training covers fundamental concepts, methods and practices of inventory management and optimization.
Inventory analysis and optimization methods will be discussed with practical exercises.
Presentations and all printed training materials provided to participants are in English.
To learn more about inventory management and optimization, click here.
Who Should Attend?
- Supply chain managers and planners
- Inventory planners
- Production planners
- Factory, production and operations managers
- Planners of customer, supplier and distribution inventories
- Purchasing executives
- Raw material and spare parts planners
- Logistics and warehouse executives
- Finance and budgeting executives
- Those seeking a career in supply chain
Course Summary
- Benefits and drawbacks of inventory; roles in the business
- Inventory classification, segmentation and costs
- ABC–XYZ analysis: critical vs non-critical items
- Other classification methods: VED, FSN, HML, SDE, SOS
- Key performance indicators for inventory
Day 1:
Inventory Classification and Management
- Determining reorder/production timings
- Methods to determine correct order/production quantities
- Inventory management in MRP and Kanban systems
- Integration of inventory with S&OP, demand planning and warehouses
- Safety stock, service levels and related calculations
Day 2:
Quantitative Inventory Models and Integration
Detailed Training Contents (2 days)
- Inventories in the supply chain and competitiveness
- Benefits and drawbacks of inventory, roles in the business
- Classification by BOM and location
- How to perform detailed inventory segmentation
- Service levels and inventory-related costs
- Practical exercises
- ABC analysis: classifications by inventory value
- XYZ analysis: classifications by demand uncertainty
- ABC–XYZ matrix: critical vs non-critical items
- Other classification methods: VED, FSN, HML, SDE, SOS
- Key performance indicators for inventory
- Practical exercises
Day 1:
Inventory Classification and Management
- Inventory control and tracking systems
- Inventory principles for make-to-stock and make-to-order
- Determining reorder/production timings
- Methods to determine correct order/production quantities
- Material Requirements Planning (MRP) and inventory management
- Practical exercises
- Kanban and JIT approaches in inventories
- Integration with Sales & Operations Planning (S&OP)
- Safety stock, service levels and related calculations
- Integration of inventory management with demand planning
- Warehouse-logistics management and inventory control relations
- Practical exercises
Day 2:
Quantitative Inventory Models and Integration
Corporate References
Our trainings are preferred by leading industrial companies.
To date, 250+ training sessions have been delivered with participants from 500+ companies totaling 2500+ managers and employees.
We organized supply-chain-focused in-house trainings with the following companies.
Certification
Participants will receive a Certificate of Attendance indicating each training day attended.
About the Instructor
The training modules are delivered by Dr. İlker Guclu, the program's designer and developer.
İlker completed his BSc, MSc and PhD at Bosphorus University, Department of Industrial Engineering.
Since 2003, he has worked in industry-focused training and consulting services, with the last 15+ years focused on supply chain management and optimization.
İlker is married and a father of two.
For the trainer's CV, click here.