Inventory is both an asset and a liability. In today’s economic climate “cash is king” but there is still a need to provide excellent customer service to achieve long-term growth.. Inventory strategies can no longer be looked at in departmental isolation, they have to be linked to supplier strategies, logistics designs and (not least) customer expectations.
The seminar will look at how inventory management has been developed over the last 5-10 years. One dimension of this has been to align inventory management through the supply chain - from suppliers, through a logistics network, to end customers. Another dimension is the integration with functions of warehouse management, transport and purchasing. It will examine what new ideas, techniques and approaches have stuck and what have not.
The seminar will begin with the basics including the demand/supply balance, the role of inventory; what items should be held in stock where, how inventory targets should be set. In addition it will be considered what order strategies are appropriate and the impact of make to stock and make to order policies.
The seminar then focuses on discussing the practical ways that companies have changed their approaches to managing inventory. Ample opportunity will be available for exercises, discussion and debate – it is surprising how similar business issues are, despite industries being so different in many ways.
Agenda:
08:45 - 09:15 Coffee & Registration
09:15 - 09:30 Welcome/Introduction
09:30 - 10:30 Where have we come from...what's changed?
10:30 - 11:30 Is it all in the maths?
11:30 - 11:45 Coffee
11:45 - 12:15 An interactive game
12:15 - 13:00 Demand & Supply
13:00 - 13:45 Lunch
13:45 - 14:30 Process Integration
14:30 - 15:15 Link to Lean
15:15 - 16:00 Wrap Up
Price:
Members - £75
Non-Members - £150
To book onto this event please complete the booking form here or Contact Membership Services quoting event code IOM035.
