Seminar on Effective Inventory Management

Event Schedule:
Dec 13, 2012, All Day

Event location:
Adarsh Hamilton, #2/4, Langford Garden Road, Richmond Town, Bangalore

About the Event:
GCM Worldwide Presents Seminar on Effective Inventory Management. All organization need to maintain inventory in various forms like raw materials, work in progress (WIP) and finished products. However, maintaining inventory at optimum level is a perennial challenge. On the one hand there is risk of stock out and building up of excess inventory on the other. Hence, maintaining inventory at optimum level is essential for business organisation which can lead to additional profits. To equip the stores/ inventory professionals with effective inventory management strategies.

By taking this course participants will:-
- Understand the role of maintaining the inventory and how to release the working capital by holding a lean inventory
- Learn How to categorise the material and thereby improve the efficiency of the purchase and stores department
- Be able to take scientific decision on how to much quantity to order when suppliers gives various price discounts
- Be able to take scientific decision on how to quantity to keep in warehouse thereby avoiding excess quantity or inadequate stock
- How to measure the performance of the purchase function as a whole.

Topics to be covered:-
- What Inventory and how it impacts our business?
- Challenges in managing the inventory
- How to calculate Ordering Cost and Inventory Carrying Cost
- What is ABC (Class of materials) analysis and how to use it?
- How to improve productivity through ABC analysis?
- How to do the scientific selection of the vendors?
- What is EOQ and how to calculate EOQ for various price bands
- How to calculate Total Material Cost and its use for negotiations
- How to Determine various stock levels
- KPIs (Key Performance Indicators) for managing the inventory
- KPIs for managing the vendors
- KPIs for managing the warehouse

More About the Event:
Find more information from the event here