Inventory Management
February 10-11, 2022
9:00AM - 5:00PM
Inventories represent one of the most important assets any organization invests in. If inventory is not managed properly, it will represent a cost liability to the organization. The greatest potential for productivity improvement is inventory reduction, however, making sure to maintain the inventory levels improves customer service.
The function of inventory management is seldom appreciated. It seems that only when the inventories fail to generate revenues it receives attention from the responsible personnel of the organizations.
This seminar will introduce the participants to the mechanics of inventory management and follow through by introducing and demonstrating the application of these necessary resources for ensuring continued growth to the organization.
Attend this two day workshop to:
- Demonstrate the impacts of supply chain strategies to inventory investments
- Demonstrate the impacts of inventory investments on the income statement, balance sheet, profitability and return on investment
- Discuss how inventory management strategies influence the measurement of supply chain costs, service, profit and revenue
- Understand the scope and importance of supply chain performance measurement
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Explain the characteristics of good performance measures
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Appreciate the role and importance of inventory in the economy
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List the major reasons for carrying inventories
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Discuss the major types of inventories, their costs and relationships to inventory decisions
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Understand the fundamental differences among approaches to managing inventories
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Describe the rationale and logic behind the economic order quantity (EOQ) approach to inventory decision making and how this logic is used to resolve inventory management challenges
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Understand alternative approaches to managing inventories: JIT, MRP, DRP, VMI, Consignment & Supplier negotiations
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The scope and application of forecasting inventory requirements versus the benefits resulting from the reduction of cycle times
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Explain how inventory items can be classified
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Know how inventories will vary as the number of stocking point changes
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Recognize and calculate how inventories contribute to the Total Cost of Ownership
Non-member registration will include a membership until April 30, 2023 (for ON residents and new members only)
Romeo Callegaro
Professor .
Romeo Callegaro is a leader in Supply Chain Management (SCM) with 40 years of experience developing and managing SCM practices for the private and public sectors. While holding several senior management positions, Romeo has remained active at facilitating numerous SCM courses and programs for various academic institutions, including Supply Chain Canada. Since 1988, Romeo has served an active role developing, updating and facilitating numerous Supply Chain Canada courses and seminars. Romeo continues developing and facilitating in-house training programs for companies while also providing consulting services. In house training programs have included developing and managing successful planning systems (ERP), strategic procurement practices, negotiating best practices, global logistics and inventory management.
What is the cancellation policy?
A full refund will be issued on cancellations received in writing at least 10 business days prior to the workshop start date. An administration fee of $150.00 is applicable if notification is received between three and nine days prior to start date. Thereafter no refund will be available. Substitutions and transfer of registrations is permissible when received in writing three business days before the workshop start date. Credits to be used for future offerings are valid for 12 months from the date of initial payment and will expire if not used in that time frame.
What happens if the workshop is cancelled?
In the event of a workshop being cancelled or rescheduled, prior notification will be given to registrants by phone or e-mail, with the option of a full refund of registration fees or transfer of registration to another Supply Chain Canada offering.