Effective Inventory Management Practices to Improve Availability and Demand: Logistics Planning Forecasting & Efficient Cycle Counts

Duration: 60 Minutes
Inventory management is one of the key pillars of a successful business. While this statement would seem to go without saying, in real life effective inventory management is a very difficult objective because of all of the moving parts. Simply put, a robust and collaborative extended supply chain is required to meet the changing demands of this marketplace.
Effective Inventory Management Practices
Instructor: Tom Brouillette
Product ID: 504870
Effective inventory management requires that global complexities, along with both internal and external forces, impacting inventory processes and procedures. It is critical that inventory forecasting and planning be incorporated into the continuous improvement process guiding inventory management practices in a global market. This begins with a focus on implementing and maintaining the fundamentals of inventory management and controls including a robust program from cycle count through inventory performance supporting forecasting and planning.

Objectives of the Presentation
  • Fundamentals of inventory management and control
  • Major inventory risks and how to mitigate them
  • Market demands on the market
  • Winning collaborative opportunities
  • Collaborative inventory management
  • Impact of collaborative inventory management
  • Collaborative planning and forecasting
  • Impact on the marketplace
Why Should you Attend
Effective inventory management requires a focus on some simple processes combined with a collaborative continuous improvement program in order to support the shifting demands in the market. It is not enough anymore to execute the general and standard inventory management procedures. Organizations must expand their vision and practice to include collaboration across the supply chain. In addition to the collaborative practices the market demands a focus on continuous improvement as well. This does not mean that you can ignore the basic inventory management building blocks but it does mean that you must react and adjust in order to survive.

Today companies are pressured with shorter lead times, more variable factors and higher carrying costs. To keep costs down, companies need to accurately predict their inventory demands and improve processes to meet monetary and time concerns. This course will help you clearly understand the various functions of inventory, as well as the various forms of inventory and their role in a production operation.

Areas Covered
The successful inventory management program will be based on the following building blocks:
  • Collaboration program across the entire extended supply chain
  • Logistics planning forecasting and analysis accuracy through robust sales and operations planning
  • Cycle counts to eliminate physical inventory
    • Schedule A, B, C product counts
    • How often do you analyze the velocity?
  • Inventory turn management that includes continuous review:
    • How do you improve inventory turn?
    • How do kits impact
    • How do multi plants and multi DC impact
Who will Benefit
  • Inventory Managers
  • Inventory Controllers
  • Purchasing Procurement Managers
  • Buyers
  • Managing Directors of Smaller Companies who want an understanding of inventory
  • Warehouse Managers
  • Logistic Managers
  • Supply Chain Managers
  • Accounting Staff
  • Material managers
  • Business Owners
  • Stock controllers
  • Operations managers
$249
Recorded Session for one participant
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Instructor Profile:
Tom Brouillette is a leader in Supply Chain Management with a major third party logistics provider in the US. Tom is a respected business and technical leader with prominent 25+-year career delivering strategic enterprise solutions in the Supply Chain, eCommerce, CRM, B2B and B2C for some of the largest retailers. Tom has developed a proven track record of delivering solutions bridging the gap between strategic objectives of business and available tools and technology and he brings these skills to these discussions and to share and guide. Tom has been recognized for successful strategy development and delivery of Supply Chain Management, eCommerce, B2B, B2C, CRM, aerospace, manufacturing and health care initiatives to name a few. Tom is able to quickly understand and get to the root of the business requirements and strategy and then brings his experience to the table to define highly creative solutions that takes advantage of operations, business acumen and technology to define the most appropriate and cost effective solution.

In addition, Tom writes a regular blog that focuses on supply chain trends and issues to provide thought leadership to the industry. Tom's discussions range in topics from planning and forecasting to business culture change and collaboration. Tom has earned certificates in business process modeling from San Francisco University along with ITSM ISO Foundation Certificate in ISO/IEC 2000, in addition to a Leadership certificate from the Creative Leadership Institue.
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