Lean Inventory Management

Description

This seminar is a workshop on the application of best practices in Inventory Management that presents Procedures (Methodology) to participants and provides them with software for efficient Inventory Management. By applying these tools and thanks to the online support we provide, participants will achieve spectacular improvement in the level of services they render, namely sales increase, through customers’ loyalty and reduction of the amount and cost of Inventory Management. The importance of this seminar lies in the fact that wherever successful Inventory Management Systems are applied, they yield a 30% reduction in inventory costs, accompanied by parallel improvement of customer service levels.

Course Content

Α. INVENTORY COST

Inventory Cost calculation

Fixed Order Cost calculation

Β. MANAGEMENT PROCEDURES

Inventory Management

Inventory Management performance indicators

Inventory Management control reports

Designation of Warehouse floor space

C. TOOLS – TECHNOLOGY

Barcode / R . F . I . D . systems application

Optimum stock calculation for high service level

Demand forecast

Dealing with seasonality and materials depreciation

Material Requirements Planning ( MRP )

Order Economic Quantity – Batch

Scale discounts

On line Warehouse – FIFO Systems application

ABC analysis application

D. PERFORMANCE IMPROVEMENT

Stock Reduction Methodology

Safety stock calculation

Systems based on the re-order point

Overstock identification and management

Seasonal demand management

Trade speed increase

Grouping orders for cost reduction

Grouping orders for containers filling

12 Basic Rules to Reduce Stock

Nicholas J. Michaloliakos

Chem. Eng., top manager in large international companies for 20 years, Managing Director of Advanced Quality Services Ltd, a management consulting company specialising in strategy that has participated in more than 300 integrated reengineering projects.