One-day Digital SCM Training Series
Inventory Cost Reduction
Course Length: 8 hours
Inventory is one of the biggest costs in companies, between 20%-40% for companies to carry its inventory. Meanwhile, small inventory is also not good because it will impact service level. Inventory management is a good practice for any company. If you are not keeping a watchful eye on your inventory or counting stock regularly, you are setting yourself up for potential inventory errors and challenges. Proper inventory management really can make or break your business!
For a good inventory management, your team really need to have proper knowledge, tools and methods to:
Understand what is the component of inventory cost
To sort inventory so we can focus on the highest cost
What is the source of highest cost inventory
This training will provide your team the toolkits needed to reduce inventory cost.
Inventory function in the company
Component of inventory cost: carrying, ordering, hedging, capacity cost
ABC inventory class: tools to sort the highest contribution of cost and how to reduce it
Case study: ABC inventory & calculate cost
Forecast as a reference to decide stock: forecasting method, forecast accuracy, improving forecast accuracy and how is related with inventory cost
Case study: Make a forecast, calculate accuracy, simulate decreasing forecast error and calculate the effect to inventory cost
Case study: Time phase order point, distribution requirement plan (replenish stock in distributor)
Safety stock to anticipate demand & supply fluctuation: how to calculate, decide service level that will impact inventory cost
Case study: Calculate safety stock for some service level and calculate the cost
Calculate quantity to replenish the stock and what is the influence to the cost
Case study: Lot for lot, economic order qty
Decide timing to replenish the stock and effect to the cost
WHO SHOULD ATTEND
This training has many benefits for those who involve in activities to decide the quantity of inventory, such as: material manager, inventory manager, sales & marketing.
Interactive discussions, presentations, concept introduction, examples, and exercises
Synchronous e-learning, Instructor-led & Facilitated e-learning
The course is scheduled and led by an instructor and/ or facilitator through an online learning platform. E‐learning content for individual study can be integrated with instructor’s lectures, individual assignments and collaborative activities among learners. Learners, facilitators and instructors can use communication tools such as chats, polls, application sharing and audio and video conferencing to communicate and work together.
Using interactive methods where trainees will have concept & practising using the concept with spreadsheet excel, using their own data for exercise.
25 years of experience in the manufacturing area of some multinational companies such as Mitsubishi Electric, Sony, Mattel, Pirelli Cables. Graduated from Bandung Institute of Technology (ITB) majoring in electronics engineering, gotMBA from Monash University. Certified CPIM (Certified Production Inventory Management), CSCP (Certified Supply Chain Professional), CLTD (certified logistic transportation and distribution) and SCOR-P from APICS (Association for Operation Management - USA). Currently as master instructor from APICS for preparation certification of CPIM, CSCP and CLTD, deliver APICS training in Jakarta, Malaysia and Vietnam.
Standard: 2,600,000 VND/pax
Early bird or Group registration (from 2 pax): 2,100,000 VND/pax
Register from 2 courses: discount additional 5%
The tuition fee includes:
01 Set of Printed training materials delivered to successful registrants to dedicated addresses in Vietnam
Certificates of attendance (80% of class duration)
08 hours of virtual training with certified instructors
Support from CEL Training team
The tuition fee excludes: VAT, bank charges or any other personal expenses.
SCHEDULE & REGISTRATION
For more information about schedule and registration, please contact us at or register online here
IN-HOUSE REMOTE ONLINE TRAINING INQUIRIES
If you’re looking for an in-house training delivered online remotely for your team for the above topic or particular skills or headaches in supply chains, procurement, logistics, contact us at for further details.
CEL Supply Chain Excellence Training Center