Digital World-class SCM Training - Inventory Management Series

SAFETY STOCK MANAGEMENT

Course Length: 08 hours 

Training Language: English 

 

Growing market, unstable demand, more SKUs (stock keeping units), with small order quantity (qty), become a challenging situation for demand planners in managing strategy for inventory. High inventory will increase customer service level but also increase cost.

 

This training will provide you the strategy & technique to determine the right safety stock to keep maintain a high service level for customers.

 

 

LEARNING OBJECTIVES

At the end of training, trainees will understand:   

  • Factors in determining safety stock

  • Determine the right service level with the right cost

  • Determine qty of safety stock based on demand fluctuation

  • Forecast error and relation with safety stock

 

WHO SHOULD ATTEND

This training is important for:  

  • Production Planners

  • Material Managers

  • Material controllers

  • Master schedulers

  • Warehouse managers

  • Finance/accounting managers

 

COURSE OUTLINE

  • Objective & responsible for Inventory Management.

  • Inventory costs: carrying cost, ordering cost, capacity related cost, stock out cost

  • Forecasting: quantitative & qualitative, forecast errors, forecast bias, how to detect  errors forecast, relation of forecast errors & safety stock (exercise using excel spreadsheet).

  • Determine safety stock based on  deviation of demand, & service level (exercise using excel spreadsheet).

  • Determine the right service level with the right cost (exercise using excel spreadsheet,  using trainees own data for simulation).

  • Calculate inventory carrying cost vs cost of lost sales if safety stock less than demand.

 

APPROACHES 

  • Active classroom learning.

  • Exercise with excel spreadsheet.

  • 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.

 

WORKSHOP LEADER

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, got MBA 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.

 

TUITION FEES 

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

June 27 & July 04 2020 8AM - 12PM (GMT+7)

 

REGISTRATION 

For more information and registration, please contact us at media@cel-consulting.com or register online here https://www.cel-consulting.com/inquire-training

 

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 media@cel-consulting.com for further details. 

 

CEL Supply Chain Excellence Training Center

media@cel-consulting.com

www.cel-consulting.com

#CEL #CELconsulting #onlinetraining #onlinesupplychaincourses #warehouse #inventorymanagement #inventoryrecord #safetystock #stockcontrol #costreduction

 

©2020 by CEL Consulting.