Introduction:

Inventory management and material planning are vital factors that directly impact the success of any organization or company. Inventory represents the largest investment in assets for many companies, and effectively managing it can result in significant cost savings and improved financial performance. This course, "Inventory Management and Material Planning," aims to provide participants with the knowledge and skills necessary to efficiently manage inventory and enhance material planning.

Course Objectives:

By the end of the course, participants will be able to:

Understand the principles and core objectives of inventory management.

Identify demand planning principles and their importance in the effective performance of warehouses.

Learn inventory evaluation and analysis methods.

Develop effective strategies for material planning.

Recognize best practices in inventory management.

Improve the ability to estimate demand and forecasts.

Apply inventory control methods.

Reduce costs associated with inventory.

Enhance supply chain efficiency.

Training Methodology:

This training program will use a combination of theoretical sessions, interactive discussions, practical exercises, and case studies to facilitate a comprehensive learning experience. Participants will engage in practical activities and group exercises to apply the concepts they have learned and enhance their problem-solving skills. Real-world examples and industry best practices will be shared to provide practical insights into material planning and inventory management.

Target Audience:

Warehouse and inventory managers, procurement managers, and those responsible for supply chain management.

Program Content:

Material Planning Strategies:

Material requirements planning.

Production planning.

Distribution planning.

Procurement planning.

Demand planning.

Introduction to Inventory Management:

Importance of inventory.

Types of inventory.

Carrying cost of inventory.

Stockout cost.

Inventory performance indicators.

Inventory Control Methods:

Economic order quantity (EOQ) model.

Fixed quantity system.

Fixed period system.

Quick response system.

Just-in-time inventory control.

Demand Forecasting and Inventory Planning:

Forecasting techniques for demand estimation.

ABC analysis and inventory classification.

Economic order quantity (EOQ) model.

Safety stock management and service level improvement.

Time management and demand cycle planning.

Cost Reduction and Efficiency Enhancement:

Inventory cost reduction.

Improving inventory turnover.

Minimizing losses and damages.

Enhancing inventory quality.

Improving storage efficiency.

Warehouse Management Systems:

Information technology in inventory management.

Barcode and RFID systems.

Predictive analytics.

Artificial intelligence in inventory management.