Introduction:

Effective inventory management and material planning are critical factors that directly impact the success of any organization or company. Inventory represents the largest investment in assets for many companies; therefore, managing it efficiently can lead to 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 manage inventory efficiently 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 assessment and analysis methods.

Develop effective material planning strategies.

Familiarize themselves with best practices in inventory management.

Improve the ability to estimate demand and forecasts.

Apply inventory control methods.

Reduce inventory-associated costs.

Enhance supply chain efficiency.

Training Methodology:

This training program will utilize 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 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:

This course is designed for warehouse and inventory managers, procurement managers, and supply chain professionals.

Program Content:

Material Planning Strategies:

Material requirements planning

Production planning

Distribution planning

Purchasing 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)

Just-in-Time (JIT) system

Fixed-Period system

Quick Response system

ABC analysis

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 Improvement:

Inventory cost reduction strategies

Improving inventory turnover

Reducing waste and damage

Enhancing inventory quality

Improving storage efficiency

Inventory Management Systems:

Information technology in inventory management

Barcodes and RFID systems

Predictive analytics

Artificial intelligence in inventory management