Supply chain management and logistics encompasses all the activities involved in getting products to consumers including planning, storing, moving, and accounting for inventory. Inventory availability is the most important aspect of customer service, and the cost of inventory is one of the most important entries on a company's balance sheet.

Recognition of the balance sheet implications of inventory in supply chain management has launched a variety of industry-wide inventory reduction initiatives. Despite all these initiatives to reduce inventory in the supply chain, inventory levels for most companies have remained the same or increased. This course is focused on understanding how to efficiently provide the level of inventory that is really necessary for customer service while minimizing the inventory resulting from poor supply chain management.

WHO SHOULD ATTEND

• Executives and managers responsible for supply chain and logistics
• Supply chain management professionals
• Supply chain engineers and analysts
• Inventory planners and analysts
• Manufacturing and process engineers
• Industrial engineers and systems analysts
• Production and warehouse supervisors and team leaders
• Supply chain and logistics consultants
• Purchasing managers
• Transportation managers and engineers

HOW YOU WILL BENEFIT

Upon completion of this course, you will be able to:

• Understand the use of inventory throughout the supply chain
• Develop inventory strategies to support business strategies
• Analyze tradeoffs between inventory costs and customer service levels
• Determine how to measure and improve inventory performance
• Understand and manage variability that impacts inventory
• Evaluate how to tradeoff transportation and inventory costs
• Determine how to optimize inventory levels to meet service requirements
• Understand the basics of inventory and forecasting technology

WHAT IS COVERED

• Inventory fundamentals
• Assessing inventory cost and value
• Inventory replenishment
• Inventory positioning and determining what to stock
• Perishable inventory
• Forecasting and demand sensing
• Forecasting and inventory management technology
• Improving inventory performance
• Inventory planning trends and innovation

ON-CAMPUS COURSE MATERIALS

Participants receive a course notebook.

COURSE PREREQUISITES

None.

CERTIFICATE INFORMATION

This course is part of the Supply Chain Management (SCM) Certificate and can also be used towards the Strategic Sourcing and Supply Management (SSSM) Certificate.

PROGRAM TIMES

On the first day, please check in at least 30 minutes before the class start time.

• First Day (8:00am-5:00pm)
• Second Day (8:00am-5:00pm)
• Third/Last Day (8:00am-5:00pm)