Professional Course

How to Reduce Inventory Levels to Increase Your Bottom Line

1 day
1 day
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Course description

How to Reduce Inventory Levels to Increase Your Bottom Line

Learn how to define, assess, prioritize, and implement inventory targets and policies.

Inventory and supply chain managers are often tasked with reducing inventory levels while maintaining high (or higher) levels of customer service. With these seemingly opposed and competing dynamics, inventory managers struggle to find ways to place the right inventory at the right place, at the right time at the lowest cost, while also balancing their planner’s time, effort, and focus. This topic will focus on how to define, assess, prioritize, and implement inventory targets and policies using an inventory segmentation model. It will also discuss how to both track performance to inventory targets and how to identify and implement additional improvements via an Inventory Health metric.

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Who should attend?

This live webinar is designed for

  • purchasing managers
  • buyers
  • contracting and materials managers
  • procurement managers
  • presidents
  • vice presidents
  • accountants
  • bookkeepers and financial professionals.

Training content

Inventory Management Overview

  • Introduction
  • Benefits of Improving Inventory Performance
  • Key Definitions and Inventory Drivers

Common Inventory Target Calculations

  • Safety Stock
  • Cycle Stock
  • Pipeline Stock

Inventory Segmentation Approach to Improve Inventory Planning and Performance

  • Segmentation Definition
  • Segmentation Approaches
  • Segmentation Policies and Strategies to Drive Improvements

Inventory Health Metric Design and Implementation to Drive Both Tactical and Longer-Term Improvements

  • Metric Definition and Calculation
  • Opportunity Identification
  • Review Process and Frequency

Certification / Credits

Learning Objectives

  • You will be able to define ways to use an inventory segmentation model to drive inventory planning and performance improvement.
  • You will be able to describe the financial benefits of reducing inventory.
  • You will be able to explain common inventory target calculations.
  • You will be able to identify inventory improvement opportunities using an inventory health metric.

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Lorman Education Services
Lorman Education Services
2510 Alpine Road
54702 Eau Claire Wisconsin

Lorman Education Services - Live and On-Demand Courses

Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...

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