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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Agenda
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
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on May 27, 2021.
Call 1-866-352-9540 for further credit information.
- ISM 1.25
- Participants who successfully complete this program will receive 1.25 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Daniel Gravelle
EY Parthenon
- Senior Director, Working Capital Advisory Services, EY Parthenon
- B.A. degree, in economics (distinction in economics), management, magna cum laude, St. Olaf College
- Can be contacted at 507-219 8084 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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