Responding rapidly to customer requirements both in terms of volume and product has become fundamental to competitive success. With customers increasingly expecting shorter lead-times, narrower delivery windows and flexibility in volume and choice, organisations face the challenge of providing high service levels whilst trying to avoid the burden of costly inventory. Agility and customer responsiveness have become essential.
This 2-day course is designed to provide understanding of contemporary demand and inventory management methodologies. It provides a range of techniques that can be used to improve forecast accuracy, optimise safety stocks and plan replenishments. It explains how the configuration and performance of other functions, suppliers and the extended supply chain play a crucial role in ensuring high service levels and customer requirements are met in a cost effective manner.
On completion of this workshop delegates will:
- Develop their understanding of good practice demand planning and inventory management
- Learn and practice skills which can be used to evaluate effectiveness of their own organisation’s approaches to these crucial areas
- Enhance knowledge which will help explain the value-adding role of the function to key stakeholders
- Develop an Action Plan towards improved demand planning and inventory management
- Be better able to share good practice with others
- The role of demand and inventory management processes within the business and extended supply chain
- Demand management approaches including
- Collaboration and effective customer and supplier management and process integration
- Forecasting techniques
- Measuring forecast accuracy for improvement
- Sales and operations planning
- Inventory Management
- Identifying and tackling the drivers of inventory
- Profiling and prioritising the product range around relevant key variables
- Developing safety stock strategy in support of organisational objectives, constraints and opportunities
- Exploration of the factors driving safety stock levels
- Techniques for sustained inventory reduction
- Inventory and Demand Networks
- Reducing the bull-whip effect
- Replenishment management approaches including quantity, frequency and location decisions
- The link between inventory strategy and distribution network configuration
- Collaborative Planning Forecasting and Replenishment
- System integration
Who should attend
- Those involved in planning the use, movement or purchase of materials, work in progress or finished goods
- Inventory managers, inventory planners, expeditors
- Warehousing and distribution personnel who respond to demand, inventory and replenishment decisions made by others
- Key staff from other functions seeking to gain and appreciation of the role and processes of the demand planning and inventory management functions
This course can be readily customised to enable client specific demand planning and inventory management policies and processes to be incorporated into workshop materials and delivery.
As an in-house workshop this training offers a great opportunity for organisations to develop, share and “standardise” good practice.
We also offer a post-course learning methodology which supports the embedding and application of good practice learned at the workshop back in the workplace, proven to deliver real value and ROI.