Organizations have difficulty forecasting demand, and buffer inventory can be a solution to mitigate inefficiency. But this option comes at a cost. In this ISM supply management education course, learn how to approach this challenge through methodologies, models and calculations. Depending on customer expectations and supplier lead times, you’ll learn how to choose an option to meet your goals and budget.
Member Price: $135.00
- Inventory Analysis Matrix in Inventory Management:
- Understand the role of and how to use the inventory analysis matrix to build segments of inventory based on value of inventory, variability of demand and frequency of demand.
- Differentiated Strategies for Inventory Management:
- Learn about forecast targets, replenishment strategies and best practices for working with high variability parts and supplies.
- Target Inventory Levels:
- Learn how multiple variables must be factored to obtain a target inventory, including safety stock, cycle stock and stock in transit.
- Usage Rates on Inventory:
- Understand how to identify and analyze categories of slow moving and obsolete inventory that consume resources and money.
- Methods for Investment Recovery:
- Know how to think about capital costs as inventory for the purposes of recovering sunk costs.
- Discover several enterprise-wide strategies for mitigating excess capital inventory costs.
Who should attend:
New procurement and supply management professionals, as well as more experienced professionals who want to refresh and update their skills. Also, any company employee who interacts with supply management and suppliers.