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Essentials in Managing Inventory (Sta.Rosa Campus)

Course Name Essentials in Managing Inventory (Sta.Rosa Campus)
Schedule November 15, 2018 - November 16, 2018

Thursday - Friday

9:00 am - 5:00 pm

Venue: Ateneo Graduate School of Business - Sta. Rosa Satellite 2F Paseo 3A Building, Brgy. Don Jose, Paseo de Sta. Rosa, Sta. Rosa City, Laguna, Philippines

Price: Php 12,800
Description

Essentials in Managing Inventory is an intensive two-day workshop designed to train you, as logistics and supply chain practitioners, on essential inventory management techniques that will optimize inventory cost and improve service levels.  The course will define the effective methods and tools used in developing proper inventory levels, replenishment systems, safety stock & service levels, and control systems. 

Objectives

After the course, you will:

1. Describe the importance, purpose and activities in inventory management and control in relation to supply chain and the business at large;

2. Apply the different methods and tools used in the proper planning and control of inventory, for better cost and service level optimization;

3. Analyze and formulate recommendations on how to improve current practices in inventory management; and

4. Identify applicable inventory management performance measures.

Who should attend

Practitioners, supervisors, managers, senior executives, and suppliers involved in the areas of inventory planning, purchasing, warehouse, production planning, demand planning, distribution planning and general management.

Outline

I. Introduction
A. Supply chain management
    1. Supply chain management definition and process
    2. Four pillars - inventory and replenishment
B. Inventory in the chain
    1. Rationale for inventory                 
    2. Cycle stocks
    3. In transit and work in process inventory
    4. Safety stocks
    5. Seasonal and anticipatory stocks

II. ABC Analysis
A. Pareto's law
B. Value of inventory
C. Usage value computation
D. Steps in ABC analysis
E. Classification rules

III. Inventory Costs
A. Definition and impact to customer service
B. Capital costs
C. Storage costs
D. Inventory risks costs

IV. Economic Order Quality (EOQ)
A. Cost of inventory
B. Elements of EOQ
C. Average inventory and carrying cost
D. Ordering cost
E. Total cost and EOQ formula

V. Safety Stock Determination
A. Definition and need for safety stock
B. Methods of computation    
    1. Estimation of variability 
    2. Service level approach 
    3. Computation of stock-out penalty

VI. Inventory Control Systems
A. Cyclical or fixed order interval system
B. Visual review system
C. Order point or fixed order quantity system
D. Two-bin system or last bag method
E. Flow control system
F. Advanced inventory control systems - Materials Requirement     Planning (MRP) and Just-in-time (JIT)
G. Vendor managed inventory
H. Quadrant model
I. Square root rule for multiple locations

VII. Physical Count System
A. Annual physical
B. Cycle count

VIII. Performance Measurements

Resource Speakers
Mr. Antonio Kent M. Valderrama

has been in the Supply Chain Management since 1984. He is one of the Board of Trustees of the Foundation of the Society of Fellows in Supply Management (SOFSM).He is currently the Chairman of Bizsolv Asia, Management Consultant for Macrolite and iSteel Corporations.

Prior to this, he held various posts, such as: Logistics Director of Jollibee Foods Corporation; Vice President for Warehouse and Distribution Division of GeoLogistics, Inc., now known as Agility Logistics; Director for Operations and Logistics of Shaklee Philippines; and Logistics Manager of San Miguel Corporation’s Metal Packaging Business. 

Mr. Valderrama has a degree in Industrial Management Engineering, minor in Mechanical Engineering. He is a Certified Purchasing Manager (CPM) from the Institute for Supply Management and a Diplomate in Supply Management from the PISM. He is the Philippine country representative to the Supply Chain Asia organization based in Singapore.