Course Name

Essentials in Managing Inventory

Schedule

August 10, 2021 - August 18, 2021

Schedule via Zoom:

August 10-11, 17-18, 2021

Tuesday - Wednesday

1:00 pm– 5:00 pm

 

Essentials in Managing Inventory

Description

Essentials in Managing Inventory is an online program 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.  

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

Date shown
Off

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.
  • Introduction
    • Supply chain management
      • Supply chain management definition and process
      • Four pillars - inventory and replenishment
    • Inventory in the chain
      • Rationale for inventory                 
      • Cycle stocks
      • In transit and work in process inventory
      • Safety stocks
      • Seasonal and anticipatory stocks
      •  
  • ABC Analysis
    • Pareto's law
    • Value of inventory
    • Usage value computation
    • Steps in ABC analysis
    • Classification rules
    •  
  • Inventory Costs
    • Definition and impact to customer service
    • Capital costs
    • Storage costs
    • Inventory risks costs
  • Economic Order Quality (EOQ)
    • Cost of inventory
    • Elements of EOQ
    • Average inventory and carrying cost
    • Ordering cost
    • Total cost and EOQ formula
  • Safety Stock Determination
    • Definition and need for safety stock
    • Methods of computation    
      • Estimation of variability 
      • Service level approach 
      • Computation of stock-out penalty
  • Inventory Control Systems
    • Cyclical or fixed order interval system
    • Visual review system
    • Order point or fixed order quantity system
    • Two-bin system or last bag method
    • Flow control system
    •  Advanced inventory control systems - Materials Requirement     Planning (MRP) and Just-in-time (JIT)
    • Vendor managed inventory
    • Quadrant model
    • Square root rule for multiple locations
  • Physical Count System
    •  Annual physical
    • Cycle count
  • Performance Measurements

Mr. Antonio Kent M. Valderrama started his professional career in the practice of Logistics and Supply Chain Management in 1984. 

He is currently involved with the following companies and organizations; Vice Chairman of Bizsolv Asia, Board of Director of Bilistics Inc., Management Consultant of Macrolite and the iSteel Corporations. He is the Program Director, Supply Chain Management of the Ateneo Graduate School of Business’ Center for Continuing Education and conducts regular courses in Supply Chain Management also at the Continuing Education programs of De La Salle’s College of St. Benilde and San Beda College Alabang. 

He is a Board of Trustee of the Society of Fellows for Supply Management Foundation (SOFSM), the foundation arm of the Philippine Institute for Supply Management (PISM).

In the past, he has held various Corporate positions in the following companies. He was the Logistics Director of Jollibee Foods Corporation, Vice President, Warehouse and Distribution Division of GeoLogistics Corporation, currently Agility Logistics, Director for Operations and Logistics of Shaklee Philippines and Logistics Manager of San Miguel Corporation’s Metal Packaging Business.

He is an Industrial Management Engineering, minor in Mechanical Engineering graduate of the De La Salle University. He took his Management Development Program at the Asian Institute of Management. He is a Certified Purchasing Manager (C.P.M) from the Institute for Supply Management and a Diplomate in Supply Management from the PISM. He is also the Philippine Country representative to the Supply Chain Asia organization based in Singapore.

Register Now