Year-End Inventory Planning and Management

 

Program Overview

This comprehensive masterclass is designed to help you develop a deep understanding of the principles and best practices of inventory planning and management. Through interactive discussions, individual activities, and practical recommendations, you’ll gain a thorough understanding of how to effectively plan and manage inventory levels to meet customer demand, reduce stockouts and overstocking, and improve overall supply chain efficiency. It will also provide you with the opportunity to engage with a seasoned expert and peer-to-peer discussions, sharing best practices and lessons learned to further enhance your knowledge and skills.

Objectives

• Understand the essence and principles of inventory planning, including how to balance demand and supply to optimize inventory levels
• Identify the issues and framework of inventory management, including the importance of accurate forecasting and demand planning
• Build a working knowledge on ensuring proper warehousing inventory planning and management, including how to implement effective inventory control measures
• Recognize the different types of inventories (resale, production, MRO) and how to categorize them based on their importance to the business
• Prioritize products by activity, cost of goods sold, and profitability, taking into account factors such as lead times and storage requirements
• Develop strategies for managing resale inventory, including how to optimize stock levels and reduce stockouts
• Identify the critical nature of MRO items and develop strategies for managing these items
• Understand the difference between dependent and independent demand, and how this affects inventory planning and management
• Recognize risk challenges in inventory affecting costs, including obsolescence, damage, and theft
• Define the areas of inventory management (acknowledgement, checking conditions, stocking and storage, picking) and understand the importance of each stage in the inventory process
• Develop a framework for inventory control, including how to set targets and metrics for measurement

Major Takeaways

• The importance of inventory planning in warehouse operations, including its impact on customer satisfaction and business profitability
• The challenges and risks associated with inventory management, including the need for accurate forecasting and timely decision-making
• The different types of inventory and how to prioritize them based on business objectives and customer needs
• Strategies for managing resale and MRO inventory, including how to optimize stock levels and reduce waste
• How to identify critical items in MRO inventory and develop strategies for managing these items effectively
• The importance of distinguishing between dependent and independent demand, and how this affects inventory planning and management decisions
• The impact of risk challenges on inventory costs, including the need for robust controls and contingency planning
• The key areas of inventory management that require attention, including acknowledgement, checking conditions, stocking and storage, picking

 

Outline of Topics

Module 1: Understanding Warehouse Inventory

• Beyond Function – essence of warehouse and inventory
• Reality check on warehouse in an evolving new normal landscape
• Different types of inventory:
  • Resale
  • Product
  • Maintenance, repairs, and operations (MRO)
• Ranking products by activity, cost of goods sold, and profitability
• Resale inventory – ensuring inventory is profitable
• MRO inventory – determining the “critical nature” of each item

Module 2: Fundamentals of Inventory Management

• The difference between dependent and independent demand
• Risk challenges in inventory affecting costs
• Essence of managing – why inventory needs critical management
• Defining the areas of inventory management:
  • Acknowledgement of items challenges
  • Checking of conditions challenges
  • Stocking and storage challenges
  • Picking challenges

Module 3: Inventory Control Initiatives

• Essence of control in inventory
• Framework of inventory control
• Process stages in inventory control
• Blending inventory management and inventory control

Module 4: Effective Warehouse Operations and Management Strategies

• Strategies for managing resale inventory, including optimizing stock levels and reducing stockouts
• Ensuring efficient inventory movement and storage, minimizing waste and reducing shrinkage

Module 5: Advanced Supply Chain Visibility and Analytics

• The importance of supply chain visibility in warehouse operations
• Using data analytics to optimize warehouse operations and reduce costs
• Successful implementation of supply chain visibility and analytics

Module 6: Identifying and Mitigating Risks

• Understanding risk challenges in inventory affecting costs
• Identifying areas of high risk in warehouse operations
• Developing strategies for mitigating risk and minimizing losses

Module 7: Implementing Effective Inventory Systems

• Designing an effective inventory system for your organization, including implementing inventory tracking and monitoring systems
• Ensuring accurate inventory reporting and analysis

Module 8: Measuring and Improving Performance

• Developing key performance indicators (KPIs) for inventory management, including measuring and analyzing inventory performance metrics
• Identifying areas for improvement and implementing changes to optimize inventory management.

Module 9: Advanced Inventory Optimization Techniques

• Extensive review of advanced optimization techniques for warehouse operations, including simulation modeling, data analytics, and artificial intelligence (AI)
• Successful implementation of advanced optimization techniques in real-world scenarios

 

Resource Speaker

Prof. Ricky De Vera, MBA, CSP, CMP
Certified Business Consultant – Japan/Singapore

Click here for his profile.

 

 

Training Investment

REGULAR RATE
Php 1,699.00 + VAT

EARLY BIRD RATE
Php 1,399.00 + VAT until December 6, 2024

GROUP RATE
Php 1,299.00 + VAT per pax for 5 – 14 pax

SUPER GROUP RATE
Php 1,099.00 + VAT per pax for 15 or more pax

BIRTHDAY MONTH PROMO – FREE SEAT
Register within Your Birthday Month with at least 2 Paid Pax @Php1,699.00+ VAT per pax (Must present proof of date of birth)

JOIN NOW PAY LATER PROMO
Pay After 30 Days from the date of the Masterclass @ Php1,899.00+ VAT per pax

Presentation Materials and the Digital Certificate will be provided

 

 

In-House Training

Looking for customized in-house training in HR, Labor Law, Taxation, Accounting, Supply Chain Management, Soft Skills, or similar areas?

Click here for more information.

 

 

IMPORTANT REMINDERS

REGISTRATION.
You must register or be registered by someone else to be able to join our webinars.  Webinar access links are strictly sent through email therefore make sure you indicate the right email addresses for the participants. Please indicate how many participants you wish to include before hitting the REGISTER NOW button.

CHECK OUT.
When you go to the Checkout Page, double-check the number of participants you have to register, if you change your mind or wish to make last-minute adjustments, do not forget to update your cart by clicking the UPDATE CART button.  Once everything is final, you may now click the PROCEED TO CHECK OUT button.

BILLING DETAILS AND THE NAMES OF THE PARTICIPANTS.
On the upper portion, you have to enter your details (esp. your email address) as the one paying for the registration. Underneath, you have to enter the details (esp. the email addresses) of the participants you wish to join the webinar.

 

PAYMENT
POWERMAX provides three (3) payment options:
(1) Bank Deposit/Online Bank Transfer
(2) G-Cash
(3) PayPal/Credit or Debit Card Through PayPal 

Bank Deposit or Online Bank Transfer / G-Cash
If you choose Bank Deposit/Online Bank Transfer or G-Cash, you have to send the proof of payment to info@powermax.ph.

IMPORTANT:
Proof of payment must be sent to info@powermax.ph.  Failure to send the proof of payment to info@powermax.ph means the participants will not receive the webinar links even if the proof of payment is sent to other contact details of Powermax or its representatives (e.g., Facebook, Messenger, Viber, other email addresses, etc.).

Payment Through PayPal
If you choose to pay for your registration using PayPal you may do so.  Please take note that PayPal also accepts Debit Cards and Credit Cards bearing the VISA and Mastercard logo. Unlike the Bank Deposit/Online Bank Transfer, the PayPal process automatically updates our system to issue the participants their access to our webinars.

Masterclass access links.
Once payment is made and verified, we can activate the spot on the webinar then we can send the webinar access links to the email addresses of the participants – this only goes with Bank Deposit/Online Bank Transfer / G-Cash.  However, for payments made using PayPal, the activation process is automatic. Note that your webinar access link cannot be shared with anyone else.  If you cannot attend on the date and time of the webinar kindly advise us at the latest one day ahead. 

Terms and Conditions.
By registering you agree to our Terms and Conditions and acknowledge our Privacy Policy.

 

Thank you and enjoy!

Keep safe and God Bless!