Inventory

Featured Speaker: Dr. Enrico C. Mina
TQM & Supply Management Consultant

November 24, 2022
9:00am – 12:00nn
*******************************************************************
Regular Rate           Php 1,699.00 + VAT starting November 18, 2022
Early Bird Rate        Php 1,399.00 + VAT until November 17, 2022
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

Inclusive of the Webinar Session, the presentation materials and the Digital Certificate ******************************************************************* 

Inventory Planning and Control

 

Introduction

Inventory refers to the stock of materials, supplies, spare parts, and other inputs that are necessary to support operations. These items are normally carried on stock (i.e., available on hand whenever needed). Inventory Planning and Control is a branch of materials management that ensures that users will have the inputs with the appropriate quality in the right quantity at the right place at the time when they are needed. The other two branches are Procurement and Warehouse Management.

Any shortage of an input at the time of need is disruptive. Production or service operations will stop, and customers’ expectations will not be served. On the other hand, stocking on inventory consumes working capital and can be very expensive in terms of tied-up capital, storage costs, insurance, security, etc. There is a need to strike a balance that will optimize stock availability at the least possible cost.

This course will deal with various techniques to achieve such a balance. It will highlight the potential application of modern technological approaches to achieve that balance.

 

Learning Outcomes

At the end of this course, the participants would have learned :

1. The ABC Classification of materials
2. Techniques for short-term forecasting of requirements
3. The application of the Economic Order Quantity
4. The application of major replenishment systems: the Fixed Order System and the Periodic Review System
5. Strategies for reducing inventory levels without disrupting operations
6. Alternative ways of doing physical inventory taking

 

Agenda 

1. What is Inventory Planning and Control?

2. Signs of poor inventory management

3. Staffing for IPC

4. The basic IPC activities

5. Classification of materials

• According to nature
• According to use
• According to value
• ABC Classification using the Pareto Principles
• Insurance items

6. Materials Identification and Coding System

7. Simple forecasting techniques for the demand for materials

• Simple moving average
• Weighted moving average
• Exponential smoothing
• Components of demand

8. Inventory costs and IPC terms

• Carrying costs
• Ordering costs
• Economic order quantity
• Reducing overall inventory costs

9. Major inventory systems

(A) Fixed order quantity system

• Last bag system
• The simple stock card system
• Reservation stock card system

(B) Periodic review system

• Topping-up method
• Mini-max method

(C) FOS and PRS compared

10. Supply Chain Management

• Automated pull system
• Third-party logistics
• Vendor-managed Inventory

11. Physical inventory taking

(A) Aims of physical inventory

(B) Types of physical inventory taking

• Periodic counting
• Cycle counting
  -Batch type
  -Frequent movement type
  -ABC Classification type

• Inventory records and reports
• Establishing inventory standards
  -The need for standards
  -Measuring IPC performance
  -Taking corrective measures against deviations

 

Who Should Attend

The course is intended for personnel who work in Materials Management or Logistics Management, particularly those involved in Inventory Planning and Control, whether at the managerial, supervisory, or technical levels.

 

Methodology

The course will use Zoom as the platform for online teaching, primarily using lectures and some exercises. There will be a Q & A portion where participants will be encouraged to raise questions and to share their experiences in inventory planning and control, including the common problems they encounter, particularly under current conditions of quarantine.

 

Featured Speaker – Dr. Enrico C. Mina

• Dr. Enrico C. Mina is an Associate Professor of the Ateneo de Manila University Graduate School of Business, who teaches various economics and business management courses. He has had 27 years of teaching experience, the bulk of which was at the post-graduate level at the AGSB. Dr. Mina returned three years ago from a three-year teaching engagement as Senior Lecturer at the Department of Business Studies of the Papua New Guinea University of Technology at Lae City, Morobe Province, Papua New Guinea. While there, he taught courses in basic economics and management and acted as the Director of the Executive MBA Program, which he helped conceptualize and design and in which he taught six courses.
• Dr. Mina also has extensive experience in the business world as manager, consultant, and trainer, particularly in the areas of Total Quality Management and kaizen (continuous improvement), operations and supply chain management, and strategic management.
• Dr. Mina is a faculty member as well at the Ateneo School of Government, teaching Applied Economics in the Public Sector. At the same time, he teaches MBA courses at the Ateneo School of Medicine and Public Health, whose curriculum seamlessly integrates medical science and management.
• He has written and published several research papers and original cases. While at PNG University of Technology, he wrote a textbook entitled Introduction to Economics for use by the university’s Department of Open and Distance Learning’s Adult Matriculation Program. He has also been the adviser of the Governance Innovation Report (equivalent to a masteral thesis) of 24 students at the Ateneo School of Government.
• Dr. Mina obtained his Doctor of Business Administration (DBA) degree from De La Salle University-Manila in 2011, his MBA from the Ateneo Graduate School of Business in 1979, and two undergraduate degrees (AB major in Economics and BSBA major in Management, Summa cum Laude) from De La Salle University-Manila in 1973.

 

In-House Training

We can conduct in-house training for the above program for your company to make it more customized to your requirements.

In the same vein, with our battery of seasoned Filipino trainers or speakers, training consultants and facilitators, we can conduct other employee development programs for your people configured to your preferences:

HUMAN RESOURCE or HR

• Basic and Advanced HR
• Recruitment or Talent Selection
• Onboarding
• Training or Learning and Development
• Job Evaluation
• Employee Compensation and Benefits

LABOR LAW

• Labor Law 101
• Flexible Work Arrangements
• Company Policy
• Employee Discipline
• Administrative Hearing
• Job Contracting

TAXATION

• Basic Taxation
• All About VAT
• Withholding Taxes
• Tax Assessment
• Percentage Tax
• Legal Strategies to Reduce Tax
• Handling B.I.R. Audit
• Employee Benefits Tax

ACCOUNTING

• Basic Accounting and Bookkeeping
• Understanding Financial Statements
• Strengthening Your Accounting Systems
• Internal Control
• Accounting for Non-Accountants
• Finance for Non-Financial Professionals

SUPPLY CHAIN MANAGEMENT

• Introduction to Materials Management
• Warehouse Management
• Inventory Planning and Control
• Modern Procurement
• Supply Management

LEADERSHIP, MANAGEMENT OR SUPERVISION

• Basic Leadership and Management Excellence
• Supervisory Leadership Development
• Developing Your Managerial Leadership
• How to Bring Out the Best in People

SALES

• Awaken the Sales Champion in You
• Professional Selling
• ExSELLence
• How to Handle Objections
• 39 Ways to Close More Sales

OTHER PROGRAMS

• Customer Service
• Telephone and Email Etiquette
• Top Techniques to improve Collection
• Work Attitude and Values Enhancement
• Mastering Verbal and Non-Verbal Communication

 

IMPORTANT REMINDERS

POWERMAX WEBINARS.  As a leading online corporate training provider in Manila, Philippines, Powermax currently offers live webinars which are designed to give you an incisive insight into a plethora of interesting and relevant topics using Zoom technology. It aims to uncork the latest updates, best practices, useful strategies, and tactics, and/or practical tips and techniques not just to widen your horizon but also to equip you with the essential knowledge and skills. Hopefully, this will also encourage you to register for the other webinars of Powermax. Just visit our site –www.powermax.ph to see our other webinars.

LIMITED SLOTS. Limited slots are available. To avoid last-minute delays and inconveniences, we advise you to please register at the latest two days or one day before the webinar event.

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.

WEBINAR 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.

 

POWER WEBINARS. Powermax live webinars are designed to give you an incisive insight into a plethora of interesting and relevant topics using Zoom technology. It aims to uncork the latest updates, best practices, useful strategies, and tactics, and/or practical tips and techniques not just to widen your horizon but also to equip you with the essential knowledge and skills. Hopefully, this will also encourage you to register for the other webinars of Powermax. Just visit our site – www.powermax.ph to see our other webinars.

A PLEASANT WEBINAR EXPERIENCE

To ensure a pleasant webinar experience, we recommend to registrants to:

1. Download and install the Zoom application beforehand
2. Ensure that there is a proper internet WIFI connection
3. Use a working webinar streaming device.

 

TERMS AND CONDITIONS

1. Definition of Terms
   • REGISTRANT – The person who has registered himself or other people for a webinar of Powermax
   • ENROLLEE(S) – The person(s) registered by the REGISTRANT
   • PAID REGISTRANT – The registrant who has paid in full for the registration of the ENROLLEE(S)
   • ATTENDEE(S) – The enrollee(s) who has / have actually attended the webinar
2. The Official Receipts will be made available for pick up at the office of Powermax Consulting Group. If you need a soft copy, we can take a picture of it and send you a copy online. However, if you want the physical copy delivered to your office, you can arrange with and pay for a local courier service like Lalamove or Grab Express.
3. Sharing of the presentation materials depends on the webinar speaker.

(a) Some speakers willingly share their materials while others don’t
(b) For the speakers who are willing to share their presentation materials

• Some prefer that the materials be sent in advance while others prefer that they be sent after the webinar
• Some prefer that the handouts to be given to the attendees are different from the PowerPoint files that they use and will not share the PPT files

Powermax cannot guarantee that the presentation materials of each webinar will be shared, or shared in advance, or will be the same as the PPT file of the speaker.

4. By joining the webinar of Powermax, you consent to interviews, photography, audio recording, video recording and its / their release, publication, exhibition, or reproduction to be used for news, web casts, promotional purposes, telecasts, advertising, inclusion on web sites, or for any other purpose(s) that Powermax, its vendors, partners, affiliates and/or representatives deem fit to use. You release Powermax, its officers and employees, and each and all persons involved from any liability connected with the taking, recording, digitizing, or publication of interviews, photographs, computer images, video and/or or sound recordings.
5. By entering the event premises (conference venue or Zoom meeting platform), you waive all rights to any claims for payment or royalties in connection with any exhibition, streaming, webcasting, televising, or other publication of these materials, regardless of the purpose or sponsoring of such exhibiting, broadcasting, webcasting, or other publication irrespective of whether a fee for admission or sponsorship is charged. You also waive any right to inspect or approve any photo, video, or audio recording taken.
6. Any form of recording and sharing of the video, image or audio of the webinar is strictly prohibited unless with the express permission of the speaker and the management of Powermax Consulting Group.
7. Your registration fee entitles your enrollee(s) to a slot in a webinar you have paid for but no record of the video of the webinar will be shared.
8. If an enrollee fails to join the webinar because Powermax fails to give the webinar link, the payment of his / her REGISTRANT will be refunded in full or if the REGISTRANT prefers, the payment will be rolled over to other webinars of his / her choice.
9. If an enrollee advises Powermax five (5) days before the scheduled date of the webinar that he / she cannot attend it, the payment for that slot will be rolled over to another webinar. But if he / she avails of the presentation materials of that webinar (assuming the speaker has shared the materials), the payment cannot be rolled over to another webinar.
10. If an enrollee fails to attend a webinar and also fails to advise Powermax five (5) days before the scheduled date of the webinar, the presentation materials of that webinar (assuming the speaker has shared the materials) will be given to him / her but there will be no option for rollover.
11. If an enrollee fails to attend a webinar because of a technical glitch on his / her device but other enrollees manage to join the said webinar, there will be no liability on the part of Powermax unless it can be established that there is a clear fault by a representative of Powermax.
12. Certificates will be given to the ATTENDEES only.
13. Questions or clarifications about the subject matter of a webinar can only be entertained by the speakers during the holding of the webinar. After the webinar, the speaker cannot be obliged to answer them through email, Facebook chat or some other means.
14. Unless asked by the speaker or the host to talk, the attendees should not unmute their microphone to avoid distracting the session. Anyone who persists in unmuting his / her audio, despite the reminder or warning, will be removed from the webinar session.
15. During the webinar, the ATTENDEES are not allowed to advertise any business competitive with the business of Powermax (seminars / webinars / events) or its sister company AGFI or Advertising and Gaming Fabrication, Inc. (signages, kiosks, podiums, gaming modules like tambiolo, roleta, pachinko; sticker and tarpaulin printing; and laser cutting)
16. We want everyone to enjoy the webinar. However, we reserve the right to remove participants who are unruly or disruptive (e.g., repeatedly making noise, spamming the chat, recording the webinar, etc.) and no refund will be made. 

Thank you and enjoy!

Keep safe and God Bless!