Demand Planning.Net: Are you Planning By Exception?
Demand Planning.Net
demand planning, forecasting, and exception management

Inventory Optimization for Supply Chain Planning - Boston - MA

Boston, MA
Date: Feb 27 - 28  , 2020;


Location : Hilton Boston-Burlington


 

View and print seminar brochure (PDF)

Register Now at an Early Bird Price of $1095 $995

Contact for Registrations & Enquiry at (781)-995-0685 / Contact US

This program has been developed to communicate industry best practices in the area of inventory management to Supply Chain professionals. This workshop aims to provide the necessary technical background to enable attendees to develop & implement best practices & procedures in materials management into their own business units.

This workshop will holistically present the best practices and explain the concepts and calculations for optimizing your inventory parameters. We preach true inventory optimization - help you to establish the right parameters your process and systems may need to run a lean machine with just optimal inventories to deliver the service and fill rates.

This is a hands-on, practical workshop with many exercises and case studies and excel based work out problems. Every planner and material manager will leave the training hall with a diverse skill set to do their day to day jobs.

 
Who Should Attend?
  • Production Planners
  • Supply Chain Analysts
  • Director of Supply Chain
  • Director of Value Chain
  • Analysts in the Supply Chain
  • Inventory Planners
  • Operations Planners
  • Financial Analysts
  • Director of Logistics
  • Director of Customer Service
  • Learn from industry experience
     
    Network with peers

    You will have the opportunity to meet, interact, and learn from other demand planning professionals with team challenges and networking exercises.

     
    Add to your credentials - This is a pre-requisite for our Certification

    Upon completion, you will be awarded a certificate of completion from Demand Planning LLC, attesting to your newly-acquired skills in Inventory Optimization for Supply Chain Planning.  

    Detailed Outline of the Workshop:

    Day 1

    8:30AM to 4:30PM

    Day 2

    8:30AM to 5:00PM

    • 8:00am — 8:15am Registration
    • 8:30am — 10:30am SCM Process - Demand/Supply planning
      • Overview of Demand/supply and MPS Process
      • Production Strategies
      • Key objectives of supply chain management – Customer demand fulfillment
      • S&OP as the key driver of monthly planning process
      • Inventory impact on functional Stakeholders
      • Why Forecast and Plan?
      • The Service – Cost – Balance Model
      • Introduction to Demand Planning- What, Why and How?
    • 10:30am — 10:45am Coffee Break
    • 10:45am — 12:30pm Introduction to Inventory Management Principles – Why carry inventory?
      • Inventory Categories
        - Direct materials
        - Indirect Materials
        - MRO OEM
        - MRO Industrial
      • Inventory Strategies
        - Make to Order
        - Make to Stock
        - Build to Order/ Mass Customization/ Postponement
        - Engineer to Order
      • Purpose of Inventory
        - Buffering
        - Hedging
        - Decoupling
    • 12:30pm — 1:30pm Lunch Break
    • 1:30pm — 2:45pm Product Segmentation and ABC analysis– SKU Segmentation for inventory strategies ABC analysis – Classification philosophy Pareto analysis of SKU's based on dollar usage Item Criticality as factor of Sales Service and Lead time Frequency of Usage Excess, Obsolete and Slow-moving
      • Discontinuance and end of life (EOL), as appropriate
      • Process flow for segmenting sku's using the above techniques
        - Example using a three dimensional matrix; ABC / Volume / Critical / Status: excess, obsolete Impact of Segmentation on Cycle Counting and Inventory accuracy
      • 2:45pm — 3:00pm Coffee Break
      • 03:00pm — 04:15pm Measurement and KPIs Forecast Error, Customer Service and Inventories.
        • Service Level measurements
          - Fill-Rate and On-time Delivery
          - Order complete
               • Service Metrics exercise
        • Inventory Performance Measures
          - Inventory Accuracy
          - Inventory Turns
          - Days on Hand
        • Forecast accuracy - MAPE, MAD, MPE, and RMSE
          - Calculation exercise
        • Supplier Performance Measures
          - Schedule Adherence
          - Lead Time Adherence
        • Relationship between Schedule Adherence, Customer Service and Inventory Availability
      • 04:15pm — 05:15pm Digital Supply Chain and its impact on Inventory Management
        • Supply Chain Tower & Improved end to end visibility
        • AI-driven Dashboards for real-time alerts
        • E-commerce and e-inventory management
        • Automation in inventory management
        • Big data to comb through key SCM triggers
    • 8:00am — 8:15am Day one review
    • 8:30am — 10:00am Economic Order Quantity and Purchase Quantity Discounts
      • Principles of Inventory management
      • Economic Order Quantity
      • Derivation of the EOQ
      • Ordering Costs versus Carrying Costs
      • Components of Inventory carrying / holding costs – capital, storage, obsolescence, handling (breakdown) and their impact
      • Estimating Inventory Carrying costs for various industries
    • Exercise: Deciding to take a Purchase Quantity Discount
    • 10:00am — 10:15am Coffee Break
    • 10:15am —12:30pm Inventory Optimization and Management- Safety Stock
      • Independent Demand Item Reordering
      • Safety Stock calculations
      • Determinants of Safety Stock – Service Level Agreement, Demand Volatility and Lead Time
      • Effect of Demand Uncertainty in Safety Stock – Different Scenarios
      • The perils of variability in Supplier lead time
      • Supplier Lead time Variance
      • Effect of Supplier Uncertainty on Safety Stock Calculations
    • Exercise: Service percent effect on Safety Stock
    • 12:30pm — 1:30pm Lunch Break
    • 1:30pm — 3:00pm Inventory Optimization and Management- Min Max Models
      • Re-order Point
      • Demand During Lead Time
      • Definition of MIN level in the Min-Max Model
      • Definition of MAX level in the Min-Max Models
      • Inventory Cycle and Cycle Time
      • Cycle Stock
      • Time phased Order Point (TPOP)
      • Lifetime buys and Minimum Buys
    • Case Exercise: on Safety Stock, Min-Max, and Re order Point.
    • 3:00pm — 3:15pm Coffee Break
    • 3:15pm — 4:00pm Work on the Case Exercise above.
    • 4:00pm — 5:00pm Work-site Inventory Management Techniques
      • Challenges and Benefits of improving & maintaining inventory Accuracy
      • Periodic review process vs. Perpetual Inventory
      • Cycle counting vs. physical Inventory
      • Kanban systems
      • Kanban Methodology
      • Determining Container Size and Quantity
      • Safety stock, Min-Max and DDLT in Kanbans.
    • Exercise: Kanban Calculation exercise

    Pricing

    An additional 10% discount applies to group registrations of three or more using one payment method.

    Please note that we reserve the right to deny admission/attendance based on competitiveness.

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