Real World, LLC

Workshop Outline

Work Place Essentials Series

Inventory Management
   
Overview

 

 Most companies carry too much inventory. “You can’t sell from an empty wagon” is usually the reasoning. Being over-stocked means the company will likely not run out of anything. But what about the inventory that has celebrated a few birthdays in the warehouse? Has anyone stopped to calculate the true cost of worrying about “running out?” The costs of maintaining excessive inventory usually far outweigh the true cost of not being able to quickly deliver a particular item to a customer once in a very long while. A balance must be struck between inventory levels and turnover. Good inventory managers know what stock moves at what rate. They carefully plan re-order levels to ensure that the chances of running out are minimized while the turnover rate is maximized.
Duration
  • 1 day
At the conclusion of this workshop, you should be able to do the following

  • Internal Customers & External Customers

  • The receiving process

  • The outbound process

  • Setting business and inventory management objectives

  • Inventory validation techniques
What This Workshop Covers:

  • The concept

  • Assessing the quality and

  • Competency of staff

  • Manual vs. automated systems

  • Developing a strategy for improvement

  • Achieving and maintaining inventory accuracy

  • Stock location management

  • Action plans for developing an effective team

  • Shipping and receiving operations

  • Developing your inventory management strategy