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DAY ONE
Opening Session:
Inventory Optimization in the Modern World
The world of inventory control has come a long way since the days before bar-code standardization. In today’s business world, convenient software packages and automated identification are just two examples of how the process has been streamlined. But having sophisticated systems in place does not necessarily improve your bottom line. Now you have to figure out how you use the information that your system provides.
Session 1A:
Maintaining More Accurate Inventory Records
If your records are inaccurate, you could get stuck with too much or too little product on hand. You’ll learn how shelf counts and record counts can account for such inaccuracies … the importance of tolerances and variances … and how to identify areas of improvement needed in your current system.
Session 1B:
Accurate Cycle Counts
This session will show you what a cycle count is, why you need to use it, and what specific methodologies will best help you save time while maintaining an accurate inventory recordkeeping system year-round.
Session 1C:
Why Dead Stock Has to Go
You’ll get practical, real-world insights from an inventory pro who will share solid solutions for your dead stock issues. You’ll discover what your dead stock is, why it has to go, and the best methods for disposing of it.
Session 1D:
Inventory Material Handling
This session will teach you everything you need to know about the most effective types of inventory locator systems, the different item placement theories and which one is best for you, and how to move product efficiently by cross-docking.
Session 1E:
Inventory and People
Whether you often deal with angry customers and concerned clients or have an ever-revolving work force, or all of the above, we’ll show you the skills unique to the inventory control environment that will help you better manage the “people portion” of the industry.
Session 2A:
Modern Inventory Management Processes
Maintaining the lowest possible level of inventory, while ensuring your materials are available for production or delivery, takes a great deal of planning. In this session, you’ll learn the different types of planning practices and which one is right for you.
Session 2B:
Forecasting More Accurately
You need to make accurate forecasts for the future demand of every product in your inventory. We’ll teach you to identify factors that can cause forecasting mistakes, how to better collect the information you need, and how to make the right decisions accordingly.
Session 2C:
Product Specifications & Automated Identification
In this session, we’ll explore the types of product specifications used and what descriptors to include in your specifications. We’ll also look at basic bar coding and RFID as options for improving the efficiency of inventory tracking and management through automated product identification.
Session 2D:
Purchasing and Supply Management
Selecting the right suppliers and managing effective relationships with them are keys to getting what you want, when you want it. In this session, you’ll learn how to measure your vendor’s performance and make cost-effective decisions by negotiating smart contracts.
Session 2E:
Other Purchasing Issues
In addition to managing external relationships, you also need to stay on top of your internal divisions that aren’t getting paperwork or data input done in a timely manner, sales reps who try to “go around” you, or any number of other in-house operational problems that can plague the purchasing process … we’ll show you how!
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