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Principles of Inventory Management Oct 2018

This 16-hour course on Principles of Inventory Management will take place on October 6-7 from 9 AM to 5 PM in Amman, Jordan. It covers inventory management fundamentals, ordering techniques, replenishment policies, and performance measurement. The course is accredited by APICS and attendees can earn a certificate upon passing the exam. The instructor has over 14 years of supply chain experience and will discuss topics like the purpose of inventory, replenishment management techniques, and performance metrics. Early bird registration is 350 JOD before September 21.

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Ahmad Ali
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57 views

Principles of Inventory Management Oct 2018

This 16-hour course on Principles of Inventory Management will take place on October 6-7 from 9 AM to 5 PM in Amman, Jordan. It covers inventory management fundamentals, ordering techniques, replenishment policies, and performance measurement. The course is accredited by APICS and attendees can earn a certificate upon passing the exam. The instructor has over 14 years of supply chain experience and will discuss topics like the purpose of inventory, replenishment management techniques, and performance metrics. Early bird registration is 350 JOD before September 21.

Uploaded by

Ahmad Ali
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Course PIM - Principles Of Inventory Management

Introduction

Course Dates: 6th -7th October

Course Setup : 2 classes , 8 hours each, from 9:00 - 17:00

Course Duration: 16 Hours.

Course Timing: 9 AM : 5 PM

Course Price: 400 JOD (Early Bird Registration 350 JOD to be paid before 21-9-2018)

Location: VBC Khalda - Amman

Regestration : Please click HERE

Page 1
Accreditation

The Course Is Accredited By APICS, Upon Successful completion of exam requirements


attendees get APICS Certification of Completion .

Prerequisits

This is an entry level education , basic knowledge in Supply Chain is favoured


Targeted Audience

Anyone Who Works In Relation To Inventory Management or wishes to introduce his/her


self to inventory management
Course Summary

The Principles of Inventory Management provides a functional knowledge and


understanding of inventory management principles, roles and responsibilities, and
techniques . Provides participants with a greater understanding of their roles and
responsibilities in inventory control and its impact on business. Includes an introduction to
essential industry terminology and identifies the skills needed to apply basic inventory
management skills.

Topics include:
Inventory management fundamentals
Ordering techniques
Replenishment policies
Inventory performance measurement
Topics

Page 2
Session 1 Fundamentals of Inventory Management

Session 2 Purpose and Function of Inventory

Session 3 Inventory Replenishment Management

Session 4 Additional Inventory Replenishment Techniques and Inventory Performance

Session 1: Fundamentals of Inventory Management

Defining Inventory Management


Why Does Inventory Have to be Managed?
Inventory Management Objectives
What Does Inventory Management Do?
Classes of Inventory
Levels of inventory Management
Characteristics of Inventory in the Supply Chain
Strategic Inventory Management Process
Strategic Inventory Management Issues
Balancing Demand and Supply Objectives
Inventory – Conflicting Objectives
Inventory Trade-Off Decisions
Inventory Demand Flows
Supply Chain Inventory and Demand Flows
Inventory Dynamics
How Does Inventory Provide Value?
Inventory – Asset or Liability?
Return on Assets
Financial Impact of Inventory

Session 2: Purpose and Function of Inventory


Purpose of Inventory
Functions of Inventory
Purpose of Decoupling/Buffering Inventories
How Much Inventory Is Needed?
Components of Inventory Decisions
Defining Cycle Inventory
Defining Safety Inventory
Defining Seasonal Inventory
Inventory Cost , Unit Costs , Order Costs , Inventory Carrying Cost Components , Stockout
Cost , Capacity-Related Costs .
Inventory Valuation
Surplus/Obsolete Inventory
Transportation Cost
Measuring Inventory Performance

Page 3
Cost-Benefit Trade-Off

Session 3: Inventory Replenishment Management


Understanding the Demand Driver
Defining Inventory Replenishment Management
Components of Inventory Management.
Replenishment Review Interval .
Continuous Versus Periodic Review.
Inventory Replenishment Principles.
Replenishment Ordering Techniques , Visual Review Technique , Two Bin System
Technique ,
Periodic Review System Technique, Order Point Technique .
Calculating the Safety Stock .
Determining the Order Quantity .
Order and Inventory Carrying Cost Components
Determining the Economic Order Quantity .
Replenishment Planning Process .

Session 4: Additional Inventory Replenishment Techniques and Inventory


Performance
Additional Inventory Replenishment Techniques , Supplier Lead Time Uncertainty .
Time-Phased Order Point (TPOP) , Replenishment by Item Class .
Inventory Performance Measurement .
Financial Statements and Inventory .
Inventory Values, Turns, and Ratios .
Inventory Performance .
ABC Inventory Control .
Impact of Inventory Inaccuracy and Inventory Accuracy Tool Kit.
Three P’s of Inventory Control .
Transaction Management .
Periodic and Perpetual Inventory Review.
Year-End (Periodic) Physical Inventory .
Cycle Counting – Definition and Methods.....
Electronic Data Collection

Page 4
About Your Instructor

Hazem Al-Momani is a seasoned Supply Chain Professional with Bachelor and Master’s in
Industrial Engineering from Jordan University of Science and Technology.

Hazem is an APICS Certified Supply Chain Professional (CSCP). He currently manages


Supply Chain functions at Jordan Tractor and Equipment Company “Caterpillar “ .

With around fourteen years of experience in the Jordanian market, Hazem is very
enthusiastic to share his strong experience in Warehousing and Inventory Management,
Logistics Management, Procurement Management, Distribution and Transportation
Management, and Demand Management to mention few.
About The Exam

Upon Course Completion You Will Be Tested Against What You Learned, More Exam Details
Will Discused During Class
Course Level

Intermediate

Page 5

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