Effective Inventory Management

Starting Date
11/06/2022
Location
Live Online
Tuition
3.200.000 VND
Discounted Fee
2.800.000 VND
Schedule
Saturday-Sunday
Time
8h30 - 11h30 & 13h30 - 16h30

Special rates are offered when payment is received at least seven (7) days before the course starting date.

Program's message

Inventories are one of the most expensive assets for many companies and can account for up to 50% of their investment. Global operations managers have long recognized that good inventory management is essential.

The company can cut costs by reducing inventory, but when the necessary items are not in stock, it can lead to production delay, delayed delivery. As a result, customers’ satisfaction would decrease. Therefore, the company must always balance its investment in inventory and customer service. This shows that the management of inventory to be most effective is no longer an ordinary job, but requires an inventory manager to have good, specialized skills, a strategic calculation method, and an effective management art.

Understanding these difficulties of businesses, PACE School of Production Management (a member of PACE Institute of Management) has designed the program "Effective Inventory Management" to help management leaders do a good job of managing the inventory at all steps where the flow of raw materials reaches the finished product to:

  • Avoid waste;
  • Avoid losses;
  • Avoid shortages;
  • Reduce inventory;
  • Timely response to production.

Program's information

After successfully completing this program, participants will be able to:

  • Understand the concept of inventory;
  • Understand the role of inventory management;
  • Know how to practice minimum inventory;
  • Know how to design and operate an efficient warehouse;
  • Know how to effectively manage and control inventory on production line.

Program's content

1. Inventory introduction;

2. Types of inventory and purpose;

3. Calculate warehouse costs and related costs;

4. Inventory valuation;

5. Inventory planning;

6. Inventory classification;

7. Overall inventory policy;

8. Overall inventory management;

9. Calculate inventory turnover;

10. Calculate the number of days to use the warehouse;

11. Cost of inventory;

12. Financial and inventory statements;

13. Ingredient inventory;

14. Calculate the time of order;

15. Calculate the order quantity;

16. Component inventory policy;

17. Independent demand ordering system;

18. Kanban, 2-bin system, continuous monitoring;

19. ABC inventory classification method;

20. Inventory control method;

21. Inventory method.

Opening courses

HCMC
Effective Inventory Management
Starting Date: 09/07/2022 (in HCMC)
HCMC
Effective Inventory Management
Starting Date: 18/07/2022 (in HCMC)
HCMC
Effective Inventory Management
Starting Date: 20/08/2022 (in HCMC)

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