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.

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.

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.

In-house workshops

In addition to the public training programs, PACE also offers in-house workshops which are tailored to the specific needs of each organization. Whether the goal is to prepare for a major change initiative or to build individual or organizational competency in a particular area...

Management consulting

PACE Consulting is one of PACE’s member companies. The consulting services include:

Consulting solution on Reinventing Corporate
Consulting solution on Corporate Culture
Consulting solution on Management System
Consulting solution on Excellent Factory
Consulting solution on KPI System
Consulting solution on Human Resources
Consulting solution on Capacity Frame
Consulting solution on Training Strategy
Consulting solution on Learning Culture

Business Knowledge Bookshelf

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In-house workshops

Management consulting

Business Knowledge Bookshelf