News & Activities

Seminar: Inventory Management and Warehousing

May 17, 2013
8:30am — 3:30pm
Niagara University

The second largest cost element in supply chain logistics is inventory management. Managing inventories effectively is often overlooked in business because inventory carrying costs such as obsolescence, storage, and the opportunity cost of money are indirect costs. Furthermore, the ambiguity about who is responsible for inventory often frustrates good inventory management.

This short course is designed to ensure that participants understand the cost impact of inventory management in the supply chain and provide an understanding of basic tools to better control inventory costs.

  • Understanding inventory’s role and costs in SCM.
  • Key inventory measures: turnover rate, cycle times, fill-rate, carrying cost, etc.
  • Managing the three basic questions of inventory management: When to order, how much to order, how much safety stock to hold?
  • Alternatives to Forecasting
  • Practical steps to improving inventory management.

Warehousing & Material Handling Warehousing is an old function, sometimes regarded as a necessary evil but still a significant cost and strategic opportunity for most companies.

This one day course will explore the following topics:

  • Warehousing types: factory connected, free-standing, regional, national, inbound, outbound, JIT, customer specific, seasonal
  • Is outsourcing the way to go and if it is what are the control and operational issues of 3PLs? • Performance and cost measurements
  • Evolving role of warehouses in product and order and customization programs
  • Material handling choices - pros & cons of each
  • Storage options & racking varieties to support each
  • How packaging decisions impact warehousing costs
  • Relationship of transportation management to warehouse costs and service
  • RFID: Where are we headed? This program is designed for those working in logistics, operations, manufacturing, inventory control and supply chain management functions wanting to get a full perspective on warehousing issues and opportunities.