5. Inventory Management.  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.