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Inventory Management & Forecasting
Client requirements will be accommodated whenever possible, presenting a half day overview, or a more detailed full day session, depending on level of study / emphasis required. The Lead-Time Gap (P:D Ratio) Static Safety Stocks including service levels Dynamic Safety Stocks (Days/weeks of Supply) Min-Max levels Re-order Points EOQ (Economic Order Quantity) and Total Inventory Cost De-coupling points and buffers in Just-In-Time Supply Chains Inventory Holding Costs (inc how they can affect margin) True cost of Inventory, True cost of variety Demand Amplification (Forrester / Bullwhip effect) Multi-location stock holding (inc Uneven Demand at Plant Level) Consignment Stocking VMI (Vendor Managed Inventory) and CMI (Co-Managed Inventory) Discussion :- Obsolescence ABC classification Total Lead time vs Actual / Quoted Lead Time Replenishment systems (Kanban etc) Backflushing Demand patterns, seasonality and volatility Discussion :- Methods of forecasting (statistical demand smoothing etc) Moving Averages - simple and weighted Producing basic forecasts within Excel Forecast Error (including examples of extreme deviations from anticipated demand
How computerised systems (ERP etc) deal with forecasts Constraining the Forecast - Pyramid (Roll-up / Force down ) Discussion :- Consequences of poor forecasts Quiz to test understanding |
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