Effective Purchasing, Inventory & Store Management

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 Effective-Purchasing-Inventory-and-Store-Management-HRDF-Trainings

Introduction

Organization’s materials cost constitutes the major cost for the production of their products. Materials cost consist of ordering cost, receiving cost, holding cost, reject cost and purchase cost. We need to balance or optimize this cost. This course is solely focus on materials management.

How Will You Benefit

At the end of the training program, participants will be able to:

  • Understand the roles of a Purchaser, how to initiate a purchase and factors to consider
  • Vendor selection criteria
  • To develop ordering parameters / inventory control techniques
  • JIT and Kanban implementation
  • To understand 80/20 principles in life, manufacturing and Store.
  • To conduct ABC Inventory Classification
  • To calculate Average Inventory Estimation
  • To calculate Statistical Safety Stock.
  • To Compute Economic Ordering Quantity (EOQ)
  • To Calculate Total Planned Average Inventory
  • To improve Inventory Turns.
  • To conduct Cycle Counting and improve Inventory Accuracy.
  • To analyze Demand Variation and Lead Time Impact on Inventories.
  • To initiate Supplier Stocking Programs
  • To drive for Consignment Systems programs
  • To generate Materials Aging Report and Dispositions.
  • To drive for Short Span and Lead Time.
  • Types of Forecasting – 3pt Moving Average and 3pt weighted moving average.

Who Should Attend

  • Factory Manager / Production Manager / Executive / Supervisor
  • Materials Manager/Executive/Officer
  • Warehouse/Store Manager / Executive/ Supervisor
  • Production & Materials Planner / Manager
  • Purchasing Manager, Executive, Buyer

Methodology

Lecture, Workshop Activities, Discussion & Calculations.

Note: Software application tools will be given away free. Participants are encouraged to bring thumb drive or pen drive to copy the tools for application

Module

  • EVALUATE ANY PURCHASES USING THE APPROPRIATE
    MATHEMATICAL FORMULAS
  • REALIZE THE IMPORTANCE OF PRICE-COST INFORMATION
    SOURCES AND REFERENCES
  • IDENTIFY THE “BEST BUY” FOR A GIVEN PURCHASE THROUGH PRICE AND COST INVESTIGATION
  • NEGOTIATE TOTAL COST OF OWNERSHIP MORE EFFECTIVELY WITH SUPPLIER AND CONTRACTORS
  • USE FORECASTING AND SPEND ANALYSIS TECHNIQUES TO BETTER UNDERSTAND FUTURE MARKET CONDITIONS
  • IMPROVE INVENTORY MANAGEMENT USING ECONOMIC ORDER AND PURCHASE QUANTITY TECHNIQUES
  • SHOW A MEASURABLE CONTRIBUTION TO THE BOTTOM LINE DUE TO MORE EFFECTIVE PURCHASING DECISION AND A DEEPER UNDERSTANDING OF THE ECONOMICS OF THE MARKETPLACE
  • IMPROVE THE RETURN ON INVESTMENT FROM EVERY PURCHASING DOLLAR AND YOUR TOTAL SPEND
  • GAIN A WORKING KNOWLEDGE OF THE METHODS, TECHNIQUES, AND FORMULAS FOR ANALYZING PURCHASING DECISIONS
  • A PRACTICAL, GOAL-ORIENTED TECHNIQUE FOR OBTAINING CONTROL OF WAREHOUSE OPERATIONS—THE ABC ANALYSIS. ASSIGNMENT OF TASKS— HOW TO DECIDE WHAT TO ASSIGN TO WHOM AND WHEN. SPECIFIC WAYS TO EVALUATE YOUR OWN PRODUCTIVITY
  • METHODOLOGIES FOR LAYOUT PLANNING, REDUCE TRAVEL TIME AND DISTANCE WITH THE PROPER USE OF SPACE TO SMOOTH THE FLOW, LAYOUT PHILOSOPHIES AND CAPACITY FACTOR GUIDELINES. DETERMINE SPACE-BUILDING REQUIREMENTS. PINPOINT APPROACHES FOR LAYOUT AND SPACE RESOURCES
  • VARIOUS TECHNIQUES FOR STORAGE LOCATION, USE OF LOCATOR SYSTEM CONTROLS, ABC ANALYSIS, HOW TO IMPROVE INVENTORY CONTROL, ESTABLISH MATERIAL LOCATION AND INVENTORY CONTROL GUIDELINES EVALUATE PHYSICAL INVENTORY AND CYCLE COUNTING PROGRAMS
  • VMI AND VCI, KANBAN AND JIT PROGRAMS IMPLEMENTATIONS FOR INVENTORY REDUCTIONS

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Duration: 2 Days


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 Effective-Purchasing-Inventory-and-Store-Management-HRDF-Trainings

Introduction

Organization’s materials cost constitutes the major cost for the production of their products. Materials cost consist of ordering cost, receiving cost, holding cost, reject cost and purchase cost. We need to balance or optimize this cost. This course is solely focus on materials management.

How Will You Benefit

At the end of the training program, participants will be able to:

  • Understand the roles of a Purchaser, how to initiate a purchase and factors to consider
  • Vendor selection criteria
  • To develop ordering parameters / inventory control techniques
  • JIT and Kanban implementation
  • To understand 80/20 principles in life, manufacturing and Store.
  • To conduct ABC Inventory Classification
  • To calculate Average Inventory Estimation
  • To calculate Statistical Safety Stock.
  • To Compute Economic Ordering Quantity (EOQ)
  • To Calculate Total Planned Average Inventory
  • To improve Inventory Turns.
  • To conduct Cycle Counting and improve Inventory Accuracy.
  • To analyze Demand Variation and Lead Time Impact on Inventories.
  • To initiate Supplier Stocking Programs
  • To drive for Consignment Systems programs
  • To generate Materials Aging Report and Dispositions.
  • To drive for Short Span and Lead Time.
  • Types of Forecasting – 3pt Moving Average and 3pt weighted moving average.

Who Should Attend

  • Factory Manager / Production Manager / Executive / Supervisor
  • Materials Manager/Executive/Officer
  • Warehouse/Store Manager / Executive/ Supervisor
  • Production & Materials Planner / Manager
  • Purchasing Manager, Executive, Buyer

Methodology

Lecture, Workshop Activities, Discussion & Calculations.

Note: Software application tools will be given away free. Participants are encouraged to bring thumb drive or pen drive to copy the tools for application

Module

  • EVALUATE ANY PURCHASES USING THE APPROPRIATE
    MATHEMATICAL FORMULAS
  • REALIZE THE IMPORTANCE OF PRICE-COST INFORMATION
    SOURCES AND REFERENCES
  • IDENTIFY THE “BEST BUY” FOR A GIVEN PURCHASE THROUGH PRICE AND COST INVESTIGATION
  • NEGOTIATE TOTAL COST OF OWNERSHIP MORE EFFECTIVELY WITH SUPPLIER AND CONTRACTORS
  • USE FORECASTING AND SPEND ANALYSIS TECHNIQUES TO BETTER UNDERSTAND FUTURE MARKET CONDITIONS
  • IMPROVE INVENTORY MANAGEMENT USING ECONOMIC ORDER AND PURCHASE QUANTITY TECHNIQUES
  • SHOW A MEASURABLE CONTRIBUTION TO THE BOTTOM LINE DUE TO MORE EFFECTIVE PURCHASING DECISION AND A DEEPER UNDERSTANDING OF THE ECONOMICS OF THE MARKETPLACE
  • IMPROVE THE RETURN ON INVESTMENT FROM EVERY PURCHASING DOLLAR AND YOUR TOTAL SPEND
  • GAIN A WORKING KNOWLEDGE OF THE METHODS, TECHNIQUES, AND FORMULAS FOR ANALYZING PURCHASING DECISIONS
  • A PRACTICAL, GOAL-ORIENTED TECHNIQUE FOR OBTAINING CONTROL OF WAREHOUSE OPERATIONS—THE ABC ANALYSIS. ASSIGNMENT OF TASKS— HOW TO DECIDE WHAT TO ASSIGN TO WHOM AND WHEN. SPECIFIC WAYS TO EVALUATE YOUR OWN PRODUCTIVITY
  • METHODOLOGIES FOR LAYOUT PLANNING, REDUCE TRAVEL TIME AND DISTANCE WITH THE PROPER USE OF SPACE TO SMOOTH THE FLOW, LAYOUT PHILOSOPHIES AND CAPACITY FACTOR GUIDELINES. DETERMINE SPACE-BUILDING REQUIREMENTS. PINPOINT APPROACHES FOR LAYOUT AND SPACE RESOURCES
  • VARIOUS TECHNIQUES FOR STORAGE LOCATION, USE OF LOCATOR SYSTEM CONTROLS, ABC ANALYSIS, HOW TO IMPROVE INVENTORY CONTROL, ESTABLISH MATERIAL LOCATION AND INVENTORY CONTROL GUIDELINES EVALUATE PHYSICAL INVENTORY AND CYCLE COUNTING PROGRAMS
  • VMI AND VCI, KANBAN AND JIT PROGRAMS IMPLEMENTATIONS FOR INVENTORY REDUCTIONS

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