Inventory Optimisation Minor

What can you expect?

This intensive programme covers all major aspects of inventory management. You will learn the importance of holding the optimal inventory level levels as well as how to control inventory from a strategic, tactical & operational perspective. After completing each training day, your knowledge will be taken to the next level.

You will learn how to analyse supply chain data to attain actionable insights you can use to develop effective supply chain strategies. Furthermore, you will learn how to identify opportunities to further improve performance and cut costs.

During this course, you will develop an inventory strategy that you can implement within your organisation. After completing the Minor, you will be able to convincingly present your plan to your management team.

Learning goals

The fundamentals of inventory

Understand the importance of tactical inventory management

Managing inventory throughout the supply chain

Develop and implement a tactical inventory plan based on yout strategic objective

Optimising your supply chain

Utilise advanced analysis and forecasting to realise your goals

Programme details

The training spans 10 days, spread over 12 months. You will; cover the following topics:

Day 1-3: Basic Skills

Ordering methods
Concept of safety stock
Identifying demand patterns
Seasonal influences & trends
Determining the EOQ per item & per shipment
Product phase in & out
Discounts and promotions

Day 4: The role of inventory in the business

Inventory stakeholders
Working with the wider business

Day 5: Determine objectives and plans

Positioning the supply chain team
Determining and defending budget

Day 6: Assortment management and supplier analysis

Optimising cash flow
Identify the risks

Day 7: KPI’s

What do you control?
How are you measured?

Day 8: Building your business case

Introduction
Analysis
SWOT
Establish 3 & 12 month goals

Day 9: Optimisation

Securing processes
Identifying & evading obstacles

Day 10: Building the right environment

What features do I need?
What else is available?
What are the possibilities?
Attaining ‘Buy-in’ from IT

Level

The Inventory Optimisation Minor is designed for supply chain professions with a Bachelors degree (HBO) certification or relevant experience within a tactical supply chain role.