Managing the Inter-Play between Operations & Inventory Management

Program overview

The need for effective inventory management is most appreciated when materials that are critically required are reported as “not available” in the store. Monies lost to availability problem largely out-weigh cost of the item required. However, the management that must keep all items required in the inventory system must be ready to tie-down funds for a long period of time. So, there is an inter-play between operations and inventory management, which must be effectively managed for optimal results.

For whom:

Managers, Supervisors, Foremen & Team Leaders charged with the responsibility for effective inventory and operational systems

Learning objectives:

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

• explain the nature and characteristics of operations/inventory management;
• explain the financial implications of Inventory Management System;
• evaluate the inter-play between operations and inventory systems; and
• keep abreast of inventories for optimal operations.

Course outline:   

Day 1

• Principles & Concepts of Operational System
• Principles & Concepts of Inventory Management System
• Operational based Inventory System

Day 2

• Reliability Centered Inventory System
• Introduction to Reliability Centered Operations

Management System

• Key Deliverables of good Inventory System

Day 3

• Building the Right Team for the Management

Operations-Inventory Interplay

• Economics of Inventory
• Strategic Communication & Emotional Intelligence

Training Methodology

Lectures, discussions, exercises, case studies, audio-visual aids will be used to reinforce these teaching/learning methods.