Optimized Materials Management

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OPTIMIZED MATERIALS MANAGEMENT

Best Practices for Acquisition, Storage, and Use of Inventoried Items.

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Module 1

Key Objectives of Inventory Management:

  • Organizing, Controlling and Optimizing the Utilization of Materials
  • Key Functions of Inventories
  • Primary Objectives of Inventory Management
  • The Responsibilities of Supply Chain Management

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Module 2

Responsibility for Inventories:

  • The Customer Connection
  • Importance of Accurate Forecasting in Inventory Management
  • Ownership & Obsolescence
  • Timing of Obsolescence
  • Generating Value from Surplus Inventories through SRM Process
  • Lifetime Costs of Ownership
  • Risk & Insurance Factors

Costs Associated with Inventories:

  • Formal vs. Informal Inventories
  • Financial Costs (Cost-of-Funds, Desired ROI, Opportunity Costs, Holding Expenses, etc)
  • Spoilage & Obsolescence

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Module 3

Evaluation, Identification and Control of Inventories:

  • Principles of ABC Analysis & Classification
  • Methods for Analyzing Production Inventories
  • Methods for Analyzing MRO Inventories
  • Determining Economic Ordering Quantities (EOQ)
  • Establishing Minimum/Maximum (Min/Max) Levels
  • Calculating Inventory Turnover Rates
  • Cyclical vs. Fixed Order Point Inventory Control Systems

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Module 4

Levels of Distribution in Various Marketplaces:

  • Manufacturer Direct
  • Wholesaler
  • Distributor

Finding the Optimal Balance; Inventory vs. Stockless:

  • Just-In-Time (JIT)
  • JIT II
  • Supplier/Vendor Managed Inventories (SMI/VMI)
  • Consignment Inventory Strategies
  • Kan-Ban Techniques
  • “Kitting” and “Assembly” Strategies

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Module 5

Technology Factors in Inventory Management:

  • Characteristics and Applications
  • How to Improve Inventory Record Accuracy

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Module 6

Optimizing Warehouse & Logistical Performance:

  • Defining Stock Keeping Units (SKU)
  • Proper Units of Measure
  • Palletizing and Packaging Concepts
  • Physical Control of Materials
  • Racking Design & Layout
  • Increased Cube Utilization
  • Pic-Pac Principles
  • Pull Listing Formats
  • Cross-Docking Options
  • Freight Management
  • International Logistics

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Learn With Mark Trowbridge, CPSM, C.P.M., MCIPS

[/vc_column_text][/vc_column][/vc_row][vc_row full_width=”stretch_row_content_no_spaces” content_placement=”top” equal_height=”yes” css=”.vc_custom_1524827874889{padding-top: 0px !important;padding-bottom: 0px !important;background-color: #f4f9fa !important;}”][vc_column width=”1/4″ offset=”vc_col-lg-3″ css=”.vc_custom_1470300323626{padding-bottom: 0px !important;}”][vc_single_image image=”5067″ img_size=”full” alignment=”center” css=”.vc_custom_1524828611092{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;}”][/vc_column][vc_column width=”3/4″][vc_column_text css=”.vc_custom_1524915510278{padding-top: 30px !important;padding-right: 30px !important;padding-bottom: 30px !important;padding-left: 30px !important;}”]His 30 years in procurement includes supply management leadership positions in the Services, Financial, & Manufacturing sectors, eventually as Director of Strategic Sourcing & Contracting Management for Bank of America, a global financial services company, where he achieved $250 Million in savings through sourcing and key negotiations of traditional and non-traditional acquisitions. For the last 13 years, Mark has also experienced great success in procurement consulting, exceeding targeted savings objectives on large sourcing projects in the Oil/Gas, Mining, Telecommunications, Governmental, Technology, Health Care, Banking, Manufacturing & Insurance sectors. During his decade-long consulting tenure, Mr. Trowbridge has assisted clients in capturing hundreds of millions in cost reductions. He is one of the original founders of Strategic Procurement Solutions, LLC. Mr. Trowbridge holds a Bachelor’s Degree in Business Administration from Pepperdine University. He earned his Certified Purchasing Manager (C.P.M.) designation from the Institute for Supply Management (I.S.M.) in 1993, and Lifetime Certification in 2003. He also is a Certified Professional in Supply Management (CPSM). His MCIPS certification was granted by CIPS in 2011. Mark is currently an active member of the I.S.M., CIPS, and the National Contract Management Association. He is an invited guest speaker for supply management groups, including numerous seminars for global clients and professional associations. He has been a featured speaker at the last ten I.S.M. international conferences. His LinkedIn profile is among the 1% most-viewed out of that organization’s 250 Million members. Mr. Trowbridge has written featured articles for Supply Chain Management Review, eSide Supply Management, Inside Supply Management and Strategic Procurement Solutions own online Best Practices in Supply Management Journal (the latter of which is distributed bi-monthly to more than 13,000 global procurement professionals).[/vc_column_text][/vc_column][/vc_row][vc_row full_width=”stretch_row” full_height=”onequarter_row_height” parallax=”yes” overlay_color=”rgba(15,56,64,0.8)” css=”.vc_custom_1524915141007{padding-top: 60px !important;padding-bottom: 60px !important;background-image: url(https://procureskills.com/wp-content/uploads/2018/04/ssc-min.jpg?id=4972) !important;}” font_color=”#ffffff”][vc_column][vc_column_text]

Fees: US$ 495/- Per Participant

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CONTACT US FOR DISCOUNTS

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