Calculations for Inventory Management
Allegedly there's only trouble with inventory– the management forces us to lower it, but when there are shortages, there's a problem. Sometimes it seems that “two are not enough and three are too many”. There are some formulas and kind of theory available, however, the practice looks different …or not? Is it really possible to calculate anything reasonable and functional as far as inventory is concerned? DEFINITELY YES!! Take your laptop (or as the case may be, a representative sample of your data) with you and let's learn to manage inventory with the help of a few easily calculated parameters. We will practice everything on our pre-prepared model cases and then we will deal with tasks that are topical for you.
This course (workshop) focuses on practical calculations. It is essential you take your laptop with you (exceptionally we provide ours) where you can run MS Excel.
Data about your stock is not necessary (we have a wide range of our own practical situations), but it is an advantage if you make use of it directly.
- selected articles coming into and going out during a selected period (quantitative)
- overview of purchased articles in a selected period (quantitative and in prices)
- overview of consumption or article sale in a selected period (quantitative and in prices)
All your data remains only on your IT equipment!
We are ready to consult the structure of the data with every participant in advance!
Who is the course for?
It is for purchase workers because of material supply, sales staff because of inventory management of ready products, for all who are in charge of goods inventory and for those who should introduce kanban or contrarily implement IT/IS tools. It is for everybody who wants to learn to calculate parameters for inventory management and model its course.
What we can teach / what you can learn
- to categorize inventory correctly
- to calculate costs for inventory management
- to test the economic viability of stock movement
- to calculate stock reserve
- to simulate the stock movement in the coming periods
- to use effective modes for restocking in model situations
- to manage inventory with regular consumption effectively
- to manage inventory with sporadic consumption satisfactorily
- to analyze model (or your) files with inventory data
- to calculate parameters for model (or your) inventory management
- to verify stability (sensitivity) of set up inventory management models
Who are the trainers?
The whole workshop will be led by a lecturer (Logistics Academy member), who has rich experience with a practical application of calculation models for inventory management.
Basic course information