Drive Real Results Through Expert Inventory Control
Learn proven strategies to cut waste, eliminate inventory discrepancy,
and free up millions in cash flow — in just 8 hours.
09:00 – 10:30
Inventory Management Problems in Today’s Market
– Challenges faced in current Supply Chain – overstocking, stockouts, inaccurate stock, shorter product life-cycles, etc
– Balancing service levels, lead times, sales, risks, and costs
– Linking inventory planning and management with company’s strategy
– Understand What is Information Distortion & Its Impact to Inventory Planning
– Activity: Planning exercise with Bullwhip effect
10:30 – 13:00
Optimizing Your Inventory — Smartly, Efficiently, Cost-Effectively
– Better managing your inventory through ABC inventory management
– Different inventory analysis to optimize cash holding, space usage in warehouse, sales, etc.
– Planning for uncertainty by determining the best quantity to replenish periodic demand (safety stock),
frequency of replenishment (Order Point) and Min/Max
– Activity: Develop an ABC analysis for sample SKUs
– Case study: Company struggling with excess inventory and how they resolve it
09:00 – 10:30
Practicing a better stock count or cycle count method to improve inventory accuracy
– Types of inventory count method
– Troubleshooting the inventory discrepancy & checklist
– Set cycle counting to ensure consistent stock accuracy
– Case study: Utilizing Modern Technology to Speed Up the Count and Improve the Accuracy
– Activity: Create an effective cycle counting system with ABC analysis
10:30 – 12:00
Measuring inventory management performance for improvements
– Evaluating the efficiency of inventory management using the concepts of inventory turnover and the number of day’s inventory is held
– Combining inventory turnover with other measurements such as customer service level and return on investment (ROI) to provide
an accurate barometer of your success
– Create inventory management performance dashboard
– Activity: Create your Inventory Performance Dashboard
12:00 – 13:00
Improving Your Inventory Management
– Understand what is Lean inventory optimization
– Identifying the gaps to a better optimized supply chain operations
– Maximizing value added activities by eliminating wastes
– Inventory automation tools: barcode, RFID, pick-to-light, voice-pick
– Case Study of a company that focus on using Lean CI methodology to reduce their current inventory holdings and free up cash in weeks
– Activity: Develop your inventory improvement plan
- Lean Six Sigma Master Black Belt
- Certified Professional Executive Coach Manager
- MBA — Winona State University, MN, USA
- B.Econ (Hons) — UUM, Malaysia
- Warehouse Optimization: Redesigned warehouse layouts to increase storage capacity by 77% and improved picking efficiency by 20% within a single week.
- Inventory Optimization: Implemented statistical inventory modeling, nearly tripling inventory turns and generating US$15 million in savings within a year.
- Technology Integration: Streamlined receiving operations by implementing vendor-side barcode systems and digital stock take.
- Lead time reduction: Increase manufacturing capacity within 2 days by cutting down 97% of the changeover time.
- Machine downtime improvement: Reduce bottleneck machine downtime by 69%.
- Cycle time reduction: Cut down the manufacturing cycle time from 3 days to 36 hours and inventory (WIP) holding reduction by 76%.
- Develop MES software to plan and track production orders.
