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Smart Inventory Solutions Workshop |
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An Introduction to the Inventory Process Optimization |
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Read about the book Smart Inventory Solutions
5 Myths of Inventory Reduction e-book
Inventory Process Optimization™ Module 1
5 Myths of Inventory Reduction
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High levels of inventory are a symptom of broader issues with the way inventory is controlled, supplied, accessed, purchased and managed. Addressing high levels of inventory through traditional 'optimization' alone does not resolve these greater issues.
True optimization and a lasting result requires a complete solution and an understanding of the context and process factors that influence your inventory. We call this Inventory Process Optimization™.
Inventory Process Optimization™ does not use just one technique for reviewing your inventory it addresses all of the issues and has a clever way of targeting which solutions you should apply to which parts of your inventory.
RECOMMENDED FOR Practitioners responsible for indirect inventory, that is, “bought in” inventory such as parts and components, finished goods, service parts, OEM spares, MRO inventory, engineering spares and industrial supplies. People who have benefited from this workshop include Inventory Controllers and Managers, Operations and Logistics Managers, Purchasing Professionals, Commercial and Financial Managers.
OBJECTIVES In this workshop Phillip Slater shows you the Inventory Cash Release™ Process, a simple, step-by-step methodology that enables you to optimize the factors that influence your inventory levels and significantly reduce your inventory investment without compromising your risks or availability. As a result you can achieve Inventory Process Optimization™.
OUTCOMES Understand why data driven approaches sub optimize your inventory results Learn about the processes that really influence your inventory outcomes Learn a specific and proven approach to undertake a targeted review of your inventory Learn about the actions and strategies you can use to address specific inventory issues
CONTENT The factors that have greatest impact on your inventory Why inventory reduction efforts fail The 3 reports that you need to understand The 5 Myths of inventory reduction The 7 Actions you can take to safely reduce your inventory What is Inventory Process Optimization and how you can use it to achieve your goals The Inventory Cash Release™ Process The best way to use the Pareto Principle Why companies hold more inventory than they really need Common issues in inventory management
WORKSHOP FORMAT This is a highly interactive workshop and participant numbers are limited to ensure significant interaction. Attendees will benefit by working side by side with others to review their issues and identify solutions.
Delegates who attended Phillip’s programs in 2007 were, without exception, very satisfied. Comments included.
Very good course. Very appropriate to my needs. Excellent Great day, great teacher. It covered my expectations and more. I don’t think this workshop can be improved This program made me very passionate about what I can do with the knowledge I've learnt in this course. Content was simple and action oriented. Real world nature of the workshop.
This workshop showed me a new way for analyzing inventory and how to target opportunities for reduction. The simple and sound methodology also makes it easy to build a business case for management buy-in. Jacinta Mackintosh Trico Products Melbourne
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Return to workshops page for dates and locations
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Initiate Action Pty Ltd 49 Vida Street, Aberfeldie Vic 3040 Australia phone: +61 3 9331 3181 fax: +61 3 9331 3180 USA and Canada Free Call800-581-7678
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