Principles Of Inventory Management (PIM)

Inventory, if managed strategically, can work to establish and maintain a company’s competitive advantage. Whether you are a materials manager, buyer/purchaser, inventory planner, or simply need to understand inventory, this course introduces the fundamental concepts.

Learn to explain to colleagues how inventory objectives must be balanced with the needs of marketing, sales, and finance. Discover the decisions that effective inventory managers make. Gain knowledge about how inventory accuracy is maintained, and apply that knowledge to create an impact.

Learning Objectives:

Through training, participants will be introduced to global perspectives that help conceptualize broader supply chain requirements and yield a more detailed understanding of inventory management.

They will learn the following concepts and skills, that can be applied immediately in their own inventory activities:

• Recognizing the requirements for supply chain functional areas
• Analyzing tools such as inventory grids, a bill of material, and other supply chain documents
• Conceptualizing inventory flows
• Understanding the basics of industry practices such as Sales and Operations Planning
• Integrating improvement activities throughout a supply chain