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Upcoming APICS Webinars—Descriptions
APICS Webinar Series: Inventory Management Concepts—Beyond the Basics
Dates: April 15, 22, 29 and May 6, at 1:00 p.m. EDT (GMT -04:00, New York)
Presenter: Debra Hansford, CPIM, CIRM, CSCP, C.P.M., PreCrest, LLC
Site Price: $299 APICS member, $359 nonmember
Availability: Registration Closed
Description
Inventory management is a strategic, tactical and operational tool within supply chain and operations management to improve a company’s competitive advantage. The skill is understanding how to balance the cost and benefits of having the right amount of inventory to meet customer demand.
Strategically, most companies want to reduce inventory levels while increasing customer service. On a tactical level, philosophies such as Sales and Operations Planning (S&OP), Collaborative Planning Forecasting and Replenishment (CPFR) and Vendor Managed Inventory or Stockless Purchasing is being considered. Operationally planners need to have visibility or accurate inventory levels in comparison to demand to replenish inventory levels and need to determine is the best execution system still a materials requirements plan (MRP) or a pull system using KanBan.
This presentation will view inventory management from the three perspectives of strategic planning, tactical planning and operational planning and execution to determine alternatives that are most appropriate for specific environments.
Top Learning Objectives
- Discover how executives view inventory and how you may support their visions.
- List emerging technologies that may improve inventory management practices.
- Identify the importance of using cross functional teams to manage inventory.
- Distinguish supplier agreements that will help reduce inventory throughout the supply chain.
- Evaluate the role of the warehouse in comparison to the distribution center and discuss are both needed.
- Establish when it is best to use a push system vs a pull system to plan inventory levels.
- Verify that all items in inventory are not created equal and should be managed different.
- Compare inventory management goals and accomplishments with companies considered leaders or Best-In-Class vs companies considered Laggards.
- Demonstrate the overall goal of the Sales and Operations Plan and how it impacts inventory and customer service.
Case Studies
Topic: Inventory Management – Execution
Organization(s): Repetitive Manufacturing
Industry (should focus in P&IM): Repetitive Manufacturing
Challenges: A division of a large company was using a pull system to execute inventory movement throughout the facility. Discuss the pros and cons of using a pull system.
Description: The pull system may be a great method to execute inventory movement, however how is the inventory planned and recorded when used? What other methods, if any need to be in place for effective operations?
Topic: Inventory Management – Tactical – Sales and Operations Planning
Organization(s): Repetitive Manufacturing
Industry (should focus in P&IM): Repetitive Manufacturing
Challenges: Customers require a shorter lead time to receive goods than the manufacturing lead time in a competitive market with other alternatives. How may inventory best be managed without having excess stock to meet unexpected demand?
Description: Using a Sales and Operations Planning perspective, the bills of material were revised to incorporate an assemble to order vs a make to stock environment. When the sales team and operations team meet to discuss how to meet customer requirements and minimize inventory, innovative ideas were developed.
- Week 1 – Strategic and operational execution
- Week 2 – Operational execution and planning
- Week 3 – Tactical
- Week 4 – Putting it all together
Level: Intermediate with some advanced concepts
About the Presenter
Debra Hansford, CPIM, CIRM, CSCP, C.P.M., has more than 20 years of experience as a practitioner in the field of materials management and supply chain management. Her spectrum of employers ranges from Fortune 500 companies to small privately held entrepreneurial firms. Industry experience includes theme parks, manufacturing, remanufacturing, and most recently distribution.
Hansford has taught APICS CPIM, APICS CIRM, and most recently APICS CSCP certification review classes and has presented at the 2001, 2004, and 2005 APICS international conference. She is currently the vice president of education with the APICS Tri-State Chapter in Chattanooga and a member of the APICS CDC. She also teaches classes for the Institute of Supply Management.
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