Objectives

  • Learn practical solutions to key inventory management issues
  • Learn how to ascertain actual business impact of inventory management issues and not just operational impact
  • Learn how to generate solutions keeping the holistic business and operational impact in mind
  • A practical exercise based course rather than theory / lecture based so that participants are ready to implement solutions from the moment they return back to their work

Course Outline

Quick overview of some “fundamentals”

  • What should / should not be in inventory
  • What is inventory management
  • Understocking – Business Impact
  • Overstocking – Business Impact
  • Warehouse Operation Cycle

Understocking – Practical Solutions

  • Re Order Points calculation – simplified
  • Choose your battles – item classifications
  • Requisition to Receipt cycle time
  • Follow up mechanisms
  • Alternate sourcing strategies

Group Activity – understocking solutions: Participants will put theory into practice in a group setting where they will calculate Re Order Points, develop item classifications and break down the Requisition to Receipt cycle time

5S principles and warehouse operations – a pictorial

  • Sort
  • Straighten
  • Shine
  • Standardize
  • Sustain

Assessment of inventory management

  • Benchmarks
  • Key Performance Indicators

Key Stakeholders and their expectations

  • End User
  • Inventory Managers
  • Procurement Managers
  • Executive Management / Business Leaders

Overstocking – Practical Solutions

  • Trend Analysis
  • Exchange rate
  • Inflation
  • Volume vs. Value
  • Historical trend
  • Capital Spares classification
  • Definition
  • Impact on bottom line
  • Impact on operations

Overstocking – Practical Solutions (continued)

  • Magic of ROP = 0
  • Housekeeping of maintenance work orders
  • To sell or not to sell – obsolete vs. overstocked / slow moving

Group Activity – overstocking solutions: A case study based activity where participants will see the theory put into practice in a real life scenario and the resultant consequences of the solutions implemented

Abu Dhabi National Exhibition Centre

Abu Dhabi National Exhibition Centre

Since last two years My Company is working with Simfotix, and every time it is great learning experience. MS Excel is one of the most recommended Program with distinctive methodology and valuable deliverables.

Etisalat

Etisalat

A very good training by Simfotix on HRBP with their International Partner Human Capital Institute. We covered high level including strategy.

Dubai Islamic Bank

Dubai Islamic Bank

Great training course and materials. Super helpful to learn shortcuts and their best application. Thank you!

Imdaad Group

Imdaad Group

The in-house training met the desired objectives for improvement in the Finance function. Group work throughout the two days and team presentation on various analytics put thing in the focus learning direction. Good output Simfotix.

Finance House Abu Dhabi

Finance House Abu Dhabi

Inhouse Training with Simfotix Training for Credit Transformation Program goes with a Wonderful learning experience of our Credit Risk Team. Looking forward to engage them in other upcoming training.

Abu Dhabi Terminals

Abu Dhabi Terminals

A combination of learning and sharing through activities and self presentations. Learning Art of Public Speaking with Simfotix Training is truly a good experience.

Arab Bank, UAE

Arab Bank, UAE

The session was engaging and informative. Overall program outcome is what we agreed and delivered to department.

Emirates Islamic Bank

Emirates Islamic Bank

Simfotix In-House training is well organized and our team learned lot of new things. We consider this as a value addition and meeting our objectives.

Ministry of Human Resources & Emiratization

Ministry of Human Resources & Emiratization

A very good training we attended with Simfotix Training.

Al Ghurair Group

Al Ghurair Group

Easy way of transferring knowledge makes the learning more digestible. Great work Simfotix for the in-house session of Advance Excel.

MAF Carrefour International

MAF Carrefour International

Thank you Simfotix for a comprehensive and value training to our Saudi Arabia Finance Team. Case Study and exercises were the key element of this workshop. As Learning & Development we are satisfied to work with them in future.

DU Telecom

DU Telecom

Selecting Simfotix as sour training and learning development supplier is a wonderful experience. They have done various inhouse programs. Their trainers carry in-depth knowledge and expertise and kept the participants well engaged.

The Executive Council of Dubai

The Executive Council of Dubai

Simfotix Trainer bear a Persuasive approach in training and the company is professional in the arrangement of training till end to make it a memorable experience. The In-house session and the follow-up session is excellent approach.

Department of Economic Development, Dubai

Department of Economic Development, Dubai

Excellent Training conducted by Simfotix Professional Development. The whole day was full of fun and learning in Advance MS Excel.

Course Materials

It is very important to analyze the need for Training along with the level of knowledge you require. This session give you a liberty to choose the modules you need, discuss it with the trainer how you want to be delivered, decide the place at your convenience and allocate number of hours to solve your problem. This does not include any development as a consulting but will include solution if you are facing a particular problem.