Inventory Best Practices

Manufacturing companies depend on inventory to operate and satisfy customer requirements. Inventory is a major investment that helps a company with tasks such as resource planning and staying within budget. Keeping accurate inventory records is a major management initiative that has multiple benefits. 
The focus of this workshop is to provide an overview of current best practices in inventory management and, their impact on the organization’s supply chain.
Learning Objectives:  
  1. Identify the common challenges associated with inventory management.
  2. Increase your understanding about the purpose, function, and classes of inventory.
  3. Discuss the importance of inventory record accuracy and its impact on a company’s financial performance.
  4. Recognize the cost associated with maintaining inventory and how to balance the when and how much inventory to have on hand.
  5. Explore common systems and practices used in inventory storage and retrieval.
  6. Review the importance of Inventory Management to the entire Supply Chain.
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