definition of inventory management by abe25

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									                                                                           Natoyolu Caddesi - Ata-2 Sitesi, Gelincik Sokak, Villa No:9 Çengelköy / İSTANBUL
                                                                                      Tel: 0216 486 30 95 (pbx) Fax: 0216 486 30 94 FCT: 0530 313 37 10
                                                                                                     www.bogaziciegitim.com.tr info@bogaziciegitim.com.tr




    FUNDAMENTALS OF INVENTORY MANAGEMENT
                  AND MRP
                                             Course Director: Matt KRAUSE
                                              5-6 April 2008 / 725 YTL+KDV

       Based on the industry-leading APICS body of knowledge, this seminar teaches your
          employees how to manage inventory well, and how to plan procurement and
                                     production activities.
Inventory: For most organizations, inventory is one of the most visible aspects of doing business.
Beginning with the management of suppliers delivering raw materials to goods in various levels of
completion in the production process and management and delivery of finished goods in the
distributions channel, each type represents money tied up until a customer purchases the item.
Production planning: To effectively use a material requirements planning (MRP) system, it is
essential to understand how bills of material (BOMs) are structured and how MRP calculates
requirements. Knowing how to structure a BOM and calculate material requirements is an
essential skill in any production environment.
This seminar stresses real life applications. During the seminar, you will practice real calculations
of order quantities, reorder points, and MRP production runs.
How You Will Benefit:
 Reduce your cost of inventory
 Learn how to calculate optimum inventory levels
 Make your scheduling and shop loading more efficient
 Learn how to calculate production needs and schedules
 Become truly responsive to your customers’ real needs
What You Will Cover:
 Overview of the functions of inventory management
 Real world applications of inventory management
 Quantitative methods of inventory management
 Overview of Material Requirements Planning (benefits, requirements, and processes)
 Bills of material, master planning and scheduling
Who Should Attend:
Factory and inventory control professionals, manufacturing and production control managers,
industrial engineers, plant managers, material and purchasing managers, factory superintendents
and customer/technical service managers who can benefit from enhancing their inventory
management techniques.
Seminar Outline:
 Definition of inventory management
   Why it exists
   What decisions it makes
 Objectives of inventory management
   Purpose and goals
 Elements of common inventory management systems
   Inputs
   Monitoring
                                  Natoyolu Caddesi - Ata-2 Sitesi, Gelincik Sokak, Villa No:9 Çengelköy / İSTANBUL
            Tel: 0216 486 30 95 (pbx) Fax: 0216 486 30 94 FCT: 0530 313 37 10 - www.bogaziciegitim.com.tr info@bogaziciegitim.com.tr
                                                                          Natoyolu Caddesi - Ata-2 Sitesi, Gelincik Sokak, Villa No:9 Çengelköy / İSTANBUL
                                                                                     Tel: 0216 486 30 95 (pbx) Fax: 0216 486 30 94 FCT: 0530 313 37 10
                                                                                                    www.bogaziciegitim.com.tr info@bogaziciegitim.com.tr



   Outputs
 Types of inventory
   Raw materials
   Work in process
   Maintenance, repair, and operating supply (MRO)
   Finished goods
 Why we keep inventory
   Protect against price changes
   Provide a selection to customers
   Take advantage of discounts
   Protect against demand uncertainty
 Costs of inventory
   Holding costs
   Ordering costs
   Setup costs
   Other costs
 Disadvantages of inventory
   Difficult to control
   Conceals other problems
   Conflicts with product life cycles
   High storage costs
 ABC analysis
   Pareto principle
   Different classes
   Different methods of grouping
 Cycle counting
   Definition
   Deciding which items to count
 Inventory management models
   Fixed order model and assumptions
      Economic order quantity
      Quantity discount
      Safety stock and reorder point
   Fixed time period model and assumptions
 Quantity discounts
   How to evaluate
 Stockouts
   Why they happen
   Service level
   How to estimate their costs
 Safety stock and reorder point (ROP)
   Definition
   How to calculate them
 Independent and dependent demand
   Definition
   Real world practices
 Material Requirements Planning (MRP)
   What it is
   Purpose and goals
   Major inputs and outputs
                                 Natoyolu Caddesi - Ata-2 Sitesi, Gelincik Sokak, Villa No:9 Çengelköy / İSTANBUL
           Tel: 0216 486 30 95 (pbx) Fax: 0216 486 30 94 FCT: 0530 313 37 10 - www.bogaziciegitim.com.tr info@bogaziciegitim.com.tr
                                                                         Natoyolu Caddesi - Ata-2 Sitesi, Gelincik Sokak, Villa No:9 Çengelköy / İSTANBUL
                                                                                    Tel: 0216 486 30 95 (pbx) Fax: 0216 486 30 94 FCT: 0530 313 37 10
                                                                                                   www.bogaziciegitim.com.tr info@bogaziciegitim.com.tr



 Master Production Schedule
   Definition
   What it tells us
   Benefits
   Structure
   Inputs
   Outputs
 Balancing real and theoretical worlds
 Bills of Material
   Types
   Where used
   Relationships
   Levels
   Dependencies
 Planning decisions
   Bucket size
   Planning horizon
   Frequency
   Report filters
 Item master data
   Lead time
   Lot size
   Safety stock
   Scrap/yield
 Common MRP system exception messages




                                Natoyolu Caddesi - Ata-2 Sitesi, Gelincik Sokak, Villa No:9 Çengelköy / İSTANBUL
          Tel: 0216 486 30 95 (pbx) Fax: 0216 486 30 94 FCT: 0530 313 37 10 - www.bogaziciegitim.com.tr info@bogaziciegitim.com.tr

								
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