Overview
Inventory is often one of the largest investments for distributors. As a result, effective inventory management can be the difference between Thriving, Surviving, and Dying.
Inventory is necessary for business operations and customer service, but distributors must balance the profitability of customer service against the cost components of inventory in order to optimize their return on inventory investment. Most distributors determine their inventory management policies solely based on volume or product lines, but this myopic view could be detrimental in the long run.
A structured inventory model should consider Volume, Velocity and Profitability as critical dimensions and should align with the firm’s strategy and value proposition in order to be profitable in the long run. This program will:
- Evaluate your firm’s existing inventory management policies
- Determine the optimal inventory stratification methodology
These are the first step towards establishing a structured inventory management model.
Benefits
- Understand profitable and non-profitable Inventory
- Prioritize Inventory and deploy resources appropriately
- Adopt a simple, practical, and scientific framework
- Utilize existing information in your system to increase ROI
Through knowledge learned from the inventory management program, attended by all our management and key salespersons, we have reduced our total inventory levels by over 20%.”
-Brent A. Burns, Building Materials Distributor
Who Should Attend?
- Sales and Branch Managers
- Purchasing Personnel
- Executives and Strategic Managers
- Business Analysts and IT Managers
Deliverables
- Slides as a course booklet
- Workbook for exercises and activity
- Inventory Analytics Book
- Certificate
Required Materials
Laptop with Excel 2007 or Later
Key Customer Metrics You Track at Your Firm
Customer Data from Your Firm
Calculator
