Online Training on Inventory Control - A tool for competitiveness

Focus Areas

• Fundamentals of Inventory Management
• Types of Inventories
• Various costs in Inventory
• Conflicts in Inventory Management
• Factors influencing inventories
• Various techniques for inventory control

Background

Inventory in excess is one of the manufacturing wastes, which can dent the profit of the company. It covers up the inefficiency of the system. At the same time, less inventory can lead to stock out situation leading to business loss. Balancing between excess and deficit through various inventory control measures is the need of the hour and can support in enhancing competitiveness of the company.
Inventories have to be controlled at the raw material stage, Work in progress (WIP) stage and at the finished Goods stage. Industries must apply integrated approach for the control of Inventories since many departments and functions are responsible for the excess or deficit of the Inventories.

Keeping the above points in view, Indian Machine Tool Manufacturers' Association (IMTMA) is organising online training on “Inventory Control - A tool for competitiveness”

The programme will focus on various elements of purchase practices proven well in automotive industries which can be applied in non-automotive industries as well. The Trainer shares his rich global experience in the domain and will be more interactive so that the delegates can get back with clarity on action plan which they can implement from the next day.

Group exercises and discussions carried out during the programme, will enable the delegates to relate and discuss the current challenges they are facing.

Key Takeaways

• Clarity on inventory management, types & benefits of inventory control
• Understanding factors responsible for the inventory
• Learning various measures to control inventories
• Appreciate the need of managing conflicts within the company and the need for integrated approach

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