This course is a practical guide to inventory management for wholesale distributors and stores that supply "hard goods". It includes many formulas, tables and charts that cover all areas of inventory management.
On completion of this course you should be able to:
Deal with merchandise classification and selection, forecasting, safety stocks, replenishment, purchasing, promotions, forward buying, stock adjustments, and supply chain topics.
Apply various techniques that were used to manage inventories in the author's company for years.
Understand how to deal with thousands of different items and with very high service level requirement.
Illustrate the key points of the course through anecdotes and case histories.
Apply and use valuable blend of strong, proven mathematical techniques and real life examples and experiences.
Introduction to the automotive aftermarket
The shape of and size of auto parts inventories
Best practices for inventory control
Selecting items for store and DC inventories
The benefit of short lead time
Item level forecasting
Item level order quantity
Lead time forecasting
Setting safety stock amounts
Establishing service level goals
Setting the best review time for product line orders
Establishing a schedule budget
Replenishment of stores
Replenishment purchasing for distribution centres
Alternate and superseded items
Stock adjustment process
Overstock identification and stock adjustments
Logistics of multiple locations supplier performance reviews