04 Dec Introduction to Inventory Control
A 4-hour training session that introduces inventory control/management. We examine why inventory costs are so high and the realities of not controlling our inventory. Other topics include: Reasons for inventory control, carrying costs, supply and demand, how to begin your control, maximum inventory, minimum inventory, ABC classification, Pareto’s Law (80/20), cycle counting, how to cycle count, and EOQ (Economic Order Quantity). Other aspects include: calculating EOQ, balancing carrying vs. ordering costs, factors of a successful inventory control system, visual controls, and examples of successful inventory management.