Master Inventory Management
Tracey Smith has worked with companies to successfully transform their inventory management. For example, Tracey removed $2M from the cost of inventory which freed up substantial cash flow, reduced the OOS (out-of-stock) items from 25% to 6% and shifted the balance of inventory from having 25% of its finished goods less than 90 days old to over 85%.
Join me in this course to learn how to do this yourself! Need another reason to sign up?
Expert Instruction: Learn from Tracey, a Certified Supply Management Professional (CPSM) with the Institute of Supply Management (ISM) with a background in mathematics (BMath), engineering (MASc) and business (MBA). Tracey has been using data to improve businesses for over 30 years.
Hands-on Training: Engage in practical exercises and case studies that reflect the complexities of today's supply chains.
Immediate Impact: Apply what you learn immediately to improve forecasting accuracy, reduce stockouts, and minimize excess inventory.
Certificate of Completion: A certificate of completion will be issued upon request.
What You Will Learn
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The sawtooth chart of inventory
Inventory trade-offs: risks and consequences of different inventory levels
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Learn how inventory levels impact cash flow and can constrain a company's success
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Constant vs variable.
How do you measure supplier lead times to ensure they are delivering within their promised lead times?
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Learn techniques to predict customer demand and set realistic forecast accuracy expectations.
Historical vs. Forecasted Demand
Factors impacting demand (volatility, promotions)
Seasonality and Trend Analysis: Techniques to account for seasonality and trends in demand forecasting.
How to predict demand of new products
How to plan for phasing out old products
How long will it take to sell through the remaining inventory? Will any raw materials become orphaned?
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Simple safety stock calculations
Safety stock with constant demand and constant lead times
Safety stock with variable demand and variable lead times
Alternative approaches to holding safety / buffer stock
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How Safety stock and reorder point work together to tell us when to order more inventory.
What is the Economic Order Quantity (EOQ): Calculating the optimal order quantity to minimize total inventory costs.
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Discover strategies to balance inventory levels, reduce holding costs, and increase service levels.
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First-In, First-Out (FIFO) vs Last-In, First-Out (LIFO): Understanding different inventory valuation methods and their financial impacts.
Inventory Audits and Cycle Counting: Techniques for regularly verifying inventory accuracy.
ABC/XYZ Analysis: Classifying inventory based on importance and variability in demand to prioritize management efforts.
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Learn to measure and analyze key performance indicators (KPIs). You only need a few!
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Master the art of data visualization to identify trends and make informed decisions quickly.
View several REAL DIY inventory dashboards made with Power BI.
Who Should Enroll?
Supply Chain Managers looking to enhance their analytical skills and improve inventory management.
Operations Managers aiming to streamline processes and reduce inefficiencies.
Procurement Professionals aiming to make their ordering more strategic and intentional.
Hands-on Production Planners who need to order their own inventory.
Business Analysts seeking to apply their skills in a supply chain context.
Business Owners who want to understand “what good looks like” and how to get the right inventory at the right time for the best customer experience.
Sign Up Now To Express your Interest in this course. I’ll keep you up-to-date on the course development schedule.
Fill out the form below to get started. Seats will be limited, so secure your spot now.
Those who provide feedback on the course content as it is being developed can earn a discount code to the course.
Price: $97
Contact Us: For any inquiries, visit our Contact Us page.
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Success Stories - What Students SAY from my Other Courses
“Really enjoyed this course. Clear instructions, easy to understand, nice bite-sized chunks and 10 “assignment” activities to practice and embed learning. Great intro to this topic. I have already purchased my next course from Tracey.”
“Tracey has a way of taking a complex topic and explaining it in a simple way.”
“I learnt a lot, HR Analytics is new to me and I am excited for the knowledge and insights gained in this course. I can make impactful contributions to my team”
“Brilliant ideas from the presenter. Good research and conclusions”