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 more reasons 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.

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.

Course Outline

Each set of lessons in this course will be released on the following dates. If you purchase the course now, you will see these lessons appear in the course on this schedule.

• Introduction to Inventory Management & the Bill of Materials - Available now

  • Introduction to Inventory Management and Inventory Dynamics

  • How to Read a Bill of Materials

    • Exercise: Using the BoM to Determine the Impact of Ending a Product

  • The Sawtooth Chart of Inventory

  • The Trade-Offs of Carrying Too Much or Too Little Inventory

• Understanding Lead Times - Available now

  • Constant vs. Variable Lead Times

    • Exercise: Calculating Lead Times Using Purchase Order and Delivery Data

  • The Impact of Lead Times on Inventory Levels and Cash Flow

  • JIT vs. Traditional Stocked Inventory Strategy

    • Exercise: Choosing the Right Inventory Strategy for Your Business

• Deeper Dive into Safety Stock and Reorder Point - Available now

  • Safety Stock and Reorder Point Calculations

  • Alternative Safety Stock Equations

    • Exercise: Comparing Both Safety Stock Equations

  • A Tale of Woe

• Understanding Demand - March 15, 2025

  • Demand Planning and Forecasting Techniques

  • Data Sources and Collection in Demand Planning

  • Understanding Demand Variability and Uncertainty in Inventory Management

    • Exercise: Try your hand at forecasting!

  • How to Do an ABC Analysis to Prioritize Your Inventory

    • Exercise: Conduct two different types of ABC analyses

  • Measuring Demand Planning Accuracy

• Additional Inventory Strategies Related to Cash Flow - April 1, 2025

• Inventory Management Metrics - April 15, 2025

  • How to measure inventory turns for every SKU