Inventory Management & Supply Chain 101

Overview

It is not uncommon for small to mid-sized businesses to get tangled up in inventory and supply chain issues. The supply environment has run in a steady state for decades; however, a new paradigm has emerged. This course helps manufacturing leaders to understand and become proficient in inventory & supply chain management.

Course Overview

This course provides participants with a high-level knowledge base of the ‘must have’ processes for successful execution of inventory & supply chain management. Participants will learn the components that come into play and understand how to link them to their company’s strategic, operating, and tactical plans. The course will incorporate examples of how real small businesses have applied these processes. Participants will also learn methods of sales and capacity management, inventory planning and supplier scouting and screening techniques to meet customer expectations and financial obligations.

The DVIRC Difference

This program is the first and only of its kind, designed exclusively to help small manufacturers (SMMs) navigate increasing supply chain challenges. Additionally, participants will have access to leading supply chain and manufacturing experts who have executed these strategies in numerous organizations. Our instructors all have unique backgrounds and strong experience in manufacturing and distribution with both large and small companies. Our instructors will share best practices for those looking to make real-time adjustments they can control to offset current disruptions and supply chain issues. Between sessions, attendees will be able to schedule coaching support with Eric, Chris and Sylvia to turn this curriculum into real-world application.

What You’ll Learn

This course will help participants to:

  • Articulate and understand the components of supply chain planning
  • Understand and apply the principles of demand & capacity planning
  • Learn to how to create risk & cost-based controls for effective inventory management
  • Experience creating and using inventory & supply chain key performance indicators
  • Perform supply chain mapping
  • Learn best practice Supplier Scouting techniques
  • Learn what implementing a formal Inventory Management and Supply Chain program entails

Who Should Take This Course

Individuals who are responsible for planning, purchasing, inventory control, or operations functions.

Inventory Management & Supply Chain 101 Course Curriculum

Session 1: 09/08/22 9:00 am – 10:30 am, Virtual

  • Supply Chain Management (SCM) principles and key processes
  • Demand planning and customer management
  • Operations and production planning
  • Inventory programs and strategies

Session 2: 09/09/22 9:00 am – 10:30 am, Virtual

  • Supplier management and procurement best practices
  • Knowing your constraints and risk factors
  • Sales, Inventory, and Operations Planning (SIOP) program
  • Case study and attendee assignment

Session 3: 09/12/22 9:00 am – 10:30 am, Virtual

  • How to benchmark Suppliers
  • Where and How to Research New Potential Suppliers
  • Exploring Alternative Supply Chain Options
  • Setting Up Vetting Criteria/Scoring Standards
  • The “Right Way” to Interview Suppliers

Session 4: 09/13/22 9:00 am – 10:30 am, Virtual

  • Connecting the dots between Finance and Strategic Planning
  • Performance measurement and key performance indicators (KPIs)
  • Getting the organization and stakeholders on-board
  • Assignment report-out

Benefits

Participants will benefit by learning how to protect key customers, anticipate supplier issues, and manage inventory cash flow impacts. Additional benefits:

  • This will be a highly interactive experience with subject matter expert-led lessons and corresponding manufacturing-based case studies
  • You’ll be provided a supporting workbook complete with exercises, tools and one-on-one coaching sessions that enable you to design and implement a strategy as unique as your business
  • Three 90-minute one-on-one coaching sessions
  • Allotted time for sharing of individual successes, concerns, failures, and opportunities related to your business. During these exchanges, tactics and best practices will be shared to help make the most of a given situation
  • This program takes a “learn today, apply today” approach to drive dramatic improvements in your business

Instructors

Cancellation Policy

Cancellations received up to 5 business days prior to class start date will not be charged the training fee, or will be refunded if payment has already been submitted. Cancellations 1-3 business days prior to class will be charged the training fee. As a courtesy, we will allow you to apply 50% of your payment towards a future training course within one year of the cancellation date. No refund will be provided for same-day cancellations and no-shows; customer is responsible for full payment without future training credit. Registrant substitutions may be made at any time. Cancellations must be submitted via email to jenoch@dvirc.org or by phone at 215-552-3827.

COVID-19 Policy

DVIRC recommends all guests be vaccinated against COVID-19.

Unvaccinated visitors must take a rapid test (which may be supplied by DVIRC) and receive a negative response. Considering the test will take about 15 minutes to process, all unvaccinated guests should arrive 15 minutes early to ensure they can take the rapid test and receive negative results before they proceed to the training room or to their scheduled meeting within the building.