Material cost comprises of the biggest pie of the total cost for most manufacturing companies.  Demand of the revenue stream is that – we maintain stock of all materials – Direct and Indirect, FG and RM and more. Limitations of scarce money available for running the business forces us to have as little inventory as possible. To be successful we need to understand the science of – how much is enough and how much is too much.  The training session is designed to impart knowledge of most successfully used tools in procurement and manufacturing world. Armed with this knowledge, one can confidently order what needs to be and when needs to be.

This will also help the procurement team to significantly contribute towards improvement of ROCE.

Focus Areas

• Introduction
• Inventory Turnover Ratio / DSI
• Inventory management through ABC, FSN, VED analysis (Exercise)
• Strategy for optimum inventory management
• Safety stock – How to calculate (Exercise)
• JIT, KanBan, Supermarket, VMI
• How much to Order, EOQ (Exercise)
• Logistic Management
• Safety stock through KanBan loops
• Levelled production (Heijunka), levelled ordering
• Drum – Buffer Rope, Syncro ordering, Premium freight
• Supplier selection
• Pricing
• “Should” costing – Objective, Methodology, Advantages, Prioritisation

Background

Key Takeaways

After undergoing the programme, the participants will be able to -

• Clarity on what to order and how much to order
• Understanding of various tools such as – ABC/FSN/VED, KanBan, Super Market, EOQ, etc
• Better contribution to the organisation through reduced working capital & pricing

Enquire About This Programme