Principles of Inventory Management (PIM) is coming to Blue Ridge APICS, June, 2014!
Curriculum Overview: The PIM course introduces essential vocabulary and skills in identifying and applying the basic principles of effective inventory management. Basic methods of planning and controlling stock in manufacturing, institutional, distribution, and retail environments will be covered through class discussions, team exercises and affirmation quizzes & tests. The questions of “what” and “how much” to carry are addressed via examining current and evolving technologies of inventory control.
Who Should Attend? People new to the materials or operations field, or working in positions that interface with these functional areas, are encouraged to participate in this fundamentals learning opportunity. Professionals involved in buying/planning, cost accounting, design & industrial engineering, logistics acquisition, materials management, shop supervisors, information systems, production or supplier scheduling and stockroom operations will further sharpen their skills by comparing existing company procedures to industry Best Practice standards.
Educational Benefits: Participants are introduced to essential terms and skills in identifying and applying the principles of inventory management. Basic methods of planning and controlling inventory in manufacturing, distribution and retail are covered. A wide variety of teaching methods are used including YouTube clips, DVDs, group activities, case studies, class discussions, and quizzes. By the the end of this 28-hour workshop, you’ll be able to:
- Define inventory and explain its financial impact on an organization’s operating performance
- Identify & calculate Carrying Costs and Ordering Costs
- Explain effects and benefits of various Lot Sizing methods for determining order quantity
- Determine the most cost-effective levels of Safety Stock
- Develop target inventory levels for Independent Demand items
- Discuss effects of random variation on Forecasts, and its impact upon Safety Stock
- Apply Lean concepts to eliminate excess inventory and improve internal processes
- Describe implications of strategic sourcing, responsibilities of sourcing and its impact on inventories
This course in being offered on four consecutive and full Tuesdays: June 3, 10, 17, 24, 2014, from 8:30 am to 4:30 pm. It will be held at InterChange Group, Inc. corporate offices at 4666 Early Road, Mt Crawford, VA 22841. Students should bring highlighters & a calculator with a square root key to every session. Cost per student includes lunch, beverages, and tuition plus the participant guide.
Cost: APICS’ all-inclusive member rate is $995.00. Nonmember premium is $1295, however, we are happy to bundle your first year of membership for a total of $1195.
Your instructors for this course are APICS Blue Ridge Chapter President, David Warren, CPIM, CSCP and APICS Master Instructor, Maryanne Ross, CFPIM, CIRM, CSCP, CDDP. For more information or to register, please contact David Warren at .