Supply Chain Management Series: : Purpose and Function of Inventory

This is the second of a 4-part series of webinars on Supply Chain Management designed for the small business owner. Note: To receive the full benefit of the material, one should attend all sessions, but that is not required.

Workshop 2: : Purpose and Function of Inventory

In this session, we will:

• Explain why companies carry inventory

• Define the five functions of inventory and describe their use

• Describe the purpose of decoupling inventories

• Detail the components of inventory decision making

• Advanced Topics

• Use a simple formula to estimate inventory throughput

• Define the elements of inventory cost

• Understand and calculate inventory carrying costs

• Define the elements of manufacturing and purchasing costs

INSTRUCTOR: St. Claire Gerald (APICS Master Instructor, CSCP) is Principal Consultant for Harambee Logistics Solutions, specializing in Global Supply Chain certification and Supply Chain Management