Supply Chain Management for Small Businesses Workshop

Workshop 1: Introduction to Inventory Management Part A: Fundamentals of Inventory Management (2 hours) March 17, 2022 Define inventory management Define inventory management objectives Describe the different classes of inventory Identify the different levels of inventory management Part B: Purpose and Function of Inventory (2 hours) March 24, 2022 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 Workshop 2: Introduction to Inventory Management Part A: Inventory Replenishment Management (2 hours) March 31, 2022 Explain the basic functions of statistical inventory management Understand the difference between independent and dependent demand Define the theory of inventory replenishment management Describe the difference between continuous and periodic inventory review Define the seven inventory replenishment methods Part B: Inventory Management Case Study (2 hours) April 7, 2022 Review of a case study to allow students to apply what they have learned in our lectures and readings to solve a supply chain problem in a highly realistic simulation.

Fee: No Cost