Supply Chain Management for Small Business - Webinar

Supply Chain Management for Small Businesses September 15, 22 , 29 ; October 6 , 2021 10am to 12pm There will be two workshops each with 2 sessions for a total of 8 hours of instruction and interactive exercises. Workshop 1: Introduction to Inventory Management Inventory management refers to the process of ordering, storing, and using a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing such items. Part A: Fundamentals of Inventory Management (2 hours) September 15, 2021 • 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) September 22, 2021 • 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) September 29, 2021 • 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) October 6, 2021 • 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.

Speaker(s): 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

Co-Sponsor(s): SBDC at William Paterson University

Fee: No Cost