How to Achieve Inventory Record Accuracy

How to Achieve
Inventory Record
Accuracy
Driving Supply Chain Competencies
primus
www.putraprimus.com
About Primus
We are an independent supply chain practice
operating in Singapore, Malaysia and Indonesia. We
help companies craft supply chain strategies and help
them execute those strategies to achieve competitive
advantage.
It is our belief that for a firm to lead its market sector, it
needs to have a demand-driven supply chain that is
tightly coupled with an effective human resource
strategy. Such a strategy must maximize the firm’s
unique investments in engineering, manufacturing,
distribution, marketing and IT infrastructure.
Because it is ultimately people that run supply chains,
our practice focuses on education to build people
competencies so vital in operational execution. We
couple this with a team of seasoned practitioners who
then act as “coaches” to guide them in implementing
those strategies.
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How to Achieve Inventory Record
Accuracy
Even many of the larger organizations have massive data integrity
issues that create unnecessary variation in their planning and
manufacturing processes. The tragedy is the simplicity of the issue.
It is just a matter of management expectations.
It is amazing. Despite the fact that inventory accuracy is so easy to obtain
and cost effective, it still eludes manufacturing and service organizations.
Why This Workshop?
Even though a robust inventory control process is not expensive or
technology dependent and is one of the most effective methods for
minimizing unnecessary costs to an organization, statistical evidence suggests
that more than 50% of businesses allow their inventory accuracy records to
flounder below acceptable cost-effective levels.
This workshop will work you through a step-by-step guide to achieving record
accuracy in a manufacturing, retail, or distribution facility. It clearly illustrates
how to achieve Class “A” 95+% perfect inventory balances in 120 days with
minimal cycle counting for ongoing maintenance. This course will enable the
delegate to understand the key issues involved.
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Why inventory accuracy is important and the effect it can have on the
daily running of the business
To understand what needs to be done to carry out a successful annual
stock take that will satisfy the Materials Manager and the auditors.
To understand the concept of cycle counting and what needs to be in
place before a cycle counting program can be effective.
To appreciate the need to establish the cause of errors and some of
the techniques that can be used to establish them.
To understand how to apply these principles in the work place.
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Key Learning Points
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Why inventory record accuracy is important and the impact it can
have on the effectiveness of the various modules of the planning
system, and the effects on customer service levels.
How to manage the annual stock take, considering the preparation
required and methods that can be used to make it more effective.
The concept of cycle counting, using a control group, setting up a
cycle counting program and the various ways of determining which
items are to be counted.
The responsibility for cycle counting, the documentation and the cut
off procedures required, and reviewing and acting upon the results.
Examining two of the practical problem solving techniques that can be
used, such as “Pareto analysis” and the “Cause & Effect diagrams”
often referred to as “Fishbone diagrams”
The “Ten Step Plan for Accurate Records” is explained to enable the
delegate to obtain the high level of accuracy required in his own
company.
Who Should Attend
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Stock Controllers
Inventory Supervisors
Finance & accounting staff involved in stock-taking
Logistics Managers
Consultants
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Instructor Profile
Dr Ramlee Ibrahim, aged 59 is a proven thought and strategic
leader in Supply Chain Management with a track record
spanning more than 30 years in the field. He is a veteran of
several global supply chain transformations and is a
recognized expert in supply chain design and in developing
and executing strategic operational initiatives involving
complex manufacturing and distribution operations.
He has held senior roles with companies like Neptune Orient Lines, Energizer,
ICI and Guess. He has also helped global giants like Dell, Singapore Airlines,
and Petronas among others in transforming their respective supply chains.
He holds a Ph.D. in Industrial Engineering, all three APICS certifications and is
both a Certified Master Black Belt and a Certified SCOR Professional.
Ramlee is an experienced trainer and coach, having trained more than
2000 professionals over the past 10 years. He is also active as a thought
leader in supply chain management and is currently serving as Vice
President of the Supply Chain Council Southeast Asia Chapter as well as
Technical Advisor to the Indonesian Logistics Association (ALI). He was most
recently involved in the consolidation of the APICS Dictionary with the SCOR
Model in a global collaborative work with APICS and The Supply Chain
Council.
Ramlee is Singaporean but works out of Kuala Lumpur, and Jakarta. He can
be contacted at: ramlee@primus.com.my
The Primus Group of Companies
Malaysia:
Primus Consulting
M-2-2 The Arcadia
Jalan USJ 11/1
UEP Subang Jaya
47630 Selangor
Tel: 603-80110021
Fax: 603-21784885
Indonesia:
Putra Primus Perdana
28/F Menara Karya 28th Floor
Jl HR Rasuna Said Blok X5 Kav 1-2
Jakarta 12950
Indonesia
Tel: 6221 57895557
Fax: 6221 57895888
Web URL: www.putraprimus.com
Training Blog: www.putraprimus.com/blog
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