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Live Webinar

90-minute live streaming program
  • December 21
  • 1:00 - 2:30 pm EST

How To Reduce Inventory Levels to Increase Your Bottom Line

December 21

Learn to optimize inventory levels to increase your company's bottom line.

Many Purchasing managers who are required to manage inventory levels often come across complexities in optimizing inventory to increase the company's bottom line. In the details of daily tasks, it can be difficult to focus on the overall strategy while products are being delivered, counted, protected, and moved. Additional challenges arise when determining which products should be cleared out, and whether that should happen by accelerating sales or slowing purchases. This topic will provide clarity and powerful techniques which span both data-driven thinking and soft-skills prowess. The material also illustrates a successful inventory forecasting method and innovative approach to optimizing the low risk of supplier diversity and the attractive benefits of purchasing power that comes from consolidating suppliers. This information is critical for Purchasing managers, Procurement managers, small business COOs and CEOs, Inventory specialists, and management consultants so they can avoid dusty, expensive relics in the warehouse and increase profits.

Learning Objectives

- You will be able to identify growth opportunities and down-trending products in your company.

- You will be able to recognize the red flags of dead inventory.

- You will be able to discuss winning negotiating techniques with your suppliers to keep inventory levels down.

- You will be able to review a rolling inventory forecast.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Moving What You Have
  • The Hidden Cost of Hanging Onto Dead Stock
  • The Cost of Offloading the Wrong Products
  • Dollars and Days: The Real Indicators of Dead Inventory
Slowing What You Get
  • Managing the Timing of Purchases
  • Winning Negotiating Techniques
  • Managing the Balance Between Diverse Suppliers and Purchasing Power
Seizing Opportunities and Minimizing Risk Exposure
  • Identifying Growth Areas and Down-Trending Products
  • Promotions to Leverage Both
  • Managing Reorder Points for New Products
Forecasting Inventory Levels
  • Sales Projections: The First Lever for Forecasting
  • Live Forecast Demo
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     
  • CPE 1.8 including Production 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Production for 1.8 hours. Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.8 hours of continuing professional education.
     

Who should attend?

This live webinar is designed for purchasing managers, buyers, contracting and materials managers, procurement managers, presidents, vice presidents, accountants, bookkeepers and financial professionals.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Layne Booth

Layne Booth

The Project Booth

  • Owner and Operations catalyst of The Project Booth
  • Practice emphasizes all aspects of Operations, Supply Chain Management, Manufacturing, Inventory and Forecasting
  • Conducts regular workshops on Back End Systems and Strategies
  • B.S. degree, textile and industrial engineering
  • Six Sigma Green Belt, Project Management Professional
  • Can be contacted at [email protected] or www.theprojectbooth.com
Jaime Campbell, CPA, MBA

Jaime Campbell, CPA, MBA

Tier One Services, LLC

  • Partner in the firm of Tier One Services, LLC
  • Practice emphasizes all aspects of internal accounting activities for $1M to $10M for-profit and not-for-profit organizations
  • Conducts regular seminars and workshops on Excel, QuickBooks, financial statements, and cash flow forecasts
  • Author of several publications related to the areas of Excel, QuickBooks, and other accounting technology and policies
  • M.B.A. degree in professional accounting, Rutgers Business School; Bachelor of music education, Florida State University
  • Member of AICPA, NJSCPA, NCACPA, FICPA
  • Can be contacted at [email protected], (704) 837-0185, on Twitter® @jcampbellcpa, www.facebook.com/jcampbellcpa or www.linkedin.com/in/jcampbellcpa
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401655
Published 2017
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