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 video 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.
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
Faculty
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
- Member of AICPA, NJSCPA, NCACPA, FICPA
- M.B.A. degree in professional accounting, Rutgers Business School; Bachelor of music education, Florida State University
- Can be contacted at [email protected], 704-837-0185, on Twitter® @jcampbellcpa, www.facebook.com/jcampbellcpa, or www.linkedin.com/in/jcampbellcpa
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 to create highly efficient and profitable product businesses
- Six Sigma Green Belt, project management professional
- B.S. degree, textile and industrial engineering
- Can be contacted at [email protected] or www.theprojectbooth.com
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