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Live Webinar

90-minute live streaming program
  • May 27
  • 1:00 - 2:30 pm EST

How to Reduce Inventory Levels to Increase Your Bottom Line

May 27

Learn how to define, assess, prioritize, and implement inventory targets and policies.

Inventory and supply chain managers are often tasked with reducing inventory levels while maintaining high (or higher) levels of customer service. With these seemingly opposed and competing dynamics, inventory managers struggle to find ways to place the right inventory at the right place, at the right time at the lowest cost, while also balancing their planner’s time, effort, and focus. This topic will focus on how to define, assess, prioritize, and implement inventory targets and policies using an inventory segmentation model. It will also discuss how to both track performance to inventory targets and how to identify and implement additional improvements via an Inventory Health metric.

Learning Objectives

  • You will be able to define ways to use an inventory segmentation model to drive inventory planning and performance improvement.
  • You will be able to describe the financial benefits of reducing inventory.
  • You will be able to explain common inventory target calculations.
  • You will be able to identify inventory improvement opportunities using an inventory health metric.

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Why Lorman?

Over 34 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

Inventory Management Overview
  • Introduction
  • Benefits of Improving Inventory Performance
  • Key Definitions and Inventory Drivers
Common Inventory Target Calculations
  • Safety Stock
  • Cycle Stock
  • Pipeline Stock
Inventory Segmentation Approach to Improve Inventory Planning and Performance
  • Segmentation Definition
  • Segmentation Approaches
  • Segmentation Policies and Strategies to Drive Improvements
Inventory Health Metric Design and Implementation to Drive Both Tactical and Longer-Term Improvements
  • Metric Definition and Calculation
  • Opportunity Identification
  • Review Process and Frequency
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More Program Information

Why Lorman?

Over 34 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.
     

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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More Program Information

Why Lorman?

Over 34 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

Daniel Gravelle

Daniel Gravelle

EY Parthenon

  • Senior Director, Working Capital Advisory Services, EY Parthenon
  • B.A. degree, in economics (distinction in economics), management, magna cum laude, St. Olaf College
  • Can be contacted at 507-219 8084 or [email protected]
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Why Lorman?

Over 34 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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Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • State Specific Credit Tracker
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* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408339
Published 2021
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