About Workshop
Material Management is a scientific technique, concerned with Planning, Organizing &Control of flow of Materials, from their initial purchase to destination. In the earlier years, Materials Management was treated as a Cost Centre, since Purchasing Department was spending money on materials while Store was holding huge inventory of materials, blocking money and space. Subsequently with the process of liberalization and opening up of global economy, there has been a drastic change in the business environment, resulting in manufacturing organizations exposed to intense competition in the market place. Manufacturers worldwide have been working out various strategies to face the above challenges and to cut down manufacturing costs to remain competitive.
Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by an enterprise. An organization's Inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection.
Realizing the effect of materials on the functioning of any organization, all areas connected with receiving, buying, stocking, issue of materials, are being brought under the name of “Materials Management” as one function in the organization. We can define Materials Management as “the function responsible for the coordination of planning, sourcing, purchasing, moving, storing and controlling materials in an optimum manner so as to provide a predetermined service to the customer at a minimum cost.” Material Planning and Inventory Control is the most important function of Materials Management and it forms the nerve centre in any organization.
The multi-disciplinary competencies and capabilities of effective Material and Inventory Management give enterprises a competitive advantage to succeed in today’s competitive environment.
Material and Inventory Management is an important management tool which will be very useful in getting the right quality & right quantity of materials at right time, and having good Inventory control. Please keep in mind, “It’s easy to turn cash into inventory, but the challenge is to turn inventory into cash”.
Please combat this challenge and learn Material and Inventory Management and contribute to your organization you work or you own.
Workshop topics to be covered:
DAY 01:
Introduction to program & learning objective
Definition and aim of Material Management
Four basic needs of Material Management
Material Procurement Process
Make or Bye decision
Material Management and Profitability
Material Management and Transportation
Tea break
Material Requirement Planning
Bill of Material (BOM)
Distribution Management
Materials Handling and Equipment
Prayer and Lunch break
Introduction to inventory and related issues
Demand Management
Inventory Replenishment
How much to order, EOQ and related issues
Lead time Management
The 80/20 rule (ABC analysis)
Tea break
LOB/VMI/CMI/EDI/BPR/ECR/CDC
Inventory Turnover
SKU level Inventory
Inventory and Insurance
MRO Inventory
Inventory checking
DAY 02:
Introduction to program & learning objective
Incoterms, TCO, RFQ, RFP, RFI, Outsourcing
Receipt and Issue of Inventory
Inventory Valuation
Green concept in Material, Inventory and Store Management
Tea break
Why have Stores or Warehouses?
How to chose Store/Warehouse location
Store/Warehouse Layout
Types of Warehouse
Prayer and Lunch break
Warehouse: Picking, Packing and Shipping
5S in Warehouse and Plant Management
Safety at Warehouse and related issues
Warehouse Design and its Parameters
Warehousing Activities
Tea break
Learning check
Case Studies
Glossary
Question-Answer Session
Wrap up of the day
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