- Duration: 3 Days
Course details
The role of inventory in supply chain management puts an organisation in the position of trying to strike a balance between fulfilling the demands of customers, which is often difficult to forecast with precision or accuracy, and maintaining adequate supply of materials and goods.
The impact of overstocking is considerable as inventory has an average holding cost of 30% of the purchase value. Such costs consist of internal costs (delays, labour time wastage, lost production, etc.) and external costs (loss of profit from lost sales, and loss of future profit due to loss of goodwill). However, 'stock outs' have economic consequences of not being able to meet an internal or external demand from the current inventory.
Inventory management is a key supply chain tool that when correctly forecast contributes to competitive advantage and sustainable business.
This course is designed to enable delegates to undertake a proactive approach to improving forecasting and avoiding errors. On completion of this course, delegates will be able to appraise a variety of tools and techniques to:
- Forecast with greater accuracy
- Recommend ways of planning and managing inventory to gain improvements in efficiency leading to more effective business processes
About Informa Connect Middle East
Informa Connect Middle East, is part of Informa, a multinational publicly listed publishing and events company.
The Middle East office was previously known as IIR Middle East, and has been established in Dubai since 1993. Informa Middle East has grown to be the largest event organiser in the region and with over 300 staff, the office runs over 450 training courses and over 40 conferences regionally on an annual basis.
The company also incorporates Informa Global Exhibitions which organises around 130 trade and consumer exhibitions in over 38 cities across the globe. Arab Health, Cityscape, Middle East Electricity and The Bride Show are some of the flag ship events.
Aside from the public training courses, conferences and exhibitions, Informa Middle East also provides in-house training to companies as well as manages events on behalf of corporate clients. Some of the past clients include NBAD, Microsoft, Etisalat, STC, Mobily, and ADNOC.
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