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Certified in Production & Inventory Management CPIM

Course Overview

Revolutionize Supply Chain Management (SCM) by mastering demand planning and stock control. Improve forecast accuracy, maintain optimal inventory levels, and boost profitability through expense optimization. Say goodbye to shortages and excess stocks, as you emerge as a demand planner – “behind the scenes” professional, entrusted with dynamic responsibilities.

Supply Chain Management (SCM) can create a significant impact if implemented correctly. This course discusses various demand planning theories, models, and best practices, empowering you to overcome uncertainties.

Join us to become Certified in Production & Inventory Management (CPIM), implementing strategies that guarantee a continuous, cost-effective inventory flow within your organization.

Who Should Attend

  • Production and inventory management
  • Operations
  • Supply chain management
  • Procurement
  • Materials management
  • Purchasing
  • Finance and cost accounting
  • Manufacturing information systems

Course Objectives

 At the end of this course, participants will be able to:

  • State the objectives of stock management and list their impact on cost and customer service
  • Prepare proper classification of stock and use best practices for item specification and cataloguing
  • Use scientific forecasting techniques to predict demand and better manage lead times
  • Differentiate and categorize stock cost elements
  • Compute the optimum ordering quantity and determine safety stocks and reorder points

Course Content

Introduction to stock management

  • Supply chain management scope
  • Functions and objectives of supply chain management
  • Objectives of inventory planning and stock control
  • Reasons to hold inventory
  • Inventory information system considerations
  • Inventory push versus pull systems
  • Identifying inventory costs
  • Customer service in inventory management

Description and classification of inventory

  • Types of inventory
  • The inventory ABC classification ranking model
  • Uses of the ABC ranking

Forecasting demand and lead time

  • The inventory order cycle
  • Dependent versus independent demand
  • Factors affecting demand
  • Factors impacting demand forecast accuracy
  • Demand patterns
  • Time series forecasting methods
    • Seasonal demand
    • Moving average
    • Exponential smoothing
  • Measuring the accuracy of the forecast
  • Setting lead time and methods to control it

Inventory costs elements

  • Cost of item
  • Purchasing cost
  • Carrying or holding cost
  • Stock-out cost

Inventory systems

  • The Economic Order Quantity (EOQ) model
  • Dealing with quantity discounts
  • Objectives of safety stocks
  • Setting safety stocks
  • Determining the Reorder Point (ROP)

Table of Contents

Course Code DU0904 Category
Location: Dubai, UAE
Duration: 5 Days
Language: English
Cost: 15,770 SAR
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