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Who should attend Best Practices for Managing Inventories and Cycle Counts
Inventory Managers
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Best Practices for Managing Inventories and Cycle Counts  

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Seminar Summary:

Make inventories and cycle counts work for you and your organization (see full course description)

 
 

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Training Course Syllabus:


Best Practices for Managing Inventories and Cycle Counts Seminar

In Best Practices for Managing Inventories and Cycle Counts, you'll learn...

  • How to use specific techniques that will actually improve speed and accuracy when counting inventory
  • How to prepare for the count using time-saving tools, formulas and checklists—available only here!
  • How to create a location system so precise, you’ll be able to pinpoint even the smallest units—instantly
  • To never take another physical inventory—learn how cycle counts can work for you
  • And much more!

A thoroughly up-to-date, one-day workshop that will help you run smooth and accurate inventories … improve record accuracy … and eliminate write-offs, shortages, rush orders and other profitability killers.

WORKSHOP AGENDA

Program hours: 9:00 am – 4:00 pm

Session 1: Take a close look at your existing system

  • How to reduce forecasting errors—it’s easier than you think
  • Know your inventory system’s strengths—and weaknesses
  • Go paperless! Learn about electronic systems you can trust
  • Questions to ask yourself before implementing JIT
  • Learn the characteristics all successful inventory record-keeping systems have in common

Session 2: Planning—the key to an error-free count

  • The pros and cons of blind counts
  • The absolute best ways to speed up cycle counts
  • When using multiple-count approaches makes sense
  • Checklists that will save you time and headaches
  • Clutter, lack of organization, trash—clean up your “house” before the count
  • Designing a simple and consistent location system
  • Getting around the problems involved with count tags
  • The best time to cycle count—and why
  • Dealing with multiple storage locations and the headaches they cause
  • How often should you count? Now it’s easy to decide
  • Selecting which items to count (Hint: Remember your goal)

Session 3: Set up and run your cycle count program

  • Will cycle counting solve your problems?
  • ABC vs. Geographic: Which classification method is best?
  • How the 80/20 rule applies to your inventory
  • Never take another physical inventory—find out how
  • Know your cycle-counting methods—and their drawbacks
  • Pitfalls to avoid when ranking product
  • The basic steps in a smooth, stress-free and accurate cycle count

Session 4: Conduct headache-free physical inventories

  • Dealing with the challenge of WIP inventory
    Overcome your biggest stressors when conducting a wall-to-wall inventory
  • Get a firm grip on internal tracking with pallet tags
  • Thinking about hiring an outside firm to count your inventory? Here’s advice you can use
  • The unique accuracy issues surrounding in-transit quantities
  • The only way to deal with substitutions
  • Reporting: How to keep others—especially higher-ups—informed of your progress

Session 5: Manage people issues

  • How to not get caught off guard by the auditors
  • Training employees on how to do counts the right way
  • The most effective people to designate as cycle counters
  • Down with employee theft! Ways to beef up security now
  • Tips for getting employees involved and thinking like a team
  • Lack of concentration—are your counters guilty?
  • Minimizing the things that cause the most stress on count day

Session 6: Troubleshoot and overcome challenges

  • Resolving inaccuracies: Look at these 5 areas first
  • Tighten record-keeping procedures—and get other departments to adhere to them
  • How to know when a re-count is necessary
  • Evaluating and reconciling variances
  • Where did it go? Handling lost inventory
  • Understanding errors—the neglected first step in reducing them
  • Be aware of the potential negative effects of adjustments
  • What should your accuracy be? A simple way to answer an important question

CREDITS

CPE Credits: 6

Seminar Training Time:

Seminar Check-In:  8:30AM  Seminar Program:  9:00AM - 4:00PM
 

Seminar Summary:

Make inventories and cycle counts work for you and your organization (see full course description)

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