Set your team up for a better 2023 by improving the ways you understand, measure and control inventory.
Inventory is a key asset of every manufacturing and distribution company, but it is often overlooked or poorly managed. For many manufacturers, this leads to challenging year-end reconciliations and/or missed opportunities throughout the year.
Did your end-of-the-year inventory reconciliation reveal a lot of errors or discrepancies? Were closing activities needlessly stressful because team members weren’t following best practices throughout the year? Are you not sure why discrepancies keep cropping up?
A foundation in basic inventory management will help you control this key balance sheet item AND set you up for success with improved efficiency / reduced stress throughout the year.
In this workshop, learn best practices for how to maintain enough inventory to meet customer service levels and ensure smooth production – without letting it become a drag on your company’s capital and income.
Who Should Attend
Anyone who has a role in managing and controlling inventory: Managers, buyers and purchasers, production staff, accounting and finance staff, and those who work in distribution and warehousing.
Open to manufacturing companies/employees only.
What to Expect
(We hosted an info session on Inventory Control in the fall of 2021. Watch the webinar to get a “taste” of this 101 class and some tools you can use immediately for inventory control.)
January 24, 12pm to 4pm — Session 1.
January 25, 12pm to 4pm — Session 2.
Two 4-hour interactive online classes, in which you’ll learn proven methods to identify and measure inventory costs, and start to identify practices that you could implement to improve your operations.
- How to identify and define inventory
- Ways to classify and segment your inventory
- The basics in counting and verifying inventory
- Common control methods
- How to measure and track costs
- Different inventory measurement and reporting methods
- Different management approaches , including how to determine effective inventory levels and reorder triggers.
No more than 3 students from any one RI manufacturing company. Students will earn a certificate.
After clicking “Sign Me Up,” below, you will receive instructions on how to complete payment.
About the Trainer
Polaris MEP Project Manager Ted Kennedy has 35 years of experience within Operations and Engineering in the metalworking, toy manufacturing, and automotive manufacturing industries. He is a Lean leader with expertise in streamlining manufacturing, warehouse/distribution, retail packaging, and office processes.
Among other achievements, Ted created plant layouts for new 30,000 Sq. Ft. and 120,000 Sq. Ft. buildings and modified building layouts on three other facilities consolidating manufacturing and warehouse space by 30% to 40% using Lean tools. He also helped design a bar code system for use in manufacturing and shipping which was in use for over 15 years. He is a Six Sigma Black Belt.
After clicking “sign me up” you will be sent payment instructions. This training is for manufacturers only.
Polaris MEP is committed to offering the best business improvement programs to Rhode Island Manufacturers.
In order to achieve that goal and to justify continued U.S. Department of Commerce funding for these services, participants are asked to provide impact data and assessment. You’ll be asked for feedback through a short online survey within 1-3 days of this program and possibly again through an impartial third-party survey firm, 6-12 months after the course ends.