FMM Institute (475427-W)

Penang Branch


INTRODUCTION

Inventory can be considered as being as important to an organization as blood is to the human body. If an organization is dealing with buying or manufacturing goods and sell them, obviously, the business need inventory to survive and gain competitiveness.

Inventory in majority firms is the main source of sales revenue and profit that often represents the largest recurring outlay of funds in a business. Thus, the skill and techniques used to balance the demand and supply in the inventory management become key element in the working capital cycle (or order-to-cash received cycle) in achieving the inventory management objective of ‘minimize costs while maintaining production output, quality and customer service’.

What are some of the techniques and knowledge that can be explored in order to achieve the common goal of an organization? How do organizations create and form an effective inventory and materials management?

This program will highlight the importance of inventory in the total Supply Chain Management; at the same time explore the elements involved in inventory control systems, identifying costing techniques and replenishment systems. It is structured to equip the participants with an overall view of inventory and materials management thus stimulates more effective practices in the manufacturing industries.

CONTENTS

Inventory Operations (I)

~ Fundamentals

§  About Inventory

§  Various Types of Inventory

§  Inventory Coding

Inventory Operations (II)

~ Inventory movements and costing

§  Importance of Accurate Stock Recording

§  Identifying Costs

§  Financial Implications

§  Measuring and Valuation of Inventory

Inventory Planning

~ Systems and Techniques

§  Replenishment Systems

§  ABC Analysis

§  Perpetual Inventory

Inventory Models

~ Independent Demand

§  The EOQ models

§  ROL & Safety Stock Levels

Inventory Models

~ Dependent Demand

§  Essential Information

§  MPS, APP & MRP Structure

§  ERP Vs MRP

§  EPOS / EDI

OBJECTIVES

·  Provide participants with a comprehensive understanding of inventory performance and management

·  Appreciate the importance and existence of various types of inventory in an organization

·  Examine the impact of keeping inventory on the financial health of an organization

·  Improve inventory performance through good practices and introduction of appropriate techniques

·  Introduce Kanban, JIT, VMI, DTL concepts and strategies

BENEFITS

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

·  Optimize inventories and maximizing service levels with the right methodologies and strategies

·  Make better inventory decisions and reduce holding costs

·  Improve the inventory turnover and overall performance

·  Maintain good relationship with working colleagues as well as external parties

·  Improve quality work produced and increase productivity while minimizing errors

METHODOLOGY

Practical application of tools and techniques, coaching, role play and workshop based projects, exercises and simulation.

DURATION

1 day/program

TARGERT GROUP

All those whom directly or indirectly deal with inventory and materials management in their day-to-day operation; or those who wish to attain the knowledge and techniques, aiming to understand inventory management and overall operation.

THE FACILITATOR

Ms. Cheryl Neoh has been working in Purchasing and Materials Management for more than 10 years with 5 years exposure in semiconductors industry at Multi-National Company and 5 years solid hands-on experience in setting up the whole Materials Department in SMT (PCBA / OEM) industry. She then ventured into managing a business unit by setting up a northern branch for a leading computer distributor where she acquired a great deal of experience in sales and marketing. Over the years, she had developed solid experience in the total Supply Chain Management. She had trained and developed many practitioners who are involved in Supply Chain Management in the manufacturing industries.

Ms. Cheryl Neoh has been involved in training for many years for both in-house training programs and structure / public courses. She has been actively participating in Supply Chain Management (SCM) and other management related topics. Ms. Cheryl Neoh has been engaged as a trainer in MIPMM since 1995. She was one of the trainers for Bank Pertanian in Bangi, KL. Currently Ms. Cheryl Neoh is working with FMM on their in-house training courses and she is also the certified and approved trainer for ITC UNCTAD/WTO, Purchasing and Supply Chain Management (PSCM) Modular Learning System.

Ms. Cheryl Neoh graduated from The Chartered Institute of Purchasing and Supply, U.K. She also holds a Diploma in Purchasing and Materials Management, attaining the Golden Awards from Malaysian Institute of Purchasing and Materials Management. Cheryl always believes in continuous learning and never ending improvement in life. Having said this, she is now pursuing her Master Degree (MBA) in Operations stream at Charles Sturt University, Australia to further enhance her knowledge.

ADMINISTRATIVE DETAILS

COURSE FEE RM730 FMM (Member) / RM830 (Non-Member) per participant

(The fee includes luncheon, coffee/tea breaks and notes)

DRESS CODE Office attire

REGISTRATION Participation in the programme is based on a first-come-first-served basis. Cheques made in favour of the “FMM Institute” should be forwarded on or before programme date to the FMM Institute, Penang Branch, Bandar Seberang Jaya. Participants who registered but did not attend, will be billed accordingly.

CANCELLATION There will be no refund for cancellation within 2 days prior to the programme, 50% for cancellation between 3 – 6 days and full refund for cancellation 7 days prior to the programme. Please inform in writing if you intend to cancel. A replacement can be accepted at no additional cost.

DISCLAIMER The FMM Institute reserves the right to change the facilitator, date and to vary / cancel the programme should unavoidable circumstances arise. All efforts will be taken to inform participants of the changes. Upon sending the registration form, you are deemed to have read and accepted the terms and conditions.

ENQUIRIES Ms Nazliza / Ms. Rashida

FMM Institute

No 2767, Mk 1, Lebuh Tenggiri 2,

Bandar Seberang Jaya, 13700 Seberang Perai

Tel: 04-6302052/04-6302050 Fax: 04-6302054

E-mail: /

Website:http://fmm-im.fmm.org.my (Northern Branch)

CLOSING DATE 07 January 2014

REGISTRATION FORM

Inventory Perforamance and Materials Management
15-16 January 2014
9.00 am – 5.00 pm
Training Venue:
FMM Institute, D’Piazza Mall, Penang
To : Ms Nazliza/Rashida(Fax : 04-6302054/)
FMM Institute (Penang Branch)
1. Name :______
Designation : ______
Email:______
2. Name :______
Designation : ______
Email:______
3. Name :______
Designation : ______
Email:______
4. Name :______
Designation : ______
Email:______/ Enclosed cheque / bank draft no. ______for
RM______being payment for
participant(s) made in favour of “FMM Institute”
Submitted by :
Name:______
Designation:______
Company:______
Address:______
______
______
Tel :______
Fax:______
Email:______
Membership No. : ______