September 15, 2021 @ 10:00 am – October 6, 2021 @ 12:00 pm

Supply Chain Management for Small Businesses – Webinar:   September 15, 22 , 29 & October 6 , 2021  ~  10am to 12pm

There will be two workshops, each with two sessions,  for a total of 8 hours of instruction and interactive exercises.

Workshop 1: Introduction to Inventory Management

Inventory management refers to the process of ordering, storing, and using a company’s inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing such items.

September 15:   Part A: Fundamentals of Inventory Management (2 hours) 

• Define inventory management • Define inventory management objectives • Describe the different classes of inventory • Identify the different levels of inventory management

September 22:  Part B: Purpose and Function of Inventory (2 hours)

• Explain why companies carry inventory • Define the five functions of inventory and describe their use • Describe the purpose of decoupling inventories • Detail the components of inventory decision making • Advanced Topics: Use a simple formula to estimate inventory throughput • Define the elements of inventory cost • Understand and calculate inventory carrying costs • Define the elements of manufacturing and purchasing costs

Workshop 2: Introduction to Inventory Management

September 29:  Part A: Inventory Replenishment Management (2 hours)
• Explain the basic functions of statistical inventory management • Understand the difference between independent and dependent demand • Define the theory of inventory replenishment management • Describe the difference between continuous and periodic inventory review • Define the seven inventory replenishment methods
October 6:  Part B: Inventory Management Case Study (2 hours)
• Review of a case study to allow students to apply what they have learned in our lectures and readings to solve a supply chain problem in a highly realistic simulation.
Instructor: St. Claire Gerald (APICS Master Instructor, CSCP)   Principal Consultant for Harambee Logistics Solutions, specializing in Global Supply Chain certification and Supply Chain Management
SBDC at William Paterson University