Managing Inventories & Cycle Counts

Complete Seminar Details

Program Description

Anyone who thinks taking inventory is an easy job is just plain wrong.

Probably the only people who know how tough it is to do an accurate, efficient inventory are people like you who have to make sure everything runs smoothly and error-free. You know that if you’ve got inaccuracies, your department won’t be able to deliver goods to customers and that means back orders, stockpiled obsolete items, higher costs and more headaches.

It’s a tough job and a heavy-duty responsibility.

You’re the one who ends up having to deal with lost or incorrect paperwork. And it’s you that has to make the tough decisions about records reconciliation. Not to mention having to be ready to explain any problems to the accounting department, the auditors and everyone else in your company that wants materials ASAP.

Plus there’s the staffing with all its training headaches...the orders being received and shipped out while you’re trying to get the counts done...theft prevention...the extra hours and overtime … the list keeps on going.

We’ve built this seminar to help you meet these tough inventory challenges.

This day of training is packed with methods to streamline your processes and keep your warehouse running smoothly. We’ve even designed customized exercises so you can apply the principles you’re learning to fit your needs.

In one day, you’ll get a better strategy for planning, organizing and managing your inventory and cycle counts.

You’re going to head back to the warehouse with confidence and a system that will work for you. Here’s a sample of your learning day …

• Find out if cycle counts can bring up your accuracy and if they’re worth it
• Discover shortcuts that will make your counts go faster without leading to a higher rate of error
• What’s the latest in technology? Will it work for you?
• Use smart forecasting techniques, record tolerances and reconciliation methods that will keep inventory controls efficient
• Manage your staff more effectively through the inventory process

What You’ll Learn

• Get the benefit of higher quantity orders with lower costs … find out more about JIT
• Reduce buffer stock ... Don’t let inventory tie up cash that your company could be using elsewhere
• Develop joint replenishment systems to maximize your purchasing power
• Save money & warehouse space ...

2. Stop the records nightmare!

• Find the causes of inventory problems with paper or electronic trails
• Develop paperwork methods that other departments will actually use correctly
• Track even the smallest (and hardest-to-count) units
• Get a tracking system that really works...

3. You’ll improve your company’s customer service

• Use inventory forecasting – put an end to inventory write-offs and carry the right amount of in-demand items
• No more problems with on-time delivery and avoid the complaints (and costs) that come with rush orders
• Customer orders are filled more quickly with less chance of error when your staff uses better locator maps
• Boost your company’s bottom line...

4. End the people hassles and achieve staff efficiency

• Train and use staff more effectively during inventories and cycle counts
• Maintain smooth relations between your department, accounting, customer service and production management
• Develop a scheduling system so that your employees aren’t trying to do two things at once and daily business isn’t disrupted
• Less stressed employees are more productive employees...

5. Better skills mean less stress for you

• No more surprises at inventory time
• Have answers ready for auditors and accounting
• Deal with the millions of details and still get the job done faster
• Get the credit you deserve for a job well done.

Workshop Agenda

• Assess your inventory management system to find the holes
• The basic elements of a rock-solid inventory recordkeeping system
• Avoid “paper” and use reliable electronic systems
• The most important information that should be on every inventory tag
• Easy formulas to help you decide how often to schedule counts
• JIT: Will this system work for you?
• Improve your forecasting and get what you want when you want it

Preparing for the Count

• Getting your area in shape for the big count: tips for keeping a clean facility
• Decide on how much staff you’ll really need
• Must-have checklists to keep on hand before you start the count
• When a multiple count approach is best
• Expert tips for preventing theft
• Training staff (even those that have been there for years)
• Create locator maps that keep on working all year long
• Test counts and blind counts … Are they a good use of staff time?
• Inventory models and applying them to your situation

Cycle Counts: Are They Right for You?

• ABC Analysis or the Geographic method: classification methods that tell you what to count and how often
• How cycle counts can boost your inventory efficiency
• What should be counted in a cycle count?
• 4 ways to decide whether your cycle counts should replace the annual inventory
• Ranking your inventory and the 80/20 rule
• Surefire strategies to make cycle counts go quick and easy

Conduct Your Physical Inventory Efficiently and Error-Free

• Which products need to be counted most often
• How to track in-transit items or shipments that arrive during the count
• Motivate staff and keep the stress level on low
• When should you be counting WIP inventory and when to leave it alone
• The 4-Corner method and other counting strategies
• Pallet tagging for bulk merchandising
• 5 important questions to ask when you are considering hiring an outside vendor
• Keeping staff organized and on-task during the event

Getting It Right: Managing the Problems

• Best ways to handle small (but numerous) units
• Keeping your teams working together
• The most common causes of errors and how to handle them
• Dealing with “The Lost Product” and making records adjustments
• How much error is acceptable and find out how to track variances
• Improving recordkeeping methods and getting cooperation from other departments
• When do you know it’s time for a recount and who should do it
• What the auditors are looking for
• The final inventory report: send accounting a report that’s easy to understand

Sponsor Background:

Besides offering a full range of training skills to all professional levels through our one-day and two-day seminars and conferences, we also offer highly-acclaimed books, audiocassette, videocassette and CD-ROM training products for individuals, teams, departments or corporate reference libraries.

Since 1991, our affiliation with Rockhurst University, a highly acclaimed four-year university, ensures our commitment to providing lifelong continuous-learning opportunities. We're certain the combination of continuing education with academic excellence gives you the best and most innovative approach to fulfill your continuing education needs.

Cancellation Policy:

If you cannot attend a workshop for which you are registered, you may send a substitute or receive a credit memo toward a future workshop. If you cancel your registration up to five business days before the workshop, your registration fee will be refunded less a $10 enrollment charge.