Production Planning and Inventory Control Practice
One of the many objectives of production planning and inventory management is to avoid disruptions to production due to the lack of inventory planning and also to avoid carrying excessive stock which ties up working capital. It is essential for everyone in an organization from Schedulers/Buyers/Purchasers, Inventory Control Managers/Executives, Material Managers/Executives and anyone whose duty in one way or another includes strategic planning and inventory management practices to have a proper and correct understanding of production planning and inventory management techniques . The benefits to the employee are :
- Ability to resolve issues in the operatiions of production works.
- Understand the principles and operation of how effective production planning is carried out.
- Present solution to the causes of production delays.
- Select fundamental changes for effective control of the systems.
- Know the tools avialble for effective control.
- Correctly use the Inventory Management Tools and Techniques.
- Minimize inventory and maximize customer management.
- Accurately determine necessary inventory levels.
- Forecasting Stock Keeping Unit (SKU) Requirement.
Production Planning, Its Functions and the Effects in the 21st Century
- Reason for Implementation
- Procedure
Preparation to Build Material Requirements Planning (MRP)
- Bill of Material
- Material Requirement Planning Process
- Using MRP
Problems/Issues faced when dealing with Inventory and Planning
- How to carry out effective Group Discussion
Master Production Scheduling (MPS)
- Relationship to Production Plan
- Developing a MPS
- Using MPS in the real world
Inventory Management Tools and Techniques
- The role of Safety Stock
- Essential Calculations
- Customer Service Level Table
- The 80/20 Rule
- Determining Other Costs and its components
Forecasting Stock Keeping Unit (SKU) Requirement
- Practical Forecasting Methods
Material Requirment Planning Process
- Introduction
- Purpose of MRP
- Requirement of Basic MRP Techniques
Problems/Issues faced when dealing with Inventory and Planning and How to Control Them
- Group discussion on Documenting the problem/issue and presenting to management