The COVID-19 pandemic and related supply chain issues demonstrate the importance of effective inventory management, control, and analysis of this business lifeline. Inventory management is all about having the right items on hand at the right time to meet customer demand while controlling costs and minimizing waste and loss.
DESIGNED FOR
Accounting and auditing practitioners at all levels
BENEFITS
- Identify how effective inventory management procedures can affect internal controls over financial reporting in general and inventory in particular
- Identify the differences between inventory management vs. inventory control
- Identify inventory analysis methods and KPIs that are most effective, understandable, and can be effectively applied
- Identify the synergies between inventory management and supply chain management
- Use real-time data analytics to make decisions that can create a more customer-centric business model and minimize costs while boosting efficiency
- Discover from an inventory perspective, how becoming more data-driven allows businesses to make better demand forecasts, move toward just-in-time inventory replenishment and get and provide near-real-time updates on where supplies or shipments are and when they'll arrive at their destinations
- Identify inventory management trends for retailers, warehouses, and the optimization of the supply chain
HIGHLIGHTS
- Inventory management vs. inventory control
- Inventory analysis methods and KPIs
- Top inventory management trends
- Inventory analysis: methods and KPIs
- Inventory management trends for retailers
- Inventory management and supply chain management
- Top trends in warehouse management
- Supply chain inventory optimization
COURSE LEVEL
Intermediate
ADVANCE PREPARATION
None