Course Description
Put an end to costly write-offs, shortages, hassles and mistakes!
Dear Professional:
Conducting an error-free physical inventory is no easy task.
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
Agenda
Your Inventory Record System
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
Comments
Cancelation Policy: If you cannot attend an event, you may send someone else in your place. If that isn’t an option for you, cancellations received up to five working days before the event are refundable, minus a registration service charge ($10 for one-day events; $25 for multiple-day events). After that, cancellations are subject to the entire seminar fee, which you may apply toward a future seminar. Please note that if you don’t cancel and don’t attend, you are still responsible for payment.