The Effective Inventory Management Workshop is not a typical inventory management seminar. It is an intermediate-level two-day live session designed for people who want to take an aggressive, hands-on approach to dealing with their inventory challenges. Participants should have at least one year of experience working in an inventory-related area as a prerequisite

All inventory management seminars are designed to teach you how to maximize the profitability and productivity of your inventory investment. They present a series of concepts, tools, and "best practices." But after the seminar is over and participants return to their organizations, they often have difficulty implementing what has been discussed.

Before the session we supply you with a list of information to collect from your organization and computer system. During the workshop you will use your data (or alternative sample data supplied by EIM) in a series of exercises and Excel spreadsheets to:

1. Ensure that on-hand quantities in your warehouse remain accurate with cycle counting, ensuring that all material movement is properly recorded, and protecting your inventory from theft.

2. Plan warehouse organization that will minimize the cost of filling orders.

3. Accurately measure the productivity and profitability of your investment in inventory.

4. Identify products that are not contributing to your overall inventory-related goals and might be candidates for liquidation.

5. Identify and analyze possible unusual sales or usage.

6. Recognize the specific components necessary to develop a meaningful forecast of future demand for each stocked product. During this segment we will look at several popular methods of forecasting to determine the "best" method for your inventory.

7. Measure and improve forecast accuracy.

8. State how promotions, environmental factors, and special products can be incorporated into a forecast.

9. Decide whether it is better to buy from a vendor, transfer from a central warehouse, or assemble a product in-house.

10. State the effect that longer and shorter lead times have on your total inventory investment and the service you provide your customers.

11. Decide on the "right" amount of safety stock or reserve inventory for each item to balance customer service and profitability, as well as several methods for determining this quantity.

12. Determine how often you should issue replenishment orders for each source of supply (especially when vendors offer different terms for different-sized orders or you have to decide between several vendors).

13. Identify the best replenishment parameters and reorder quantity for each stocked item.

14. Determine the optimal inventory for each product (expressed as an average monetary amount and number of days' supply) compared to your current inventory.

15. Identify how much excess inventory your suppliers are forcing you to carry.

16. Determine when it is in your best interest to take advantage of special discounts, payment terms, or other incentives.

17. State how changing your business objectives will affect your inventory performance.

18. Implement a simple way to determine what product or vendor lines need the most attention from a buyer.

19. Implement the best "total performance" measurements for your investment in inventory.

Because we are dealing with your data and "live" software, we will perform a lot of "what if" analyses, and you will discover how making small adjustments to your current practices can result in big improvements. Best of all, you will discover your organization's unique potential, because you will perform all analyses with your own data!

As we proceed through the course, you will develop a list of action items to complete in the upcoming several months. During the last segment of the course, we will organize these action items into a comprehensive plan to achieve effective inventory management.

For those participants who cannot obtain the necessary data from their organizations, a sample database will be supplied. However, to achieve maximum benefit from the course, all participants should have a computer equipped with Excel® software. Participants should submit their data to EIM two weeks before the seminar (by October 14) for validation. A template for the data we will use in the seminar will be emailed upon registration. If you do not have some of this data, please contact us to see if we can provide an alternative analysis.

Jon Schreibfeder is president of Effective Inventory Management, Inc., a firm dedicated to helping manufacturers, distributors, and retailers get the most out of their investment in stock inventory. Jon literally "grew up" in a family-owned distribution business and started studying inventory management philosophies and best practices in the late 1960s. In the early 1980s, Jon went on to become a distribution industry "trouble shooter" for two major computer companies. His task was to help the computer companies' customers use their available computer tools to better manage their largest asset: inventory. Over the past 20 years, Jon has helped more than one thousand firms improve their productivity and profitability through better inventory management. He is a frequent contributor to more than a dozen industry publications and is the author of a series of books on effective inventory management, including the newly released Achieving Effective Inventory Management – 5th Edition and Guessing Right... How to Boost Inventory Forecast Accuracy, published in August, 2003 by the National Association of Wholesale Distributors.

A featured speaker at seminars and conventions throughout North America, Europe, Latin America, Asia, and the Pacific Rim, Jon has been awarded the title "Subject Matter Expert" in inventory management by the American Productivity and Quality Center. Jon is also a member of the Editorial Board of Practitioners Publishing, a leading publisher of accounting guides and textbooks. He is a regular guest lecturer in the Department of Industrial Technology at Purdue University.

"This course gave me ideas I can implement immediately and gain immediate results."

"The best seminar I have ever attended!"

"The instructor [Jon] displayed a sound proficiency in the subject matter and was able to teach it effectively."

"Your upbeat teaching style kept our whole class on their toes. Definitely recommend this seminar to any company looking to get a handle on their inventory."

"Even after attending a prior training session, reading books, and watching an inventory management video series many times, I firmly believe your instruction has been the most informative."

"Excellent seminar. I came away with some clear guidelines for the direction that our company must go to meet our long-term inventory goals."

Refund Policy: Full refund up to 30 days prior to seminar. 50% refund granted if cancellation notice received 14-30 days prior to seminar. No refund within 14 days of seminar date. Substitutions are allowed at any time, but please notify us at 972-304-3325.

Please direct any complaints to Maureen at 972-304-3325.

Effective Inventory Management, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of contributing professional education on the National Registry of CPE sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Website: www.nasba.org.

Reservations must be made on or before October 6, 2010 to receive the group rate of $159. Reservations must be made by the individual by calling the Hotel directly at 972-724-2600. Please identify yourself as being with the Effective Inventory Management Workshop at the time the reservation is made. The Hotel offers complimentary DFW Airport shuttle service.

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