Balancing Act: Advanced Inventory Optimization Techniques
Join us as we dive into the world of Inventory Optimization Strategies. This session is designed to equip professionals with advanced techniques to strike the perfect balance between cost, service levels, and working capital. We’ll explore the intricacies of inventory management, focusing on the optimization of safety stock levels to ensure service continuity while minimizing excess costs.
Key discussion points will include:
- Safety Stock Strategies: How to calculate and maintain the right amount of safety stock to buffer against lead time variability.
- Lead Time Analysis: Understanding the implications of lead time variability on inventory levels and how to mitigate its impact.
- Dynamic Replenishment Models: Implementing dynamic replenishment models to respond to real-time demand changes and maintain optimal inventory levels.
- Participants will leave with actionable insights on how to refine their inventory management practices, enhance their organization’s operational efficiency, and ultimately drive profitability. Whether you’re a supply chain novice or a seasoned professional, this session will provide valuable perspectives on navigating the complexities of inventory optimization.
Learning Objectives:
- Optimize Safety Stock: Participants will learn how to calculate and maintain optimal safety stock levels to buffer against lead time variability without incurring excess costs.
- Analyze and Mitigate Lead Time Variability: Attendees will gain an understanding of lead time variability’s impact on inventory levels and discover strategies to mitigate this variability to maintain service levels.
- Implement Dynamic Replenishment: Learners will explore dynamic replenishment models that respond to real-time demand changes, ensuring inventory levels are optimized to meet service requirements while controlling working capital.
Speakers: Jeffrey Porter, Jeff Woodmansee
Type: Breakout Session
Ability Level: 401 – Specialized
Primary Product: Business Central/NAV
Track: Inventory, Purchasing, Supply Chain
Session Objective for Attendee: New To, Optimizing
