Sales and Operations Planning (S&OP) - Inventory Management
Join UWEBC member companies to discuss factors that contribute to setting - and achieving - inventory management strategies for your supply chain.
- 11:00 AM
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Description
Many companies have experienced both inventory extremes of "too much" and "too little" - and the results of the "bullwhip effect" - in recent years since the pandemic. As demand spiked, inventories ran lean ("too little"), and product was unavailable. In the 12 months that followed, safety stock grew past customer demand, resulting in bloated inventories and offsite storage needs ("too much"). As the excess inventory of 2023-2024 recedes, companies are rethinking their optimal inventory position somewhere in between these extremes and in some cases defining a new "just right".
Join fellow UWEBC members to discuss what is driving changes in inventory management strategies, and how companies are determining and executing these changes.
Key Learning Outcomes:- Enhanced Understanding of Inventory Control Techniques – Participants will discuss different inventory management strategies such as Just-in-Time (JIT), Economic Order Quantity (EOQ), ABC analysis, and safety stock calculations to optimize stock levels and reduce carrying costs.
- Improved Problem-Solving and Decision-Making Skills – Through peer discussions, participants will develop critical thinking skills and strategies to identify inventory challenges, analyze data, and implement effective solutions for minimizing stockouts or overstocking.
- Practical Insights from Real-World Applications – By sharing experiences and best practices, participants will gain practical knowledge on how to apply inventory management techniques in various business settings, improving efficiency and reducing waste.
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Additional Information
Location: ZoomContact: Events Team, events@uwebc.wisc.edu