Focus Workshop - Inventory Accuracy

November 11, 2017
8:00 AM - 4:00 PM

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Cambridge Hotel & Conference Centre
700 Hespeler Road
Cambridge, ON N3H 5L8
http://www.cambridgehotel.ca
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Inventory Accuracy

Accurate inventory records are the foundation of a good ERP system. The effectiveness of the organization increases dramatically with inventory accuracy. The other foundations of a good ERP system are accurate bills of materials, a realistic master schedule, and people who know what they are doing – they know how to use this information.

This Inventory Accuracy workshop will focus on the first foundation of a good ERP system – accurate inventory records. It is not enough to have a good idea of the status of your inventory. Important decisions and actions are based on the accuracy of these records. This workshop will define Inventory Accuracy, as a culture within an organization, provide the steps to achieving and maintaining Inventory Accuracy, and provide tools in eliminating the root causes of inventory errors.

Topics Discussed

  • Defining inventory accuracy
    • What it is, and is not
    • Benefits of inventory accuracy
  • 5 steps to inventory accuracy
  • Cycle counting
    • Advantages and disadvantages
    • Cycle counting methods
    • Types of cycle counts
  • Control group cycle counting
  • Preparing for cycle counting
    • What to count when
    • Count frequency
    • Cut-off control
    • Performing a cycle count
    • Counting WIP
  • Working with cycle count results
    • Variances
    • Recounts
    • Common inventory errors
    • Publishing results
  • Implementing cycle counting
    • Counting all inventory
    • Implementation strategies
    • Eliminating physical inventory
  • Structured problem solving for inventory accuracy

Potential Audience

This workshop may be of interest to: all office personnel, production supervisors, team leads, material handlers, all levels of management

Prerequisite(s)

A general understanding of manufacturing is preferred.

Materials

Participant guides will be provided.

Recommended reading (optional – will not be used during the workshop):

  • Introduction to Materials Management, 7th edition Arnold, Chapman, Clive
  • APICS Dictionary, 14th edition

Both books are available for purchase through the chapter.

Information

For more information, please contact education@apicsogv.org.