Live Training: Inventory Optimization

Nicolas Vandeput launches his first public Live Training

Objectives

By the end of the training, you will be able to…

  • Avoid the most common pitfalls of inventory optimization
  • Explain the different types of service levels
  • Assess your supply chain maturity level
  • Set safety stock targets for your company
  • Optimize inventory policies to maximize profits
  • Optimize inventory policies across a global, multi-layer network
  • Identify the bullwhip effect and take appropriate actions to reduce/remove it
  • Identify and classify the five main inventory costs, explain how they impact optimal inventory levels
  • Identify and segment actual inventory in 9 subcategories

For whom is this training?

  • Demand planners, supply planners, inventory managers, supply chain analysts, and supply chain scientists who want to learn how to optimize inventory.
  • Supply chain managers (S&OP managers, Project leaders, IT project leaders) who want to understand how to optimize a supply chain or get a better understanding of inventory optimization (before setting up a major project/initiative/software implementation).
  • Data scientists who want to learn how they can use their quantitative skills to optimize supply chains

Methodology

Seven 2-hours online live sessions will be organized by teams of 8 to 10 participants (maximum of 12). Participants will engage in multiple discussions and debates, sharing ideas and experiences.

On top of these discussions, participants will have to answer frequent online questions using wooclap (around 80 questions over seven sessions). In addition, multiple DIY exercises will be done, including a short business game.

Certification

A certificate will be provided if 60% of the wooclap questions are correctly answered.

Calendar

Sessions will be held twice a week over four weeks in September and October.

  • Tuesday 21/09 and Thursday 23/09 (Sessions 1 & 2)
  • Tuesday 28/09 and Thursday 30/09 (Sessions 3 & 4)
  • Tuesday 05/10 and Thursday 07/10 (Sessions 5 & 6)
  • Tuesday 12/10 (Backup)

Contents

Session 1 [2h] – Intro

  • Intro
    • Why do we need inventory?
    • Why do we limit inventory?
  • Inventory Policies
    • Continuous review: pro & con
    • Periodic review: pro & con
    • Periodic review and fixed order quantity: pro & con

Session 2 [2h] – Inventory Optimization Framework

  • Costs
    • Purchasing
    • Holding
    • Transaction
    • Shortage
    • Expiration
    • Inventory Segmentation
    • Inventory Optimization

Session 3 [2h] – Deterministic IO

  • EOQ (+ DIY)

Session 4 [2h] – Stochastic IO #1

  • Service level definitions (+ DIY)
  • Newsvendor / probabilistic inventory optimization (+ DIY)

Session 5 [2h] – Stochastic IO #2

  • Safety stock
  • Risk-horizon
  • Optimal service level (newsvendor, continuous, practitioner wisdom)

Session 6 [2h] – Multi-Echelon Inventory Optimization

  • Multi-Echelon supply chains
  • Bullwhip effect
  • E2E collaboration
  • MEIO optimization

Session 7 [2h] – Buffer

  • Buffer
  • Inventory Maturity Self-Assessment (Process, Performance, Technology, Skills, Benchmark)

Packages and Budgets

TrainingTraining & CoachingTraining, Coaching & Fresh ConnectionInternal Company Training
Content7 live sessions + pdf7 live sessions + pdf7 live sessions + pdf7 live sessions + pdf
CertificationYes, with online evaluationYes, with online evaluationYes, with online evaluationYes, with online evaluation
CoachingNoneTwo 1-to-1 coachings3 sessions of team coaching3 sessions of team coaching
Business GamesBeergameBeergameBeergame

The Fresh Connection (by teams of 4)

Beergame
BonusPrinted copy of Inventory Optimization: Models & SimulationsPrinted copy of Inventory Optimization: Models & SimulationsPrinted copy of Inventory Optimization: Models & SimulationsPrinted copy of Inventory Optimization: Models & Simulations
Pricing997,- €1.497,- €Please request quote on the contact page.8-12 participants

7.250,- €

Discounts

We are offering discounts for the following cases:

  • participants from Africa & Middle East (excl. Dubai, Saudi Arabia), Central America, South America, Asia (excl. Japan, South Korea, Singapore, Australia, and New Zealand).
  • 2 or more participants from the same company.

If this applies to you, please contact us through the contact form.

Trainer

Live Training - Inventory Optimization

Nicolas Vandeput is a supply chain data scientist specialized in demand forecasting and inventory optimization. He founded his consultancy company SupChains in 2016 and co-founded SKU Science — a demand forecasting platform — in 2018. Passionate about education, Nicolas is both an avid learner and enjoys teaching at universities: he has taught forecasting and inventory optimization to master students since 2014 in Brussels, Belgium. Since 2020 he is also teaching both subjects at CentraleSupelec, Paris, France. He published Data Science for Supply Chain Forecasting in 2018 (2nd edition in 2021) and Inventory Optimization: Models and Simulations in 2020.

Session starts on 21/09.