Home › Inventory Management (Purchasing, Material and Stock) for Profit Improvement Strategies

Inventory Management (Purchasing, Material and Stock) for Profit Improvement Strategies

INTRODUCTION

Do you have your inventory "under control"? Do you know how you can efficiently manage your inventory cost to boost your business profit significantly? Here's your chance to be more equipped on how to control inventory holding plus manage inventory cost effectively and efficiently.

Download Brochure from Here

Training Date :

This programme is only for In House training only.

Please contact our office at +603-55231819 or email to sales@wanfahprosper.com for a quotation.

 

 

LEARNING OUTCOMES

  • Identify key issues affecting your business
  • -  Make awareness of cost reductions for all level of management
  • -  Identify areas to improve the company cashflow
  • -  How to turn waste into profit
  • -  Cost savings through strategic purchasing functionsAt the end of the programme, participants should be able to identify grey areas which is affecting the company cashflow, elimination of waste and more efficient workflow.

WHO SHOULD ATTEND

  • Purchasing & Planning Professionals
  • Inventory Controllers
  • Material Planners
  • Warehouse Executives and Managers
  • Accounts Executives / Managers / Accountants
  • Production Executives and Managers
  • Logistic Executives and Managers
  • Personnel who want to develop Effective Inventory Management and Control Skills
  • Budget holders who are responsible for their respective cost

METHODOLODY

This “Inventory Management for Profit Improvement Strategy” training's methodology is a combination of expert input, lecture, case study, group discussions and presentations.

COURSE CONTENT

Module 1 : INVENTORY COST MANAGEMENT For PROFIT IMPROVEMENT STRATEGIES

Benefits of a Solid Inventory Management

  • Smoother production flow
  • Lower inventories and thus less capital tied up
  • Greater customer satisfaction through higher service levels
  • Reduced carrying costs and other expenses

Inventory is a Business Cost

  • How inventory impact business operation, cashflow and profit.

Why Management focus in Inventory Reduction?

  • How overstocking and understocking inventories undermined the bottomline.

Case Study: XYZ Sdn Bhd

  • Based on real life case study of a multinational company.

Major Cost Management Areas

  • Types of inventories
  • Inventory Turnover
  • Inventory Cost
  • Group Discussion

Case Study (Real Life): Happy Precision Sdn bhd

  • Root cause of high inventory
  • How to detect and prevent high inventory
  • Cashflow and Profit Improvement exercise through effective inventory control
  • Group Discussion

Inventory Costs

  • Type of inventory costs
  • How to compute inventory costs

Cost Reduction Exercise - Inventory Cost

  • focus on actions in dealing with forecast, wastage, processing, movement, storing of raw materials and etc.

Module 2 MATERIAL COST MANAGEMENT AND PROFIT IMPROVEMENT STRATEGIES

  • Relationships between Throughput, Inventory, Operating Expenses and Profit .
  • Managing movement of materials
  • Real life case study

Module 3 PURCHASING COST MANAGEMENT AND PROFIT IMPROVEMENT STRATEGIES

  • Purchasing cost management
  • Uncovering profit improvement in purchasing functions
  • Purchasing versus Suppliers Relationship
  • Various Profit Improvement Strategies in Purchasing
  • Cost Reduction Exercise in Purchasing
  • Real life scenario

FACILITATOR

Mr. Arthur Tay 

Associate Member of Chartered Management Accountant – ACMA (UK)
Chartered Accountant (Malaysia) – CA (Malaysia)
Chartered Global Management Accountant – CGMA
Competent Toastmaster – CTM
Competent Leader – CL

Mr. Arthur Tay has more than 30 years of combined working experience from sectors as diverse as manufacturing, commerce and the service industry. Mr Tay has held several positions in his career and has been with several leading companies – KFC Bhd, Diners Club International, GE USA where he held senior management position.

Other than the Finance, Auditing, Taxation and General Management, he has gathered vast experience in matters related to Manufacturing cost management, product costing and conducting cost reduction programmes.

Arthur is a Chartered Accountant by profession. He is an associate member (ACMA) of the Chartered Institute of Management Accountants (CIMA), UK and a member (CA) of the Malaysian Institute of Accountants (MIA).

He is a past President of CIMA Johor. He is also the past President of CIMA JB Toastmasters Club.

Arthur is also a Certified GST Consultant / Trainer having completed the Royal Malaysian Customs Department GST training and passed its examination. He is a prolific facilitator/trainer for GST workshops and as well as in-house training for corporations. He is also a regular speakers in the seminars organized by the public and private organizations.

 

CANCELLATION / TRANSFER

Upon registering, participant(s) are considered successfully enrolled in the event.  Written cancellations / transfer notice (substitution or to later dates) received :

  • More than ten (10) working days before the event, a refund (less administrative charge of 15%) will be made.
  • Ten (10) working days or less before the event, no refund will be made.
  • For no show on the day of the event, full payment is required. If you cannot attend the event, you can nominate a substitute at any time without payment of an administration fee.
  • A full (100%) refund may be granted if the course is cancelled by Wanfah Prosper PLT (WFP). WFP reserves the right to postpone or cancel the event and / or change facilitator at any time should circumstances beyond its control arises. WFP also reserve the right to make alternative arrangements without prior notice should it be necessary to do so.

Payment

Please make cheque payable / direct credit to :WANFAH PROSPER PLT

Accounts Number : 3812930508

Bank : Public Bank Berhad

DATA PROTECTION

Personal Data is gathered in accordance with the Personal Data Protection Act 2010 (Act 709)