Inventory is expensive and difficult to manage, and yet is an essential requirement for providing great service to customers. Inventory Management provides the tools to retain enough inventory to assure high levels of customer service, while avoiding excessive inventory levels that can absorb cash and generate losses. Topics covered include inventory policies, materials planning, purchasing and the supply chain, receiving, storage, shipping, production activities, record accuracy, warehousing efficiencies, measurements, and much more. This course covers a mix of classic and advanced management techniques to help the user maintain firm control over the mix and amount of inventory.
The Nature of Inventory. Inventory Strategy. Inventory Policies. Materials Planning and Forecasting. Purchasing Activities. Inventory Receiving. Put-away and Picking. The Impact of Production on Inventory. Inventory Shipping. Obsolete Inventory. Inventory Measurements.
CPAs, CFOs, controllers, leaders and managers.
Identify the types of inventory, and the need for reorder points, safety stock, and economic order quantities. State the manner in which inventory can be incorporated into a company’s competitive strategy and the situations in which certain strategies should be employed. Identify the policies that should be used to control inventory, and the situations in which they should be used. State the types of forecasting variations that can be used, how forecasts can be incorrect, and what can be done to mitigate these effects, and more.
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $431.00
Member Price $375.00