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Inventory Management

Published by SIMTech, 2020-02-12 22:11:56

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Inventory Management (42 hours) Skills Course Reference Number: CRS-Q-0033817-PRE Effective and efficient inventory management is key to all kinds of businesses. Too much or insufficient inventory can adversely impact the profitability of a company. The essence of inventory management is to decide when, where and how much inventory should be kept for which customer, in order to balance the trade-off between costs and service level. This course is tailor-made for companies to manage their inventory effectively and efficiently. The course covers the fundamental concepts, models and principles of inventory management. Through various industry cases and hands-on exercises, the course equips the participants with knowledge, techniques and skills vital for inventory management. Why This Course • Designed specifically based on local industry demand • Highly practical and intensive • Latest knowledge and up-to-date technology • Case studies highlighting industrial application • Expert trainers in the field with industrial experience Who Should Attend This module is designed for Supply Chain Management such as supply chain managers, purchasing managers, sales managers and warehouse managers and other professionals involved in planning, inventory management, procurement, and materials management from Precision Engineering, Electronics, Aerospace, Automotive, Retail, Food & Beverage as well as services industries. Upon Completion of this Course Electronic certificates (e-Certs) will be issued by SkillsFuture Singapore (SSG) to participants who have attended and attained competency in the Singapore Skills Framework training modules. When & Where Please visit our website at www.a-star.edu.sg/SIMTech/KTO for the course schedule. Training Venue: Singapore Institute of Manufacturing Technology 2 Fusionopolis Way, Innovis, Level 8, Singapore 138634

What You Will Learn Fundamental Concepts, Models, Principles of Inventory Management • L ot sizing models with decision rules • Deterministic inventory models with optimal decision rules • P robabilistic inventory models with optimal decision rules • D ynamic programming in inventory management • C ase studies and hands-on exercises Optimal Demand Forecasting and Inventory Network Optimisation • Optimal demand forecast and intelligent forecasting system • Independent and dependent demand inventory systems • Inventory network planning and optimisation • Case studies and hands-on exercises About the Course Leaders Dr Yuan Xue Ming is a Research Scientist from the Singapore Institute of Manufacturing Technology (SIMTech), A*STAR with more than 20 years’ academic and industrial experience in Supply Chain Management, Predictive Analytics, and Stochastic Models and Algorithms. He has held various positions in China, France, Hong Kong and Singapore. He was appointed as an Associate Professor of Chinese Academy of Sciences in 1994, and an Adjunct Associate Professor of the National University of Singapore in 2007. He has been teaching this Inventory Management module since 2009. He has also been teaching Logistics and Supply Chain Management Course and Inventory Management Course for both Undergraduate and Postgraduate levels at the National University of Singapore. Dr Ng Huey Yuen is a Research Scientist from the Singapore Institute of Manufacturing Technology (SIMTech), A*STAR with technical knowledge in inventory management and business model innovation. He is an ACTA-certified trainer, and the first inventor of the Digital Transformation & Innovation™ (DTI™) Methodology. He holds a PhD in Engineering (Manufacturing) from the University of Cambridge, and a BEng (Hons.) in Electrical & Electronics Engineering from Imperial College London. He was awarded the National Science Scholarships in 2008 and 2012. Course Fee and Funding • The course fee for this module is S$3,000 before SkillsFuture funding & GST. • All Singaporeans and Permanent Residents aged 21 years and above can enjoy SkillsFuture funding of up to 70% of the course fee. • Singaporean or Permanent Resident employees fully sponsored by SMEs can enjoy SkillsFuture funding support of up to 90% of the course fee under the Enhanced Training Support for Small & Medium Enterprises (SMEs) scheme, subject to eligibility criteria. • Singaporeans aged 40 years and above can enjoy SkillsFuture funding of up to 90% of the course fee under the Mid-career Enhanced Subsidy (MCES). • Singaporeans aged 35 years and above with earnings not more than S$2,000 per month can enjoy SkillsFuture funding for up to 95% of the course fee under the Workfare Training Support (WTS) scheme. • Singaporeans aged 25 years old and above are eligible for SkillsFuture Credit which can be used to offset course fees (for self-sponsored registrations only). For more information about the funding, please visit SkillsFuture Singapore website at www.ssg.gov.sg Singapore Institute of Manufacturing Technology For enquiries, please contact: 2 Fusionopolis Way, Innovis, #08-04, Singapore 138634 Dr Yuan Xue Ming Tel: +65 6590 3193 | Email: [email protected] Email: [email protected] Website: www.a-star.edu.sg/SIMTech/KTO 03/2020


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