Tired of inventory problems that never seem to go away?
An increasing number of business leaders are resolving chronic inventory problems by thinking differently about inventory and how it is managed.
It’s called Inventory Governance. This workshop shows how to establish an Inventory Governance process to set inventory targets and identify – and correct – the root causes of inventory issues.
What Is the Inventory Governance Workshop?
This fast-paced workshop focuses on the practical. Participants leave the workshop with an implementation plan for improving Inventory Governance in their company. This plan is based on their own data and information, which enables participants to identify ideal inventory targets during the workshop.
Roles and responsibilities for proposing and approving inventory targets are also defined. Participants also learn ways to identify root causes of inventory issues and correct them.
What You Learn
The instructors have first-hand experience in establishing – and sustaining – Inventory Governance in companies prior to joining Oliver Wight. They are skilled at working with senior leaders as well as managers in setting inventory targets and solving inventory issues.
Participants will learn:
- How to develop preliminary inventory targets and test for reasonability, based on your own data and information. (A key deliverable from the workshop is inventory targets to recommend.)
- Ways to identify and correct root causes of short- and longer-term issues that cause actual inventory to be more or less than the targets.
- How to develop an implementation path for Inventory Governance that includes roles and responsibilities. (A key deliverable from the workshop is a preliminary implementation plan.)
- How to develop the framework of an Inventory Governance policy. (A draft policy is a deliverable from the workshop.)
Value of the Inventory Governance Workshop
Participants leave the workshop with a structured way to determine the optimal inventory levels that support the company’s business strategy and goals.
Companies with effective Inventory Governance realize improved operating margins and cash flow. They also increase sales revenue and market share – because product is more likely to be available to sell and ship.
Business leaders use the Inventory Governance process to set appropriate inventory targets for the long term as well. This proactive decision making positions the company with the levels of inventory needed for products at end of life as well as during product launches.
Follow-up After the Workshop
We stay engaged after the workshop by providing agreed upon support to:
- Follow up on progress in implementing inventory governance
- Provide one-on-one and small group coaching to improve the effectiveness of Inventory Governance, validate that the inventory targets are driving the desired results, and to determine the best ways to minimize slow moving and obsolete inventory
- Address change management issues, including skills and behaviors and process adaptation
- Provide executive coaching to address cross-functional alignment issues for ensuring the inventory governance policy is completed and implemented
Insights on Inventory Governance: