Inventory is a current asset to a firm. Carrying inventory comes with a certain degree of risk. This risk is a component of the cost of carrying inventory. When a company stocks items in the warehouse there is always the risk that the items may fall in real value during the period they are stored. If a company stored parts for their work centers or equipment, the parts in the warehouse could be worth far less than the price that was originally paid and any losses, excess, obsolete and miss-managed inventory means a reduction in the company equity.
When companies are looking to reduce costs, a great many times they ignore the inventory sitting in their warehouses and the cost of carrying that inventory. It is important for businesses to carefully examine all the costs of carrying inventory and determine where they can make changes to reduce that cost and help with the company’s bottom line.
The purpose of this seminar is to:
This PetroKnowledge training course is suitable for a wide range of professionals but will greatly benefit:
Evaluating Inventory Performance
Inventory Improvements
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
This training course is also part of the 10-day titles:
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