140 North Maple Street, Suite 106
Corona, CA 92880
8:30 a.m. Saturday, July 13, 2013
Outdoors | Recreation,
Why You Should Attend This 1-Day Workshop
Intelligently reducing inventories always results in higher free cash flows, greater liquidity, reduced business risks, and interestingly, improved customer service levels. If inventory is smartly reduced, working capital improves simultaneous with customer service because product flows through the factory faster, with fewer bottlenecks and with smaller work-in-process (WIP) queues. Response to unique customer needs improves and supplies move from the factory to the customer quicker. To achieve these extraordinary benefits from an inventory reduction initiative, WIP reductions should take priority over raw materials and finished goods.
Though WIP inventory is usually the smallest of the three major inventory accounts (raw materials, work-in-process and finished goods), focusing on it can multiply reductions in raw and finished goods inventories. This is because it is the rate of “need” in WIP that ultimately determines the optimal raw material inventory levels… and the rate and reliability of output from WIP that determines the amount of (expensive) inventory that should be maintained in the finished goods warehouse. The significant benefits of WIP reductions will not be seen only in WIP, but will be measured in upstream (raw materials) and downstream (finished goods) inventory reductions.
This valuable 1-day Manufacturing Executive Institute 2nd Saturday - "Practical Capital Series" Workshop has been specifically designed to provide THREE Techniques to Reduce WIP Inventory Levels by MORE THAN 20% in LESS THAN 100 Days. Participants will learn the "mechanics" of the 3 techniques as well as how they can successfully implement the techniques within their specific organizations. Using lecture, illustrative case studies, participatory break-out sessions and exercises, this workshop will address:
How raw material and finished goods inventory levels are really a derivative of WIP inventory and production efficiencies.
Why WIP should be the focus, even when the goal is to reduce raw materials and finished goods inventories.
Mistakes managers often make when trying to reduce wall-to-wall inventories and how these mistakes usually lead to increases in aggregate inventory.
Three SPECIFIC techniques you can implement to dramatically reduce your WIP inventories in less than 100 days, including:
Reducing planned WIP lead-times by understanding the differential between work time and planned lead-time… how to systematically and automatically reduce planned lead-times for make items.
Reducing unnecessary inter-operational time wasters from the production process... how to identify activities that only add delay time to the production process.
Reducing production that supports unnecessary safety stock requirements… better ways to establish safety stock requirements for make items.
BONUS TECHNIQUE… how to use lot streaming to reduce unnecessary set-up activities and reduce total throughput time. The relationship between planned lead-time, lot size, safety stock and order-multiple values, and how they can be altered to reduce WIP throughput time. \nTechnical, organizational and behavioral impediments to successful and rapid deployment of these techniques will also be addressed so that participants can return to their respective companies and begin implementation of these techniques the following Monday.
Workshop Instructor: Alan G. Dunn, President of GDI Consulting & Training Company.
Come to MEI's 2nd Saturday - "Practical Capital Series" workshops & learn specific management & leadership techniques that will lead to improvements in working capital, operating efficiencies and factory productivity. Learn how to turn capital improvement theory into tangible actions to improve YOUR company's capital structure!
\nAll learning materials, breaks and lunch are included in the single low price. See the side bar for pricing and group discount information.
\nThe Manufacturing Executive Institute presents numerous workshops and webinars each month. To see listings and schedule of upcoming programs, go to www.mfgexecutive.com or call (951) 736-2114.
About MEI's 2nd Saturday - "Practical Capital Series" Workshops
The Manufacturing Executive Institute's 2nd-Saturday - "Practical Capital Series" Workshops are instructor-led 1-day programs conducted live at MEI's Corona, California Training Center on the 2nd Saturday of alternating months. These programs are designed to provide SPECIFIC and PRACTICAL techniques that focus participants on the mastery of management and technical skills that will lead to improved working capital results. Cost-of-Goods-Sold reductions, operating expense reductions, inventory reductions, accounts receivables collection improvements and supplier payment improvements are a few topic areas these workshops address. Participants will learn relevant and immediately useful skills at a reasonable price without losing valuable time from work.
\nDon't lose a valuable day at work! Come to these workshops ready to learn techniques you can apply on the job the following week. Click here to view a list of upcoming 2nd Saturday - "Practical Capital Series" Workshops.