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Maintaining excess inventory is expensive; however, insufficient inventory can turn away valuable customers and even stop production. This puts your organization in the middle of a dangerous balancing act. 

This program gives you the essentials of inventory management and useful decision making models you can apply to better manage inventory in your organization. You’ll have the opportunity to examine the distinction between independent and dependent demand inventory (MRP – Material Requirements Planning) and will come away from the program equipped with useful methods for controlling inventories in your area.

Managing inventory is part of the larger practice of supply chain management, which has been widely adopted in recent years by companies worldwide.  Your company is as strong as the weakest link in it's supply chain.  Today, competition is supply chain against supply chain, rather than company against company.  In this seminar, you will learn the basics of supply chain and how to mitigate problems that play out in a simulated environment through the widely recognized MIT "Beer Game" which helps illustrate critical supply chain concepts.

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