Inventory control in an ever-changing world
Program for upcoming Process Network Meeting
“How to reduce working capital?”, “How to allocate stocks in case of scarcity?”, “How to manage safety stocks?“. Critical customers demand high service rates resulting in higher stocks, at the same time working capital reduction is on everyone’s agenda. Supply chain professionals throughout the process industry are all faced with the challenge of managing inventories across their supply chain. And while inventory has always been a safe buffer in a complex market environment, is it still a smart solution in today’s increasingly dynamic market?
Inventories are symptoms of inefficiencies of the overall supply chain and its planning processes. On the short-term, inventory management and control is key to stay at desired levels. For the medium/long-term improvement projects in planning aim to reduce the overall working capital without loss on service. But what are the best practices to implement this? How to keep these policies up-to-date in an ever-changing environment? And how to effectively deploy inventory strategies? On March 20th 2013 EyeOn will host a Process Industry network meeting where we will discuss exactly these topics. Please find below the program of the day;
- 9.00 - 9.30 Welcome at Croy Castle
- 9.30 – 10.00 Introduction and feedback on interview results by Eric Eggenhuizen
In preparation of this event we have conducted interviews with network participants to benchmark the complexity and maturity of inventory management processes. Our main findings will be presented and discussed in the group.
- 10.00 – 11.00 Inventory Control in the process industry by Professor Ton de Kok
Professor Ton de Kok is head of the capacity group Operations Planning, Accounting, and Control at the Technical University Eindhoven. Professor de Kok will discuss inventory control in the process industry and the relationship to process scheduling and storage constraints.
- 11.00 – 11.15 Break
- 11.15 – 12.15 Electrolux Forecast Outsourcing case by Joost Rongen
Electrolux is a global leader in household appliances and appliances for professional use. Electrolux has implemented a new demand planning process with state-of-the-art methods. We will present the approach taken and will explain how they outsourced the monthly forecast initialization run to update SAP APO forecast parameters.
- 12.15 – 13.45 Lunch
- 13.45 – 14.45 Bonar Yarns Inventory optimization case by Stijn Rutjes
Bonar Yarns is a world leading specialist group specialized in technical textiles for a wide range of niche industrial products. Bonar Yarns has improved their inventory management by use of quantitative models for inventory optimization and seasonal stock building. We will share the approach that was taken and the learnings of the project.
- 14.45 – 15.00 Break
- 15.00 – 16.00 The Inventory Game by Ieke le Blanc
Managing inventory control parameters in a dynamic business environment is key to stay in control of inventories while safeguarding service levels. The mathematics behind inventory control parameters are typically seen as boring and complicated. By means of a short game, we’d like to guide you the way in a simple manner. We start off easy and will raise the bar in different rounds, revealing new insights. We challenge you to beat the experts of EyeOn. Will you take on the challenge?
- 16.00 – 16.30 Wrap-up
For more information please contact Noëlle Langenhuijzen (firstname.lastname@example.org)