What is it all about?

The seminar basically covers forecasting and demand management, fundamentals of inventory management, replenishment order quantities and independent demand ordering systems.

Topics include:

·    Types of inventories. Periodic and perpetual inventory system. Using LIFO, FIFO, Average, LCM to determine cost of goods sold and ending inventory under periodic system. Valuing inventories at end of year. Preparing provisions.

·    Determining cost of goods sold and ending inventory under perpetual system. Calculating inventory turnover ratios and the average age of inventory.

·    Economic Order Quantity: how much and when to order. Safety stock. Reorder point setting. Determining carrying and ordering costs.

·    Notes receivable, promissory notes. Nature of interest. Accounting for notes receivable. Discounting notes receivable. Dishonored notes.

·    Credit terms. Cash discounts. Trade discounts. Discounts allowed and discounts received. Allowance for doubtful accounts. Computing uncollectible accounts. Recovery of an account receivable previously written off.

·    Notes payable issued to banks and suppliers. Monitoring accounts receivables. Accounts receivable turnover. Average collection period.

Is it for me?

This seminar has been designed for those employees in the supply chain that manage and control independent demand items, that is, finished products and distribution inventories.