$afety
$tock – A key to Financial Success
Wednesday,
1/31/2007 1:00PM CST
Panelist(s): Anne Omrod and Kai Trepte, Co-founders of John Galt Solutions, Inc.
Safety stock is one of the most significant and controllable costs that a company experiences in its supply chain. The relationship between demand variability and safety stock has been well understood for many years. Many models have been developed to manage and calculate safety stock, but they do not take into account that forecast accuracy varies by the time of year.
This webinar will focus on methodologies and processes for developing safety stock routines that are capable of handling seasonal variability. By utilizing safety stock routines that are tied to seasonal variability it is possible to significantly reduce inventory levels in off season periods without having to manually adjust safety stock levels throughout the year.
While safety stock is a critical element in the supply chain, it can have its greatest effect when it is informed by manufacturing policies and practices. The latter portion of the webinar will provide a vehicle utilizing the safety stock calculation process to more directly align commercial groups and supply chain operations. This is accomplished by driving collaboration and discussion regarding the items in a company's product portfolio. This session will provide concrete steps to more closely align inventory safety stock policy across the entire business to guarantee more efficient use on inventory investment.
Safety Stock – An Overview
- The differences between safety stock and cycle stock
- Explanation of safety stock formula components
Examples of variability
- Non-seasonal variability
- Seasonal variability
- Implications on average inventory
The process of moving to seasonal safety stock
- Methods for deciding to move to seasonal safety stock
- Methods for calculating seasonal safety stock
- Key benefits of using seasonal safety stock
Taking the process to the next level
- Using safety stock to bridge sales and operations
- Aligning commercial requirements and operational efficiencies
- Methods for implementing safety stock programs within your organization
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JGS Holds Free Webinars
John Galt Solutions held two free webinars in January. The first was the ForecastX Wizard User Conference on January 17, which offered participants an opportunity to learn exciting advanced techniques with ForecastX software and make suggestions for upcoming versions of the ForecastX Wizard. On January 31, Vice President Kai Trepte will address more than 80 attendees about safety stock strategies and techniques using the ForecastX Wizard. Don't pass up this last minute opportunity to add your name to that list.
John Galt Solutions offers webinars throughout the year, which focus on every aspect of the business forecasting process. For information on upcoming webinars, visit us on the Internet at www.johngalt.com .
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