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SIMULATION – Inventory Control and Lead Time Reduction

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These modules deal with the reduction of inventory, which directly impacts lead time. What inventory levels are you holding? What are your lead times? Since inventory and lead times are connected how will you reduce inventory without hurting your processes?

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Description

Simulation Understandings: Modules 8 – 10

These modules deal with the reduction of inventory, which directly impacts lead time.  From watching the module you can see that how we improve our system can have a profound impact on our ability to process products.  The following questions should help you understand your process movement, please take some time to discuss them and note your answers.

  1. What inventory levels are you holding?
  2. What is your inventory turns?
  3. Do you have an inventory reduction plan
  4. What are your lead times?
  5. Have you tried to reduce inventory in the past? What was the outcome?
  6. Since inventory and lead times are connected how will you reduce inventory without hurting your processes?
  7. Do you utilize an MRP system and if so how is it connected to actual processing?
  8. How will you integrate processing amounts with your inventory levels so that you can effectively utilize overtime for deliveries?
  9. How do you monitor inventory amounts currently? Is there a way of creating a scanning or up to the minute inventory monitoring system?
  10. How will you get out of the “what if” inventory build-up?

By completing the above questions you should have gotten a clearer picture of your processes and how they are impacted by the different strategies you employ in processing.  If you went through all the questions you should have an understanding of how your processes are working and how to improve them. Thank you.

 

HERE IS WHAT YOU WILL RECEIVE:

Modules 8 – 10 – MP4 Videos

Simulation Exercise Details

PDF Presentation On-Topic

Participant Tracking Handout

Simulation Understanding of Module(s)