5 Benefits of Improving Production Planning and Inventory Control
Production Planning and Inventory Control sounds complicated, but when done correctly, it does provide many opportunities to reduce cost and increase productivity. Advances in computer software also makes a lot of the computation easier. Today, I say, “learn the fundamentals well and let Excel deal with the math.”
Production planning and Inventory Control can be defined as the process of planning the production in advance, setting the exact route of each item, fixing the starting and finishing dates for each item, to give production orders to shops and to follow-up the progress of products according to orders. It also involves having the right quantity of raw materials or components while avoiding overstocking and running out of stock.
To maximize productivity, every company needs a sound production plan. However, as we saw above, effective planning is a complex process that covers a wide variety of activities to ensure that materials, equipment and human resources are available when and where they are needed. Production planning is like a roadmap: It helps you know where you are going and how long it will take you to get there.
Here are 5 advantages of an effective production plan and inventory control:
- Right-size your investment in capital equipment. Capacity Planning helps you have just the right amount of equipment, labor and supplies for your target production capacity.
- Reduce your inventory costs by decreasing the need for safety stocks and excessive work-in-process inventories.
- Reduce your labor costs by eliminating wasted time and improving process flow.
- Optimize equipment usage and increased capacity and improve your ROA (Return on Assets).
- Make your customers happy with improved on-time deliveries of products and services.
How to learn Production Planning and Inventory control
As RMP Consultancy, we have conducted this seminar to many of the successful companies in the Philippines. Our 2 day workshop covers the principles of production and inventory planning and control. The best practices in modern manufacturing will be discussed with an emphasis on the optimizing the supply chain. Participants will gain an appreciation of various methodologies such as ISO, JIT, Lean and Six Sigma. They will develop their own creative solutions in increasing productivity while reducing inventory without compromising customer satisfaction.
Register for one of the Seminars Above
Register for the Seminar
RMP Consultancy Seminars are available in the following formats:
- Public Seminar at our training center in Quezon City Philippines
- In-House (at your site) Workshop Format for a Max of 25 pax (Recommended)
- Special Exclusive Run
- One-on-one Coaching
Please Call Marco or Claire:
Landlines: Tel (632) 697-0767, Tel (632) 579-0233
Mobile (Globe) 0917-882-5578, Mobile (Smart) 0920-918-7358
Comments are closed