Inventory Management by LEAN in Supply Chain Management

Lean inventory management is the calculated approach to increasing the value of a company’s inventory in supply chain management by identifying and eliminating waste left behind from manufacturing and supply chain.

Before manufacturers started using lean inventory management, they would usually manufacture their goods based on demand planning as inventory management is determining factor in a companies supply chain management.

However, with lean inventory, the manufacturer figures out and eliminates their excess inventory and only stores what they need in a specific time frame as this day companies don’t compete again each other their supply chains compete against each other as inventory management is the most important part of supply chain. Lean inventory management should be top priority in every companies supply chain management

the practice using lean inventory management in supply chain originated from japan. As Japanese have mastered in lean supply chain management

it was famously adopted by Toyota motor corporation, who switched to a make to order approach and performed a continuous analysis of its production lines to help the company survive a post-war Japanese economy.

By using the lean inventory tactic, Toyota was able to adapt to the trends in demand and the changing climate of the economy by not burdening themselves with the increased carrying costs of storing finished goods or wasting precious resources on unnecessary production.

Course content:

1. Introduction to lean inventory management in supply chain

2. Waste management with lean inventory management

3. Forecasting inventory the with lean inventory management tools in supply chain

4. Vendor inventory management

5. Role of Gemba walk in lean inventory management efforts

6. The 5s’s of lean for supply chain and inventory management

7. Kanban in lean inventory management

8. Reduce changeover in manufacturing

9. Benefits of one piece flow in lean manufacturing and lean inventory management

10. Error proofing to avoid waste in supply chain

11. Standardization to lower inventory management efforts

12.preventive maintenance for unhalted supply chain

13. Quality is never and accident in supply chain

14. Just in time the heart of lean inventory management in supply chain

15. Rationalize to get best inventory management results and increase revenue

16. Teaming up with vendors for lean inventory management

17. Safety stock as a backup in inventory

18. Concurrent vs sequential engineering which is better for supply chain and manufacturing

19. Lean inventory management is a continuous effort for better supply chain

20. Developing a lean supply chain and inventory management culture