Inventories are one of the most expensive assets for many companies and can account for up to 50% of their investment. Global operations managers have long recognized that good inventory management is essential.

The company can cut costs by reducing inventory, but when the necessary items are not in stock, it can lead to production delay, delayed delivery. As a result, customers’ satisfaction would decrease. Therefore, the company must always balance its investment in inventory and customer service. This shows that the management of inventory to be most effective is no longer an ordinary job, but requires an inventory manager to have good, specialized skills, a strategic calculation method, and an effective management art.

Understanding these difficulties of businesses, PACE School of Production Management (a member of PACE Institute of Management) has designed the program "Effective Inventory Management" to help management leaders do a good job of managing the inventory at all steps where the flow of raw materials reaches the finished product to:

• Avoid waste;
• Avoid losses;
• Avoid shortages;
• Reduce inventory;
• Timely response to production.