Although all facets of purchasing are going thrugh major re-engineering and many transactions are being eliminated or automated, basic skills in creating, managing and administrating contracts is still critical to the enterprise. Advancement in the profession requires an in depth understanding of this subject. EXSP 8779 Inventory management is one of the most important processes of any organization. In many, if not most, organizations today, inventories constitute the second-largest category of assets shown on the balance sheet, exceeded only by physical facilities and equipment.
Inventories frequently account for as much as thirty percent of the organizations invested capital.
The idea of reducing the costs of inventories by optimizing their planning and management is the main subject of this seminar. You will learn how to identify inventory costs, plan and manage inventory replenishment policy and calculate safety stock. The appropriate requisition methods will be discussed as well as implementation techniques. This course is a survey of California law governing the pruchase of goods and services. Students should bring samples of forms used in your daily work.