Best Practices And Optimzation
Monitoring and tracking of raw materials and goods help keep costs low and enable your organization to meet demand. Best practices and topics included in this course include logistics receiving, forecasting, replenishment, inventory classification and minimizing risk through the optimization of cycle and safety stock levels. Through this course, both fundamental and proficient level professionals will gain insight into the essential skills required to effectively manage an organization’s assets and reduce holding costs.
Date: June 7, 2022@9:00am to 5:00pm CDT
Format: Virtual Class
CEH Credits: 7.0
Product Code: VC-4346-22
Jeffery K. Sjurseth
Jeff spent 42 years in the oil and gas industry where he held a variety of executive positions supporting international and domestic operations. He spent over 16 years as an expatriate in Tunisia, Qatar, Australia, Azerbaijan, Egypt and Malaysia and had business dealings in over 30 countries.
He is well versed in strategic management, contracting strategy, negotiations, supply chain management, and new country entry/exit. His international assignments gave him invaluable experiences in dealing with, 1) the ambiguity of operating in multiple geographies (aligning corporate policies and procedures with country license agreements and regulatory body requirements), 2) challenges of multiculturalism, 3) the need for collaboration in developing cross-functional leadership strategies, and 4) preparation for security risks that inexperienced international companies lack (personal experience in crisis management including civil unrest (Tunisia Bread Riots), acts of war (Iraqi invasion of Kuwait, Israeli bombing of PLO encampment in Tunis, Tunisia), dependent evacuation, well control, operational sabotage, hurricane destruction, pandemics, etc.).
He has presented at industry conferences on numerous occasions as a subject matter expert on topics including 1) contract risk management (successfully developed, negotiated and implemented global model agreements, particularly drilling and well services), 2) eProcurement (simple and complex buying), and 3) ERP implementation.
During the latter years of his career he spent much of his time in advisory and mentoring roles as well as guest lecturing on international operations at Texas A&M’s Professional MBA program covering subjects such as, 1) the influence of culture, religion and politics on business, 2) security, 3) compliance, 4) production sharing and joint operating agreements (understanding the complexities of total cost of ownership incorporating maximizing cost recovery while strategizing to minimize actual dollar spend), 5) economics (the social/economic value in preventing a coup trumping ROI/NPV) and 6) preparation/training of staff and spouses for the realities of international living.
Jeff now consults with universities and corporations assisting with integrating academia with practical, real life experiences. Jeff’s objective is to encourage individuals to be confident in themselves and resilient by learning that life/work is not prescriptive. One must apply education, experiences, and creativity to address challenges that "will" come their way. Jeff has been married to Leslie for 38 years. They have three children and five grandchildren. He graduated from Texas A&M University with a Bachelor of Business Administration and earned a Master of Business Administration from the University of Houston.
- Introduction to Supply Chain Management Process:Reviewing supply chain end-to-end processes and drivers.
- Logistics Receiving: Understanding inbound logistic variable and best practices.
- Warehouse Basics: Discovering warehouse options, cost drivers and management systems (WMS).
- MRP System: Determining factors for inventory planning.
- Forecasting Time Horizons: Identifying dependent and independent demand with scheduling windows.
- Replenishment: Reviewing strategies to bring inventory to appropriate levels.
- Inventory Classification: Understanding inventory strategies that comprehend usage rates, variability and frequency of use.
- Cycle Stock and Safety Stock: Determining types and levels of inventory to minimize risk and optimize costs.
- Slow Moving and Obsolete Inventory (SLOBS): Developing strategies for dispositioning not required inventory.
Who Should Attend:
This supply management training is ideal for fundamental & proficient level professionals involved in the various aspects of procurement, logistics or planning. Understanding elements of inventory and warehousing will provide proactive supplier strategies to drive down organizational costs and improve profitability.
Virtual Class Schedule:
Day 1 - 9:00 am CDT - 12:30 pm CDT (3.5 hours), Break for Lunch
Day 1 - 1:30 pm CDT - 5:00 pm CDT (3.5 hours)