The Economy - US and Worldwide

Inventory Stratification Optimizes Results
A Case Study Incorporating Analytical Hierarchy Process


When:

 

Tuesday, October 23, 6:00 pm to 8:30 pm

Where:

 

Fountain Blue Des Plaines

Cost:

 

$35 members; $45 non-members
Food and parking included; Cash bar

Registration:

 

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Please Join Us for October's Professional Development Meeting
A presentation by the authors of the APICS Magazine April article on Inventory Stratification

Inventory Stratification Optimizes Results

In the Supply Chain of the current millennia Supply Chain managers have been, and are, under pressure to deliver improved performance at reduced costs. As the inventory is often a company's largest financial asset, inventories are an area of focus for cost/performance improvements. For this reason, if you are a Supply Chain manager or senior Supply Chain executive you are probably engaged in inventory optimization activities, or you are considering implementing some process to balance inventory holdings, reduce carrying costs, and improve cash flow. However, as you work toward improved inventory control, what is happening to the costs associated with inventory management - and, importantly, are those efforts toward inventory optimization really optimal in terms of inventory performance results? Based on their study at Castle Metals, as documented in the April 2018 issue of APICS Magazine, our October presenters will illustrate the application of the Analytical Hierarchy Process to effect inventory improvement.

Katherine W Olsen, CPIM, CSCP, co-author of the APICS Magazine April 2018 article, "Inventory Stratification Optimizes Results", a high energy supply chain leader with expertise in building effective global organizations and implementing customer-focused processes in dynamic, profitable business units is currently leading a high-performing team of supply chain professionals as Director of Supply Chain for Castle Metals. Ms. Olsen is also currently an Adjunct Professor in the School of Applied Technology at the Illinois Institute of Technology. Before coming to Castle Metals Ms. Olsen held three successive positions, Corporate Supply Chain Manager, Director of Supply Chain Global Fulfillment, and Director of Supply Chain Optimization, at Panduit. Prior to Panduit, Ms. Olsen had significant management responsibilities during her tenure at Motorola. Ms. Olsen received a Bachelor of Science in Industrial Engineering (BSIE) from the University of Illinois at Urbana-Champaign, and a Master of Science with a Supply Chain Management concentration from Elmhurst College.

Gurram Gopal, Ph.D., co-author of the APICS Magazine April 2018 article, "Inventory Stratification Optimizes Results", is Industry Professor, Industrial Technology and Management, School of Applied Technology at the Illinois Institute of Technology. Prior to becoming an Industry Professor for INTM, Dr. Gopal was a Theophil W. Mueller Endowed Chair and Professor of Business Administration in the Department of Business at Elmhurst College, and served as the College’s Fulbright Program Adviser. Dr. Gopal’s professional career includes development of marketing strategies for some of the world’s largest pharmaceutical companies as a strategy consultant and manager for ZS Associates. Dr. Gopal also worked in strategic marketing, supply chain management, and strategic quality at Tellabs, Inc. He holds professional certificates in ISO, CMM and Applied Statistics and Forecasting, and has published over 50 papers in academic and professional journals. Dr. Gopal received his Ph.D. in Industrial Engineering & Management Sciences from Northwestern University. Dr. Gopal received his Master of Science (M.S.) in Industrial Engineering & Management Sciences from Northwestern University. Dr. Gopal received his Bachelor of Technology (B.Tech) from the Indian Institute of Technology.

Castle Metals provides a broad range of metal products, metal processing capabilities and customized supply chain solutions to a variety of industrial sectors. The company has 20 locations throughout North America, Europe and Asia and works with its international original equipment manufacturers to serve their multi-location production requirements and delivery needs. Castle Metals leaders are committed to continuous improvement and empowering their employees to use their expertise and creativity to provide integrated supply chain solutions to customers. This is done by offering timely delivery of high-quality metal products and processing services, and a competitive and sustainable rate of return to its shareholders. For more information please go to www.castlemetals.com

Illinois Institute of Technology (IIT) is a private, technology-focused research university offering undergraduate and graduate degrees in engineering, science, architecture, business, design, human sciences, applied technology, and law. For more information on IIT please go to https://web.iit.edu/. IIT's School of Applied Technology's programs and courses provide a blend of theoretical content and practical application that utilizes a hands-on, reality-based approach to education. This allows students to apply what they learn in class to solve real-life problems. Students learn about new and emerging technologies and the application, integration, and administrative practices used in the effective management of these technologies. The School of Applied Technology includes the following educational programs: Food Science and Nutrition; Industrial Technology and Management; Information Technology and Management; and Office of Professional Development For more information on the School of Applied Technology at IIT please go to https://appliedtech.iit.edu/.

Please Note: Jaime Quilez Calleja, the third co-author of the APICS Magazine April 2018 article, "Inventory Stratification Optimizes Results", who is operations area manager for Amazon Spain, where he leads a team of more than 100 associates, will not be available to join in this presentation.

PDM Schedule

  6:00 – 6:45 PM –- Registration and Networking
  6:45 – 7:20 PM –- Dinner
  7:20 – 7:25 PM –- Announcements
  7:25 – 8:10 PM –- Presentation
  8:10 – 8:20 PM –- Q&A

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