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Strategic Importance of Inventory Management

On 13 October 2014, speakers from Geodis Wilson Singapore Pte Ltd shared industry insights with SIM University students from the Inventory Management course of the Bachelor of Science in Logistics and Supply Chain Management programme.

Mr Patrick Tan, Manager of ASEAN Operations, started off by giving an overview of the Geodis Group, Europe's fourth largest logistics operator with a presence in 120 countries and a world-wide workforce of 30,000 employees. Following that, Mr Madhusudan B Shankar, Business Solutions Manager - APAC, shared that inventory management not only plays an important role in executing the supply chain strategy of an organisation, but is also a key factor in deciding the final cost of the product and service offered to customers.

Mr Madhu focused on the practical aspects of inventory management, different levels of inventory management and the need to have end-to-end visibility of the supply chain while managing inventory. He also provided tips to test the effectiveness of inventory management of an organisation and often used trade-offs for decision-making purpose. He concluded by presenting a business case on inventory management and engaged the audience with a lively question-and-answer session.

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