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How to Monitor Company Inventory with a BI System? (8 Nov 21)
- Subject Area
- FinTech and Financial Intelligence
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- Date & time
- 08Nov 2021 (Mon)17:00 - 18:00
- Zoom Webinar
- Mr Danny W. C. Chan
Mr Danny W. C. Chan
Mr. Chan, FRM, has possessed rich experience in financial risk management, information technology and data science and worked as IT Manager over a decade. Being a practitioner in information technology, he is currently a consultant and trainer at Big Data Consultancy Services Company. Also, he is strong in Cloud-based solutions, Big Data Technology, Data Mining and Machine Learning. Moreover, Mr. Chan has obtained a Bachelor Degree in Mathematics from The Chinese University of Hong Kong as well as three Master Degrees in Risk Management Science from The Chinese University of Hong Kong, Quantitative Analysis for Business from City University of Hong Kong and Industrial Logistics Systems from The Hong Kong Polytechnic University.
- 2867 8331 (email@example.com)
- Relevant Programmes
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Inventory is an important asset of a company. Different from cash, which is saved in bank accounts, inventory is stored in a number of places such as warehouses, outlets, store rooms or even offices. For that, it needs a higher level of control. But how?
Inventory is a flow concept. If you are asked a question “Should a company keep more or less inventory?”, how would you respond?
Less Inventory: As the aim is to convert stock to cash to improve the liquidity of the company, so keep it less. Having said that, what about we do not have sufficient stock to meet the customer demand? Reordering from vendors would take time and we will be losing sales.
More Inventory: The downside is naturally the risk of keeping too much dead stock that would tie up cash on hand.
It sounds that there should be an optimal level of inventory for “each” kind of inventory. Nevertheless, do we have enough experience to figure out this optimal level?
In this coming fourth episode of Mr Chan's BI series of webinars, the speaker will showcase how we can visualize the inventory positions at all levels and how we can reconcile stock movements with stock balance easily. More importantly, we will visualize how stock level changes with respect to the customer demand so that an inventory controller is able to get an intuitive feel about the optimal inventory position before taking a proper and swift action on inventory replenishment.
Don’t miss this opportunity to watch the behaviour of inventory flow with an impressive and unique dashboard design. You will certainly find it a worthy webinar.
Language: Cantonese (Supplemented with English)
If you want to have an idea about how the data skills that can help you or your workplace, the speaker suggest you watch the following introductory video (20 min):
In the above video, the latter part covers data visualization with Tableau. If you want to learn Tableau at HKUSPACE, the following is the programme link:
If you want to want to learn the data automation skills at HKU SPACE, the following is the programme link:
If you want to have an idea how data visualization skills can help management to make decisions, here is another video (7 min):
If you want a half-day workshop to cover both of the above skills as an introduction, the following workshop at HKUSPACE would be good for you:
If you are interested in AI, the speaker also have a half-day workshop at HKUSPACE as an introduction to AI and Machine Learning: