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  1. CICU Organized Seminar on “Store Inventory Management with Special Effect to GST”

    One Day Seminar on “Store Inventory Management with Special Effect to GST” was organized by Chamber of Industrial & Commercial Undertakings at CICU Commercial Complex, E-648-A, Phase-V, Focal Point, Ludhiana.

    Sh. Avtar Singh, President, CICU welcomed the participants and said that in the present economic scenario, Industry and Trade in general and MSMEs in specific are to be encouraged for raising  their talents and skills, which could lead them towards door of success in these challenging times. The participants will learn latest methods/skills of Store Inventory Management for application in their organizations. He further said that in this global competitive business scenario, this Seminar will enable participants to add superior values and put in efforts to provide maximum gains for their companies in the Store & Inventory Management Functions.

    This highly interactive and thought provoking Seminar was conducted by Mr. S.K. Sharma, Chief Mentor, Pinnacle  Innovative Solutions, Panchkula who is having more than 32 years experience in Materials & Supply Chain Management in Punjab Tractors Ltd, Swaraj  Mazda Ltd & Punjab Anand Batteries Ltd. EX. Supply Chain Head  Punjab Tractor Ltd owned by M & M. Former National President -- Indian  Institute Of Materials Management,(2005-07) Post Graduate &  Graduate Diploma in Materials Management, One week In-House  Program on Inventory Management from IIM, Ahmadabad, Participated more than 100 seminars on Supply Chain management in  India & abroad, World Congress on SCM at Switzerland, U.S.A., U.K. Sweden, Italy & Thailand. He has Conducted more than 100 E.D.P.S, Training Programs, Workshops & In House Training Programs for Industry and Trade.

    The Faculty explained in details regarding Role of Stores in Inventory Management in Factory Management, Codification, variety reduction simplification & standardization, Pull vs. Push System, Stock Management, Perpetual & periodical stock verification, The Key Cost Elements in Inventory Management, Skills of Inventory Management in Improving Profitability, Different type of stock levels, Inventory Control Tools, Economic Order Quantity, Reduction in Lead Time, Setting buffer stock levels, GST & its impact on Warehousing & Inventory Control, Understanding the new methods of measuring the inventory management efficiency with actual examples and Case Studies.

    Sh. Upkar Singh Ahuja, General Secretary, CICU in his concluding remarks said that due to globalization of the Indian economy, the Industry and Trade Sectors are facing new challenges. This seminar will make valuable contribution for effective use of “Store and Inventory Management Skills with Special Effect to GST” for promoting business with optimum inventory levels, time & cost reduction for procuring Store and Inventory, controlling of waste and obsolete material, Vender Development and Vender Rating (VMI & JIT) and skills of Measuring Inventory Management Efficiency. The seminar is highly beneficial in many ways. Sh. Ahuja further said that he is hopeful if knowledge shared in the Seminar is practically and Effectively Implemented, it will definitely promote the Store and Inventory Functions of Industry and Trade of Punjab, therefore, improving their overall profitability.

    He appreciated the participants for lively and interactive discussions.