Feb 19 - Dinner Meeting - Student and Industry Night.

February 19, 2020
5:30 PM to 9:00 PM
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Firefighter's Public House
6515 Bonsor Ave
Burnaby, BC, BC V5H 3E8
http://www.firefightersclub.com/#index
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NETWORKING AND DINNER EVENT - INVENTORY ACCURACY

BCIT STUDENT NIGHT - BOTH Industry professionals and Students welcome - GREAT NEWORKING OPPORTUNITY


By: Marbella Alfaro, Vladislava Fomina, and Johnson Hsin (BCIT Business Operations Management Students)

You’re invited to attend the following APICS Vancouver / BCIT event:

BCIT Business Operations Management Program is partnered with industry professionals to source process improvement and design projects for students within the field of study to experience what it will be like in the “real world.”

Join us on the evening of Wednesday February 19th to experience first-hand the improvement process of the project as Marbella, Johnson, and Vlada, three BCIT Business Operations Management students showcased during their Fall 2019 project. The project was at Peregrine Plastics Ltd. (custom retail manufacturer) with the focus of improving inventory accuracy. 

Marbella, Johnson and Vlada will walk us through the steps that they took including:

  • Data Gathering for current process
  • Analysis of Current Process
  • Process Requirements and Design
  • Analysis of Alternatives
  • Recommendations

For organizations that are concerned about the efficiency of their inventory system and would like to know how to improve it, this APICS Vancouver event will show you how it’s done. Our Team will present what they did in their 3rd term consulting project and will explain how they used the knowledge and tools acquired at BCIT to measurably improve Peregrine’s inventory system. This is a great opportunity to learn more about this topic and how it can be applied to your business.


Agenda and Timing:

530 pm - Meet and greet - Cash bar
630 pm - 645 pm - Chapter Business 
645 pm - 745 pm Grand buffet dinner
745 pm - MAIN Event
900 pm - Event wrap up

FREE PARKING AND WIFI AVAILABLE.  PARKING IS IN THE METROTOWN PARKING LOT BEHIND THE BAY AND FOOD COURT.  IF YOU PARK ON THE UPPER(UL)  3rd LEVEL YOU HAVE DIRECT ACCESS TO THE EVENT VIA "FIREFIGHTERS PARKING" and ACCESS DOOR.  LOOK FOR SIGNS. 


Improving Inventory Accuracy at Peregrine Plastics Ltd.
Date: Fall 2019
Project Team: Marbella Alfaro, Johnson Hsin, Vladislava Fomina
Sponsor: Brian French, President
Company: Peregrine Plastics Ltd.


Peregrine Plastics was found in 1977 when they started as a full-service custom plastic thermoforming and
fabrication company. They built a reputation for quality work and service, which helped them become one of the
largest heavy gauge plastic fabricators of custom products. In this line of work, the demand fluctuates yearly which
is difficult to project future demand. Peregrine Plastic’s current inventory management system is not suitable for
a high fluctuation in projects.


The purpose of the project was to find a root cause of inventory consumption recording inaccuracy and to deliver
a new process to record inventory consumption of sheet materials from the time they are received to the time
they are consumed by using PDCA and CDCI methodology approaches.


There were several symptoms accrued due to the problem:
• A shortage or overstock of materials
• Wastes occur from inaccurate recording system.
• Physical inventory does not match with records in computer system.
• The millworkers continue looking for inventory throughout the warehouse for several weeks after the
initial inventory count has been done.
• Profit is being affected by extra expenses of buying more than what is needed per project.


The recommendation of developing a new process for inventory consumption recording on computer touch
screens instead whiteboards along with materials location system and cycle counting would lead to the following
benefits:
• Increased inventory accuracy from 5% to 80%
• Reduction in time spent for searching inventory around the warehouse on average from 30 mins to 15
mins
• Yearly Savings of $37,410 in first year and $43,573 in the second year after the implementation

“The team of BCIT students was a pleasure to work with and showed lots of enthusiasm while they were
working with us. They showed great work ethic and were very helpful in identifying areas where we need
to focus our attention in order to improve our facility. We would like to thank BCIT for providing this
opportunity.”
Anna Nenadic, Project Manager

 

Tickets

$35.00 APICS Member Individual Ticket
$45.00 after 07:00 am February 19

$45.00 Non Member Ticket
$55.00 after 07:00 am February 19

$20.00 SPECIAL Student Ticket - All student types welcome
$30.00 after 07:00 am February 19