With the aim to continuously strengthen and support Micro, Small and Medium Enterprises (MSMEs), the Provincial Office of the Department of Science and Technology in Laguna (DOST-Laguna) held a Training on Inventory Control last February 17, 2023. The training is part of a series of capability development webinars organized for their MSME beneficiaries in the first semester of the year.
DOST-Laguna invited its assisted beneficiaries from the Small Enterprise Technology Upgrading Program (SET UP) and local Grants-in-Aid Community Based Projects (GIA-CBP) to gain appreciation and knowledge on the benefits of employing an enhanced inventory control and a digitalized inventory and supplies management in their business operations.
Dr. Philip Ermita, Associate Professor of the Polytechnic University of the Philippines (PUP), the key resource speaker for the Inventory Control Training, underscored the importance of innovation in the inventory management of MSMEs that may result to a more efficient and cost-effective business practices, hence more productivity and profit.
During the lecture, he tackled the different challenges faced in the inventory control management of small business and, at the same time, provided possible solutions. These solutions include the use of available digital resources such as inventory softwares and artificial intelligence in their management system to optimize the processing, managing and monitoring of their products and/or services.
He also discussed the techniques in improving inventory management and the factors to consider in digitizing inventory and supplies management.
Ermita closed the session quoting W. Edwards Deming, “If you can’t describe what you are doing as a process, you don’t know what you’re doing,” explaining that it is imperative in inventory control that Key Performance Indicators (KPIs) are identified and measured for immediate decision-making.
DOST-Laguna expressed gratitude over the support of Dr. Ermita as he also tapped other experts from PUP to sponsor four more training sessions of different related topics designed for MSMEs.
The office is urging the participants to attend all the free webinars they are set to hold until June and to monitor the schedule announcements from their official page, DOST-Laguna at https://www.facebook.com/dostlaguna.
It is the main thrust of DOST-Laguna to provide capacity building activities for their program beneficiaries and shall continue implementing similar initiatives to capacitate their MSMEs.#
