Why Attend This Training Course?

Every organization is worried about their bottom line; but where can your company save a lot of money? The answer is lies under purchasing. When inventory is managed the right way, significant financial losses are largely avoidable. After all, purchasing is all about getting the best equipment and supplies at the best prices, while maintaining great relationships with suppliers and vendors. But that is easier said than done. In order to save money through well-managed inventory, your organization needs to have visibility into corporate spend. Therefore, This training course will help you and your organization achieve full inventory visibility in order to effectively manage purchasing and storage.

What Is The Training Course Methodology?

This training course methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as theoretical lectures and/or open discussion to exchange opinions and experiences, scenarios, innovative thinking brainstorming. Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets. 

Who Should Attend This Training Course?

• This program is designed for all individuals who have a stake in the Supply Chain and all Logistics, Materials, Inventory, Stock, Warehouse and Distribution professionals.

• It will also help those who need to develop their limited understanding about Warehouse and Inventory management.

• It will be especially helpful to all those who are looking to make business gains and benefits and to any owners, operators and directors of companies with warehouse and stores operations and who hold stock and inventory.

What Are The Training Course Objectives?

• Understand how to apply the best methods of inventory analysis to validate optimal inventory levels. Create performance measures for min/max and order point systems to monitor inventory levels and control the replenishment of stocks and materials.

• Outline how inventory systems use forecasting techniques and what can be done to improve them.

• Examine the key areas of warehousing operations (i.e. stock receipt, dispatch & rotation activities, inspection and stocktaking).

What Is The Training Course Curriculum?

The Role of the Warehouse

• ABC Analysis or the 80/20 rule 

Warehouse Operations

• Receiving

• Put away

• Picking

• Shipping

 Stock Audit

• Different methods

• Tolerances and approvals

• Reconciliations / discrepancies

 Inventory and the Supply Chain

• Inventory management definition

• Tradeoffs

• Power of information

• Risk Pooling concept

• Types of Inventory

• Type I and II supply chains

• Inventory Costs

• Concept of service level

Fundamentals of Demand forecasting

• The Forecasting Process

• Effect of Lead-times

• Types of Demands

• Demand Patterns

• Conditions to use Forecasting

• Impact of Push and Pull Strategies

• Forecasting Techniques

• Measuring Forecasting Errors

 Inventory Control Systems

• Types of Inventory Control

• Push Systems

• MRP / MRPII / ERP

• Pull Systems

• ROP system

• Periodic Review system

• How much to order

• Determining the Safety stock

 Inventory Performance

• Inventory Assessment

• Assessing the stock level – XYZ – 3D MUSIC classification

• Inventory KPI's in warehouses/stores