Profitable Inventory Management and Control Course

The operational and strategic management of inventories, the role of inventory management and the professionals behind this important organizational function as it directly relates to the improvement of the company’s competitiveness.

Also cover the most important aspects of inventory management from warehouse design and operations through forecasting requirements and parts variety reduction to evaluating inventory practices and building an effective inventory management plan of action.

Learning Objectives

The operational and strategic management of inventories, the role of inventory management and the professionals behind this important organizational function as it directly relates to the improvement of the company’s competitiveness.

Also cover the most important aspects of inventory management from warehouse design and operations through forecasting requirements and parts variety reduction to evaluating inventory practices and building an effective inventory management plan of action.

Learning Objectives

• This course aims to help the supply chain professional to understand and
  apply four (4) major and significant aspects of inventory management:
• Optimize Inventory Levels
• Build an Inventory Management Plan
• Design and Manage Warehouse Operations
• Increase Accuracy, Traceability and Reduce Parts Variety

Participants should be able to understand the financial impacts of inventory and the risks in both over and under holding of inventory – the management of inventory, including lead time management, demand planning and interfacing with other functional groups directly and indirectly involved in inventory planning and operations.

They should also be able to understand the importance of effective Warehouse Management in minimizing the cost associated with the storing, moving and transporting goods into and out of the warehouse storage locations; the importance of reconciled physical count balances and system records and most importantly, the efficient, fast, precise and perfectly-timed issuances of the right quality and quantity of stocks to its intended users.

Course Contents

• Introduction - Review of the “Fundamentals”
• Working Capital Cycle
• Inventory Carrying Cost
• Effect on Financial
• Inventory Planning
• Inventory Operations     
• Warehouse Planning and Systems

Whom to Attend

This training is suitable to a wide range of professionals but will greatly benefit:

Those involved in inventory, albeit as supplier, buyer, materials planner, warehousing, finance or even end-customer

Professionals and staff in the organization who are responsible for reducing costs, increasing productivity, raising inventory turns and enhancing customer service through high fill rates, accurate information and excellent order fulfilment

• This course aims to help the supply chain professional to understand and
  apply four (4) major and significant aspects of inventory management:
• Optimize Inventory Levels
• Build an Inventory Management Plan
• Design and Manage Warehouse Operations
• Increase Accuracy, Traceability and Reduce Parts Variety
• Participants should be able to understand the financial impacts of inventory and the risks in both over and under holding of inventory – the management of inventory, including lead time management, demand planning and interfacing with other functional groups directly and indirectly involved in inventory planning and operations.
• They should also be able to understand the importance of effective Warehouse Management in minimizing the cost associated with the storing, moving and transporting goods into and out of the warehouse storage locations; the importance of reconciled physical count balances and system records and most importantly, the efficient, fast, precise and perfectly-timed issuances of the right quality and quantity of stocks to its intended users.