Warehouses and Inventory Management are critical for the effective management of procurement and the supply chain to enable the efficient delivery of superior customer service.

Warehouses and Inventory controls are often overlooked and are not thought to be an important activity. Therefore, incorrect levels of inventory can be held with attendant knock on effects to costs, availability and customer service.

Course Overview:

• This training course will destroy this myth of unimportance and demonstrate just how to:
• Evaluate procedures, change and improve methods wasteful activities and excess costs
• Discover all of the essential tools for the effective management of warehousing and inventory
• Achieve best in class performance is exactly what this course is about
• Use all of the practical skills to take back to the workplace so that all those internal problems that limit performance are avoided
• Apply the required principles and look at many practical applications in a highly interactive learning environment; delegates will have fun while learning principles and skills to ensure that they are able to change current methods and activities

Learning Objectives

By the end of this training, delegates will be able to:

• Learn the principles of Warehouse and Inventory Management
• Evaluate current procedures
• Examine operations and activities
• Analyze the key areas of operations
• Identify and Understand key performance indicators
• Succeed in improving operations
• Improve personal productivity
• Make needed changes to methods to improve customer service whilst achieving reductions in inventory
• Eliminate wasteful costs
• Avoid those internal problems that limit performance
• Obtain added value for money
• Understand and implement the essential tools for managing warehouses and inventory in the supply chain

Course Contents

• Inventory and the Supply Chain
• Inventory Definitions and Importance
• Inventory Flow in the Supply Chain
• The Basic Rules of Successful Supply Chain
• Supply Chain and Inventory Dynamics
• Financial Management and Inventory
• Statistics Application in Inventory Control
• Key Components to Understanding Effective Inventory Control
• End-User Demand Analysis
• Forecasting for Operations and Maintenance
• Understanding Supply Lead Time
• Cost and Benefits Analysis
• Developing Inventory Policies
• The Need for Inventory in Organizations
• Inventory Mechanics, Methods and Systems
• Basic Mechanics of Inventory Systems
• Establishing Order Quantity
• Implications of Free Stock in Inventory
• Simple Replenishment Methods, for example, Min / Max
• Replenishment Methods, Reorder Point and Reorder Level (ROP / ROL)
• Requirements Planning Systems, Bills of Material and Inventory Planning
• Class Assignment Inventory Control Methods
• Establishing Stock Control
• Establishing Stock Checking
• Developing Stock Accuracy
• Stock Tolerances and Approvals
• Stock Reconciliations / Discrepancies
• Identifying Surplus and Obsolescent Stock
• Identifying Different Storage Conditions
• Understanding Stock Coding
• Stock Variety Reductions
• Understanding Inventory Strategies
• Creating Inventory Policy
• Incoterms and the Supply Chain Rules
• Understanding Vendor Managed Inventory (VMI) and Co - Managed Inventory (CMI)
• Inventory Improvements
• Using the Supply Chain
• Using the Theory of Constraints
• Practical Inventory Improvements
• Keys to Reducing Stock Levels
• Model for Planning Inventory

Whom to Attend

• This training  is 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