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Inventory Management and Optimization

By: Centre for Public Service Productivity and Development

Lagos State, Nigeria

11 - 13 Mar, 2025  3 days

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NGN 185,000

Get 5.00% off

Venue: Lagos

Other Dates

Venue Date Fee  
Lagos, Lagos State, Nigeria 03 - 05 Jun, 2025 NGN185000
Lagos, Lagos State, Nigeria 02 - 04 Sep, 2025 NGN185000
Lagos, Lagos State, Nigeria 02 - 04 Dec, 2025 NGN185000

This course is designed for professionals seeking to improve their skills in inventory management and optimization techniques. Participants will learn how to effectively manage inventory levels, reduce costs, and enhance operational efficiency. The curriculum emphasizes best practices, tools, and strategies to optimize inventory processes within various business contexts.

Course Outline

Module 1: Fundamentals of Inventory Management

  • Understanding the role of inventory in supply chain management.
  • Key concepts and terminology in inventory management.
  • Types of inventory and their implications for business operations.
  • Overview of inventory management systems and methodologies.

Module 2: Inventory Control Techniques

  • Techniques for tracking and monitoring inventory levels.
  • Just-in-Time (JIT) and Economic Order Quantity (EOQ) models.
  • ABC analysis for prioritizing inventory management efforts.
  • Implementing cycle counting and physical inventory audits.

Module 3: Demand Forecasting and Planning

  • Importance of accurate demand forecasting in inventory management.
  • Techniques for forecasting demand (qualitative and quantitative methods).
  • Utilizing historical data and market trends for planning.
  • Strategies for aligning inventory levels with demand fluctuations.

Module 4: Optimization Strategies and Technology

  • Best practices for optimizing inventory turnover and reducing carrying costs.
  • Leveraging technology and software solutions for inventory management.
  • Strategies for inventory replenishment and supplier collaboration.
  • Continuous improvement methodologies for inventory processes.

Conclusion

Upon completion of this course, participants will have a thorough understanding of inventory management principles and optimization strategies. Equipped with practical tools and insights, learners will be prepared to implement effective inventory practices that enhance operational efficiency and reduce costs.

Lagos Mar 11 - 13 Mar, 2025
Lagos, Lagos State, Nigeria 03 - 05 Jun, 2025
Lagos, Lagos State, Nigeria 02 - 04 Sep, 2025
Lagos, Lagos State, Nigeria 02 - 04 Dec, 2025
NGN 185,000.00(The program fees covers tuition, Course Materials, Tea/Coffee Break, Lunch, Bag, Certificate of participation and administration)
(Convert Currency)

Dr Chris Egbu +2348023194131

Organizations sponsoring two staff will get 10% discount, Three - Five will get 15% discount, Six - Ten will get 20% discount and Payment before two weeks to event date attracts 5% discount. You can also consider the option of having this training in-house or online at 40% discount and 5 free e-books
Centre for Productivity - CeProd
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