The value of supply chain management cannot be overstated in this day of intense competition. Inventory control and warehousing are essential elements of supply chain management. To increase customer satisfaction, reduce obsolete inventory, and optimize supply chain costs, these functions need to be strategically controlled. Today’s supply chain practitioners must have expertise in cutting-edge storage and inventory management solutions.

Participants will learn the fundamentals of strategic warehousing and inventory management throughout this training, as well as the best ways to manage inventory and warehouse.

Target Participants

This course is ideal for inventory, stock, supply chain, logistics, warehouse and distribution professionals, project managers, finance staff, operational staff, government officials, and any other professionals who want to build their skills in supply chain management.

Course Duration

Online       7 Days

Classroom-based       5 Days

What you will learn

By the end of this course the participants will be able to:

• Understand and implement different tools for managing inventory in the supply chain.
• Appreciate the strategic importance of warehousing and inventory.
• Improve the efficiency of warehouse and inventory management operations.
• Identify and understand key performance indicators.
• Develop an inventory strategy in the warehouse.

Course Outline

Inventory and the Supply Chain 

• Inventory flow in the supply chain
• Inventory definitions and importance
• The basic rules of a successful supply chain
• Supply chain and inventory dynamics
• Financial management, cash flow, and inventory
• Statistics application in inventory control
• Truths on inventory visibility

Key Components to Understanding Effective Inventory Control

• End-user demand analysis
• Forecasting for operations and maintenance
• Understanding supply lead time
• Cost & benefits analysis
• Developing inventory policies
• The need for inventory in an organization

Inventory Methods and Systems 

• Basic mechanics of inventory systems
• Establishing order quantity
• Implications of free stock in inventory
• Replenishment methods, reorder point, and reorder level (ROP / ROL)
• Requirements for planning systems, bills of material, and inventory planning
• 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

Implementing the Tactical Procurement Decisions

• Supplier Involvement
• Value analysis
• Quality Assurance
• Supplier selection
• Supplier rating and ranking
• Contract management
• IT systems and e-Procurement
• Policies and procedures
• Staffing the procurement department

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in their respective fields of practice. The course is taught through a mix of practical activities, theory, group work, and case studies.

Training manuals and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations, and tailor-made needs.