-
Course Code
SCLM-004
Inventory & Stock Control Management
- Inventory and Stock Control Management is critical in operations as inventory is a current asset to a firm. Carrying inventory comes with a certain degree of risk. This risk is a component of the cost of carrying inventory. If a company stored parts for their work centers or equipment, the parts in the warehouse could be worth far less than the price that was originally paid and any losses, excess, obsolete and miss-managed inventory means a reduction in the company equity.
Learning Outcomes
- Improve management of inventories reaching from receiving products to storage and delivering
- See that movement to the end-user adds value
- Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity
- Understand the appropriate Inventory methods to be applied
- Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process
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 & Benefits Analysis
- Developing Inventory Policies
- 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
- 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
- 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 and Managed Inventory
DAY 1:
DAY 2:
DAY 3:
DAY 4:
DAY 5:
Our Methodology
- Make coaching and monitoring innovative and using modern
- Media training also using on the go training by using interactive means and focusing on
- The exercises, practical applications and real situations study
- Live delivery method, instructor-led training
- Experienced consultant, trainers, and professional
- Qualified trainer with high-level experience
Attendance Reports
- Send daily attendance reports to training departments
- Send full attendance report to training dep. by the end of the course
- Attend 100 % from the course days also provide daily
- Issue attendance certificate for participant who attend minimum 80% from the course duration
Pre/Post Reports
- Pre- assessment before starting training
- Post assessment after finish training
- Full report for the deferent between Pre-& Post assessment
Who Should Attend
- New to Managing Inventory
- Non inventory people who need to gain an awareness of the issues and key drivers of stock control operations
- Inventory, Stock, Supply Chain, Logistics, Warehouse and Distribution Professionals
