Inventory Planning and Stock Control

• Plan and Control stock successfully and cost effectively using proven techniques of inventory management
• Forecast demand and control lead time
• Classify, count and reduce inventory
• Reduce inventory investment and surplus
• Use the right key Performance Indicators (KPIs) for the measurement and evaluation of the inventory department

CONTENT

Introduction to Inventory Management

Objectives and Responsibilities of Inventory Management

Customer Service in Inventory Management

Inventory Management

Description and Classification of Inventory

Types of Inventory

 The ABC Inventory Classification

Materials Specifications/Cataloguing

Forecasting Demand and Lead Time

Techniques of Forecasting

Control of Lead Time

Inventory Systems

Inventory Costs

The Max-Min System

When and How Much to Order

Controlling Safety Stocks

Counting and Controlling Inventory

Counting Methods and Accuracy

Periodic and Cycle Counting

Reducing Inventory Investment

Identification and Disposal of Surplus

Material Requirement Planning (MRP)

Just-In-Time (J.I.T) Method

Measuring Inventory Management Performance

Key Performance Indicators (KPIs) and Targets

Qualities of the Inventory Specialist

FOR WHOM: Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Date:

1ST BATCH                        23rd – 26th July, 2019                                                 

2ND BATCH                       22nd - 25th January, 2019