TRAINING OBJECTIVE :
Understand the fundamental principles and techniques of inventory control & management
Understand the fundamental principles and practices of effective storeroom and warehouse management
Be able to improve both personal & organizational effectiveness in carrying out inventory and warehousing functions
PROGRAM OUTLINE
Day 1 9am – 5pm
ELEMENTS AND FOCUS OF MODERN INVENTORY MANAGEMENT
o Inventory manager as a Money Manager
o Inventories Place on the Organizational Balances Sheet
o The Profit Impact of Good Inventory Management
o Reasons for having inventory
o The Life Cycle of Inventory
ACHIEVING STRATEGIC OBJECTIVES THROUCH INVENTORY MANAGEMENT
o The Cost of Carrying Inventory (K- Cost)
o Inventory Management vs. Inventory Control
o Identifying your Inventory Management styles
o Building your Stock to Non-Stock Profile
o Understanding your Stock to Non Stock Profile
o Using the Non Stock Stocking Criteria
Day 2 9am – 5pm
STOCK CONTROL METHODS AND METHODOLOGY
o Demand Driven Inventory Management
o Independent vs. Dependent Demand
o What to buy? When to? And how much to buy?
o Identifying Different Forecasting Techniques
o Monitoring and Reporting on Key Inventory Indicators
o Inventory Management for Manufacturing Organizations
STOREROOM/WAREHOUSE MANAGEMENT
o Physical Layout of Storeroom/Warehouse
o Stock Classification Systems
o Stock Coding Systems & Transactions Recording
o Physical Stock Taking vs. Cycle Counting
o Stores Warehousing Location and Layout
o Dealing with Excess and Obsolete Inventory
o Inventory Record Accuracy
DEALING WITH FRAUD IN YOUR WAREHOUSE
