Practical Inventory & Warehouse Management
This 2-day course will cover the most important aspects of inventory management from warehouse design and operations through forecasting requirements and parts variety reduction to evaluating inventory practices and building an effective inventory management plan of action.
...The course is designed to help participants understand the financial impacts of inventory and the risks in both over and under holding of inventory - the management of inventory, including lead time management, demand planning and interfacing with other functional groups directly and indirectly involved in inventory planning and operations. The course will also give participants a good grasp of the importance of effective Warehouse Management in minimizing the cost associated with the storing, moving and transporting of goods into and out of the warehouse storage locations.
Two Days
On Campus
Enquire Form
The course is designed to help participants understand the financial impacts of inventory and the risks in both over and under holding of inventory - the management of inventory, including lead time management, demand planning and interfacing with other functional groups directly and indirectly involved in inventory planning and operations. The course will also give participants a good grasp of the importance of effective Warehouse Management in minimizing the cost associated with the storing, moving and transporting of goods into and out of the warehouse storage locations.
1. Introduction
• What is Inventory and why keep inventory?
• Describe the major types of inventory that are to be found in an enterprise and the reasons for their existence
• Inventory as Money
• Describe the role of an Inventory Manager
2. Warehouse and Inventory Operations
• Define the information needed to manage inventories effectively
• Monitoring inventory movements
• Receipt and issue of inventory
• Systems to replenish inventory
• How much to order
3. Managing and Forecasting Inventory
• Demand management
• Lead-time management
• Describe how improving communications with Supply-Chain Partners can reduce uncertainty and inventory levels
• The links to inventory management of Enterprise Resource Management Systems such as ERP, MRP, DRP and JIT
4. Inventory Planning
• Service level
• Categorization technique
• Inventory Management Action Plan
• Key performance indicators
5. Warehouse Planning
• Objectives Of warehouse management
• Warehouse location and acquisition options
• Warehouse design
• Warehouse layout
• Warehouse materials handling and equipment
• Warehouse security
• 5s Technique
Managers, executives and officers in Materials Management, Stock Control, Warehouse & Logistics, Inventory; Internal Auditors, Product Specialists, Stock-takers, and Assessors whose functions and responsibilities are involved in one way or another in planning, organizing, controlling, management and supervision of inventory, material, and stockholding in the organization.
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By the end of this training programme, participants will be able to apply the four key aspects of inventory management, namely:
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Optimize Inventory Levels
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Build an Inventory Management Plan
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Design & Manage Warehouse Operations
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Increase Accuracy, Traceability & Reduce Parts Variety
