Inventory Control and Inventory Management Masterclass

INTRODUCTION

Inventory Management is crucial for successful procurement and supply chain management; nonetheless, Inventory Management is frequently misunderstood. As a result, excessive inventories are kept, resulting in cost increases, product obsolescence, and so on.

COURSE METHODOLOGY

This course is designed in the form of workshop which will includes a variety of learning tools to help participants function effectively and efficiently in a multifunctional environment through various methodologies including;

• Short lectures
• Brainstorming
• Case studies
• Group activities
• Role playing

COURSE OBJECTIVES

The attendees of this Certificate Program will be able to:

• List the inventory management objectives and their influence on cost and customer service.
• Perform correct inventory classification and follow best practices for item specification/cataloguing.
• Use forecasting tools to better manage lead times and estimate demand.
• Determine the optimal ordering amount as well as safety stocks and reorder points.
• Cycle counts should be performed, inventory record accuracy should be improved, and stockpiles should be reduced.
• List numerous inventory-reduction approaches, such as JIT (Just-In-Time).
• To assess and improve inventory performance, use Key Performance Indicators (KPIs).

 WHO SHOULD ATTEND THIS COURSE?

• Project Managers
• Operations Managers
• Procurement and logistics professionals
• Supply chain manager
• Management Representatives
• Procurement Professionals
• Logistic Professionals
• Warehouse & Stores Managers
• Purchasing Professionals
• Supply Chain Professionals
• Anyone who is seeking improvement in skills for enhanced performance and career development

TARGETED SKILLS

• Planning logistics
• Logistics work processes
• Inventory management
• Assessment and planning of requirements
• Forecasting demand
• Logistics management
• SCM
• Supplier and buyer relationship