Training Course: Materials Management & Inventory Control Workshop

Introduction

This training workshop provides a comprehensive introduction to inventory management and aims to equip participants with functional knowledge and understanding of inventory management principles, including control, roles, responsibilities, and techniques that contribute to enhancing inputs into the enterprise's comprehensive supply chain strategy. Additionally, the workshop covers the roles and responsibilities of a materials manager, a key function in the supply chain, and effective management that leads to achieving business objectives and ensuring customer satisfaction.

 Workshop Objectives

• Gain a deeper understanding of the objectives and goals of inventory management.
• Discover tools and techniques for effective inventory control.
• Learn how to manage and monitor inventory accuracy.
• Implement the inventory management process within your organization.
• Plan and monitor inventory levels effectively.
• Understand material control in inventory management.
• Familiarize yourself with material requirements planning principles.
• Explore key scheduling management methods.

Workshop Outlines

Day 1: Inventory and Supply Chain

• Introduction to inventory management: Understanding the meaning of material management and its impact on the overall supply chain strategy.
• Types of stocks.
• Demand fluctuations.
• Replenishment in networks.
• Flow management.
• First and second-tier supply chains.
• Fundamentals of supply chain management.
• Inventory and statistics.
• Concept of service level.
• Key inventory concepts.

Day 2: Inventory Renewal Methods and Systems

• Basic mechanics of inventory systems.
• Inventory time curve.
• Components of inventory.
• Investing in stocks.
• Fixed order quantity systems.
• Time-phased order point systems.
• Material requirements planning (MRP) systems.
• Inventory receipts.

Day 3: Inventory Performance

• Inventory assessment.
• Inventory level evaluation.
• Models for implementing inventory control.
• Setting inventory goals.
• Inventory-related questions.
• Inventory performance indicators in warehouses/stores.
• Inventory planning strategies.

Day 4: Inventory Improvements

• Using the supply chain effectively.
• Applying the theory of constraints.
• Enhancing inventory processes.
• Call and remote measurement techniques.
• Electronic data exchange and information and communications technology.
• Keys to reducing inventory levels.
• The seven rules for inventory planning.
• Inventory planning model.

Day 5: Business Concepts and Planning

• Schedule of emerging manufacturing techniques.
• Key manufacturing issues.
• Concept of supply chain management.
• Classification of operations.
• Business planning workshops.
• Material Requirements Planning (MRP).

Importance of Material Management

Effective material management is essential for optimizing efficiency and reducing costs within the supply chain. By understanding the responsibilities of a materials manager, organizations can improve their inventory control strategies, leading to better business outcomes and high levels of customer satisfaction.

Conclusion

This workshop presents an ideal opportunity to gain insights into material management and inventory control, empowering participants to comprehend the fundamental elements of both fields. This knowledge will enhance their ability to implement effective strategies in their organizations, ultimately contributing to their success in the marketplace.