Training Course: Materials Management & Inventory Control Workshop

Introduction

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

Objectives

• A deeper understanding of the objectives and goals of inventory management.
• Tools and techniques for inventory management.
• Learning how to manage and monitor inventory accuracy.
• Implementing the inventory management process within your organization.
• Planning and monitoring inventory levels and planning.
• Material control in inventory.
• Material requirements planning principles.
• Key scheduling management methods.

Outlines

Day 1

 Inventory and Supply Chain

• Introduction to inventory management.
• Types of stocks.
• Demand fluctuations.
• Replenishment in networks.
• Flow management.
• First and second-tier supply chains.
• Supply chain fundamentals.
• 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 systems.
• Inventory receipts.

Day 3

 Inventory Performance

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

Day 4

Inventory Improvements

• Using the supply chain.
• Using the theory of constraints.
• Inventory process improvements.
• Call and remote measurement.
• 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.
• Supply chain management concept.
• Classification of operations.
• Business planning workshops.
• MRP - Material Requirements Planning.