Training Course: Materials Management & Inventory Control Workshop

Introduction

Material management is a vital foundation for the success of any organization, as it significantly contributes to improving efficiency and reducing costs within the supply chain. This training workshop provides a comprehensive introduction to inventory management and material management, equipping participants with functional knowledge and a deeper understanding of the essential principles in these areas. It covers inventory control, roles, responsibilities, and techniques that contribute to enhancing inputs into the enterprise's overall supply chain strategy. Additionally, the workshop explores the responsibilities of a materials manager, a key role in the supply chain, and effective management practices that lead to achieving business objectives and ensuring customer satisfaction.

Course Objectives

By attending this course, participants will:

• Gain a deeper understanding of inventory management goals and the importance of material management in optimizing efficiency and reducing costs.
• Discover tools and techniques for effective inventory control to enhance supply chain performance.
• Learn how to manage and monitor inventory accuracy through advanced methods.
• Implement the inventory management process effectively within their organizations to achieve strategic objectives.
• Plan and monitor inventory levels effectively to ensure continuity in operations.
• Understand material control within inventory management systems and its contribution to supply chain success.
• Familiarize yourself with material requirements planning (MRP) principles and their impact on inventory management.
• Explore key scheduling methods to optimize inventory flows.

Course 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 inventory and their importance in material management.
• Demand fluctuations and how to manage them through efficient inventory control strategies.
• Replenishment systems and flow management within supply chains.
• First and second-tier supply chains and their effect on inventory management.
• Supply chain management basics and the relationship with inventory.
• Service level concepts in inventory management and the role of inventory control in achieving them.

Day 2: Inventory Replenishment Methods and Systems

• The basic mechanics of inventory systems and their role in material management.
• Inventory time curve and how to measure and optimize inventory flow.
• Components of inventory and their impact on inventory control strategies.
• Fixed order quantity systems and how they improve material management processes.
• Time-phased order point systems and strategies for implementing them.
• Material Requirements Planning (MRP) systems: Optimizing inventory and material flow.
• Best practices for inventory receipts and managing stock levels effectively.

Day 3: Inventory Performance

• Assessing inventory performance: Tools and techniques for evaluating inventory levels and performance.
• Models for implementing inventory control and achieving efficient material management.
• Setting inventory goals and establishing performance metrics.
• Inventory performance indicators in warehouses and stores.
• Inventory planning strategies to align with overall business objectives.

Day 4: Inventory Improvements

• Using the supply chain effectively to reduce costs and improve material management.
• Applying the theory of constraints to enhance inventory processes.
• Call and remote measurement techniques for evaluating inventory performance.
• Importance of electronic data exchange (EDI) and Information & Communication Technology (ICT) in improving inventory management.
• Keys to reducing inventory levels while maintaining service levels.
• The seven rules for inventory planning and how to apply them in practice.
• Inventory planning models to improve decision-making processes.

Day 5: Business Concepts and Planning

• Emerging manufacturing techniques and their impact on material management.
• Key manufacturing challenges and the role of inventory control in overcoming them.
• The concept of supply chain management and its impact on material management.
• Classification of operations and how it affects inventory control duties.
• Business planning workshops focused on material requirements planning (MRP) and material management strategies.

Why Attend this Course: Wins & Losses!

• Improved logistical performance: Gain the skills necessary to enhance material management and inventory control, making your organization more efficient and effective.
• Apply effective strategies: Learn how to implement advanced inventory systems and replenishment methods, including fixed order quantity systems and time-phased order point systems.
• Achieve operational efficiency: Learn to balance supply and demand, reducing excess inventory and costs, while improving profitability.
• Increase customer satisfaction: Apply modern inventory control practices to improve order accuracy, fulfillment rates, and customer service.
• Future-proof your inventory management: Gain the tools and knowledge needed to plan inventory effectively and ensure long-term success.

Conclusion

This course offers you a comprehensive understanding of material management and inventory control, providing you with the tools and knowledge needed to improve efficiency, reduce costs, and enhance customer satisfaction within your organization. Whether you're a materials management technician, a material management specialist, or a materials manager, this course is tailored to equip you with the expertise necessary to succeed in material management and inventory control.

Join us now to transform your approach to inventory management and material management and set your organization on the path to success!