Training Course: Professional Certificate Warehouse & Inventory Management

Introduction

Course Objectives of Professional Warehouse & Inventory

• Improve management of inventories reaching from receiving products to storage and delivering.
• Professionally manage the inventory and supply chain.
• Reduce cost, improve customer satisfaction, and increase safety and productivity.
• Understand the appropriate Inventory methods to be applied.
• Establish more accurate forecast demands and maximize the degree of service.

Professional Warehouse & Inventory Course Outlines

Day 1

Inventory and the Supply Chain

• Inventory Definitions and Importance.
• Inventory Flow in the Supply Chain.
• The Basic Rules of Successful Supply Chain.
• Supply Chain and Inventory Dynamics.
• Financial Management and Inventory.
• Statistics Application in Inventory Control.

Day 2

Key Components to Understanding Effective Inventory Control

• End-User Demand Analysis.
• Forecasting for Operations and Maintenance.
• Understanding Supply Lead Time.
• Cost & Benefits Analysis.
• Developing Inventory Policies.
• The Need for Inventory in Organizations.

Day 3

Inventory Mechanics, Methods, and Systems

• Basic Mechanics of Inventory Systems.
• Establishing Order Quantity.
• Implications of Free Stock in Inventory.
• Simple Replenishment Methods, for example, Min / Max.
• Replenishment Methods, Reorder Point and Reorder Level (ROP / ROL).
• Requirements Planning Systems, Bills of Material, and Inventory Planning.
• Class Assignment Inventory Control Methods.

Day 4

Establishing Stock Control

• Establishing Stock Checking.
• Developing Stock Accuracy.
• Stock Tolerances and Approvals.
• Stock Reconciliations / Discrepancies.
• Identifying Surplus and Obsolescent Stock.
• Identifying Different Storage Conditions.
• Understanding Stock Coding.
• Stock Variety Reductions.

Day 5

Understanding Inventory Strategies

• Creating an Inventory Policy.
• Incoterms and the Supply Chain Rules.
• Vendor Managed Inventory (VMI) and Co-Managed Inventory (CMI).

Inventory Improvements

• Using the Supply Chain.
• Using the Theory of Constraints.
• Practical Inventory Improvements.
• Keys to Reducing Stock Levels.
• Model for Planning Inventory.