An Intensive 5-day Training Course
Inventory & Stock Control Management
Improving Business Productivity through Optimization
Course Introduction
Inventory and Stock Control Management is critical in operations as inventory is a current asset to a firm. Carrying inventory comes with a certain degree of risk. This risk is a component of the cost of carrying inventory. When a company stocks items in the warehouse, there is always the risk that the items may fall in real value during the period they are stored. If a company stored parts for their work centers or equipment, the parts in the warehouse could be worth far less than the price that was originally paid and any losses, excess, obsolete and miss-managed inventory means a reduction in the company equity.
This Inventory and Stock Control Management training course focuses on the techniques when companies are looking to reduce costs as at times, they ignore the inventory sitting in their warehouses and the cost of carrying that inventory. It is important for businesses to carefully examine all the costs of carrying inventory and determine where they can make changes to reduce that cost and help with the company’s bottom line.
The purpose of this Inventory and Stock Control Management training course is to:
- Enable delegates to evaluate Inventory visibility levels and segmentation approaches
- Examine stocking level criteria through assignment practices
- Types of tools used for inventory optimization
- Current integration practices between materials management systems and asset management systems
- Understanding that minimizing inventory holdings reduces overhead costs and, hence, improves the profitability performance of the enterprise
- Understand and implement the "world class" tools for managing inventory in the supply chain
Objectives
This Inventory and Stock Control Management training course will help you learn how to:
- Improve management of inventories reaching from receiving products to storage and delivering
- See that movement to the end-user adds value
- Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity.
- Look “outside of the box”
- Understand the appropriate Inventory methods to be applied
- Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process
Training Methodology
This Inventory & Stock Control Management training course will be presented by a competent professional who has designed successful inventory control measures.
Participants will learn by active participation during the training course through the use of exercises, questionnaires, syndicate and group discussion, training videos and practical on-hand application of inventory and stock control tools.
Organisational Impact
- Examine the link of inventory in the company supply chain operations and activities
- Analyze the key areas of operation
- Identify and understand key performance indicators
- Succeed in improving operations
- Apply the right cost and service balance
- Gain a competitive advantage
Personal Impact
Delegates attending this Inventory and Stock Control Management training course will learn:
- How to analyze stock and inventory?
- How to make productivity improvements?
- To understand the role of inventory in the supply chain
- Balancing cost and service requirements
- A framework for continual improvement
- Best in class practices
Who Should Attend?
This Inventory and Stock Control Management training course will greatly benefit:
- Inventory Managers
- Stock Control Supervisors
- Supply chain and logistics professionals
- Warehouse and Distribution professionals
- Those non-inventory people who need to gain an awareness of the issues and key drivers of stock control operations
Course Outline
Day One
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
- Truths on Inventory Visibility
Day Two
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 Three
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 Four
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 Five
Understanding Inventory Strategies
- Creating Inventory Policy
- Incoterms and the Supply Chain Rules
- Understanding 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
Certificate
Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.
Accreditation
In association with
This training course is also part of below 10-day title:
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FREQUENTLY ASKED QUESTIONS
To check on availability please call Registrar’s Office at +971 50 985 0174. If you have any questions or enquiries please feel free to contact us
- Telephone: +971 50 985 0174
- E-mail: [email protected]
Yes, we provide assistance in securing both hotel reservations & entry visa on all our international training venues, for delegates attending our training courses. For further information / assistance, please contact our Customer Service at:
- Telephone: +971 50 985 0174
- E-mail: [email protected]
Yes, Oxford Management Centre is accredited by the following professional bodies;
National Association of State Board of Accountancy (NASBA)
The Oxford Management Centre is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit.
Yes, discounts are available. For further information please call +971 50 985 0174 or email, [email protected]
Note: Discounts are not applicable with any other special offer that may be available.
There are 2 easy ways to register:
- Online: Select the training course you want to register for, Click the “Book Your Place” button on the course page, complete the form and click submit.
- E-mail: Send your details to [email protected]
We request that all cancellations be made at least one week before the class start date. You may reschedule this class without any penalty. If not, a $250 fee will be charged for cancellations received less than one week before a class begins and for no-shows. Cancellation penalties and any fees incurred by Oxford Management Centre will be deducted from refunds.
For more information request, email [email protected] or call +971 50 985 0174.
The classroom training fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation and transportation are not included in the training course fees.
While, online training fees cover the course presentation and digital documentation and relevant materials.
The Oxford Management Centre Certificate of Completion with corresponding CPE credits shall be awarded to delegates who has successfully completed the training course.
Payment must be received before the training course commences. You can make payment by bank draft, cash, credit card or wire transfer.
Note: If the payment is not received, Oxford Management Centre has the right to refuse admission.
Upon receipt of your registration form, we will send you the following by e-mail:
- Registration Confirmation
- Invoice/Receipt (where appropriate)
If you register online you will receive an e-mail within 24 hours confirming your registration.
