Best Practices In Inventory Management Course

Explore best practices in inventory management. Enroll in this course to acquire skills in optimizing inventory control, forecasting, and replenishment strategies. BMC Training offers Best Practices In Inventory Management Course in Warehouse , Logistics , Supply Chain and Inventory Courses.

  • English
  • 153 Training Sessions
  • Confirmed
  • Three Weeks
Best Practices In Inventory Management Training Course

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London , UK 28 - Jul - 2024 15 - Aug - 2024 0 GBP
Madrid , Spain 28 - Jul - 2024 15 - Aug - 2024 0 GBP
Munich , Germany 28 - Jul - 2024 15 - Aug - 2024 0 GBP
Berlin , Germany 28 - Jul - 2024 15 - Aug - 2024 0 GBP
Washington , United States 21 - Jul - 2024 8 - Aug - 2024 0 GBP
New York , United States 28 - Jul - 2024 15 - Aug - 2024 0 GBP
Amsterdam , Netherlands 28 - Jul - 2024 15 - Aug - 2024 0 GBP
London , UK 4 - Aug - 2024 22 - Aug - 2024 0 GBP
Madrid , Spain 4 - Aug - 2024 22 - Aug - 2024 0 GBP
Munich , Germany 4 - Aug - 2024 22 - Aug - 2024 0 GBP
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Barcelona , Spain 11 - Aug - 2024 29 - Aug - 2024 0 GBP
Zurich , Switzerland 11 - Aug - 2024 29 - Aug - 2024 0 GBP
Istanbul , Turkey 18 - Aug - 2024 5 - Sep - 2024 0 GBP
Bali , Indonesia 18 - Aug - 2024 5 - Sep - 2024 0 GBP
Singapore , Singapore 18 - Aug - 2024 5 - Sep - 2024 0 GBP
Dubai , UAE 25 - Aug - 2024 12 - Sep - 2024 0 GBP
Paris , France 25 - Aug - 2024 12 - Sep - 2024 0 GBP
Hong Kong , Hong Kong 25 - Aug - 2024 12 - Sep - 2024 0 GBP
New York , United States 4 - Aug - 2024 22 - Aug - 2024 0 GBP
Amsterdam , Netherlands 4 - Aug - 2024 22 - Aug - 2024 0 GBP
Washington , United States 18 - Aug - 2024 5 - Sep - 2024 0 GBP
Dubai , UAE 22 - Sep - 2024 10 - Oct - 2024 0 GBP
Paris , France 22 - Sep - 2024 10 - Oct - 2024 0 GBP
Hong Kong , Hong Kong 22 - Sep - 2024 10 - Oct - 2024 0 GBP
Kuala Lumpur , Malaysia 1 - Sep - 2024 19 - Sep - 2024 0 GBP
Rome , Italy 1 - Sep - 2024 19 - Sep - 2024 0 GBP
Barcelona , Spain 1 - Sep - 2024 19 - Sep - 2024 0 GBP
Zurich , Switzerland 1 - Sep - 2024 19 - Sep - 2024 0 GBP
Istanbul , Turkey 8 - Sep - 2024 26 - Sep - 2024 0 GBP
Bali , Indonesia 8 - Sep - 2024 26 - Sep - 2024 0 GBP
Singapore , Singapore 8 - Sep - 2024 26 - Sep - 2024 0 GBP
London , UK 15 - Sep - 2024 3 - Oct - 2024 0 GBP
Madrid , Spain 15 - Sep - 2024 3 - Oct - 2024 0 GBP
Munich , Germany 15 - Sep - 2024 3 - Oct - 2024 0 GBP
Berlin , Germany 15 - Sep - 2024 3 - Oct - 2024 0 GBP
Washington , United States 8 - Sep - 2024 26 - Sep - 2024 0 GBP
New York , United States 15 - Sep - 2024 3 - Oct - 2024 0 GBP
Amsterdam , Netherlands 15 - Sep - 2024 3 - Oct - 2024 0 GBP
London , UK 20 - Oct - 2024 7 - Nov - 2024 0 GBP
Madrid , Spain 20 - Oct - 2024 7 - Nov - 2024 0 GBP
Munich , Germany 20 - Oct - 2024 7 - Nov - 2024 0 GBP
Berlin , Germany 20 - Oct - 2024 7 - Nov - 2024 0 GBP
Kuala Lumpur , Malaysia 27 - Oct - 2024 14 - Nov - 2024 0 GBP
Rome , Italy 27 - Oct - 2024 14 - Nov - 2024 0 GBP
Barcelona , Spain 27 - Oct - 2024 14 - Nov - 2024 0 GBP
Zurich , Switzerland 27 - Oct - 2024 14 - Nov - 2024 0 GBP
Istanbul , Turkey 6 - Oct - 2024 24 - Oct - 2024 0 GBP
Bali , Indonesia 6 - Oct - 2024 24 - Oct - 2024 0 GBP
Singapore , Singapore 6 - Oct - 2024 24 - Oct - 2024 0 GBP
Dubai , UAE 13 - Oct - 2024 31 - Oct - 2024 0 GBP
Paris , France 13 - Oct - 2024 31 - Oct - 2024 0 GBP
Hong Kong , Hong Kong 13 - Oct - 2024 31 - Oct - 2024 0 GBP
New York , United States 20 - Oct - 2024 7 - Nov - 2024 0 GBP
Amsterdam , Netherlands 20 - Oct - 2024 7 - Nov - 2024 0 GBP
Washington , United States 6 - Oct - 2024 24 - Oct - 2024 0 GBP
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Paris , France 17 - Nov - 2024 5 - Dec - 2024 0 GBP
Hong Kong , Hong Kong 17 - Nov - 2024 5 - Dec - 2024 0 GBP
Kuala Lumpur , Malaysia 24 - Nov - 2024 12 - Dec - 2024 0 GBP
Rome , Italy 24 - Nov - 2024 12 - Dec - 2024 0 GBP
Barcelona , Spain 24 - Nov - 2024 12 - Dec - 2024 0 GBP
Zurich , Switzerland 24 - Nov - 2024 12 - Dec - 2024 0 GBP
Istanbul , Turkey 3 - Nov - 2024 21 - Nov - 2024 0 GBP
Bali , Indonesia 3 - Nov - 2024 21 - Nov - 2024 0 GBP
Singapore , Singapore 3 - Nov - 2024 21 - Nov - 2024 0 GBP
London , UK 10 - Nov - 2024 28 - Nov - 2024 0 GBP
Madrid , Spain 10 - Nov - 2024 28 - Nov - 2024 0 GBP
Munich , Germany 10 - Nov - 2024 28 - Nov - 2024 0 GBP
Berlin , Germany 10 - Nov - 2024 28 - Nov - 2024 0 GBP
Washington , United States 3 - Nov - 2024 21 - Nov - 2024 0 GBP
New York , United States 10 - Nov - 2024 28 - Nov - 2024 0 GBP
Amsterdam , Netherlands 10 - Nov - 2024 28 - Nov - 2024 0 GBP
London , UK 15 - Dec - 2024 2 - Jan - 2025 0 GBP
Madrid , Spain 15 - Dec - 2024 2 - Jan - 2025 0 GBP
Munich , Germany 15 - Dec - 2024 2 - Jan - 2025 0 GBP
Berlin , Germany 15 - Dec - 2024 2 - Jan - 2025 0 GBP
Kuala Lumpur , Malaysia 22 - Dec - 2024 9 - Jan - 2025 0 GBP
Rome , Italy 22 - Dec - 2024 9 - Jan - 2025 0 GBP
Barcelona , Spain 22 - Dec - 2024 9 - Jan - 2025 0 GBP
Zurich , Switzerland 22 - Dec - 2024 9 - Jan - 2025 0 GBP
Istanbul , Turkey 1 - Dec - 2024 19 - Dec - 2024 0 GBP
Bali , Indonesia 1 - Dec - 2024 19 - Dec - 2024 0 GBP
Singapore , Singapore 1 - Dec - 2024 19 - Dec - 2024 0 GBP
Dubai , UAE 8 - Dec - 2024 26 - Dec - 2024 0 GBP
Paris , France 8 - Dec - 2024 26 - Dec - 2024 0 GBP
Hong Kong , Hong Kong 8 - Dec - 2024 26 - Dec - 2024 0 GBP
New York , United States 15 - Dec - 2024 2 - Jan - 2025 0 GBP
Amsterdam , Netherlands 15 - Dec - 2024 2 - Jan - 2025 0 GBP
Washington , United States 1 - Dec - 2024 19 - Dec - 2024 0 GBP

Course Syllabus

Introduction

Good management of inventory enables companies to improve their customer service, cash flow and profitability. 'Best Practices in Inventory Management' outlines the basic techniques, how and where to apply them, and provides advice to ensure they work to produce the desired effect in practice.

On completion of this course you should be able to: 

  • Understand how inventory management techniques can be used in a wide variety of situations, particularly in stores where the inventory can be anything from fast moving products to slow moving spares.
  • Define and discuss distribution warehousing and manufacturers' operations.
  • Explore the inventory control aspects included in the courses for the DPIM, COM, DLM, CPIM and other professional and academic qualifications.
  • Develop their understanding of stock control by seeing the techniques explained logically.
  • Learn how inventory structuring, individual item control, forecasting and co-ordination provide the base for logistics management.

Course Outline

The basis of inventory control

  • The role of inventory management
  • Objectives for inventory control
  • Profit through inventory management
  • Reasons for the current stock

Customer service

  • Meeting customer requirements
  • Measuring availability
  • Demand management

Managing the inventory

  • Using Pareto analysis for control
  • Stock cover
  • Practical methods for reducing stockholding
  • The approach – how to reduce stocks successfully

Just-in-time management

  • The zero inventory philosophy
  • JIT environment
  • Advantages of JIT
  • Stock control using JIT

Organization and management

  • Where stock control fits into the organiztion
  • Responsibilities
  • And targets
  • Inventory valuation
  • Skills and systems

Safety stocks

  • Learning from history
  • Normal demand patterns
  • Evaluation of safety stocks

Setting the right stock levels

  • Simple assessment of review levels
  • Managing lead times
  • Target stock levels

The changing role of purchasing

  • Modern supply practice
  • Supply partnerships
  • The ordering process
  • Order quantities
  • Purchasing processes

Forecasting demand

  • Options for assessing demand
  • Causes of forecasting techniques
  • Methods of improving forecasts

Historical forecasting techniques

  • Basic forecasting techniques
  • Weighted averages
  • Choosing the best forecast
  • Monitoring forecasts

Advanced forecasting methods

  • More forecasting tools
  • Forecasting for seasonal sales
  • Other methods

Material requirements planning – an alternative to forecasting

  • Avoiding uncertainty
  • Material requirements planning
  • Master planning
  • Batch sizes

The future – inventory and logistics

  • The basis of the lean supply chain
  • Logistics
  • Review

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