/  Best Practices In Inventory Management Training

Best Practices In Inventory Management Training

BMC Training provides a training course in Best Practices In Inventory Management in Warehouse , Logistics , Supply Chain and Inventory

Course Title
Venue
Start Date
End Date
  • Kuala Lumpur
    21 - 10 - 2018
    2 - 11 - 2018
  • Istanbul
    7 - 10 - 2018
    25 - 10 - 2018
  • Paris
    7 - 10 - 2018
    25 - 10 - 2018
  • Muscat
    21 - 10 - 2018
    2 - 11 - 2018
  • London
    25 - 11 - 2018
    13 - 12 - 2018
  • Dubai
    4 - 11 - 2018
    22 - 11 - 2018
  • Kuala Lumpur
    9 - 12 - 2018
    27 - 12 - 2018
  • Istanbul
    16 - 12 - 2018
    3 - 1 - 2019
  • Paris
    16 - 12 - 2018
    3 - 1 - 2019
  • Muscat
    9 - 12 - 2018
    27 - 12 - 2018
  • London
    20 - 1 - 2019
    7 - 2 - 2019
  • Dubai
    13 - 1 - 2019
    31 - 1 - 2019
  • Kuala Lumpur
    3 - 2 - 2019
    21 - 2 - 2019
  • Istanbul
    24 - 2 - 2019
    14 - 3 - 2019
  • Paris
    24 - 2 - 2019
    14 - 3 - 2019
  • Muscat
    3 - 2 - 2019
    21 - 2 - 2019
  • London
    10 - 3 - 2019
    28 - 3 - 2019
  • Dubai
    3 - 3 - 2019
    21 - 3 - 2019
  • Kuala Lumpur
    28 - 4 - 2019
    16 - 5 - 2019
  • Istanbul
    21 - 4 - 2019
    9 - 5 - 2019
  • Paris
    21 - 4 - 2019
    9 - 5 - 2019
  • Muscat
    28 - 4 - 2019
    16 - 5 - 2019
  • London
    5 - 5 - 2019
    23 - 5 - 2019
  • Dubai
    26 - 5 - 2019
    13 - 6 - 2019
  • Kuala Lumpur
    16 - 6 - 2019
    4 - 7 - 2019
  • Istanbul
    9 - 6 - 2019
    27 - 6 - 2019
  • Paris
    9 - 6 - 2019
    27 - 6 - 2019
  • Muscat
    16 - 6 - 2019
    4 - 7 - 2019
  • London
    14 - 7 - 2019
    1 - 8 - 2019
  • Dubai
    21 - 7 - 2019
    8 - 8 - 2019
  • Kuala Lumpur
    25 - 8 - 2019
    12 - 9 - 2019
  • Istanbul
    4 - 8 - 2019
    22 - 8 - 2019
  • Paris
    4 - 8 - 2019
    22 - 8 - 2019
  • Muscat
    25 - 8 - 2019
    12 - 9 - 2019
  • London
    1 - 9 - 2019
    19 - 9 - 2019
  • Dubai
    8 - 9 - 2019
    26 - 9 - 2019

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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