/  Strategic Inventory Management
Pay Attention Please ! The course location "Hyde Park" is subject to availability . We may change the course location if there is no availability and we will let you know about the location changing directly if it changes. The exact course time will be clear before one week prior to course start date.
BMC Training provides on 20 OCT 2019 Strategic Inventory Management course [Warehouse , Logistics , Supply Chain and Inventory] in London,UK

Objectives :

  • 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.
  • Understand the importance of inventory & the role it plays in the profitability of the company
  • Examine the most appropriate method for managing an item
  • Understand the value chain in inventory management
  • Apply best methods to optimise the investment in inventory
  • Examine the appropriate inventory management technique for each type of item

The Contents:

Inventory in the Value Chain

  • The purpose of inventory in the value chain
  • Classification of inventory
  • Procedure for eliminating obsolete inventory
  • Pareto Law in identifying product Classification
  • Location of inventory
  • Using Economic Order Quantity on managing inventory order levels

Demand Planning

  • Basic forecasting methods
  • Customer segmentation
  • Hierarchy of planning
  • Aggregate planning
  • Maintenance & Inventory planning meeting
  • Master Scheduling


  • Principles of forecasting
  • Effect of lead time on the forecasting process
  • Quantitative forecasting
  • Qualitative forecasting
  • Tracking forecast accuracy
  • Determining safety stock

Inventory Recording

  • Period stock take
  • Cycle counting
  • Perpetual recording
  • Utilizing Bar-cades to manage inventory and movements
  • The use of Radio Frequency Identification (RFID) for recording inventory movement
  • Inventory accounting

Performance Measurement

  • Stock turnover rate
  • Customer service
  • Cost of operations
  • Measuring the effectiveness of your system
  • How to use the measurements
  • Class exercise on selective inventory management

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

Related Training Courses

Course Details
  • Code WLS60
  • TIME    08:00 AM - 11:15 AM
  • DATE    OCT 20 2019 - OCT 31 2019
  • London , Hyde Park
  • +44 2087206971
  • Support@bmc.net

Fees Per Person

11900 GBP + VAT
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