Summary
This course provides an introduction to the Principles of Inventory Management and aims to give all delegates a functional knowledge and understanding of inventory management, control principles, roles, responsibilities, and techniques leading to greater input in the overall Supply Chain strategy of an organisation.
Duration
1 day
Description
Inventory Management is a key strategic enabler in a company's ability to design their manufacturing process, deliver to customer expectations and minimise overall costs. By using these techniques the company will gain better understanding across inventory management fundamentals, ordering techniques, replenishment policies, purchasing management and inventory performance measurements.
Who should attend?
As inventory management affects all aspects of manufacturing and service operations this course is aimed primarily at professionals from the disciplines of: Finance, Supply Chain, Procurement, Customer Service, Warehouse Management.
Course Outline
- Fundamentals of Inventory Management
- Purpose and functions of Inventory Management
- Inventory replenishment techniques
- Inventory Control Process
- Introduction to the tools and techniques of Inventory Management
- Performance metrics and calculations
- The hidden costs of Inventory Management
Benefits and Learning Objectives
Benefits to the Professional would be a greater understanding of the goals and objectives of inventory management, a good introduction to the tools and techniques of inventory management. You would learn how to manage and control inventory accuracy, identify and correct inventory bubbles and optimise inventory levels to support customer expectations.
Benefits to the Organisation would be the implementation of an inventory management process across your organisation, the capability to understand and implement Cost of Goods Reduction (COGS) programmes. To have trained resources to provide accurate and real time inventory reporting Improve working capital requirements and enhanced customer service.
Certification
Upon completion of the course you will receive an Industry Forum certificate of attendance.
