Inventory Management - The Nuts and Bolts

Churchill Square Training & Development

Course

Online

£ 39 VAT inc.

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Description

  • Type

    Course

  • Methodology

    Online

  • Start date

    January

No business can survive very long without an effective program of controls over the parts and materials that are used in producing or distributing goods and services of the firm. Like many other things that depend on human interpretation, “control” means different things to different individuals. This is an introductory workshop for you, the warehouse or stockroom manager, the person in charge of what comes in and goes out of your company. You want a smooth and cost-effective operation, with enough products on hand to satisfy needs without stockpiling too much.

This course will discuss all aspects of inventory management, including common terms, the inventory cycle, how to maintain inventory accuracy, and what some of the latest trends are

Facilities

Location

Start date

Online

Start date

JanuaryEnrolment now open

About this course

Understand terms that are frequently used in warehouse management
Identify the goals and objectives of inventory management and measure your process against these goals
Calculate safety stock, reorder points, and order quantities
Evaluate inventory management systems
Identify the parts of the inventory cycle
Better maintain inventory accuracy

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Subjects

  • Inventory Management
  • Management
  • Business management
  • Sales Techniques
  • Materials
  • Facilities Management
  • Facilitation Skills
  • Business team
  • Business model
  • Business Analyst
  • Invetory
  • Types of Inventory
  • Effectiveness
  • Performance Management
  • Customer Service

Course programme

COURSE OVERVIEW

Course Overview

You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.

What is Inventory?

To begin, participants will explore what inventory is and what key concepts (including LIFO, FIFO, backorders, and lead time) mean. Participants will also look at the goals and objectives of inventory management and analyze where their system can improve.

Types of Inventory

This session will explore anticipation, fluctuation, lot size, and transportation inventories.

Key Players

Next, participants will discuss what roles customers, top management, and employees play in the inventory management system.

Setting up the Warehouse

This session will discuss the objectives of a warehouse and ways to maintain location accuracy.

What Makes a Good Inventory Management System?

Next, participants will discuss types of inventory management systems and criteria for a good system.

The Warehouse Inventory Cycle

This session will introduce the warehouse inventory cycle of demand, receiving, validation, and put-away.

Identifying Demand

In this session, participants will learn how to determine order quantities, re-order points, and safety stock through discussion and a case study.

The Receiving Process

Next, participants will learn what should happen when materials are received into inventory.

Validating Inventory

This session will explore ways to validate the quality of merchandise.

The Put-Away Process

Participants will discuss the five goals of the put-away process.

Maintaining Inventory Accuracy

Next, participants will learn ways to keep their inventory organized and controlled.

The Outbound Process

This session will look at the phases of the outbound process: picking, packing, loading, and shipping.

Industry Trends

To conclude the workshop, we will explore some of the latest inventory management trends, including online systems and just-in-time principles.

Workshop Wrap-Up

At the end of the course, students will have an opportunity to ask questions and fill out an action plan.

Additional information

WHAT TOPICS ARE COVERED:
-What inventory is and types of inventory-Setting up the warehouse-What makes a good inventory management system?-The warehouse inventory cycle-Identifying demand-The receiving process and validating inventory-The put-away process and maintaining accuracy

See related categories

Inventory Management - The Nuts and Bolts

£ 39 VAT inc.

The best Sales Management courses

See all

See all