The purpose of this course is to:

• Enable delegates to evaluate Inventory visibility levels and segmentation approaches
• Examine stocking level criteria through assignment practices
• Types of tools used for inventory optimization
• Current integration practices between materials management systems and asset management systems
• Understanding that minimizing inventory holdings reduces overhead costs and, hence, improves the profitability performance of the enterprise
• Understand and implement the "world class" tools for managing inventory in the supply chain

Organisational Impact

• Examine the link of inventory in the company supply chain operations and activities
• Analyze the key areas of operation
• Identify and understand key performance indicators
• Succeed in improving operations
• Apply the right cost and service balance
• Gain a competitive advantage

This Inventory and Stock Control Management training course will help you learn how to:

• Improve management of inventories reaching from receiving products to storage and delivering
• See that movement to the end-user adds value
• Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity.
• Look “outside of the box”
• Understand the appropriate Inventory methods to be applied
• Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process

Personal Impact

Participants attending this Inventory and Stock Control Management training course will learn:

• How to analyze stock and inventory?
• How to make productivity improvements?
• To understand the role of inventory in the supply chain
• Balancing cost and service requirements
• A framework for continual improvement
• Best in class practices

• Inventory Managers
• Stock Control Supervisors
• Supply chain and logistics professionals
• Warehouse and Distribution professionals
• Those non-inventory people who need to gain an awareness of the issues and key drivers of stock control operations

This Inventory & Stock Control Management training course will be presented by a competent professional who has designed successful inventory control measures.

Participants will learn by active participation during the training course through the use of exercises, questionnaires, syndicate and group discussion, training videos and practical on-hand application of inventory and stock control tools.

Day One

Inventory and the Supply Chain

• Inventory Definitions and Importance
• Inventory Flow in the Supply Chain
• The Basic Rules of Successful Supply Chain
• Supply Chain and Inventory Dynamics
• Financial Management and Inventory
• Statistics Application in Inventory Control
• Truths on Inventory Visibility

Day Two

Key Components to Understanding Effective Inventory Control

• End-User Demand Analysis
• Forecasting for Operations and Maintenance
• Understanding Supply Lead Time
• Cost & Benefits Analysis
• Developing Inventory Policies
• The Need for Inventory in Organizations

Day Three

Inventory Mechanics, Methods and Systems

• Basic Mechanics of Inventory Systems
• Establishing Order Quantity
• Implications of Free Stock in Inventory
• Simple Replenishment Methods, for example, Min / Max
• Replenishment Methods, Reorder Point and Reorder Level (ROP / ROL)
• Requirements Planning Systems, Bills of Material and Inventory Planning
• Class Assignment Inventory Control Methods

Day Four

Establishing Stock Control

• Establishing Stock Checking
• Developing Stock Accuracy
• Stock Tolerances and Approvals
• Stock Reconciliations / Discrepancies
• Identifying Surplus and Obsolescent Stock
• Identifying Different Storage Conditions
• Understanding Stock Coding
• Stock Variety Reductions

Day Five

Understanding Inventory Strategies

• Creating Inventory Policy
• Incoterms and the Supply Chain Rules
• Understanding Vendor Managed Inventory (VMI) and Co Managed Inventory (CMI)

Inventory Improvements

• Using the Supply Chain
• Using the Theory of Constraints
• Practical Inventory Improvements
• Keys to Reducing Stock Levels
• Model for Planning Inventory

CDGA attendance certificate will be issued to all attendees  completing minimum of 80% of the total course duration