WAREHOUSE AND INVENTORY CONTROL MANAGEMENT IN A DIGITAL ERA

  • 01 Jun 2021 to 04 Jun 2021/
  • Procurement and Supply Chain Management

Warehouse management is the control of the day-to-day operations of a warehouse, such as the shipping, receiving, put-away, and picking of goods. Is it the same as Stock Control? The term is sometimes used interchangeably with stock control or inventory control. Inventory is any goods and materials a business keeps at hand to be able to meet customer demand. Inventory includes raw materials, work-in-progress, components, assemblies, finished and packaged goods, and maintenance/repair items necessary to support a production process.

Course Objectives

  • Understand the inventory risks and mitigation measures.
  • Understand how to conduct inventory analysis, including applying ABC analysis/ stratification and reduce inventory
  • Understand the fundamentals of inventory management control and its contribution to profitability/service delivery efficiency.
  • Understand how to forecast more accurately and set up the inventory replenishment cycle, including setting safety stock levels, reorder points, economic order quantities (EOQ) and lead time.
  • Understand how to measure inventory management performance using metrics such as inventory turnover, fill rate and various financial ratios.

Course Content

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY ONE:

  • Overview of the Inventory management
  • Importance of inventory and its value in the supply chain
  • Inventory analysis techniques e.g. JIT, ABC, VMI, and Kanban

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY TWO:

  • Stock level management
  • Warehousing technology e.g. RFID, WMS
  • Stocktaking and verification

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY THREE:

  • Receiving and put-away process
  • Inspection process
  • Storage facilities and handling material equipment

TOPICAL SESSIONS TO BE DISCUSSED FOR DAY FOUR:

  • Recording and record management
  • Contemporary issues
  • Case studies

Targeted Group

Supply Chain Analysts, Supplies Managers, Store Managers, Supplies Officers, Stock Verifiers, Warehouse Managers, Auditors, and any interested parties

  • Tour Package No
Course Price: 700,000/=

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