WAREHOUSE AND INVENTORY CONTROL MANAGEMENT IN A DIGITAL ERA
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.
- 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.
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
Supply Chain Analysts, Supplies Managers, Store Managers, Supplies Officers, Stock Verifiers, Warehouse Managers, Auditors, and any interested parties
- Tour Package No