By the end of this Integrated Inventory and Warehouse Management training course, you will be able 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

The purpose of Integrated Inventory and Warehouse Management training course is to:

• Understand the importance of the Supply Chain
• Enable delegates to evaluate Inventory visibility levels and segmentation approaches
• Examine stocking level criteria through assignment practices
• Types of tools used for inventory optimization
• Examine the influence that Contracts and Procurement have on Inventory
• 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

This Integrated Inventory and Warehouse Management training courses 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.

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

Personal Impact
From this Integrated Inventory and Warehouse Management training course, participants will learn:
• How to analyse stock and inventory?
• How to make productivity improvements?
• Understand the Role of Inventory in the Supply Chain
• Balancing Cost and Service Requirements
• A Framework for Continual Improvement of contracts and procurement
• Best in Class Practices

DAY 1

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

DAY 2

• 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 3

• 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 4

• 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 5

Implementing the Tactical Procurement Decisions
• Supplier involvement
• Value analysis
• Quality Assurance
• Supplier selection
• Supplier rating and ranking
• Contract management
• IT systems and e-Procurement
• Policies and procedures
• Staffing the Procurement Department