OBJECTIVES:
After attending the course, Participants will be able to:
- Examined the skills needed for planning and controlling inventories successfully and cost effectively.
- Practiced the most up-to-date techniques for inventory planning and stock control
- Discussed the problems and solutions related to inventory management
WHO SHOULD ATTEND?
Those involved in inventory (materials) planning and stock control, both at the operational and supervisory levels. It is also appropriate for anyone interested in knowing more and understands the mechanics of inventory planning and stock control, and those working in other materials management functions (purchasing, stores and distribution).
PROGRAM TOPICS:
- Types of inventory
- The ABC inventory classifications
- Cycle counting methodology
- Inventory records accuracy
- Definition and control of lead time
- Basics of forecasting
- Costs in an inventory system
- Order-point and periodic control systems
- Use of safety stock
- Reducing investment in inventory
- Maintenance, operations and project materials
- Role of purchasing and stores
- Materials requirements planning
- Inventory management performance measures
WORKSHOP STYLE:
This will be a participative workshop with a mix of interactive learning sessions, exercises and discussions aimed to provide maximum impact and learning retention for all delegates.
