Inventory & Warehouse Management

Course details

In today's economy, companies must be able to move large quantities of product quickly to locations across the globe. Overnight delivery methods hove drastically altered customers' expectations regarding delivery time. Lead time of four to six weeks is no longer acceptable. In light of these changes, effective Inventory Management is no longer static - the emphasis is on movement and quick response to changing market demands.

Expected Accomplishments

• Distinguish inventory and warehouse management
• Control inventory and delivery in line with corporate strategy'
• Increase efficiency through well-defined Supply Chain Management
• Discuss various techniques for safely and effectively managing inventories and optimizing services to clients
• Discover how to achieve the operational flexibility needed for today’s ever-changing supply chain

Course Outline

• Strategic value of learning about systematic inventory management
• Identify inventory functions.
• Identify inventory types and Inventory Management Systems
• Systems that support effective and efficient inventory management
• Inventory systems and their definitions
• Applicable processes used to establish inventory levels in order to foster key relationships for success
• ABC analysis
• Various computer inventory management systems
• Inventory Financial Management-its positive impact
• Correct definitions and corresponding data on standard financial forms
• Basic inventory calculations and its usage
• Matching key financial ratios and standard formulas used in inventory management
• Effective cost analysis strategies
• Utilizing sound warehousing strategy for effective cost management
• Goals of implementing an effective warehousing strategy
• Types of warehousing and their applications
• Warehousing activities
• Choosing an effective strategy based on a selection of critical factors

Who can benefit

• Personnel from any discipline involved in inventory/warehouse management functions.

Related Training

• Supply Chain Management (SCM)
• Advanced Purchasing, Supply ft Cost Effectiveness

mode

• Consultant led classes including lectures, tutorial exercises and case studies

Prerequisites

• None