Warehouse Management & Inventory Control Storekeeper

Course details

Warehouse managers oversee the handling and storage of a company's supplies and goods as well as track supply requests and forecast future material needs. Read on to learn about some of the most common classes and training program offerings in warehouse management Concepts you'll encounter while studying warehouse management:

• Business basics
• Inventory control
• Management techniques
• Source selection
• Acquisitions law
• Fundamentals of transportation and logistics

This course will introduce you to the theories and concepts of inventory and warehouse management with specific emphasis on identifying the components of inventory related costs, estimating the cost of said components, controlling material flow through materials requirement planning and just-in-time delivery and managing inventory related response to customer demand. In summary, you will take away the knowledge to better manage your areas, and to effectively align your activities with those of the logistics and supply chain management team within your organisation, leading to smoother, more profitable operations.

Inventory and Warehouse Management Courses
Students learn the key aspects of inventory control and materials handling. They develop their knowledge of receiving and storing materials with an eye to greater profitability. Instructors provide lessons in proper material processing, including the picking and shipping of goods. Students learn the technologies and computer systems that assist managers in maintaining inventory and forecasting supply needs.

Acquisitions and Purchasing Courses
These classes survey the duties of purchasing agents and the methods use in acquiring materials and goods. Assignments allow students to develop familiarity with source selection, contracting, acquisitions law and pricing. Lessons include tips pricing materials and key negotiating skills. Students will analyze the value offered by vendors for products and use this information when planning equipment and supply purchases.

Supply Chain and Logistics Management Courses
Instructors discuss the challenges facing supply chains in a global economy. Students acquire the ability to coordinate logistical information so the movement of materials is seamless. Class topics include emphasis on meeting deadlines, customer service and accurately forecasting future logistical needs. Students also learn the technologies used in the industry and production planning.

Transportation and Freight Operations Courses
Students develop an understanding of the role transportation plays in society and the economy. Classes discuss the environmental impacts of transportation operations and the regulations affecting the industry, including federal and international counter-terrorism laws. Students learn the effective management of transportation hubs and transportation pricing standards. Assignments introduce the technologies used in managing transportation operations and maintaining shipment security.

Course Outline
Module 1: Warehouse Management

• Warehouse Organization
• Introduction to warehouse organization
• Position of Warehouse/stores in the organization
• Organization structure of stores division
• Organization matters for efficient working of stores division
• Delegation of authority

Requisitions and Replenishment of Materials

• Need for requisitioning the material
• Replenishment of stock items
• Preparation of materials requisition report
• Dispatch of requisition to user department
•  Review order quantity

Performance Evaluation of Stores Activities

• Criticism of stores division
• Poor inventory control
• Improper store-keeping and Tools Management
• Performance indicators and evaluation
• How is performance evaluation carried out

ISO Standards and Warehouse Activities

• Introduction to ISO standards
• The importance of ISO standards
• Registration for ISO certification
• Warehouse activities and quality assurance
• Stores division activities in conformance to ISO 9001

Warehouse Location, Layout, and Facilities Planning

• Number and size of stores
• Location of stores
• Layout planning of warehouse
• Physical facilities planning

Warehouse Security, Safety, and Maintenance

• Security
• Entry to warehouse
• Management of warehouse keys
• Closing of warehouse
• Issue to authorized individuals

Module2: Inventory Control

Inventory Classification and Strategies

• Advantages of classification of inventory
• Regular inventory item
• In-process inventories
• Finished goods inventory
• Strategic considerations in the control of finished goods inventory
• Market research

Codification and Standardization

• Methods of Codification
• Variety reduction
• Advantages of standardization
• Situations where standardization is not preferred
• Types of standards
• Standardization program

Inventory Control Model

• Theoretical inventory control model
• Elements of inventory control model
• Dynamic nature of the inventory control model
• Maintenance requirements
• Reorder point fluctuations

Inventory Control Techniques

• Best order quantity
• Economic Order Quantity (EOQ) defined
• Determining Economic Order Quantity (EOQ)
• Variable costs
• ABC analysis
• Other techniques of analysis

Effective Management of Spare Parts

• Factors influencing the stocking of spare parts
• Appropriate maintenance techniques
• Administrative and financial factors
• Steps for management of spare parts
• Diagnostic survey
• Reconditioning and overhauling of parts

Valuation of Inventory

• Importance of valuation of inventory
• Valuation of material issues
• First in First Out (FIFO)
• Last in First Outs
• Highest in First Out (HIFO)
• Next in First Out (NIFO)
• Simple average method
• Weighted average cost method
• Factors considered in selection of method of valuation of inventory

Warehouse Management Warehouse Organization

• Introduction to warehouse organization
• Position of Warehouse/stores in the organization
• Organization structure of stores division
• Organization matters for efficient working of stores division
• Delegation of authority

Performance Evaluation of Stores Activities

• Criticism of stores division
• Poor inventory control
• Improper store-keeping and Tools Management
• Performance indicators and evaluation
• How is performance evaluation carried out

Warehouse Security, Safety, and Maintenance

• Security
• Entry to warehouse
• Management of warehouse keys
• Closing of warehouse
• Issue to authorized individuals

Inventory Classification and Strategies

• Advantages of classification of inventory
• Regular inventory item
• In-process inventories
• Finished goods inventory
• Strategic considerations in the control of finished goods inventory
• Market research

Inventory Control Model

• Theoretical inventory control model
• Elements of inventory control model
• Dynamic nature of the inventory control model
• Maintenance requirements
• Reorder point fluctuations

Valuation of Inventory

• Importance of valuation of inventory
• Valuation of material issues
• First in First Out (FIFO)
• Last in First Outs
• Highest in First Out (HIFO)
• Next in First Out (NIFO)
• Simple average method
• Weighted average cost method

Factors considered in selection of method of valuation of inventory Updated on 16 February, 2020