Warehouse Management & Inventory Control

Course details

Day One
Introduction to inventory management 
· Objectives of inventory planning and stock control
· Reasons to hold inventory
· Inventory push vs. pull systems
· Customer service in inventory management
Counting and controlling inventory
· Importance of accurate inventory records
· Warehousing functions
· Causes of inaccurate inventory records
· Requirements for accurate inventory records
· Reporting record accuracy
· Periodic and cycle counting
Forecasting demand and lead time
· The inventory order cycle
· Dependent versus independent demand
· Factors affecting demand
· Factors impacting demand forecast accuracy
· Demand patterns
· Time series forecasting methods:
· Measuring the accuracy of the forecast
 
Day 2
Inventory systems
· Elements of inventory holding and ordering costs
· The Economic Order Quantity (EOQ) model
· Dealing with quantity discounts
· Objectives of safety stocks
· Setting safety stocks
· Determining the Reorder Point (ROP)
Introduction to warehousing management
· Objectives of warehousing
· The modern warehouse
· The warehousing cycle
· Problems and challenges in warehousing
· Warehousing and inventory costs
· Customer service in warehousing
 
Day Three
Storage and material handling systems
· Layout of the warehouse
· Size and shape of the warehouse
· Storage utilization and organization
· Types of storage systems
· Fixed versus random location
· Material handling equipment
· Material handling equipment checklist
· Improving the receiving/issuing material operations
Safety in the warehouse
· Good housekeeping inside the warehouse
· Identifying safety hazards
· Unsafe acts and conditions
· Causes of damage
· Planning for safety
  Updated on 16 May, 2024