Inventory accuracy is a critical sensitive area affecting firms. Cycle counting can increase inventory accuracy to level of 97% and better while offering significant cost savings when compared to physical inventory counting that the majority of firms currently use.
Inventory record accuracy has a significant impact on increasing level of customer service, reducing costs and increasing productivity. This workshop teaches participants best practice in conducting effective stock and inventory cycle counting.
*Inventory Costs and Service
- Why hold stock?
- Inventory costs
- Service level from inventory
- Lead time variability and uncertainty
- Inventory and statistics
- Periodic physical inventory
- Cycle counting
- Cost of inaccurate records
- Excess inventory levels
- Lower productivity levels
- Expediting orders
- Lost sales
*Methods of Counting
- Bar –code readers
- Count cards
- Count sheets
*Causes of inventory Accuracy Errors
- Bad units of measure
- Poor security
- Item identification
- Adequate storage space
- Locator system problems
- Timely reporting of transactions
*Executing the Count
- Break up counting into small groups
- Create a map of stocking area
- Stocking area into counting area
- Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.
The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.
|Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor) Opposite Adekunle BRT Bus-stop, Yaba, Lagos.
||Dec 04 - 07 Dec, 2018
|NGN 120,000.00||(The workshop fee is N120,000.00 (One Hundred and Twenty Thousand Naira) only per participant to cover workshop literature and materials, executive bag, tea/coffee, lunch, photograph and certificate.)|
Chris Onwuasigwe, FCA – 08033045484 08033045484
3-5 Participants – 5% Discount allowed
5 and above number of Participants – 10% Discount allowed
A distinguished team of facilitators who are eminently qualified professionals has been assembled to lead discussions in course of the workshop.