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Basic Certificate in Inventory Management Level 2

By: JK Michaels Consulting  

Lagos State, Nigeria

11 - 13 Sep, 2019  3 days

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EUR 625

Venue: Lagos

This two (2) day course focuses on the operational and strategic management of inventories, the role of inventory management and the professionals behind this important organizational function as it directly relates to the improvement of the company’s competitiveness. It will cover the most important aspects of inventory management from warehouse design and operations through forecasting requirements and parts variety reduction to evaluating inventory practices and building an effective inventory management plan of action.

Course Objectives

This course aims to help the supply chain professional to understand and apply four (4) major and significant aspects of inventory management:

  • Optimize Inventory Levels
  • Build an Inventory Management Plan
  • Design and Manage Warehouse Operations
  • Increase Accuracy, Traceability and Reduce Parts Variety

Participants should be able to understand the financial impacts of inventory and the risks in both over and under holding of inventory  the management of inventory, including lead time management, demand planning and interfacing with other functional groups directly and indirectly involved in
inventory planning and operations.

They should also be able to understand the importance of effective. Warehouse Management in minimizing the cost associated with the storing, moving and transporting goods into and out of the warehouse storage locations; the importance of reconciled physical count balances and system records and most importantly, the efficient, fast, precise and perfectly-timed issuances of the right quality and quantity of stocks to its intended users.

Course Outline

Day 1

  • Introduction - Review of the “Fundamentals”
  • What is Inventory Management?
  • Working Capital Cycle
  • Why is Inventory Management important
  • Why keep Inventory
  • How much Inventory to Keep
  • The Financial Implications of Holding Inventory
  • Inventory Carrying Cost
  • Effect on Financial
  • The Cost of not holding enough Inventory
  • The Role of the Inventory Manager
  • Exercises / Practical Application to Workplace
  • Setting the Stage for Effective Inventory Management
  • Introduction to Effective Inventory Management
  • Inventory Management and  the Supply Chain Strategy
  • Demand Forecasting
  • Lead time Management
  • Exercises / Practical Application to Work / Questions and Answers
  • Understanding SAP Fundamentals and Terminology
  • Inventory Planning
  • Introduction to Inventory Planning
  • Service Level Policies – OTIF
  • Inventory Categorization Techniques
  • ABC Analysis
  • Fast and Slow Moving, Excess, Obsolete and Defective Stocks
  • Traceability and Variety Reduction
  • Inventory Coding Systems
  • The Inventory Management Plan
  • Group Discussion / Practical Application to Work

Day 2

  • Inventory Operations
  • Introduction to Inventory Operations
  •  Monitoring Movements
  • Inventory Accuracy
  • Measuring and Valuation of Inventory
  •  Receipt and Issuance of Inventory
  • Systems to Replenish Inventory
  • How Much to Order – EOQ,
  • When to Place an Order – ROP, JIT
  • Exercises / Practical Application to Work
  • Warehouse Planning and Systems
  • Introduction to Warehouse Planning and Systems
  • Warehouse Location and Acquisition Options
  • Warehouse Design
  • Warehouse Layout
  • Materials Handling and Equipment
  • Warehouse Operations
  • Record Keeping and Communication
  • Perpetual Systems/Continuous Review Systems
  • International Quality Standards
  • Physical Inventory and Cycle Counting
  • Exercises / Practical Application to Work
Lagos Sep 11 - 13 Sep, 2019
EUR 625.00
(Convert Currency)

08033596025

We have acclaimed network of internationally certified, practical, professional, A+ rated, best-in –class facilitators with aggregate experience of over 25 years.
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