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Inventory Control Training

By: Tom Associates Training  

Lagos State, Nigeria

25 - 27 Mar, 2019  3 days

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NGN 125,000

This course delivers four broad competencies:

  • Reasons for holding Inventory
  • Accurate Inventory records
  • Difference between Stock recording and Inventory control
  • Security of Stores.

Course Contents

DAY ONE

  • Reasons for Inventory
    • Forecasting Future Demands
    • Demand patterns
    • Trends
    • Seasonal variations
    • Random fluctuations
    • Sporadic demand
  • When to Order
    • Safety stocks
    • Re-Order levels
    • Standard deviation
    • Service factors.

DAY TWO

  • How Much to Order
    • Economic Order Quantity
    • Lot sizing
    • Forecasting
    • MRP and ERP
    • Time Phasing
    • Explosion Routines
    • Schedule Regeneration
    • Just-in-Time
  • Financial Considerations
    • Inventory turnover
    • Effects on the cash flow
    • Effects on the working capital
    • Profitability - the Return on Investment
  • Managing the Costs
    • Inventory cost implications
    • Ordering cost
    • Running costs
    • Cost of money
    • Wastage
    • Insurance

DAY THREE

  • Systems of Inventory Management
    • ABC Analysis
    • Quantity Based Systems
    • Time Based Systems
    • Differential Stock Control
    • Consignment Stock
    • Vendor Maintained Inventory
    • Kanban
  • Stocktaking
    • Reasons
    • Periodic
    • Continuous
    • Treatment of Discrepancies
  • Obsolete Redundant and Surplus Stocks
  • Identification
  • Disposal.
5/7 Alade Lawal Street, Opposite Divisional Police Station, Off Ikorodu Road, Anthony, Lagos. Mar 25 - 27 Mar, 2019

Registration: 08:30:am - 09:00:am

Class Session: 09:00:am - 04:00:am

NGN 125,000.00(VAT Inclusive)
(Convert Currency)

Mr Abiodun Toki 08033019120

Discount of 5% to 3-4 participants from same organization. Discount of 10% to 5 or more participants from same organization.
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