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Inventory Planning and Stock Control Course

By: Reenel Associates

Abuja FCT, Nigeria

25 - 27 Nov, 2019  3 days

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NGN 200,000

Venue: Abuja/Lagos/PH/KD

Other Dates

Venue Date Fee  
Abuja/Lagos/PH/KD, State, Nigeria 18 - 22 Nov, 2019
Abuja/Lagos/PH/KD, Lagos State, Nigeria 18 - 29 Nov, 2019

Inventory planning and stock control is a critical process within Supply Chain Management (SCM) which ensures continuity of supply of the inventory at the lowest cost. Effective inventory planning will help the SCM team improve the accuracy of forecasts, ensure enough inventory levels at all times, and enhance profitability by optimizing the expenses. The control side of this process is to ensure that plans are being met and to take the necessary actions) when otherwise.

Demand planners are the behind the scenes professionals who are entrusted with this mega load. When they do their job right no one recognizes them, however, they will be noticed quickly when they fail

to deliver given the negative impact this will have on customer service and the bottom line.

In this course, many inventory planning theories, models and best practices will be discussed which when properly implemented will assist the participants deal with various future scenarios to ensure

continuous flow of the inventory at the least possible cost.

Target Audience

Those involved in inventory (materials) planning and stock control at the operational and supervisory levels. Also, those working in other functions of materials management (purchasing, stores, distribution)

who need to understand the mechanics of inventory planning and stock control.

Target Competencies

  • Planning and logistics theory and practices
  • Planning and logistics work processes
  • Inventory management
  • Assessment and planning of requirements
  • Demand planning
  • Warehouse management
  • Performance management

Course Methodology

The course uses a mix of interactive and hands-on techniques. Beside the brief presentations by the consultant and the participants, there will be many individual and group exercises. The exercises are all work related where participants need to calculate or draw the optimal solutions after understanding the process.

Course Objectives

By the end of the course, participants will be able to:

  • State the objectives of inventory management and list their impact on cost and customer service
  • Prepare proper classification of inventory and use best practices for item specification and cataloguing
  • Use forecasting techniques to predict demand and better manage lead times
  • Compute the optimum ordering quantity and determine safety stocks and reorder points
  • Schedule cycle counts, improve inventory record accuracy, and find ways to reduce inventories
  • List various techniques to reduce inventory, including Just-in-Time (JIT)
  • Identify relevant Key Performance Indicators (KPIs) to measure and improve inventory performance
Abuja/Lagos/PH/KD Nov 25 - 27 Nov, 2019
Abuja/Lagos/PH/KD, State, Nigeria 18 - 22 Nov, 2019
Abuja/Lagos/PH/KD, Lagos State, Nigeria 18 - 29 Nov, 2019
NGN 200,000.00(3days)
NGN 295,000.00(5days)
NGN 390,000.00(10days)
(Convert Currency)

Reneel Associate 08053338830

Reenel Associates Facilitator
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