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Inventory (Stock) Control Training

By: Tom Associates Training  

Lagos State, Nigeria

21 - 23 Sep, 2020  3 days

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NGN 130,000

Venue: 5/7 Alade Lawal Street, Off Ikorodu Road, Anthony Village, Lagos

The Objectives of Inventory (Stock) Control is as below

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, Off Ikorodu Road, Anthony Village, Lagos Sep 21 - 23 Sep, 2020

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

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

NGN 130,000.00
(Convert Currency)

Mr Abiodun Toki 08033019120

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