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Advanced Store Management and Stock Control Course

By: Fontini Consulting Ltd

State, Nigeria

10 - 13 Sep, 2024  4 days

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NGN 285,500

Venue: De Castle Luxury Home Uyo

Participants will be will exposed to the best practice methods in purchasing, Supplies and Stores and Management, International procurement, Stock Accounts, fraud managements, stock taking/ documentation will be exhaustively discussed. Your staff member needs to benefit from this very important workshop.

Content:

Fundamentals of Supplies and Store Management

  • Understanding the meaning of stock i.e. raw materials, work-in-progress and finished goods
  • Identifying and justifying the need for stock.
  • Stores locations and management i.e. Central stores, Autonomous stores and semi- autonomous stores, advantages, disadvantages, stores layout, cleanliness etc.
  • Modern store keeping methods
  • Stock requisitioning procedures
  • The approval processes.

Purchasing and Supplies Administration

  • Placing orders
  • Screening suppliers for efficient performance i.e. performance bonds and implementation of terms
  • The tendering process
  • Issuing purchase orders: the do’s and don’ts
  • Reviewing goods into stores- matching of LPOs, invoice, waybills, receipt vouchers, quality control, certificates etc.

Managing Stock Supplies Levels

  • Identifying the cost of carrying too little or too much stock
  • Maximum stock, minimum stock, reorders level; reorder quantity, economic order quality, etc.
  • Documenting consumption patterns i.e. maximum consumption, minimum consumption, normal consumption, abnormal consumption, lead-time etc.
  • The ‘Just-in-time’ concept
  • Managing wastages: normal and abnormal wastages
  • Stock insurance and security

Stock Fraud Management

  • Types and causes of stock fraud
  • Fraudulent shortage and supplies
  • Internal control issues
  • Fraud-free management of reformed and used spares
  • Falsification of stores and supplies documents
  • The internal audit functions
  • Emerging trends and future challenges

Computerised Stock Accounting Documentation and Reconciliation

  • Stock Accounting System
  • Various accounting packages and available stock accounting modules
  • Periodic and continuous stock taking procedures and documentation
  • Stock reconciliation methods procedures and documentation
  • Identification and management of fast, slow moving and obsolete stock

International Procurement

  • Identifying and exploring the international market
  • International procurement” scope, planning and implications
  • Understanding Nigerian Foreign exchange market including recent developments
  • Shipping term and other uses including marine insurance
  • Development in freight forwarding business in Nigeria including port reforms by the Federal Government
  • Finance of International trade; bills for collection, letter of credit, bank guarantees and other payment modes i.e. open account, sight payment, non-recourse finance, factoring and forfeiting etc
  • Fraud control in international procurement business.

Stock Valuation and Accounting Methods

  • Treatment in bin cards, stock ledgers, control accounts trial balance and final accounts
  • Requirements of SAS 4 issued by the Nigeria Accounting Standard Board
  • Requirements of International Accounting Standard No. 2
  • Computerized stock accounting
  • Internal control implications including stock frauds prevention and management
  • Issuing stock; Methods, Authorization and Documentation
  • FIFO, LIFO, NIFO, HIFO, simple average, periodic average, with the average, specific identification, standard cost, adjusted selling price etc.
  • The concept of cost, net realization value and appraised value

Public Sector Peculiarise

  • The provision of the public sector finical regulations
  • The provision for the public services rules
  • The implication of several government circulars
De Castle Luxury Home Uyo Sep 10 - 13 Sep, 2024
NGN 285,500.00
(Convert Currency)

Dr. Francis Okereke 08035062583

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