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Inventory Management: The Nuts and Bolts

By: Allied Educational Resources Ltd.

Lagos State, Nigeria

08 - 09 Aug, 2024  2 day

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NGN 99,000

Get 5.00% off

Venue: Red Lens Centre, 21 Ajanaku Street, Awuse Estate, Opebi, Ikeja Lagos.

Most companies carry too much inventory. “You can’t sell from an empty wagon,” is usually the reasoning. Being over-stocked means the company will likely not run out of anything. But what about the inventory that has celebrated a few birthdays in the warehouse? Has anyone stopped to calculate the true cost of worrying about “running out?”

The costs of maintaining excessive inventory usually far outweigh the true cost of not being able to quickly deliver a particular item to a customer once in a very long while. A balance must be struck between inventory levels and turnover. Good inventory managers know what stock moves at what rate. They carefully plan re-order levels to ensure that the chances of running out are minimized while the turnover rate is maximized.

How You Will Benefit:

By the end of the day, you will be able to:

  • Understand terms that are frequently used in warehouse management.
  • Identify the goals and objectives of inventory management and measure your process against these goals.
  • Calculate safety stock, reorder points, and order quantities.
  • Evaluate inventory management systems.
  • Identify the parts of the inventory cycle.
  • Better maintain inventory accuracy

What You Will Cover:

  • What is inventory?
  • Types of inventories?
  • Key players
  • Setting up the warehouse
  • What makes a good inventory management system?
  • The warehouse inventory cycle
  • Identifying demand
  • Validating inventory
  • The put-away and receiving process.
  • Maintaining inventory accuracy
  • The outbound process
  • Industry trends
Red Lens Centre, 21 Ajanaku Street, Awuse Estate, Opebi, Ikeja Lagos. Aug 08 - 09 Aug, 2024
NGN 99,000.00(Lagos)
(Convert Currency)

Omolara Adedire 07081901320, 07087808664

10% 0ff for Group Participants
Mr. Muyiwa Adeaga / Mrs. Mary Ogbodo

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