Training on Inventory Management

Inventory management refers to the process of tracking and controlling the amount of goods or products available in the warehouse or store enabling you to succeed in having the right number of units in the right place, at the right time and for the right value or purpose.

Enhanced inventory control leads to improved performance, inventory managers play a key role in controlling and managing materials, products and any other physical merchandise required by the organization. Effective inventory management facilitates improved efficiency, while poor management can bring operations to a grinding halt.

This course is aimed at equipping the participants with the knowledge and skills on inventory management techniques to improve stock distribution and efficiency in warehouse operations.

Target Participants

This course is designed for professionals in Inventory control and management, warehousing, logistics, supply chain management and demand and supply planning.

What you will learn  

By the end of this training the participants will be able to gain skills on:

• Understanding the importance of inventory and the role it plays in the smooth operation of the organization
• Understanding the appropriate method for managing inventory stock
• Identifying the value chain in inventory management
• Applying best methods to safeguard the investments in inventory management
• Examining the appropriate inventory management technique for each type of goods and products

Course Outline – Main Topics

• Introduction to Inventory Management
• Inventory Management Stock
• Inventory in the Value Chain
• Demand Planning
• Forecasting
• Inventory Recording
• Inventory Accounting
• Automated Inventory Management
• Inventory Management Techniques
• Systems Performance Measurement
• Inventory Risk and Mitigation

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of presentations, practical activities, discussions, class exercises and case studies.

Training notes and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued with a Certificate of Course Completion.

Tailor-Made Course

We can also do this as tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations and tailor-made needs.