Inventory / Stock Control Training

Inventory is a current asset to a firm. Carrying inventory comes with a certain degree of risk. This risk is a component of the cost of carrying inventory. When a company stocks items in the warehouse there is always the risk that the items may fall in real value during the period they are stored. If a company stored parts for their work centers or equipment, the parts in the warehouse could be worth far less than the price that was originally paid and any losses, excess, obsolete and miss-managed inventory means a reduction in the company equity.

When companies are looking to reduce costs, a great many times they ignore the inventory sitting in their warehouses and the cost of carrying that inventory. It is important for businesses to carefully examine all the costs of carrying inventory and determine where they can make changes to reduce that cost and help with the company’s bottom line.

This training will highlight:

• Examine the link of inventory in the company supply chain operations and activities.
• Analyze the key areas of operation.
• Identify and understand key performance indicators.
• Succeed in improving operations.
• Apply the right cost and service balance.
• Gain a competitive advantage.
• How to analyze stock and inventory.
• How to make productivity improvements.
• Balancing cost and service requirements.

Workshop objectives:

• Reasons for holding Inventory
• Accurate Inventory records
• Difference between Sock recording and Inventory control
• Security of Stores.

Training Methodology

This course will be conducted physically and virtually simultaneously, with formal presentations and an interactive training manual. It will be delivered by seasoned trainers with vast experience in their respective fields of practice. The course is taught through a mix of practical activities, theories, group activities, and case studies. The session will be wrapped up by an industry expert to share practical experience related to the course topic, and a Q&A session with the participants.