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Advanced Inventory Planning and Stock Control

Course Information:

Venue:Duration:Date:Price:
Online 20 hours Flexi-date£2,500.00
In-House Agreed with client FlexiblePOA
London 10 days 18-Apr£5,900.00
London 10 days 15-Aug£5,900.00

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    Who should attend?

    • Warehouse Managers
    • Procurement and purchasing professionals
    • Transport Managers
    • Professionals in Logistics Functions
    • Warehouse and distribution Managers and Supervisors
    • Material handling supervisors
    • Operational Managers
    • General Managers of SMEs
    • Supply chain specialists

    Accreditations

    Outcomes

    • Manage the key areas of warehouse operations
    • Eliminate wasteful activities/costs
    • Describe the materials handling cycle, manual and mechanical handling and accident prevention
    • Record, manage and measure inventory costs
    • Apply: MRP, JIT, Kaizen, Kanban strategies
    • Optimise resource planning and overall efficiency
    • Establish effective inventory management controls
    • Reduce costs of inventory obsolescence
    • Improve record-keeping accuracy

    COURSE TOPICS:

    Fundamentals of Inventory Management

    • Inventory management essentials
    • Profit through inventory management
    • Inventory management and customer service
    • Analysing the requirements
    • Setting inventory management parameters

    Replenishment Policies and Inventory Planning

    • Replenishment or Reordering
    • Continuous and periodic reviews
    • Order quantity and Order up-to level
    • Inventory planning
    • Inventory optimisation

    Stock Identification and Recording Procedures

    • Receipts and issues of stock
    • Order quantities and rules
    • Stocktaking and different types of stockholding
    • Safety stock
    • Obsolescence and write-offs – methods and procedures for disposal of surplus and unserviceable items

    Inventory Control

    • Cost effectivity of stock holding
    • Managing and controlling stock
    • Just In Time management
    • Practical methods of reducing stockholding
    • Setting and maintaining the right stock levels

    Strategic Management of Inventory and all types of Stock

    • Inventory classification and audits – ABC Analysis or the 80/20 rule
    • Implementing leading edge strategies – MRP, JIT, Kaizen, and Kanban
    • Effective forecasting and peak demand planning
    • Inventory cost reduction techniques
    • Effectively managing inventory risk

    Stock Identification and Recording Procedures

    • The role of the warehouse in the modern supply chain
    • The organisational structure of a warehouse
    • Factors determining the location and number of warehouses
    • Warehouse design
    • Different types of warehousing

    Management strategies involved in creating an efficient warehouse

    • Implementing a dynamic warehouse management system
    • Enterprise Resource Planning
    • On Time Complete and On Time Delivery methods
    • Floor loads and floors stocks
    • Order fulfilment and fill rates

    Managing People, Resources, Performance, Health and Safety

    • The role of the warehouse manager
    • People management
    • Resource planning
    • Performance management
    • Health and safety

    Inventory Improvements and the Supply Chain

    • The supply chain and the theory of constraints
    • Supply chain process mapping
    • Saw tooth curve
    • Using the Economic Order Quantity (EOQ) graph to find improvements
    • Inventory in the distribution network

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