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Inventory Management

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Details

 

This is a workshop for the warehouse or stockroom manager, the person in charge of what comes in and goes out of the company. You want a smooth and cost-effective operation, with enough products on hand to satisfy needs without stockpiling too much.

 

By the end of this workshop, participants will be able to:

  • Understand terms that are frequently used in warehouse management
  • Identify the goals and objectives of inventory management, and measure their 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

 

Delivery Methods

Leading Training is focusing on providing virtual training courses for the foreseeable future and will only consider in-person and classroom training on request, with a required minimum group size of four delegates. We remain committed to offering training that is fast, focused and effective.

Delivery Method Duration Price (excl. VAT)
Fulltime 1 Day R 2,299.00
Webinar 1 Day R 1,849.00

Discounts Available

Save up to 10% by booking and paying 10 business days before the course.

Brochure:

Download Brochure


Information may change without notice.

Audience

Admin staff Inventory Managers Stock Managers

Pre-Requisites

None

Course Outline / Curriculum

You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.

  • What is Inventory?
    • To begin, participants will explore what inventory is and what key concepts (including LIFO, FIFO, backorders, and lead time) mean. Participants will also look at the goals and objectives of inventory management and analyze where their system can improve.
  • Types of Inventory
    • This session will explore anticipation, fluctuation, lot size, and transportation inventories.
  • Key Players
    • Next, participants will discuss what roles customers, top management, and employees play in the inventory management system.
  • Setting up the Warehouse
    • This session will discuss the objectives of a warehouse and ways to maintain location accuracy.
  • What Makes a Good Inventory Management System?
    • Next, participants will discuss types of inventory management systems and criteria for a good system.
  • The Warehouse Inventory Cycle
    • This session will introduce the warehouse inventory cycle of demand, receiving, validation, and put-away.
  • Identifying Demand
    • Participants will learn how to determine order quantities, re-order points, and safety stock through discussion and a case study.
  • The Receiving Process
    • Next, participants will learn what should happen when materials are received into inventory.
  • Validating Inventory
    • This session will explore ways to validate the quality of merchandise.
  • The Put-Away Process
    • Participants will discuss the five goals of the put-away process.
  • Maintaining Inventory Accuracy
    • Next, participants will learn ways to keep their inventory organized and controlled.
  • The Outbound Process
    • This session will look at the phases of the outbound process: picking, packing, loading, and shipping.
  • Industry Trends
    • To conclude the workshop, we will explore some of the latest inventory management trends, including Six Sigma and the Just-In-Time (JIT) system.
  • Workshop Wrap-Up
    • At the end of the day, students will have an opportunity to ask questions and fill out an action plan.

Schedule Dates and Booking

There are currently no scheduled dates.

Please note that this course needs a minimum of 6 delegates to schedule a course. You can choose to be added to the waiting list by clicking the button below and we will contact you when we have enough delegates interested. Should we not get enough delegates, we will refund or credit your paid booking.

Add me to the waiting list

Should you need this course urgently, the following options are available:

  1. Pay for 6 delegates (whether you have them or not) and we will schedule the course as soon as possible.
  2. If you have fewer delegates and cannot pay for 6, we can negotiate a shortened course where some of the time will be spent in blended learning - watching videos and doing tutorials and exercises with some contact time with the trainer. We would want to discuss what your core needs are so that we cover those aspects. You need to have paid for 3 delegates at least.