Inventory management course

This inventory management course will provide you with the expertise to help your organisation take inventory management to the next level. By linking theory to practical examples, we will h ensure that you understand the ins and outs of effective inventory management. We will help you to analyse your inventory situation in order to use the insights to develop concrete improvement plans to action within your own environment. After completing this course, you will be an expert on all things related to inventory management.

Why take this training session?

Understand the importance of inventory within your organisation and identify which environmental factors impact what inventory is required and in what quantity. Develop quality improvement plans and identify how best to action these initiatives.

Learning goals

Inventory

  • Understand the importance of inventory

Inventory management

  • Identify the most appropriate inventory strategy

Inventory situation

  • Gain insight into your inventory situation

Operational controls

  • Identify the role and responsibilities of the demand planning within the organisation

Program

This course takes place over 4 days, starting at 09:00 till 17:00 each day. Coffee, tea, soft drinks and lunch will all be provided. This course takes place over 4 days, starting at 09:00 till 17:00 each day. Coffee, tea, soft drinks and lunch will all be provided.

Day 1
Inventory

  • Identify the importance of inventory
  • Understand the different the types and functions of inventory
  • Identify different types of inventory costs

Day 2
Inventory management

  • Understand what an inventory strategy is
  • Ordering and inventory costs
  • Economic Order Quantity (EOQ)
  • Influence of ordering on inventory costs
  • Service levels
  • Impact of external variables
  • Forecasting

Day 3
Inventory situation

  • Gain insight into your inventory position
  • Understand the purpose of ABC
  • Carry out effective ABC analysis

Day 4
Operational control

  • Identify the role and responsibilities of the planner within your organisation
  • Understand the specific expectations of inventory management from different team members and divisions
  • Identify responsibilities around inventory management
  • Apply supplier management tactics
  • Understand which key performance indicators (KPIs) are most important

Level

No specific logistic knowledge is required. However, knowledge of the company itself will contribute learning process. The training will end with a test and successful participants will receive a certificate.

Location

Slimstock UK HQ,
Grosvenor House,
Prospect Hill, Redditch,
Worcestershire,
B97 4DL

Cost

Pricing available upon request.


contact slimstock

Slimstock UK

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