Integrated Inventory and Warehouse Management


OBJECTIVES

By the end of this Integrated Inventory and Warehouse Management training course, you will be able to:

  • Improve management of inventories reaching from receiving products to storage and delivering
  • See that movement to the end-user adds value
  • Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity.
  • Look “outside of the box”
  • Understand the appropriate Inventory methods to be applied
  • Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process

Outline

Inventory and the Supply Chain 
  • Inventory Flow in the Supply Chain
  • Inventory Definitions and Importance
  • The Basic Rules of Successful Supply Chain
  • Supply Chain and Inventory Dynamics
  • Financial Management, Cash Flow, and Inventory
  • Statistics Application in Inventory Control
  • Truths on Inventory Visibility
 
Key Components to Understanding Effective Inventory Control
  • End-User Demand Analysis
  • Forecasting for Operations and Maintenance
  • Understanding Supply Lead Time
  • Cost & Benefits Analysis
  • Developing Inventory Policies
  • The Need for Inventory in Organizations
 
Inventory Mechanics, Methods and Systems 
  • Basic Mechanics of Inventory Systems
  • Establishing Order Quantity
  • Implications of Free Stock in Inventory
  • Simple Replenishment Methods, for example, Min / Max
  • Replenishment Methods, Reorder Point and Reorder Level (ROP / ROL)
  • Requirements Planning Systems, Bills of Material, and Inventory Planning
  • Class Assignment Inventory Control Methods
 
Establishing Stock Control 
  • Establishing Stock Checking
  • Developing Stock Accuracy
  • Stock Tolerances and Approvals
  • Stock Reconciliations / Discrepancies
  • Identifying Surplus and Obsolescent Stock
  • Identifying Different Storage Conditions
  • Understanding Stock Coding
  • Stock Variety Reductions
 
Implementing the Tactical Procurement Decisions 
  • Supplier involvement
  • Value analysis
  • Quality Assurance
  • Supplier selection
  • Supplier rating and ranking
  • Contract management
  • IT systems and e-Procurement
  • Policies and procedures
  • Staffing the Procurement Department

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