Management Training

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Fundamentals of Inventory Management and Control

 

Duration: 2 Days (10 am to 5 pm with one hour lunch break)

Cost: $ 1399 + GST

Course Outline

Effective inventory management plays a crucial role in the smooth and efficient running of any organization. Reducing excess inventory and investing in the right inventories leads to better customer service, better inventory turnover and a healthier bottom line. This completely new edition of Fundamentals of Inventory Management and Control will equip you with the fundamental tools and techniques you need to analyze and control inventory from cost-cutting techniques to day-to-day management and the latest developments in inventory handling, including the basics of JIT and lean manufacturing.

Learn how to:

• Purchase, plan, manage, and control inventories and materials
• Evaluate inventory methods, make improvements to your current system, determine optimum inventory levels, design and implement a cycle-counting program, and analyze replenishment policies.
• Reduce excess inventory and invest in the right inventories for better customer service, better investment turnover and greater profits.
• Calculate optimal order quantities for such special cases as quantity discounts and price increases
• Locate your minimum-total-cost point, control inventory loss, and determine ideal safety stock levels.
• Answer the question: What is the real cost of being out-of-stock?

Course Objective: Purchase, plan, manage, and control inventories and materials.

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