Inventory and Stock Management Training

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home | course outlines | inventory and stock management

  Course Name:
  Inventory and Stock Management
Aims :
  • Reconcile contradictory aims of various departments within the company with regard to stock management;
  • Optimize inventory management by aiming for cost-reduction while minimizing risk of shortages;
  • Removing excess or out-of-date stock to free up storage space;
  • Assessing your company’s inventory management performance.
Target Audience :

Inventory Managers, Shipping Staff, Warehouse Managers, Production Directors, Buyers, Operation Directors, Distributors and Manufacturing Companies.

Content :
  1. Introduction: Types of inventory and their functions

  2. The Supply Chain :
    • Conflicts between company departments re: functions
    • Global Optimization versus Local Optimization
    • Conflicts involving stock management
    • Conflict resolution

  3. Inventory Management Models :
    • Product Classification – Pareto Law, ABC
    • The Fixed-Interval Purchasing Model
    • The Continuous Purchasing Model :
      • Bulk ordering
        • Immediate receiving
        • Staggered receiving
        • Order Cycles
        • Rebates based on quantity
      • Min-max
    • Random Demand Model
      • Safety Stocks, Shortages
    • Single-use Model (perishable goods and articles with short or fleeting life-cycle)
    • Ordering Stations
    • Dealing with overstock and out-of-date stock

  4. The run-down on Just-In-Time

  5. Inventory Costs :
    • Purchasing costs
    • Storage and holding costs
    • Order entry costs
    • Shortage costs

  6. Inventory Storage :
    • Techniques: positioning stock, storage equipment
    • Labeling: bar codes, RFID
    • Addressing
    • Handling
    • Manual counts

  7. Assessing Inventory Management Methods
    • Assessment Criteria
    • Benchmarking, Best Practices, Performance Indicators, Score Cards

To sign up or for further information, please contact Mme Maryse Morin
at 450-226-2238 or 1-800-861-6618

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