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Stock Control and Inventory Management
overview

This course provides basic definitions and concepts for planning and controlling the flow of materials into, though, and out of an organization. It explains fundamental relationships among the activities that occur in the supply chain from suppliers to customers. In addition, the course addresses types of manufacturing systems, forecasting, master planning, material requirements planning, capacity management, production activity control, purchasing, inventory management, distribution, quality management, and Lean manufacturing.

course details
COURSE DURATION LANGUAGE CERTIFICATE
2 Days English DISS Certificate
  *Please notify us if an interpretation is required  
course benefits/progression opportunities
Course objectives

At the end of this course, the candidates will be able to:

  • List the objectives of inventory management and its impact on cost and customer service.
  • Perform proper classification of inventory and use best practices for item specification/cataloguing.
  • Use forecasting techniques to predict demand and better manage lead times.
  • Identify the optimum ordering quantity and determine safety stocks and reorder points.
  • Conduct cycle counts, improve inventory record accuracy, and find ways to reduce inventories.
  • List various techniques to reduce inventory, including JIT (Just-In-Time).
  • Apply Key Performance Indicators (KPIs) to measure and improve inventory performance.
course outline
Module 1: Introduction to Inventory ManagementModule 2: Inventory Classification and Record AccuracyModule 3: Forecasting Demand and Lead TimeModule 4: Inventory SystemsModule 5: Reducing Inventory Investment
  • Objectives and Responsibilities of Inventory Management
  • Reasons to Hold Inventory
  • Identifying Inventory Costs
  • Customer Service in Inventory Management
  • Types of Inventory
  • The ABC Classification
  • Uses of the ABC Classification
  • Inventory Record Accuracy
  • Reasons for Poor Accuracy
  • Periodic and Cycle Counting
  • Systems and Methodology of Counting
  • Steps to Follow Before, During and After the Audit
  • Forecasting Objectives
  • Techniques of Forecasting
  • Seasonal Demand
  • Moving Average
  • Exponential Smoothing
  • Control of Lead Time
  • Evaluation of Forecasts
  • Lead Time Management
  • Inventory Costs
  • The Economic Order Quantity Model
  • When and How Much to Order
  • Controlling Safety Stocks
  • How to Deal with Quantity Discounts
  • Counting and Controlling Inventory
  • Counting Methods and Accuracy
  • Periodic and Cycle Counting
  • Identification and Disposal of Surplus
  • Material Requirements Planning (MRP)
  • Just-In-Time (J.I.T.) Method
Course methodology
  • Use of real-world examples, case studies and exercises
  • Interactive participation and discussion
  • Power point presentation, and flip chart
  • Each participant receives a binder containing a copy of the presentation slides and handouts   
COURSE TYPE: CLASSROOM
DATETIME
2 Dec 202008:00 – 14:00 (QATAR)
9:00 – 15:00 (OMAN)
TESTIMONIAL

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Meet THE INSTRUCTORS
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