Inventory Planning and Stock Control Management Training Course

Inventory and the Supply Chain

• Inventory Definitions and Importance

• Inventory Flow in the Supply Chain

• The Basic Rules of Successful Supply Chain

• Supply Chain and Inventory Dynamics

• Financial Management 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

Understanding Inventory Strategies

• Creating Inventory Policy

• Incoterms and the Supply Chain Rules

• Understanding Vendor Managed Inventory (VMI) and Co Managed Inventory (CMI)

Using the Supply Chain

• Using the Theory of Constraints

• Practical Inventory Improvements

• Keys to Reducing Stock Levels

• Model for Planning Inventory