PROGRAM MODE: Live Session/Fully Online LEARNING METHOD: Self-Paced Learning Material, Exercises, Assignment ASSESSMENT METHOD: Fully Online Written/MCQ based Exam DURATION: 4 months TOTAL MODULES: 8 Modules/8 Sessions @ 2 hours(Total 16 Hours) VALIDATED AND QUALITY ASSURED BY: Cambridge Academy
Business today must have a good understanding of the value structure and strategy of Materials Management in order to compete in the new millennium. The efficient management of inventory and material planning has a major impact on supply chain performance and resultant cost. Poor inventory management will result in high inventory carrying cost and low rate of customer order fulfilment. Carrying inventory comes with a certain degree of commercial risk. Excess, obsolete and mismanaged inventory will result a reduction in the company equity. It is important for businesses to evaluate the costs of carrying inventory and reduce the cost to improve company’s bottom line.
Holding cost for Inventory accounts for the largest component of working capital in most organisations. High levels of Inventory costs money and take up valuable space. This inefficiency is what makes organisations lose competitive edge. Thus, new and effective techniques need to be adopted in order for the inventory to move efficiently and, purchasing and holding cost to be reduced.
Managing Inventory & Stock Control training focuses on all major aspects of inventory planning and stock control. This course emphasis on latest demand planning theories, models and best practices strategies to build competency of participants. It helps participants to learn how to deal with future scenarios to improve customer service whilst achieving optimal inventory level and obtain added value for money.
After successful completion of the program, participants will be able to:
1.Understand objectives of the modern inventory management and stock control
2.Insight on demand planning, role of finance, cost implications and customer service
3.Formulate inventory classifications, types of demand and various factors affecting the demand
4.Applications of forecasting techniques to determine demand and efficient management of lead-time
5.Understand modern inventory systems, methods, and their applications
6.Establish optimum order quantity, safety stock and reorder point to maximize inventory turn
7.Understand various stock controlling tools and techniques to eliminate waste, improve efficiency and cost of warehouse operations
8.To equip the Stores/ Inventory professionals with Effective Inventory Management Strategies.
9.Minimize Overheads and High holding costs - Avoid losses and optimize savings
10.Develop an understanding of key issues and trade-off that is central to the definition of Inventory policy and control.
11.How store and warehouse personnel can help organizations to increase productivity and to prevent losses.
12.Take decisions effectively as to how much quantity to order, when to order and why only that quantity to order - Determine Economic Order Quantities (EOQ).
13.To enable participants to recognize the importance of an organized and Effective warehouse Management
14.Understand the role of maintaining the Inventory and how to release the working capital by holding a lean inventory
15.Learn Inventory management best practices to help you to reduce cost, increase productivity and customer satisfaction
16.Establish Inventory management performance (KPIs) and continues improvement measures
Modules:
Module 1: Inventory Management Overview
Module 2: Materials Management and Procurement
Module 3: Inventory Systems and Methods
Module 4: Inventory Management
Module 5: Classification of Inventory and Demand Planning
Module 6: Effective Warehouse/Stores Management
Module 7: Inventory Management Best Practices
Module 8: Course Summary – Developing your Action Plan
PROGRAM MODE: Live Session/Fully Online
LEARNING METHOD: Self-Paced Learning Material, Exercises, Assignment
ASSESSMENT METHOD: Fully Online Written/MCQ based Exam
DURATION: 4 months
TOTAL MODULES: 8 Modules/8 Sessions @ 2 hours(Total 16 Hours)
VALIDATED AND QUALITY ASSURED BY: Cambridge Academy
| Enrollment Closes | 19/Nov/2023 GMT |
| Live Chat | Enabled |
| Regular Fee | $ 580.00 |
| Special Fee | Free |
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