Introduction:
Apart from gaining comprehensive understanding and in-depth information about inventory management from this training course, you will also be given the whole set of skills necessary to oversee and accomplish the goal of inventory management.
Additionally, this will boost your chances to demonstrate your abilities and assist organizational progress. Although inventory management techniques can vary from organization to organization, their goals always remain the same. Enrolling in this course will therefore guarantee that you are qualified and skilled to work in any organization or industry and manage inventories.
Course Objectives
The main objective of this Inventory and Stock Control Specialist training course is to empower professionals with—
- detailed knowledge and understanding of inventory management
- the ability and confidence to independently and successfully drive inventory management for the organization
- the adequate skill and confidence to train other professionals on inventory management
- the required attention to detail and confidence to check existing systems and introduce changes for enhanced inventory management
- the skillset and capabilities to oversee inventory management across any organization or industry, thus increasing scope for progression and career development
- the required understanding of advanced concepts related to inventory management to make the process smarter and faster, through leaner processes and systems
- the ability to contribute to organizational growth through reduced costs and leaner operations
- the ability and potential to provide customers with superior quality goods at the right time
- the knowledge and experience to protect the organization against risks of damage, loss or theft of goods
Organizational Benefits
By professionals undertaking this Inventory and Stock Control Specialist course, their organizations will derive the following benefits:
- Better inventory planning and management handled by trained and experienced professionals
- Reduced costs and losses due to spoilage, theft or loss of goods
- Regular training of other professionals in the organization on effective inventory management
- Application of advanced techniques and systems for faster, more accurate, leaner operations
- Regular supply and stock of goods because of better tracking and recording mechanisms
- Better risk assessment and management because of superior and careful storage and transportation of raw materials and finished products
- Increased client satisfaction because of superior quality goods at nominal prices and high availability
- Increased organizational productivity and better record maintenance
- Organizational growth and development because of increased productivity, reduced prices, higher client satisfaction, etc.
Personal Benefits
Professionals enrolling for this Inventory and Stock Control Specialist course will derive the following benefits:
- Detailed understanding and knowledge of effective inventory management
- Greater ability and confidence to oversee and successfully handle inventory control for your organization, thereby demonstrating talent and inviting further opportunities for growth and development
- Increased knowledge and experience to train other professionals on effective inventory management
- Enhanced skillset and eye to detail to audit existing systems and processes and make changes for the better, ensuring timely delivery of superior quality goods to the customer
- Increased knowledge and ability to apply advanced methods and ideas to enhance the inventory management process of the organization
- Enhanced skillset and capabilities to work and spearhead inventory management for any organization and/or industry, thus facilitating a broader scope for career growth and development
- Greater ability and experience to reduce costs and increase profits, thereby contributing to organizational growth and development
- Increased knowledge, understanding and experience to pre-empt risks and mitigate them before they have a profound impact on the organization
Who Should Attend?
- Senior management of an organization who play a key role in strategic decisions for any process change or enhancement in the organization
- Inventory control and planning managers and supervisors responsible for overseeing all operations under inventory management and control
- Executives and staff involved in performing the operations related to inventory management
- Investors and potential investors who need to know the risk management strategies and storage as well as supply metrics for the organization to adjudge success and growth of the organization
- Quality checkers and compliance officials responsible for ensuring that the quality of goods and the process of handling material and finished products adheres to industry standards
- Legal officers and financial advisors dealing with various facets of the inventory management process
- Vendors and other external stakeholders involved in inventory management
- Any other professional interested in knowing about effective inventory management
Course Outline
The Inventory and Stock Control Specialist course covers the areas important to understand inventory management:
Module 1 – Types of Inventory
- Raw materials
- Work-in-progress
- Finished goods
- Maintenance, repair and operating goods
- Services
- Transportation
Module 2 – Types of Inventory Costs
- Holding/carrying costs
- Ordering costs
- Stock-out costs
Module 3 – Importance of Inventory Management
- Higher profits through reduced costs and increased sales
- Improved customer service
- Reduced inventory investment
- Increased productivity
- Inventory record accuracy
Module 4 – Types of Inventory Management Strategies
- Just-in-time
- Material requirements planning
- Hybrid push–pull
- Supply chain management
Module 5 – Objectives of Inventory Planning
- Customer satisfaction
- Forecasting needs
- Controlling costs
- Successful storage
Module 6 – Objectives of Inventory Control
- Protection against fluctuation in demand
- Better use of men, material and machines
- Protection against fluctuations in output
- Control of stock volume
- Control of stock distribution
Module 7 – Inventory Control Techniques
- Set par levels
- Use first-in, first-out
- Manage relationships
- Apply contingency planning
- Follow regular auditing
- Prioritize with ABC
- Advocate accurate forecasting
- Consider dropshipping
Module 8 – Causes for Increase in Inventory
- Delay in order deliveries
- Quality problems
- Unexpected demand increase
- Inaccurate forecasts of lead times
Module 9 – Major Activities of Inventory Control
- Planning
- Procuring
- Receiving and inspecting
- Storing and issuing
- Recording
- Physical verification
- Follow-up
- Material standardization and substitution
Module 10 – Steps in Inventory Control
- Deciding minimum and maximum inventory limits
- Determining re-order point
- Determining re-order quantity
- ABC analysis
Module 11 – Factors Influencing Inventory Control
- Requirements
- Quantity in stock order
- Procurement time/Lead time
- Obsolescence
- Profitability
Method of Instruction: Online
Course Duration: Two Weeks
Type of Certificate Issued:
Certificate in Inventory and Stock ControlÂ
You can choose any of the three below:
- Digital Certificate(Downloadable PDF)
- Physical Certificate with security marking shipped to your location with a price
- Framed Certificate with security markings shipped to your location with a price.
REGISTRATION FORM