STORES MANAGEMENT, INVENTORY PLANNING AND CONTROL PROGRAM

COURSE OBJECTIVES

• To learn how to manage a complex inventory with many different demand patterns
• To show how to calculate the resources required for inventory and warehouse management (IWM)
• To set up the key control parameters required to optimize inventory investment
• To identify how service levels are measured in IWM systems
• To demonstrate the need to build cross- functional teams to manage IWM improvement
• To demonstrate the risks involved in IWM

FOCAL POINT

• The organizational role of stores and inventory management in supporting efficient and effective operations
• The scope and purpose of stores management and inventory control
• Identifying patterns of demand and product groups within an inventory
• Analyzing data to set inventory control parameters
• Dealing with risk and uncertainty in IWM
• Measuring supplier service levels in stores and inventory operations
• Basic forecasting processes
• Training & development of IWM personnel
• Developing the confidence to be proactive on solving inventory and warehouse problems by cross-functional dialogue
• Using computer systems to manage and control inventory levels and warehouse operations.