Procurement, Logistics & Inventory Management Training Courses


Training Course in Inventory Management

Introduction

Knowledge of inventory management is critical for effectively managing procurement and the supply chain; however, inventory is commonly not understood. Therefore, inventory levels that are too high are held with attendant cost increases and product obsolescence.

Under this training course in inventory management, participants will also engage in specialized training and may earn certifications integral to inventory and warehouse management success. Among these critical training areas are:

Warehouse Management System Training

Participants in the inventory management course will explore the sophistication of warehouse management systems, gaining insights into how technology can optimize inventory control and warehouse operations.

Certificate Inventory and Management

This inventory management course offers an avenue towards earning a certificate in inventory management, providing professional recognition for competencies developed during the training.

Foundations of Inventory Management

Here, the building blocks of effective inventory management are elaborated, laying out the fundamental processes crucial for maintaining optimal stock levels without unnecessary expenditures.

Targeted Groups

  • Inventory Managers
  • Non-inventory people who need to gain an awareness of the issues and key drivers of stock control operations
  • Inventory, Stock, Supply Chain, Logistics, Warehouse, and Distribution Professionals

Course Objectives

At the end of this inventory management course, participants will be able to:

  • Appreciate that time is cash.
  • See that movement to the customer is all that adds value.
  • Work with all of the supply chain players' pay.
  • Look "outside of the box".
  • Use the appropriate methods.
  • Apply the 8 Rules for Effective Supply Chain Management.
  • Evaluate current procedures.
  • Examine how lead time builds up.
  • Change methods of managing inventory.
  • Provide practical skills to eliminate wasteful costs.
  • Avoid those internal problems that limit performance.
  • Understand and implement world-class tools for managing inventory in the supply chain.

Targeted Competencies

  • Stock and inventory analyzing.
  • Productivity improvements.
  • The role of inventory in the supply chain.
  • Balancing cost and service requirements.
  • Continual improvement.
  • Best-in-class practices.

Course Content

Unit 1: Inventory Management and The Supply Chain

  • Inventory management definition.
  • Types of stock.
  • Demand amplifications.
  • Demand replenishment in networks.
  • Managing the flows.
  • Type I and II supply chains in inventory management.
  • The supply chain rules in inventory management.
  • Inventory management and statistics.
  • Concept of service level.

Unit 2: Inventory Management Key Concepts

  • Fundamental component: demand analysis.
  • Fundamental component: demand forecasting.
  • Inventory fundamental component: supply lead time.
  • Fundamental component: cost and benefits.
  • Inventory management benefits.
  • Inventory management policies.
  • Managing inventory in organizations.

Unit 3: Inventory Management Replenishment Methods and Systems

  • Basic mechanics of inventory management systems.
  • The stock time curve.
  • Stock components.
  • Stock investment.
  • Free stock calculation.
  • Simple replenishment methods, for example, Min/Max.
  • Accurate replenishment methods include Reorder Point and Reorder Level (ROP/ROL).
  • Requirements planning systems include Materials/Manufacturing Resource/Requirements Planning (MRP / MRPII).

Unit 4: Stock Control-Coding

  • Different coding methods.
  • Importance of inventory receipts.
  • Identifying surplus and obsolescent stock.
  • Checklists to help in deciding the best option.

Unit 5: Stock Control-Recording

  • Separation of powers.
  • Legal issues.
  • How do we get inaccuracies?

Unit 6: Stock Control-Checking

  • Roles and responsibility.
  • Requirements.
  • Job Descriptions.
  • Authority levels.
  • Tolerances and approvals.
  • The stock check program.
  • Options for stock-checking methods.
  • Reconciliations/discrepancies.

Unit 7: Inventory Management Performance

  • Inventory performance.
  • Assessing the stock level.
  • Models for implementing inventory control.
  • Determining stock targets.
  • Inventory management questions.
  • Inventory KPIs in warehouses/stores.

Unit 8: Inventory Management Strategies

  • Push/Pull.
  • Quick response (QR).
  • Efficient consumer response (ECR).
  • Collaborative planning, forecasting, and replenishment (CPFR).
  • Lean and agile approaches.
  • Quality management.
  • Postponement.
  • Cross docking.
  • Consolidation.
  • Vendor-managed inventory (VMI).
  • Consignment stocking.
  • Co-managed inventory (CMI).
  • Direct product profitability (DPP).
  • Economic value added (EVA).
  • Collaborative supply chains.

Unit 9: Inventory Management Improvements

  • Using the supply chain.
  • Using the theory of constraints.
  • Practical inventory improvements.
  • Call-offs and telemetry.
  • EDI and ICT.
  • Keys to reducing stock levels.
  • The 7 Rules for planning inventory.
  • Model for planning inventory.

Professional Development and Career Advancement

This inventory management course supports professional growth by incorporating a comprehensive inventory training approach, including theory and practical applications. It opens doors for career advancement in areas such as:

  • Warehouse Management Certification
  • Inventory Analyst Training
  • Inventory Management Training

Through this inventory management course, professionals will learn warehouse and inventory management systems in depth, preparing them to manage and optimize inventory control in various business settings successfully.


Online
30 Jun - 11 Jul 2024
2700 Euro
Sharm El-Sheikh (Egypt)
07 - 18 Jul 2024
6300 Euro
Barcelona (Spain)
15 - 26 Jul 2024
8500 Euro
Istanbul (Turkey)
11 - 22 Aug 2024
7500 Euro
Dubai (UAE)
11 - 22 Aug 2024
7000 Euro
Paris (France)
19 - 30 Aug 2024
8500 Euro
Brussels (Belgium)
26 Aug - 06 Sep 2024
6750 Euro
Barcelona (Spain)
02 - 13 Sep 2024
8500 Euro
Amsterdam (Netherlands)
09 - 20 Sep 2024
8500 Euro
Amman (Jordan)
15 - 26 Sep 2024
5200 Euro
London (UK)
16 - 27 Sep 2024
9300 Euro
Kuala Lumpur (Malaysia)
29 Sep - 10 Oct 2024
6500 Euro
Madrid (Spain)
30 Sep - 11 Oct 2024
8500 Euro
Rome (Italy)
14 - 25 Oct 2024
8500 Euro
Dubai (UAE)
10 - 21 Nov 2024
7000 Euro
Geneva (Switzerland)
11 - 22 Nov 2024
9500 Euro
Online
17 - 28 Nov 2024
2700 Euro
Manama (Bahrain)
01 - 12 Dec 2024
7000 Euro
Istanbul (Turkey)
15 - 26 Dec 2024
7500 Euro
Cairo (Egypt)
22 Dec 2024 - 02 Jan 2025
5400 Euro
Munich (Germany)
20 - 31 Jan 2025
8500 Euro
Cairo (Egypt)
26 Jan - 06 Feb 2025
5400 Euro
Dubai (UAE)
26 Jan - 06 Feb 2025
7000 Euro
Madrid (Spain)
27 Jan - 07 Feb 2025
8500 Euro
Milan (Italy)
27 Jan - 07 Feb 2025
8500 Euro
Online
02 - 13 Feb 2025
2700 Euro
Lisbon (Portugal)
10 - 21 Feb 2025
8500 Euro
Amman (Jordan)
23 Feb - 06 Mar 2025
5200 Euro
Amsterdam (Netherlands)
10 - 21 Mar 2025
8500 Euro
Boston (USA)
10 - 21 Mar 2025
9500 Euro
London (UK)
17 Mar 2025 - 20 Mar 2028
9300 Euro
Barcelona (Spain)
24 Mar 2025 - 20 Apr 0004
8500 Euro
Kuala Lumpur (Malaysia)
30 Mar 2025 - 20 Apr 2010
6500 Euro
Istanbul (Turkey)
06 Apr 2025 - 20 Apr 2017
7500 Euro
Sharm El-Sheikh (Egypt)
20 Apr 2025 - 20 May 0001
6300 Euro
Cairo (Egypt)
04 May 2025 - 20 May 2015
5400 Euro
Kuala Lumpur (Malaysia)
18 May 2025 - 20 May 2029
6500 Euro
Vienna (Austria)
19 May 2025 - 20 May 2030
8500 Euro
Casablanca (Morocco)
19 May 2025 - 20 May 2030
5400 Euro

Procurement, Logistics & Inventory Management Training Courses
Training Course in Inventory Management (PR)

 

Mercury dynamic schedule is constantly reviewed and updated to ensure that every category is being addressed at least once a month, if not once every week. Please check the training courses listed below and if you do not find the subject you are interested in, email us or give us a call and we will do our best to assist.