Warehouse Operations and Management

Introduction:

Warehouses and Inventory Management are critical for the effective management of procurement and the supply chain to enable the efficient delivery of superior customer service.

Warehouses and Inventory controls are often overlooked and are not thought to be an important activity. Therefore, incorrect levels of inventory can be held with attendant knock-on effects on costs, availability, and customer service.

Targeted Groups:

• Procurement Managers
• Procurement Professionals
• Warehouse Managers
• Inventory Managers
• Logistics Professionals
• Supply Chain Professionals

Course Objectives:

• At the end of this course the participants will be able to:
• Evaluate procedures, change and improve methods wasteful activities and excess costs.
• Discover all of the essential tools for the effective management of warehousing and inventory
• Achieve the best-in-class performance is exactly what this program is about.
• Use all of the practical skills to take back to the workplace so that all those internal problems that limit performance are avoided.
• Learn the principles of Warehouse and Inventory Management
• Examine operations and activities
• Analyze the key areas of operations
• Identify and understand key performance indicators
• Succeed in improving operations
• Improve personal productivity
• Make needed changes to methods to improve customer service whilst achieving reductions in inventory
• Eliminate wasteful costs
• Avoid those internal problems that limit performance
• Obtain added value for money
• Understand and implement the essential tools for managing warehouses and inventory in the supply chain

Targeted Competencies:

• Understanding the stock analyzing
• Gaining from making productivity improvements in all operations
• Understanding the warehouse equipment selecting and maintaining
• Conducting safe working practices and operations
• Applying a framework for continual improvement
• Gaining the financial benefits that effective warehouse and inventory management can bring

Course Content:

Unit 1: The Role of the Warehouse:

• Why we need a warehouse,
• What functions they cover,
• How do they fit into the supply chain
• The balance between sorting and storing
• 12 initial questions to ask about warehousing activity

Unit 2: Product Classification:

• Supply / Demand variables
• ABC Analysis or the 80/20 rule
• Determining product handling groups
• Throughputs and product formats

Unit 3: Inventory 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
• The Supply Chain Rules
• Inventory and statistics
• Concept of service level
• Key Component: Demand Analysis
• Key Component: Demand Forecasting
• Key Component: Supply Lead Time
• Key Component: Cost & Benefits
• Inventory benefits
• Inventory policies
• Inventory in organizations

Unit 4: Inventory Replenishment Methods and Systems:

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

Unit 5: Stock Control- Recording and Coding:

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

• Inventory Performance
• Assessing the stock level
• Models for implementing inventory control
• Determining stock targets
• Inventory questions
• Inventory KPI's in warehouses/stores