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Procurement, Logistics & Inventory Management Training Courses


Excellence in Warehouse and Inventory Management Course

Introduction:

Warehouses and inventory management are critical components for effective procurement and supply chain management, facilitating efficient delivery of superior customer service. Through proper warehouse management and inventory control, businesses can maintain optimal inventory levels, reducing associated costs and enhancing customer satisfaction.

In this warehouse and inventory management Excellence course, participants will delve into the foundational aspects of warehouse operations and inventory management, explore various systems, and gain insights into best practices within the industry.

Upon completing the warehouse and inventory management Excellence course, participants will receive a certificate in inventory control warehouse management, validating their enhanced skills and knowledge in effective warehouse and inventory management.

This certification demonstrates a commitment to professional development in warehouse and inventory management. It acknowledges the comprehensive understanding gained through this course, encompassing warehouse management and inventory control.

Inventory and Warehouse Management Best Practices

This course will focus on effective inventory and warehouse management best practices. Participants will learn about cutting-edge techniques and methodologies that improve warehouse operations and inventory processes. By implementing these best practices, businesses can achieve an inventory and warehouse management system that promotes efficiency, accuracy, and customer satisfaction.

Understanding the intricacies of inventory and warehouse management processes is key to operational success. In this segment, the warehouse and inventory management Excellence course, we will cover the essential processes that span from stock receipt to item retrieval, ensuring accuracy and effectiveness in managing the flow of goods.

Targeted Groups:

  • Supply chain and all logistics, materials, inventory, stock, warehouse, and distribution professionals.
  • It will also help those who need to develop their limited understanding of warehouse and inventory management.
  • It will be especially helpful to all those looking to make business gains and benefits and to any owners, operators, and directors of companies with warehouse and store operations who hold stock and inventory.

Course Objectives:

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

  • Learn the principles of warehouse and inventory management.
  • Evaluate current procedures.
  • 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 while achieving reductions in inventory.
  • Reduce 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:

Upon completion of this warehouse and inventory management Excellence course, the target competencies will be able to improve:

  • Stock analyzing.
  • Making productivity improvements in all operations.
  • Warehouse equipment selection and maintenance.
  • 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 do we need a warehouse?
  • What functions do 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: Layout Options:

  • Receiving options.
  • Storage options.
  • Picking/assembly options.
  • Dispatching options.
  • Using the floor and the height space.
  • Organizing for flow.

Unit 4: Methods and Equipment:

  • Warehouse structures.
  • Loading bays.
  • Selecting forklift trucks.
  • Selecting racking.
  • Implications for warehouse layouts.
  • Operational timings and planning.

Unit 5: Health and Safety:

  • Duty of care.
  • Inspections and risk assessment analysis.
  • Equipment maintenance and care.
  • Raising people\'s awareness.

Unit 6: Security and Loss:

  • Minimizing internal theft.
  • Minimizing external theft.
  • Preventative measures will be briefly discussed.

Unit 7: Productivity and Costs:

  • Fixed and variable costs.
  • Typical costs involved.
  • A model for understanding the roles of productivity, utilization, and performance.
  • Setting productivity and cost targets.
  • The importance of having measurements and key indications of performance.

Unit 8: Service Levels:

  • Internal and external customers.
  • The three key customer service measures.
  • Customer service sampling.
  • Effects of substandard service.
  • Minimizing errors.

Unit 9: Warehouse Layout:

  • Different types of layouts have advantages and disadvantages.
  • Planning for flow in the warehouse.
  • Checklists to help in deciding the best option.

Unit 10: 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.

Unit 11: Inventory Key Concepts:

  • Key component: Demand analysis.
  • Key component: Demand forecasting.
  • The key component is supply lead time.
  • Key component: Cost and benefits.
  • Inventory benefits.
  • Inventory policies.
  • The inventory in organizations.

Unit 12: 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 include Reorder Point and Reorder Level (ROP/ROL).
  • Requirements planning systems include Materials/Manufacturing Resource/Requirements Planning (MRP / MRPII).

Unit 13: Stock Control-Coding:

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

Unit 14: Stock Control-Recording:

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

Unit 15: Stock Control-Checking:

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

Unit 16: Inventory Performance:

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

Unit 17: Inventory 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 18: Inventory 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.

Procurement, Logistics & Inventory Management Training Courses
Excellence in Warehouse and Inventory Management Course (PR4049)

 

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.

Istanbul Office (Turkey)

training@mercury-training.com +905395991206

London (UK)

training@mercury-training.com +447481362802

Amman (Jordan)

training@mercury-training.com +962785666966