Inventory and Stock Control Management Conference

Introduction

Knowledge of inventory and stock control management is critical for effectively managing procurement and the supply chain; however, inventory is commonly misunderstood. Therefore, inventory levels should be lowered, with attendant cost increases and product obsolescence.

The inventory and stock control management conference provides comprehensive training and insights into the intricacies of inventory management and control. This conference offers a deep dive into topics such as inventory management training, inventory control management, and the process of inventory management and control.

Participants gain a clear understanding of stock control management, including quality control and inventory management methodologies. Through workshops, seminars, and discussions, attendees learn about the management inventory control process and stock management training techniques.

Whether seeking to optimize inventory management systems or enhance stock control management, this inventory and stock control management conference equips you with the knowledge and tools needed to excel in the field. Join us to explore the latest trends, strategies, and best practices in inventory and stock control management.

Enhancing Inventory Management and Control

Effectively managing inventory and stock control is essential for maintaining cost efficiency while ensuring product availability. Participants in this inventory and stock control management conference will gain insights into the fundamental principles of inventory management and control, exploring how these can lead to improved operational performance and the successful management of procurement and supply chain processes.

Targeted Groups

• Procurement Professionals.
• Logistic Professionals.
• Warehouse and Stores Managers.
• Purchasing Professionals.
• Supply Chain Professionals.

Conference Objectives

At the end of this inventory and stock control management conference, the participants will be able to:

• 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.
• Learn 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.

Targeted Competencies

Upon the end of this inventory and stock control management conference, the target competencies will be able to:

• Supply chain management.
• Enhancing customer value.
• Warehouse design.
• Warehouse operation.
• Inventory management.
• Transportation management.
• Stock and inventory analyzing.
• Productivity improvements.
• Balancing cost and service requirements.
• A framework for continual improvement.

Conference Content

Unit 1: 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 2: Inventory Key Concepts

• Key Component: Demand Analysis.
• Key Component: Demand Forecasting.
• Key Component: Supply Lead Time.
• Key Component: Cost and Benefits.
• Inventory benefits.
• Inventory policies.
• Inventory in organizations.

Unit 3: 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 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 Performance

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

Unit 8: 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 9: 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.