Inventory & Warehouse Management for Business Professionals

In most manufacturing enterprises, material content is 40% to 80% of the product cost. In distribution, it can be even higher. Service industries typically see lower percentages, but inventory still has significant cost and service impact. Participants in this course will learn the purpose of maintaining inventory, approaches to determine appropriate levels, and methods of physical control.

Programme Content

Module 1:  Elements and Focus of Modern Inventory Management

• Inventory Manager as a Money Manager
• Inventories place on the Organisation Balance Sheet
• Inventory Management Cycle
• The Profit Impact of Good Inventory Management
• Reasons for having inventory
• The Life Cycle of Inventory    

Module 2: Achieving Strategic Objectives through Inventory Management

• Twin Objective of Inventory Management
• The Cost of Carrying Inventory (K- Cost)
• Inventory Management vs. Inventory Control
• Identifying your Inventory Management Styles
• Building your Stock to Non Stock Profile
• Understanding your Stock to Non Stock Profile
• Using the Non Stock Stocking Criteria

Module 3: Stock Control Methods and Methodology

• Demand Driven Inventory Management
• Independent vs. Dependent Demand  
• What to buy? When to?  And how much to buy?
• Identifying Different Forecasting Techniques
• Monitoring and Reporting on Key Inventory Indicators  
• Inventory Management for Manufacturing Organisations  

Module 4: Storeroom / Warehouse Management

• Physical Layout of Storeroom / Warehouse
• Stock Classifications Systems
• Stock Coding Systems & Transactions Recording  
• Physical Stock Taking vs. Cycle Counting

Module 5: Storeroom / Warehouse Management

• Stores Warehousing Location and Layout
• Dealing with Excess and Obsolete Inventory
• Inventory Record Accuracy
• Dealing with Fraud in your Warehouse

Registration Information

• Registration for all Corporate Training courses can be done at the Champs Fleurs, Port-of-Spain, Trincity or San Fernando Campus.
• Payment of fees can be made by linx, credit card or cheque. SBCS is now CASH FREE!
• An administration fee of $100.00 is payable on all registrations.
• A late fee of $20 will apply on registrations within 1 week of commencement of class.
• A Certificate of participation is awarded to each participant upon satisfying 80% attendance of classes and/or any exam or course-work assigned by lecturer.
• Please note that all information is subject to change.  It is advisable to confirm all information before registration.

Schedule