INVENTORY/STOCK CONTROL
Registrations are closed
Live-Online Training: N145,125
Classroom Training: N 220,375
3 - 4 participants: 5% discount
5 or more participants: 10% discount
(Available also for Customised Training by Duration, Venue & Fee)
Programme Objectives
This course delivers four broad competencies:
- Reasons for holding Inventory
- Accurate Inventory records
- Difference between Stock recording and Inventory control
- Security of Stores.
Course Contents
DAY ONE
Reasons for Inventory
- Forecasting Future Demands
- Demand patterns
- Trends
- Seasonal variations
- Random fluctuations
- Sporadic demand
When to Order
- Safety stocks
- Re-Order levels
- Standard deviation
- Service factors.
DAY TWO
How Much to Order
- Economic Order Quantity
- Lot sizing
- Forecasting
- MRP and ERP
- Time Phasing
- Explosion Routines
- Schedule Regeneration
- Just-in-Time
Financial Considerations
- Inventory turnover
- Effects on the cash flow
- Effects on the working capital
- Profitability - the Return on Investment
Managing the Costs
- Inventory cost implications
- Ordering cost
- Running costs
- Cost of money
- Wastage
- Insurance
DAY THREE
Systems of Inventory Management
- ABC Analysis
- Quantity Based Systems
- Time Based Systems
- Differential Stock Control
- Consignment Stock
- Vendor Maintained Inventory
- Kanban
Stocktaking
- Reasons
- Periodic
- Continuous
- Treatment of Discrepancies
Obsolete Redundant and Surplus Stocks
- Identification
- Disposal.