INTRODUCTION
A warehouse is vital for any industrial operation, serving as the storage point for all materials required by the unit. Efficient inventory control and warehouse management are essential for the smooth operation of any business, as inventory constitutes a significant asset. This course will help professionals optimize the development, management, and maintenance of inventory control strategies and warehouse operations. It is designed to provide participants with the key skills to effectively manage warehouses, from inventory verification and valuation to improving stock handling and performance.
COURSE OBJECTIVES
By the end of this course, participants will be able to:
- Understand the different types of inventories and their importance in organizations.
- Learn the principles and purpose of inventory management and control.
- Understand the costs associated with inventory management.
- Become knowledgeable in inventory verification and valuation methods.
- Understand the management approaches for dependent and independent demand inventories and when to apply them.
- Gain insights into the fundamentals of warehousing and stock handling.
- Understand the organizational structure and functional responsibilities in inventory and warehouse management.
- Learn how to measure and improve inventory management performance.
DURATION
10 days
WHO SHOULD ATTEND
This course is ideal for finance, procurement, and supply chain professionals seeking to improve their inventory management processes. It is also suitable for warehouse managers and employees.
COURSE CONTENT
MODULE 1: WAREHOUSE MANAGEMENT
Warehouse Organization
- Introduction to warehouse organization
- Position of the warehouse/stores in the organization
- Organization structure of the stores division
- Organizational matters for efficient warehouse operations
- Delegation of authority
Requisitions and Replenishment of Materials
- Need for requisitioning materials
- Replenishment of stock items
- Preparation of materials requisition reports
- Dispatching requisitions to the user department
- Reviewing order quantities
Performance Evaluation of Warehouse Activities
- Critique of warehouse operations
- Improper store-keeping and tools management
- Performance indicators and evaluation methods
- Evaluating warehouse performance
ISO Standards and Warehouse Activities
- Introduction to ISO standards
- The importance of ISO standards
- Registration for ISO certification
- Warehouse activities in conformance with ISO 9001
Warehouse Location, Layout, and Facilities Planning
- Determining the number and size of warehouses
- Location of warehouses
- Warehouse layout planning
- Physical facilities planning
Warehouse Security, Safety, and Maintenance
- Warehouse security measures
- Entry management
- Managing warehouse keys
- Warehouse closing procedures
- Issuing items to authorized individuals
MODULE 2: INVENTORY CONTROL
Inventory Classification and Strategies
- Advantages of inventory classification
- Regular inventory items
- In-process inventories
- Finished goods inventory management
- Strategic considerations in controlling finished goods inventory
- Market research for inventory control
Codification and Standardization
- Methods of codification
- Advantages of standardization
- Types of standards
- When standardization is not preferred
Inventory Control Models
- Theoretical models for inventory control
- Elements of inventory control models
- Dynamic nature of inventory control models
- Maintenance and reorder point requirements
Inventory Control Techniques
- Best order quantities
- Economic Order Quantity (EOQ)
- ABC analysis
- Other inventory analysis techniques
Effective Management of Inventory
- Factors influencing inventory stocking
- Appropriate maintenance techniques
- Steps for inventory management
- Reconditioning and overhauling inventory
Valuation of Inventory
- Importance of inventory valuation
- Methods for valuing material issues
- First in, First Out (FIFO), Last in, First Out (LIFO), Highest in, First Out (HIFO), and Simple Average methods
- Factors influencing valuation methods
GENERAL NOTES
- Our courses can be customized to meet specific participant needs.
- Participants should be proficient in English.
- Training includes well-structured presentations, practical exercises, and group work. Our facilitators have over 10 years of experience.
- Upon completion, participants will receive a certificate from Stepsure Training and Research Institute.
- Training will be conducted at Stepsure Training and Research Institute centers. In-house and online training options are also available.
- Course duration is flexible, and content can be adjusted to fit the number of days required.
- The course fee for onsite training includes facilitation, training materials, coffee breaks, and a buffet lunch. Participants are responsible for their travel expenses and personal arrangements.
- Accommodation, airport transfers, and visa processing can be arranged on request at discounted rates.
- Tablets and laptops are available for participants on request at an additional cost.
- One-year free consultation and coaching after the course.
- Group discounts (10% to 50%) are available for registrations of more than two participants.
- Payment should be made before the start of training or as agreed upon by both parties to allow for better preparation.
- For inquiries, contact us at info@stepsureresearchinstitute.org or +254 723 482 495.
- Visit our website: www.stepsureresearchinstitute.org
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