Inventory and Planning Management (Certified By ILM)

Start Date End Date Venue Fees (US $)
13 Oct 2024 Dubai, UAE $ 3,900 Register
29 Dec 2024 Riyadh, KSA $ 3,900 Register

Inventory and Planning Management (Certified By ILM)

Introduction

As an inventory control & warehouse professional, you probably already know what to do to forecast future inventory needs maintain acceptable levels of inventory and safety stock good handling for the warehouse operations and keep accurate inventory records. But in a world filled with human error lost and misplaced overstock and unrealistic demands from customers, coworkers, management, vendors and suppliers, you need real-world answers about HOW you can organize, build and maintain the smoothest‐running inventory management system possible. Come and experience our activity‐based training course that ensures all participants understand the importance of warehousing and the latest development in inventory rationalization.

Objectives

    Participants attending the program will:

    • Be provided with a thorough understanding of the knowledge, skills and competency
    • required to plan and control the materials at the workplace.
    • Plan the right amount of materials so as to reduce the inventory holding cost
    • Be provided with adequate theft preventive measures.
    • Be in a position to apply their new skills directly to their everyday working environment.
    • Plan and control stock successfully and cost effectively using proven techniques of inventory management.
    • Forecast demand and control lead time.
    • Classify, count and reduce inventory.
    • Reduce inventory investment and surplus.
    • Use the right Key Performance Indicators (KPIs) for the measurement and evaluation of the inventory department.

Training Methodology

ILM is the UK’s leading provider of leadership, management and coaching qualifications, and a City & Guilds Group Business. ILM offers a specialist suite of qualifications ranging from Level 2 to Level 7, which are awarded by The City and Guilds of London Institute. ILM also specialises in assessment, learning content, recognition and the accreditation of high-quality training in the fields of leadership, management and coaching. ILM offers leadership and management qualifications through our network of accredited centres worldwide. Not only are ILM’s qualifications industry standard, ranging from team-leading programmes to diplomas for senior directors, but they help retain and motivate staff too.

Who Should Attend?

In addition to materials on Microsoft Word, Instructor will use power point presentation. Participants will increase their knowledge base and skill sets through a variety of instructional methods including lectures by an experienced instructor and consultant who has been there done that", individual and group exercises, case studies, group discussions and interactions covering current practices and their relationship to the implementation of new concepts.

Course Outline

Day (1)

An Overview of Material & Inventory Management

  • What is Material & Inventory Logistic Management all about?
  • The Roles, Responsibilities and Functions of Material & Inventory planning & control.
  • Meeting the Manager and Management’s expectation.

Importance of Materials Management

  • Know the Benefits of Material & Inventory control
  • What is the Central Role of Materials in an Organization

Day (2)

Description and Classification of Inventory

  • Types of Inventory
  • The ABC Inventory Classification
  • Inventory classification methods
  • Materials Specifications/Cataloguing

Forecasting Demand and Lead Time

  • Importance of forecasting
  • Quantitative methods
  • Qualitative methods

Day (3)     

  • Techniques of Forecasting
  • Seasonal Demand
  • Moving Average
  • Control of Lead Time

Inventory Systems

  • Inventory Costs
  • The Max‐Min System
  • When and How Much to Order (EOQ)
  • Controlling Safety Stocks
  • How to Deal with Quantity Discounts

Day (4)      

Counting and Controlling Inventory

  • Counting Methods and Accuracy
  • Periodic and Cycle Counting

Reducing Inventory Investment

  • Identification and Disposal of Surplus

Day (5)

  • Material Requirements Planning (MRP)
  • Just‐In‐Time (J.I.T.) Method

Measuring Inventory Management Performance

  • Key Performance Indicators (KPIs) and Targets
  • Qualities of the Inventory Specialist

 

Accreditation

Related Courses