Mastering Asset And Inventory Management

At first glance stock management may seem like a simple exercise.  However, having too little or too much stock on hand may have an impact on the company’s overall profitability in ways that are not immediately obvious. 

How fixed are fixed assets?  How stocked should you be?   Fixed assets can become burdensome when newer technologies require that they be replaced.  Certain stock items may not have sufficient shelf life. 

It is also important to understand the difference between stock and the fixed assets of the business and how both should be managed so as to ensure that they are fresh enough on the shelves to positively impact the business.

Course Outline

The material covered in this course will help you to understand the difference between fixed assets and stock in a business unit and how they can be managed to maximize profitability.

• Explain the management of fixed assets in a business unit.

• Explain the influence that stock management can have on the profitability of a business.

• Apply the basic principles of stock and fixed asset management to a business unit.

• Differentiate between fixed assets and stock in a business unit.

• Understand what is meant by the term fixed assets,

• Understand what is meant by the term stock.

• Understand how technology affects profitability in terms of fixed assets.

BOTI offers office administration short courses, office management training and office administration training programmes.  Book your seat now on BOTI’s Mastering Asset and Inventory Management course.  BOTI offers business training programmes across South Africa.

Benefits of attending:  Mastering asset and inventory managementcourse

Upon successful completion of this course you will have mastered the principles of stock and fixed asset management and will have developed your skills in the following areas:

• Understanding the differences between fixed assets and stock in a business unit.

• Identify the different fixed assets in a business unit and the purpose for those assets.

• Identify stock in a business unit and compile a list of items that are needed.

• Understand the problems that can occur in a business unit as a result of insufficient stock and develop a plan to ensure that stock is available as required.

• Understanding the different ways of managing stock with reference to records and stocktaking.

• Understanding the importance of quality, time, price and source in managing stock.

• Calculate the rate of stock turnover for a business unit with a view to assisting with the planning process.

• Apply an Economic Ordering Quantity Model (EQQ) to a business unit in order to calculate optimum stock levels required.

• Understand the management of fixed assets in a business unit.

• Understand the valuation of assets in a business unit with reference to depreciation and investment.

• Understand the reasons and purpose for depreciation.

• Apply the basic principles of stock and fixed asset management to a business unit.

• Identify and quantify the risk associated with the management of stock in a business unit in terms of probability and severity.

• Apply a system for managing stock in a business unit with reference to ensuring sufficient stock, cost control and stock value.

• Formulate a plan to minimize the risks associated with fixed assets in a business unit.

Who Should Attend?

This course is aimed at supervisors, team leaders and managers who are seeking to improve their general management skills.