Practical Inventory And Warehouse Management

Should you overstock or understock? Well, you should not do either as both may result in negative impact to your organisation’s finances. Similarly, poor inventory management could result in obsolete stock and even theft, causing financial lost.

Effective inventory and warehouse management requires adequate systems to be put in place to track items when they are in and when they go out. It is important that all inventories items in a warehouse are recorded in one place, so that the items can be found whenever they are required. Inventory management also has implications on customer service.

This two-day course will cover the most important aspects of inventory management from warehouse design and operations through forecasting requirements and parts variety reduction to evaluating inventory practices and building an effective inventory management plan of action.

Learning Objectives:

This course is designed to help participants understand the financial impacts of inventory and the risks in both over and under holding of inventory - the management of inventory, including lead time management, demand planning and interfacing with other functional groups directly and indirectly involved in inventory planning and operations.

It will give participants a good grasp of the importance of effective Warehouse Management in minimizing the cost associated with the storing, moving, and transporting of goods into and out of the warehouse storage locations.  

The course will also help learners realise the significance of reconciled physical count balances and system records, and most importantly, the efficient, fast, precise, and perfectly timed issuances of the right quality & quantity of stocks to its intended users.

By the end of this training programme, participants will be able to apply the four key aspects of inventory management, namely:

• Optimise inventory levels
• Build an inventory management plan
• Design & manage warehouse operations
• Increase accuracy, traceability & reduce parts variety