INTRODUCTION
Warehouse is essential for an industrial
unit. It is the depository of all materials required by the industrial unit and
supplies materials as and when required. Inventory
Control and Warehouse Management is critical in operations as inventory is a
current asset to a firm. This course focuses on optimizing the development,
management and maintenance of strategies of inventory control and warehouse
management. It enables professionals to gain command of the key elements of a
successful operation and provides a guide to complementing warehousing
activities with prudent inventory control management techniques.
COURSE OBJECTIVES
By the end of this course the participants will be able to:
·
Understand
the different types of inventories and importance of inventory to
organizations.
·
Know
the principles and purpose on inventory management and control.
·
Understand
the costs associated with inventory management.
·
Be
knowledgeable in Inventory verification and valuation methods.
·
Understand
the different approaches for effective management of dependent demand and
independent demand inventories and when to apply them.
·
Know
the fundamentals of warehousing and stock handling.
·
Understand
the organizational structure and functional responsibilities in inventory and
warehousing.
·
Know
how to measure and improve inventory management performance.
DURATION
10
days
WHO SHOULD ATTEND
This
course targets Finance, procurement, and supply
chain professionals looking for ways to become more effective and efficient by
improving their inventory management methodologies. Warehouse managers and
warehouse employees.
COURSE CONTENT
Module 1: Warehouse Management
Warehouse Organization
·
Introduction
to warehouse organization
·
Position
of Warehouse/stores in the organization
·
Organization
structure of stores division
·
Organization
matters for efficient working of stores division
·
Delegation
of authority
Requisitions and Replenishment of Materials
·
Need
for requisitioning the material
·
Replenishment
of stock items
·
Preparation
of materials requisition report
·
Dispatch
of requisition to user department
·
Review
order quantity
Performance Evaluation of Stores Activities
·
Criticism
of stores division
·
Poor
inventory control
·
Improper
store-keeping and Tools Management
·
Performance
indicators and evaluation
·
How
is performance evaluation carried out
ISO Standards and Warehouse Activities
·
Introduction
to ISO standards
·
The
importance of ISO standards
·
Registration
for ISO certification
·
Warehouse
activities and quality assurance
·
Stores
division activities in conformance to ISO 9001
Warehouse Location, Layout, and Facilities Planning
·
Number
and size of stores
·
Location
of stores
·
Layout
planning of warehouse
·
Physical
facilities planning
Warehouse Security, Safety, and Maintenance
·
Security
·
Entry
to warehouse
·
Management
of warehouse keys
·
Closing
of warehouse
·
Issue
to authorized individuals
Module2: Inventory Control
Inventory Classification and Strategies
·
Advantages
of classification of inventory
·
Regular
inventory item
·
In-process
inventories
·
Finished
goods inventory
·
Strategic
considerations in the control of finished goods inventory
·
Market
research
Codification and Standardization
·
Methods
of Codification
·
Variety
reduction
·
Advantages
of standardization
·
Situations
where standardization is not preferred
·
Types
of standards
·
Standardization
program
Inventory Control Model
·
Theoretical
inventory control model
·
Elements
of inventory control model
·
Dynamic
nature of the inventory control model
·
Maintenance
requirements
·
Reorder
point fluctuations
Inventory Control Techniques
·
Best
order quantity
·
Economic
Order Quantity (EOQ) defined
·
Determining
Economic Order Quantity (EOQ)
·
Variable
costs
·
ABC
analysis
·
Other
techniques of analysis
Effective Management of Inventory
·
Factors
influencing the stocking of inventory
·
Appropriate
maintenance techniques
·
Administrative
and financial factors
·
Steps
for management of inventory
·
Diagnostic
survey
·
Reconditioning
and overhauling of inventory
Valuation of Inventory
§
Importance
of valuation of inventory
§
Valuation
of material issues
§
First
in First Out (FIFO)
§
Last
in First Outs
§
Highest
in First Out (HIFO)
§
Next
in First Out (NIFO)
§
Simple
average method
§
Weighted
average cost method
§
Factors
considered in selection of method of valuation of inventory
GENERAL
NOTES
·
This course is delivered by our seasoned trainers who have
vast experience as expert professionals in the respective fields of practice.
The course is taught through a mix of practical activities, theory, group works
and case studies.
·
Training manuals and additional reference materials are
provided to the participants.
·
Upon successful completion of this course, participants will
be issued with a certificate.
·
We can also do this as tailor-made course to meet
organization-wide needs. Contact us to find out more: training@skillsforafrica.org
· The training will be conducted at SKILLS FOR AFRICA TRAINING
INSTITUTE IN NAIROBI KENYA.
· The training fee covers
tuition fees, training materials, lunch and training venue. Accommodation and
airport transfer are arranged for our participants upon request.
·
Payment should be sent to our bank account before start of
training and proof of payment sent to: training@skillsforafrica.org
Dates | Fees | Location | Apply |
---|---|---|---|
05/06/2023 - 16/06/2023 | $3000 | Mombasa | Physical Class Online Class |
03/07/2023 - 14/07/2023 | $3500 | Kigali | Physical Class Online Class |
07/08/2023 - 18/08/2023 | $2700 | Nairobi | Physical Class Online Class |
04/09/2023 - 15/09/2023 | $3000 | Mombasa | Physical Class Online Class |
02/10/2023 - 13/10/2023 | $3500 | Kigali | Physical Class Online Class |
06/11/2023 - 17/11/2023 | $3000 | Mombasa | Physical Class Online Class |
04/12/2023 - 15/12/2023 | $2700 | Nairobi | Physical Class Online Class |