Inventory Control And Warehouse Management Training Course

INTRODUCTION

Effective warehouse management is crucial for any industrial unit, serving as the central repository for all materials required for operations. Similarly, inventory control plays a crucial role as it represents a significant portion of a firm's current assets. Mismanagement in these areas can lead to operational bottlenecks, increased costs, and ultimately, a loss in competitive advantage. This workshop on Inventory Control and Warehouse Management is designed to provide participants with a comprehensive understanding of the best practices in inventory control and warehouse management. It focuses on optimizing the strategies for the development, management, and maintenance of these essential functions. Participants will be equipped with the knowledge to streamline operations, reduce inefficiencies, and enhance the overall performance of their inventory and warehousing activities. By delving into the key elements of successful operations, this course offers a detailed guide to integrating warehousing activities with effective inventory control techniques. Participants will learn to implement strategies that ensure a smooth flow of materials, minimize storage costs, and maintain accurate inventory records. This holistic approach ensures that organizations can respond promptly to market demands, maintain high levels of customer satisfaction, and achieve operational excellence.

Course Objectives

By the end of this course on Inventory Control and Warehouse Management, participants will be able to:

• Understand the different types of inventories and their importance to organizations
• Grasp the principles and purposes of inventory management and control
• Recognize the costs associated with inventory management
• Gain knowledge in inventory verification and valuation methods
• Apply different approaches for managing dependent and independent demand inventories
• Master the fundamentals of warehousing and stock handling
• Understand the organizational structure and functional responsibilities in inventory and warehousing
• Measure and improve inventory management performance

Duration

10 Days

Who Should Attend

This course on Inventory Control and Warehouse Management is designed for finance, procurement, and supply chain professionals seeking to improve their inventory management methodologies, as well as warehouse managers and 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
  • Delegation of authority
• Requisitions and Replenishment of Materials 
  • Need for requisitioning material
  • Replenishment of stock items
  • Preparation of materials requisition report
• Performance Evaluation of Stores Activities 
  • Criticism of stores division
  • Poor inventory control
  • Performance indicators and evaluation
• ISO Standards and Warehouse Activities 
  • Introduction to ISO standards
  • Importance of ISO standards
  • Warehouse activities and quality assurance
• Warehouse Location, Layout, and Facilities Planning 
  • Number and size of stores
  • Layout planning of warehouse
• Warehouse Security, Safety, and Maintenance 
  • Security management
  • Entry and access control
  • Issue to authorized individuals

Module 2: Inventory Control

• Inventory Classification and Strategies 
  • Advantages of classification
  • Strategic considerations in controlling inventory
• Codification and Standardization 
  • Methods of codification
  • Advantages and challenges of standardization
• Inventory Control Model 
  • Elements of the inventory control model
  • Dynamic nature and maintenance requirements
• Inventory Control Techniques 
  • Economic Order Quantity (EOQ)
  • ABC analysis
  • Other analysis techniques
• Effective Management of Inventory 
  • Factors influencing inventory stocking
  • Maintenance techniques
  • Administrative and financial factors
• Valuation of Inventory 
  • Importance of inventory valuation
  • Valuation methods (FIFO, LIFO, HIFO, NIFO, etc.)
  • Factors considered in selection of valuation methods

General Notes

• The course is delivered by seasoned trainers with extensive professional experience.
• Training includes a mix of practical activities, theoretical knowledge, group work, and case studies.
• Participants receive comprehensive training manuals and additional reference materials.
• A certificate is awarded upon successful course completion.
• Custom-tailored courses to meet specific organizational needs are available. Contact us at training@skillsforafrica.org for more information.
• The training will be conducted at the Skills for Africa Training Institute in Nairobi, Kenya.
• The training fee covers tuition, materials, lunch, and the training venue. Accommodation and airport transfer can be arranged upon request.
• Payment should be made to our bank account before the training starts, and proof of payment sent to: training@skillsforafrica.org