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.
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 Level:
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.
Course Outline
Module 1: Fundamentals of Inventory Management
- Understanding the Role of Inventory in Supply Chain Management
- Types of Inventory: Raw Materials, Work-in-Progress, and Finished Goods
- Key Inventory Management Concepts: Lead Time, Reorder Point, and Safety Stock
- Inventory Costs: Holding, Ordering, and Shortage Costs
- Case Study: Analysis of Inventory Management Practices in a Retail Chain
Module 2: Inventory Control Techniques
- ABC Analysis and its Application in Inventory Prioritization
- Economic Order Quantity (EOQ) and Just-in-Time (JIT) Inventory Systems
- Continuous vs. Periodic Inventory Systems
- Technology in Inventory Control: RFID and Barcode Systems
- Case Study: Implementation of EOQ in a Manufacturing Company
Module 3: Warehouse Layout and Design
- Principles of Efficient Warehouse Layout
- Storage Systems: Racks, Shelving, and Automated Storage
- Design Considerations: Space Utilization and Workflow Optimization
- Safety and Compliance in Warehouse Design
- Case Study: Redesigning a Warehouse Layout for Maximum Efficiency
Module 4: Warehouse Operations Management
- Receiving, Inspection, and Storage of Goods
- Order Picking and Packing Techniques
- Inventory Audits and Cycle Counting
- Managing Warehouse Workforce and Equipment
- Case Study: Optimizing Warehouse Operations for an E-commerce Business
Module 5: Technology in Warehouse Management
- Introduction to Warehouse Management Systems (WMS)
- Integration of WMS with Enterprise Resource Planning (ERP) Systems
- Automation in Warehousing: Robotics and Drones
- Data Analytics for Warehouse Optimization
- Case Study: Adoption of WMS in a Logistics Company
Module 6: Demand Forecasting and Inventory Planning
- Importance of Accurate Demand Forecasting
- Quantitative and Qualitative Forecasting Methods
- Inventory Buffering Strategies to Handle Uncertainty
- Aligning Inventory Plans with Market Trends
- Case Study: Demand Forecasting for Seasonal Products
Module 7: Supply Chain and Logistics Integration
- Role of Warehousing in the Supply Chain
- Collaboration between Inventory Control and Transportation Management
- Streamlining Distribution Channels for Efficiency
- Cross-Docking and Drop-Shipping Strategies
- Case Study: Integrating Warehousing into a Global Supply Chain
Module 8: Risk Management in Inventory and Warehousing
- Identifying Risks in Inventory and Warehouse Management
- Mitigating Stockouts and Overstock Situations
- Managing Supply Chain Disruptions
- Contingency Planning and Business Continuity
- Case Study: Risk Mitigation in Warehouse Operations
Module 9: Performance Measurement and KPIs
- Key Performance Indicators for Inventory Management
- Measuring Warehouse Efficiency: Fill Rate and Turnover Ratio
- Analyzing Inventory Accuracy and Discrepancy
- Continuous Improvement Techniques for Warehousing
- Case Study: Using KPIs to Improve Performance in a Distribution Center
Module 10: Sustainable Practices in Inventory and Warehousing
- Green Warehousing: Energy Efficiency and Waste Reduction
- Sustainable Inventory Practices: Reducing Excess Stock and Obsolescence
- Reverse Logistics and Returns Management
- Leveraging Technology for Sustainable Supply Chain Practices
- Case Study: Implementing Sustainable Practices in a Logistics Hub
Related Courses
Course Administration Details:
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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