Course Schedule

Date	Venue	Fees
22 - 26 May 2023	Dubai - UAE	$5,950
24 - 28 Jul 2023	Istanbul - Turkey	$5,950
11 - 15 Sep 2023	Dubai - UAE	$5,950

Course Description

Introduction

Inventory and Stock Control Management is critical in operations as inventory is a current asset to a firm. Carrying inventory comes with a certain degree of risk. This risk is a component of the cost of carrying inventory. When a company stocks items in the warehouse, there is always the risk that the items may fall in real value during the period they are stored. If a company stored parts for their work centers or equipment, the parts in the warehouse could be worth far less than the price that was originally paid and any losses, excess, obsolete and miss-managed inventory means a reduction in the company equity.

This GLOMACS Purchasing & Logistics training seminar on Inventory and Stock Control Management focuses on the techniques when companies are looking to reduce costs as at times they ignore the inventory sitting in their warehouses and the cost of carrying that inventory. It is important for businesses to carefully examine all the costs of carrying inventory and determine where they can make changes to reduce that cost and help with the company’s bottom line.

The purpose of this GLOMACS training seminar is to:

Enable delegates to evaluate Inventory visibility levels and segmentation approaches
Examine stocking level criteria through assignment practices
Types of tools used for inventory optimization
Current integration practices between materials management systems and asset management systems
Understanding that minimizing inventory holdings reduces overhead costs and, hence, improves the profitability performance of the enterprise
Understand and implement the "world class" tools for managing inventory in the supply chain

Objectives

This GLOMACS training seminar will help you learn how to:

Improve management of inventories reaching from receiving products to storage and delivering
See that movement to the end-user adds value
Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity.
Look “outside of the box”
Understand the appropriate Inventory methods to be applied
Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process

Training Methodology

This GLOMACS Purchasing & Logistics training seminar on Inventory & Stock Control Management will be presented by a competent Professional who has designed successful inventory control measures.

Participants will learn by active participation during the seminar through the use of exercises, questionnaires, syndicate and group discussion, training videos and practical on-hand application of inventory and stock control tools.

Organisational Impact

Examine the link of inventory in the company supply chain operations and activities
Analyse the key areas of operation
Identify and understand key performance indicators
Succeed in improving operations
Apply the right cost and service balance
Gain a competitive advantage

Personal Impact

How to analyse stock and inventory?
How to make productivity improvements?
Understand the Role of Inventory in the Supply Chain
Balancing Cost and Service Requirements
A Framework for Continual Improvement
Best in Class Practices

Who Should Attend?

Those New to Managing Inventory
Those Non inventory people who need to gain an awareness of the issues and key drivers of stock control operations
Inventory, Stock, Supply Chain, Logistics, Warehouse and Distribution Professionals

Course Outline

DAY 1

Inventory and the Supply Chain

Inventory Definitions and Importance
Inventory Flow in the Supply Chain
The Basic Rules of Successful Supply Chain
Supply Chain and Inventory Dynamics
Financial Management and Inventory
Statistics Application in Inventory Control
Truths on Inventory Visibility

DAY 2

Key Components to Understanding Effective Inventory Control

End-User Demand Analysis
Forecasting for Operations and Maintenance
Understanding Supply Lead Time
Cost & Benefits Analysis
Developing Inventory Policies
The Need for Inventory in Organizations

DAY 3

Inventory Mechanics, Methods and Systems

Basic Mechanics of Inventory Systems
Establishing Order Quantity
Implications of Free Stock in Inventory
Simple Replenishment Methods, for example, Min / Max
Replenishment Methods, Reorder Point and Reorder Level (ROP / ROL)
Requirements Planning Systems, Bills of Material and Inventory Planning
Class Assignment Inventory Control Methods

DAY 4

Establishing Stock Control

Establishing Stock Checking
Developing Stock Accuracy
Stock Tolerances and Approvals
Stock Reconciliations / Discrepancies
Identifying Surplus and Obsolescent Stock
Identifying Different Storage Conditions
Understanding Stock Coding
Stock Variety Reductions

DAY 5

Understanding Inventory Strategies

Creating Inventory Policy
Incoterms and the Supply Chain Rules
Understanding Vendor Managed Inventory (VMI) and Co Managed Inventory (CMI)

Inventory Improvements

Using the Supply Chain
Using the Theory of Constraints
Practical Inventory Improvements
Keys to Reducing Stock Levels
Model for Planning Inventory

Certificates

On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

Providers and Associations

Endorsed Education Provider

GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org

In Association With

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

Visit website

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

Visit website

The Energy Training Centre

Our collaboration with Energy Training Centre aims to provide the best training services and benefits for our valued clients

Visit website

Options & Brochure

Available in Online Format

Enquire about the Course

Run this Course In-House

Send to a Colleague

Print this Page

Download PDF

Inventory & Stock Control Management

Improving Business Productivity through Optimization

Upcoming Dates

Code	Date	Venue	Fees
MM016	22 - 26 May 2023	Dubai - UAE	$5,950
MM016	24 - 28 Jul 2023	Istanbul - Turkey	$5,950
MM016	11 - 15 Sep 2023	Dubai - UAE	$5,950

Introduction

The purpose of this GLOMACS training seminar is to:

Enable delegates to evaluate Inventory visibility levels and segmentation approaches
Examine stocking level criteria through assignment practices
Types of tools used for inventory optimization
Current integration practices between materials management systems and asset management systems
Understanding that minimizing inventory holdings reduces overhead costs and, hence, improves the profitability performance of the enterprise
Understand and implement the "world class" tools for managing inventory in the supply chain

Objectives

This GLOMACS training seminar will help you learn how to:

Improve management of inventories reaching from receiving products to storage and delivering
See that movement to the end-user adds value
Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity.
Look “outside of the box”
Understand the appropriate Inventory methods to be applied
Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process

Training Methodology

This GLOMACS Purchasing & Logistics training seminar on Inventory & Stock Control Management will be presented by a competent Professional who has designed successful inventory control measures.

Organisational Impact

Examine the link of inventory in the company supply chain operations and activities
Analyse the key areas of operation
Identify and understand key performance indicators
Succeed in improving operations
Apply the right cost and service balance
Gain a competitive advantage

Personal Impact

How to analyse stock and inventory?
How to make productivity improvements?
Understand the Role of Inventory in the Supply Chain
Balancing Cost and Service Requirements
A Framework for Continual Improvement
Best in Class Practices

Who Should Attend?

Those New to Managing Inventory
Those Non inventory people who need to gain an awareness of the issues and key drivers of stock control operations
Inventory, Stock, Supply Chain, Logistics, Warehouse and Distribution Professionals

SEMINAR OUTLINE

DAY 1

Inventory and the Supply Chain

Inventory Definitions and Importance
Inventory Flow in the Supply Chain
The Basic Rules of Successful Supply Chain
Supply Chain and Inventory Dynamics
Financial Management and Inventory
Statistics Application in Inventory Control
Truths on Inventory Visibility

DAY 2

Key Components to Understanding Effective Inventory Control

End-User Demand Analysis
Forecasting for Operations and Maintenance
Understanding Supply Lead Time
Cost & Benefits Analysis
Developing Inventory Policies
The Need for Inventory in Organizations

DAY 3

Inventory Mechanics, Methods and Systems

Basic Mechanics of Inventory Systems
Establishing Order Quantity
Implications of Free Stock in Inventory
Simple Replenishment Methods, for example, Min / Max
Replenishment Methods, Reorder Point and Reorder Level (ROP / ROL)
Requirements Planning Systems, Bills of Material and Inventory Planning
Class Assignment Inventory Control Methods

DAY 4

Establishing Stock Control

Establishing Stock Checking
Developing Stock Accuracy
Stock Tolerances and Approvals
Stock Reconciliations / Discrepancies
Identifying Surplus and Obsolescent Stock
Identifying Different Storage Conditions
Understanding Stock Coding
Stock Variety Reductions

DAY 5

Understanding Inventory Strategies

Creating Inventory Policy
Incoterms and the Supply Chain Rules
Understanding Vendor Managed Inventory (VMI) and Co Managed Inventory (CMI)

Inventory Improvements

Using the Supply Chain
Using the Theory of Constraints
Practical Inventory Improvements
Keys to Reducing Stock Levels
Model for Planning Inventory

In Association With

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

The Energy Training Centre

Our collaboration with Energy Training Centre aims to provide the best training services and benefits for our valued clients

© 2023. Material published by GLOMACS shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com

An Interactive 5-Day Training Course

Inventory & Stock Control Management

Improving Business Productivity through Optimization

Introduction

Objectives

Training Methodology

Organisational Impact

Personal Impact

Who Should Attend?

DAY 1

Inventory and the Supply Chain

DAY 2

Key Components to Understanding Effective Inventory Control

DAY 3

Inventory Mechanics, Methods and Systems

DAY 4

Establishing Stock Control

DAY 5

Understanding Inventory Strategies

Inventory Improvements

Endorsed Education Provider

In Association With

Inventory & Stock Control Management

Improving Business Productivity through Optimization

Upcoming Dates

Introduction

Objectives

Training Methodology

Organisational Impact

Personal Impact

Who Should Attend?

SEMINAR OUTLINE

DAY 1

Inventory and the Supply Chain

DAY 2

Key Components to Understanding Effective Inventory Control

DAY 3

Inventory Mechanics, Methods and Systems

DAY 4

Establishing Stock Control

DAY 5

Understanding Inventory Strategies

Inventory Improvements

In Association With