Course Overview:
This intensive 5-day training course offered by IRES provides a comprehensive understanding of inventory and stock control management, which is critical for efficient operations and financial stability. Participants will gain hands-on experience in managing inventory effectively, minimizing risks, and optimizing stock control to enhance organizational profitability. The course covers fundamental principles, key strategies, inventory management techniques, and real-life case studies to equip learners with essential skills in inventory control.
Course Duration:
5 Days
Target Audience:
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New Inventory Managers
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Professionals from non-inventory backgrounds who need awareness of stock control operations
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Inventory, Stock, Supply Chain, Logistics, Warehouse, and Distribution Professionals
Organizational Impact:
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Enhanced inventory management leading to cost reduction
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Improved efficiency in supply chain and stock control operations
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Better risk management in inventory storage and handling
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Increased accuracy in demand forecasting and stock replenishment
Personal Impact:
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Improved skills in inventory and stock control management
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Greater ability to minimize waste and optimize storage
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Enhanced forecasting techniques for better stock planning
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Increased confidence in managing inventory effectively
Course Level:
Course Objectives:
By the end of this training seminar, participants will be able to:
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Improve inventory management from receiving to storage and delivery
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Recognize the value-added movement of inventory to the end-user
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Apply professional inventory and supply chain management strategies to reduce costs and improve efficiency
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Understand and implement appropriate inventory control methods
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Develop accurate demand forecasts to optimize inventory levels
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Identify and implement inventory improvement strategies
Course Outline:
Module 1: Inventory and the Supply Chain
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Definition and role of inventory in the supply chain
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Types of inventory and their significance
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The impact of inventory on financial performance
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Case Study: Analyzing inventory management in a real-world supply chain scenario
Module 2: Key Components to Understanding Effective Inventory Control
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The principles of stock control and inventory management
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Inventory turnover and stock replenishment strategies
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Techniques for measuring inventory performance
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Case Study: Evaluating an inventory control system and identifying areas for improvement
Module 3: Inventory Mechanics, Methods, and Systems
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Understanding inventory valuation methods (FIFO, LIFO, Weighted Average)
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Inventory tracking systems and technologies
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The role of automation in inventory management
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Case Study: Implementing a digital inventory tracking system
Module 4: Establishing Stock Control
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Stock classification and organization
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Managing slow-moving and obsolete inventory
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Risk assessment in stock control
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Case Study: Developing a stock control plan for a company
Module 5: Understanding Inventory Strategies & Improvements
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Best practices for inventory optimization
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Demand forecasting and its role in inventory control
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Continuous improvement strategies for inventory management
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Case Study: Identifying areas of improvement in an existing inventory system
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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