Class Lectures, practical exercises, group discussion, performance feedback
Number of sessions: 1
Length of Sessions: 4 hours
Total hours: 4
The course is designed for employees from all organizations that have inventory to manage, profit or non-profit, public or private, service or manufacturing. The skills learned apply to middle managers, administrative personnel, and employees of manufacturing and service organizations.
Summary of Content:
Basics of planning and controlling inventory.
- Importance of good inventory management
- The nature and function of inventory
- Objectives of inventory management
- Costs relating to inventory
- Measurements of the performance of inventory
- Alternate methods of ordering inventory – Order Point, Min/Max, Two Bin
- Attaining Inventory Accuracy
Objectives and Benefits:
At the end of this section the student should be able to:
- Understand the role and importance if inventory
- Discuss the objectives of inventory management
- Calculate various costs associated with inventory
- Understand the concept of inventory turns
- Discuss basic lot sizing techniques
- Explain the concept of order point
- Explain inventory stratification and how its used in inventory management
If you’d like to learn more, please contact us.