/  Warehouse Management And Inventory Control Training

Warehouse Management And Inventory Control Training

BMC Training provides a training course in Warehouse Management And Inventory Control in Warehouse , Logistics , Supply Chain and Inventory

Course Title
Venue
Start Date
End Date
  • London
    20 - 12 - 2020
    31 - 12 - 2020
  • London
    27 - 12 - 2020
    7 - 1 - 2021
  • London
    6 - 12 - 2020
    17 - 12 - 2020
  • London
    3 - 1 - 2021
    14 - 1 - 2021
  • London
    28 - 2 - 2021
    11 - 3 - 2021
  • London
    21 - 2 - 2021
    4 - 3 - 2021
  • London
    14 - 2 - 2021
    25 - 2 - 2021
  • London
    28 - 3 - 2021
    8 - 4 - 2021
  • London
    25 - 4 - 2021
    6 - 5 - 2021
  • London
    4 - 4 - 2021
    15 - 4 - 2021
  • London
    11 - 4 - 2021
    22 - 4 - 2021
  • London
    30 - 5 - 2021
    10 - 6 - 2021
  • London
    13 - 6 - 2021
    24 - 6 - 2021
  • London
    20 - 6 - 2021
    1 - 7 - 2021
  • London
    27 - 6 - 2021
    8 - 7 - 2021
  • London
    25 - 7 - 2021
    5 - 8 - 2021
  • London
    1 - 8 - 2021
    12 - 8 - 2021
  • London
    8 - 8 - 2021
    19 - 8 - 2021
  • London
    22 - 8 - 2021
    2 - 9 - 2021
  • London
    19 - 9 - 2021
    30 - 9 - 2021
  • London
    24 - 10 - 2021
    4 - 11 - 2021
  • London
    31 - 10 - 2021
    11 - 11 - 2021
  • London
    3 - 10 - 2021
    14 - 10 - 2021
  • London
    14 - 11 - 2021
    25 - 11 - 2021

 Introduction

Warehouse is an essential limb of an industrial unit. It is the depository of all materials required by the industrial unit and supplies materials as and when required. Different types of materials are required for different operations in a production unit.

On completion of this course you should be able to: 

  • The different types of inventories and importance of inventory to organizations.
  • The principles and purpose on inventory management and control.
  • The costs associated with inventory management.
  • Inventory verification and valuation methods.
  • Different approaches for effective management of dependent demand and independent demand inventories and when to apply them.
  • The fundamentals of warehousing and stock handling.
  • Organizational structure and functional responsibilities in inventory and warehousing.
  • How to measure and improve inventory management performance.

Course Outline

Module 1: Warehouse Management

Warehouse Organization

  • Introduction to warehouse organization
  • Position of Warehouse/stores in the organization
  • Organization structure of stores division
  • Organization matters for efficient working of stores division
  • Delegation of authority

Requisitions and Replenishment of Materials

  • Need for requisitioning the material
  • Replenishment of stock items
  • Preparation of materials requisition report
  • Dispatch of requisition to user department
  •  Review order quantity

Performance Evaluation of Stores Activities

  • Criticism of stores division
  • Poor inventory control
  • Improper store-keeping and Tools Management
  • Performance indicators and evaluation
  • How is performance evaluation carried out

ISO Standards and Warehouse Activities

  • Introduction to ISO standards
  • The importance of ISO standards
  • Registration for ISO certification
  • Warehouse activities and quality assurance
  • Stores division activities in conformance to ISO 9001

Warehouse Location, Layout, and Facilities Planning

  • Number and size of stores
  • Location of stores
  • Layout planning of warehouse
  • Physical facilities planning

Warehouse Security, Safety, and Maintenance

  • Security
  • Entry to warehouse
  • Management of warehouse keys
  • Closing of warehouse
  • Issue to authorized individuals

Module2: Inventory Control

Inventory Classification and Strategies

  • Advantages of classification of inventory
  • Regular inventory item
  • In-process inventories
  • Finished goods inventory
  • Strategic considerations in the control of finished goods inventory
  • Market research

Codification and Standardization

  • Methods of Codification
  • Variety reduction
  • Advantages of standardization
  • Situations where standardization is not preferred
  • Types of standards
  • Standardization program

Inventory Control Model

  • Theoretical inventory control model
  • Elements of inventory control model
  • Dynamic nature of the inventory control model
  • Maintenance requirements
  • Reorder point fluctuations

Inventory Control Techniques

  • Best order quantity
    • Economic Order Quantity (EOQ) defined
    • Determining Economic Order Quantity (EOQ)
  • Variable costs
  • ABC analysis
  • Other techniques of analysis

Effective Management of Spare Parts

  • Factors influencing the stocking of spare parts
  • Appropriate maintenance techniques
  • Administrative and financial factors
  • Steps for management of spare parts
  • Diagnostic survey
  • Reconditioning and overhauling of parts

Valuation of Inventory

  • Importance of valuation of inventory
  • Valuation of material issues
    • First in First Out (FIFO)
    • Last in First Outs
    • Highest in First Out (HIFO)
    • Next in First Out (NIFO)
    • Simple average method
    • Weighted average cost method
  • Factors considered in selection of method of valuation of inventory

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