- TypeTraining or Development Class
- Location Nairobi, Kenya
- Date 01-07-2019 - 12-07-2019
Administration/Management
Manufacturing
Consumer Products
TRAINING ON INVENTORY CONTROL AND WAREHOUSE MANAGEMENT
Start Date: 01/07/2019 End Date: 12/07/2019 for 10 days
Register online: https://bit.ly/2HRfOSQ
Organizer: DATA-AFRIQUE CONSULTANCY (www.data-afriqueconsultancy.org)
Course fee: KSH 140,000, USD 2,000
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.
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.
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 CONTENT
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 Inventory
Factors influencing the stocking of inventory
Appropriate maintenance techniques
Administrative and financial factors
Steps for management of inventory
Diagnostic survey
Reconditioning and overhauling of inventory
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
GENERAL NOTES
This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
Training manuals and additional reference materials are provided to the participants.
Upon successful completion of this course, participants will be issued with a certificate.
We can also do this as tailor-made course to meet organization-wide needs. Contact us to find out more: [email protected]
The training will be conducted at DATA-AFRIQUE TRAINING CENTRE, NAIROBI KENYA.
The training fee covers tuition fees, training materials, lunch and training venue. Accommodation and airport transfer are arranged for our participants upon request.
Payment should be sent to our bank account before start of training and proof of payment sent to: [email protected]