ADVANCED STRATEGIC WAREHOUSING & STORE MANAGEMENT

INTRODUCTION

This course will enable Inventory/ Warehouse Management Professionals to understand how to improve the operations of any warehouse by implementing lean operating processes, by intelligently managing inventory, and by establishing a performance management program that ensures continuous improvement. An effective warehousing strategy can be a powerful competitive weapon.
Best-practice warehouses deliver superior customer satisfaction and return on investment by functioning as a tightly integrated part of a company’s value chain. The purpose of this course is to show how to implement all of the essential tools for the effective management of warehouses and stores. This module includes how to evaluate procedures and how to improve methods by eliminating wasteful activities and excess costs.
This course aims to help the supply chain professional to understand and apply four (4) major and significant aspects of inventory management: –
• Optimize Inventory Levels
• Build an Inventory Management Plan
• Design & Manage Warehouse Operations
• Increase Accuracy

Target Competencies 

• Locating, structuring, and operating the warehouse
• Implementing Lean principles in the warehouse
• Crafting an inventory strategy using Stock Keeping Unit (SKU) segmentation
• Role of the warehouse in the value chain
• Creating a metrics program and establishing an executive KPI dashboard

Course Objectives 

By the end of this course, participants will be able to:
• Develop an understanding of the role of warehouse in the end-to-end supply chain
• Learn best practices for warehouse operating processes
• Develop an inventory strategy in the warehouse
• Leverage information technology to improve visibility
• Develop a performance management program to and drive positive change

Target Audience

This course will benefit a number of participants from different parts of the organization including those who have an intermediate knowledge of the supply chain.
This course is suitable to a wide range of professionals but will greatly benefit:
• Warehouse and distribution professionals
• Procurement, buyers and purchasing professionals
• Production and manufacturing professionals
• Logistics professionals
• Supply chain generalists

Course Methodologies

 This course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes discussion and practical lectures leveraging years of hands-on supply chain and warehousing experience across industries. The trainer will use real-world challenges and solutions, exercises and case studies and an extensive course manual.

Duration: 3 days

Class Session : 10:00am – 4:00pm each day including Breakfast and Lunch time

Customize Your Training

This training solution and other training topics from McTimothy Associates are currently available as residential/in-house option.

Please Note

McTimothy Associates Reserves the right to postpone or cancel a course due to unforeseen circumstances beyond our control. In such cases delegate(s) will be registered for the next run of the course.

Day 1
Why keep Inventory?
– How much Inventory to keep so we don’t run out of business?
– The Financial Implications of Holding Inventory
– Inventory Carrying Cost and how it affects business
– Effect on Financial
– The Cost of not holding enough Inventories
– The Role of the Accounting Inventory Manager
– Inventory Management & the Supply Chain Strategy
– Demand Forecasting
– Lead time Management
– Inventory Stakeholders Planning

Inventory Classifications Techniques 
– ABC Analysis – Fast & Slow Moving, Excess, Obsolete & Defective Stocks
– Traceability and Variety Reduction
– The Inventory Management Plan

Day 2
Strategic Inventory Operations
Monitoring Movements – Inventory Accuracy
Measuring and Valuation of Inventory
Receipt & Issuance of Inventory
Systems to Replenish Inventory
How Much to Order – EOQ
Warehouse Planning & Systems
Warehouse Infrastructure Strategies 
Warehouse location strategy
• Options in warehouse layout and design
• Classes of warehouses
• Warehouse automation
• Information technology (IT) in the warehouse
• Industry variations
Warehouse Operating Processes and Principles
• Key functional processes from receiving to picking and shipping
• Optimizing the flow of goods across processes
• Advanced processes – break-bulk, cross-docking, mixing, assembly
• Cycle counting, conducting a physical inventory audit
• Implementing Lean principles in the warehouse
• Continuous improvement and managing change

Day 3
Inventory, Analysis, and Product Classification 
• The function of inventory
• Inventory accuracy and control
• Handling WIP (Work-In-Progress) inventory
• Three-dimensional inventory classification and segmentation (ABC)
• Using inventory classification to drive efficiency
• Replenishment methods and strategies

Leveraging Your Resources and Developing New Capabilities
• Managing and incentivizing your people
• Employee training and evaluation
• The IT environment: your enterprise and the warehouse
• Role of the warehouse in the value chain
• Outsourcing: risks and opportunities
• Supplier collaboration models and strategies

Create a World-Class Warehouse with Performance Management and Metrics 
• Contemporary trends in warehousing
• Warehouse best practices and benchmarking
• The role of performance management in the warehouse
• What should you measure?
• Establish an executive dashboard using key performance indicators (KPIs)
• Identifying, prioritizing, and implementing improvements.

Other Dates

07Oct