- Call : 0815 6428 671 | 07034854045
- Email : info@mctimothyassociates.com
Why Attend
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 and Manage Warehouse Operations
• Increase Accuracy
Event Date: 17/04/2024 – 19/04/2024
More Dates
13/06/2024 – 15/06/2024 |
Price: $ 217.87 |
|
17/07/2024 – 19/07/2024 |
Price: $ 217.87 |
|
07/11/2024 – 09/11/2024 |
Price: $ 217.87 |
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 Methodology
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.
Course Outlines Measuring and Valuation of Inventory Warehouse Infrastructure Strategies Warehouse Operating Processes and Principles Inventory, Analysis, and Product Classification Leveraging Your Resources and Developing New Capabilities Create a World-Class Warehouse with Performance Management and Metrics
The fundamentals of inventory management
– 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 and the Supply Chain Strategy
– Demand Forecasting
– Lead time Management
– Inventory Stakeholders Planning
– Inventory Classifications Techniques
– ABC Analysis – Fast and Slow Moving, Excess, Obsolete and Defective Stocks
– Traceability and Variety Reduction
– The Inventory Management Plan
– Strategic Inventory Operations
– Monitoring Movements – Inventory Accuracy
Receipt and Issuance of Inventory
Systems to Replenish Inventory
How Much to Order – EOQ
Warehouse Planning and Systems
• Warehouse location strategy
• Options in warehouse layout and design
• Classes of warehouses
• Warehouse automation
• Information technology (IT) in the warehouse
• Industry variations
• 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
• 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
• 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
• 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
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