Inventory Management: The Nuts and Bolts (vs)

  • Training Time: 1 Day, 9:00 am to 5:00 pm
  • Inclusion: Participants Manual and Certificate of Completion

No business can survive very long without an effective program of controls over the parts and materials that are used in producing or distributing goods and services of the firm. Like many other things that depend on human interpretation, “control” means different things to different individuals. This is an introductory workshop for you, the warehouse or stockroom manager, the person in charge of what comes in and goes out of your company. You want a smooth and cost-effective operation, with enough products on hand to satisfy needs without stockpiling too much.

This course will discuss all aspects of inventory management, including common terms, the inventory cycle, how to maintain inventory accuracy, and what some of the latest trends are.

Learning Points
  • Understand terms that are frequently used in warehouse management
  • Identify the goals and objectives of inventory management and measure your process against these goals
  • Calculate safety stock, reorder points, and order quantities
  • Evaluate inventory management systems
  • Identify the parts of the inventory cycle
  • Better maintain inventory accuracy
Course Outline

Inventory Management: The Nuts & Bolts
Module 1: Getting Started

  • Course Overview

Inventory Management: The Nuts & Bolts
Module 2:  What is Inventory?

  • Definitions
  • Pre-Assignment Review

Inventory Management: The Nuts & Bolts
Module 3:  Types of Inventory

  • Types of Inventory

Inventory Management: The Nuts & Bolts
Module 4:  Key Players

  • Key Players

Inventory Management: The Nuts & Bolts
Module 5:  Setting Up the Warehouse

  • The Eight Objectives
  • Maintaining Local Accuracy

Inventory Management: The Nuts & Bolts
Module 6:  What Makes a Good Inventory Management System

  • A Good Inventory Management System

Inventory Management: The Nuts & Bolts
Module 7:  The Warehouse Inventory Cycle

  • The Warehouse Inventory Cycle

Inventory Management: The Nuts & Bolts
Module 8:  Identifying Demand

  • Key Formulas
  • Case Study

Inventory Management: The Nuts & Bolts
Module 9:  The Receiving Process

  • The Receiving Process

Inventory Management: The Nuts & Bolts
Module 10:  Validating Inventory

  • Validating Inventory

Inventory Management: The Nuts & Bolts
Module 11:  The Put-Away Process

  • The Put-Away Process

Inventory Management: The Nuts & Bolts
Module 12:  Maintaining Inventory Accuracy

  • Maintaining Inventory Accuracy

Inventory Management: The Nuts & Bolts
Module 13:  The Outbound Process

  • The Outbound Process

Inventory Management: The Nuts & Bolts
Module 14:  Industry Trends

  • Industry Trends
  • Personal Action Plans
You Can Expect...
  • To learn  the types of inventory
  • To learn what makes for a good inventory management system
You Need This If...
  • You want to learn the receiving process and validating inventory
  • You want to learn the put-away process and maintaining accuracy
  • You want to learn the outbound process and industry trends
This Is About...
  • Setting up a warehouse
  • Knowing the warehouse inventory cycle
  • Identifying demand