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Managing Inventory
Poorly adjusted inventory ties up resources or weakens service. Connect needs, stock levels and replenishment rules to organise your decisions more effectively. Strengthen your ability to monitor discrepancies and work with procurement, production and logistics.
- Duration
- 3 days 21 hours
- Code
- SUPC008FR Code
Presentation
Inventory management within a company is the process of planning, organising and controlling all stored goods or products. Its primary aim is to balance supply and demand while minimising inventory-handling costs.
This 3-day course helps you understand and apply all the methods and tools needed to manage inventory effectively. It is designed for professionals working in areas related to logistics and operational management.
Objectives
Target competency:
- Organise inventory management within a company.
Learning objectives:
- Explain the challenges of effective inventory management.
- Apply methods and tools for effective inventory management.
- Optimise these inventory management practices daily.
Program
Understanding the key aspects of inventory management
- The definition, role and impact of inventory on the company.
- Different inventory management approaches: reorder-point and periodic systems.
- Inventory in terms of quantity and value.
- Identifying and managing excess stock and shortages.
Understanding inventory management costs and parameters
- Calculating average stock coverage and inventory turnover.
- The difference between service level and stockout rate.
- Implementing a simple approach to calculating inventory management costs.
- The difference between optimal volume and economic order quantity.
Applying inventory management methods
- Reorder-point and periodic management methods.
- Other inventory management methods.
- Choosing the appropriate method for each type of stock.
- Developing a supply plan.
Providing safety stock according to service levels
- Allowing for uncertainty.
- Calculating safety stock.
- Practical simulations of inventory value.
- Managing the effect of uncertainty on safety stock.
Implementing an inventory management dashboard
- Choosing relevant indicators, including service level and turnover rate.
- Formatting the dashboard.
- Discussing practical cases with other participants.
Audience
This course is intended for:
- Anyone working in supply and scheduling.
Prerequisites
The following prerequisite applies to this inventory management course:
- Basic knowledge of inventory organisation.
Teaching and assessment methods
- Initial skills assessment
- Training materials provided to participants
- Continuous assessment throughout the course
- End-of-course feedback questionnaire
- Combination of theory and practical application
- Attendance records
- Post-course follow-up evaluation
- Case study
Course highlights
Comprehensive theoretical lessons supported by case studies and experience sharing.
Dates and sessions
Choose the date and delivery format that suit you.
No upcoming sessions are currently available.