Team-based digital learning
Your team will learn:
- Inventory control introduction
- Finished goods inventory
- Inventory control
- Components inventory
- Inventory classification
- Physical inventory control
Inventory Control Training & Certification
Master the strategies for maintaining the optimum inventory, knowing what SKUs to order and when and knowing essential quantities to minimize interruption and reduce costs. Develop methods to keep only essential inventory on hand, maximize cash and ensuring internal and external customers receive the right level of service.
Inventory control is optimizing the amount of stock to fulfil customer or manufacturing orders, on time. The objective is to keep only the necessary units on hand so as not to tie up excess money whilst ensuring internal and external customers receive the right level of service.
Learn the essential strategies for defining an inventory policy, maintaining the optimum amount of inventory, understand how to determine what to order, when to order it, and how much to provide uninterrupted service at minimum cost. You’ll learn the different types of inventory, how to classify inventory and establish priorities, how to ensure the accuracy of inventory records, and how to balance customer service levels with inventory costs.
Finished goods inventory control
Explore how the order and periodic review methods work, determine the right amount of safety stock and learn concrete actions for being able to reduce it. Learn how to measure your inventory control with calculating inventory turns and establishing targets. Learn how to apply the economic order quantity (EOQ) to improve inventory control.
Explore MRP and Just In Time (JIT) methods and how they are used to control component inventory. Discover how MRP works and about each of the inputs into MRP from master production schedule (MPS), bill of materials (BOM), inventory records, and lead times as well as how Just In Time (JIT) uses actual production to determine component ordering. We also explore the fundamentals of a Kanban system.
Discover the various methods for classifying inventory, ABC analysis and how to use the inventory risk matrix to determine inventory control strategy. You’ll learn when to build up seasonal stock and when to hold strategic stock as part of your inventory control strategies.
Learn how errors in inventory records typically occur and how to identify, prevent, and mitigate them with a physical inventory audit. Understand the importance of accurate inventory records and how to implement a cycle counting program, including determining priorities.
Suitable for the following roles:
- Demand Planner
- Supply Planner
- Inventory Planner
- Logistics Planner
- Materials Planner
- Procurement Officer
- Logistics Analyst
- Supply Chain Analyst
- Performance Analyst
- Warehouse Operator
- Production Line Operator
- Transportation Operator
- Warehouse Clerk
- Supply Chain Coordinator
- Logistics Coordinator
- Logistics and Distribution
- Production Supervisor/Manager
- Master Scheduling Manager
- Materials Manager
- Supply Chain Manager
- Director / VP / SVP Supply Chain
This learning content includes:
- Exams &