Inventory management (SMB05)

Achieve the right balance between inventory and demand  

Is it right for me?  

Managing inventory is a critical activity in any business. It supports the delivery of goods to the  customer and defines the level of customer service. This course will provide you with the  knowledge and techniques to better manage your inventory and how this can impact positively  both on customer satisfaction and on your bottom line. It will also allow a greater understanding  of the costs associated with storage and how to reduce these through improved management.  

What will I learn?  

By the end of this course you will be able to:  

∙ Understand the basics of stock management and how it impacts on the business and customer service 

∙ Be able to understand and implement different types of replenishment system ∙ Understand the costs associated with stock holding 

∙ Be able to analyse warehouse stock and suggest ways of reducing stock and minimising inventory 

∙ Better understand the material requirements planning process 

What key points will the training cover?  

∙ Replenishment methods, systems and variations 

− Re-order point 

− Periodic Review 

− Impact of uneven demand 

− Managing demand 

− Material requirements planning 

− Kanban systems 

− Consignment stocks ∙ Management of inventory ∙ The review cycle