Certificate in Inventory Management Best Practices

This Certificate in Inventory Management Best Practices training course examines the renewed emphasis on running organizations leaner, effectively and efficiently. The renewed pressure to reduce cost as well as investment, while maintaining customer service levels is essential in world-class performance. Inventory Management is still one of the least understood practices in many companies and managers often fail to see the causal link between Inventory Management and good business results.

In addition, the mechanistic review of Min/Max reorder points will lead to disappointing results and in capital intensive companies, the value of spares in inventory often exceeds the value of all other inventory combined. Huge investments, excessive costs and low availability of stock often cause a knee-jerk reaction instead of adopting sound inventory management principles.

This Certificate in Inventory Management Best Practices training course will feature:

• Reduction in inventory investment
• Improved customer satisfaction
• Reduced cost of running the inventory management function
• Understanding inventory categories in management
• Management of Stock Keeping Units in terms of their priorities

By the end of This Certificate in Inventory Management Best Practices training course, participants will be able to:

• Understand the importance of inventory & the role it plays in the profitability of the company
• Examine the most appropriate method for managing an item
• Understand the value chain in inventory management
• Apply best methods to optimise the investment in inventory
• Examine the appropriate inventory management technique for each type of item

This Certificate in Inventory Management Best Practices training course is suitable to a wide range of professionals but will greatly benefit:

• Those involved in inventory, albeit as supplier, buyer, materials planner, warehousing, finance or even end-customer
• Professionals and staff in the organization who are responsible for reducing costs, increasing productivity, raising inventory turns and enhancing customer service through high fill rates, accurate information and excellent order fulfillment

This Certificate in Inventory Management Best Practices training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The course is highly class-work based and will prompt delegates to reflect on current practices and on their current practices. The Tutor will guide and facilitate learning using a wide variety of methods including direct input, discussions, case studies and group work.