Course Schedule

Get your PDF guide and explore all course details.

Course Modules

This training course is split into the following modules:

This comprehensive training course consists of two modules which can be booked as a 10-Day Training event, or as individual, 5-Day training courses.

Why Choose The Complete Course on Purchasing & Inventory Management Training Course?

This Complete Course on Purchasing & Inventory Management training course covers the skills required to lead procurement and inventory teams to world class performance by running organizations leaner, effectively and efficiently. The pressure to reduce costs, while maintaining customer service levels is essential in both procurement and inventory management. It focuses on the ‘gaps’ in performance to be filled in order to provide the continuous improvements needed to meet strategic objectives.

Procurement and inventory are two of the least understood areas of business in many organisations, but are essential for good business results. Adopting sound procurement and inventory management principles will lead to better return on investment, improved quality, lower costs, and reduced working capital.

This Complete Course on Purchasing & Inventory Management training course will feature:

  • Selection and application of management strategies
  • Managing suppliers to obtain best in class results
  • Reduction in inventory investment
  • Improved customer satisfaction
  • Management of Stock Keeping Units in terms of their priorities

What are the Goals?

By the end of This The Complete Course on Purchasing & Inventory Management training course, participants will be able to:

  • Develop strategic purchasing plans & discuss how to improve internal customer service
  • Explore many ways of reporting key performance indicators (KPIs)
  • Understand the most important competencies for purchasing personnel
  • Understand the importance of inventory & the role it plays in the profitability of the company
  • Apply best methods to optimise the investment in inventory

Who is this Training Course for?

This The Complete Course on Purchasing & Inventory Management training course is for Professionals and Staff in organization that are responsible for improving quality, reducing costs, increasing productivity, raising inventory turns and enhancing customer service through better purchasing and inventory management.

This The Complete Course on Purchasing & Inventory Management training course is suitable to a wide range of professionals, but will greatly benefit:

  • Purchasing, Procurement, Contracts, Contract Administration, Projects personnel
  • Engineering, Facilities, Finance and Maintenance Personnel
  • Personnel involved in the planning and management of tender process
  • Those involved in inventory management as a supplier, buyer, materials planner, warehousing, finance or even end-customer
  • Those in general management wanting an understanding of the procurement and inventory processes

How will this Training Course be Presented?

This The Complete Course on Purchasing & Inventory Management 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 class-work based and will prompt delegates to reflect on current practices and on their current practices. The instructor will guide and facilitate learning using a wide range of methods including direct input, discussions, case studies and exercises in groups and pairs.

The Course Content

Day 1

The 1st Steps to Becoming World Class

  • Stages to World Class Purchasing
  • How Purchasing is viewed today
  • Strategic Sourcing
  • Developing Spend Profiles and the ABC Analysis
  • New Job Descriptions for Purchasing of the future
  • Purchasing Personnel Required Skill Sets
Day 2

Evaluating Your Own Operation

  • What are Best Practices
  • Purchasing Gap Analysis
  • Vision and Mission for Purchasing
  • Developing the Purchasing Department Strategic Plan
  • Developing Key Performance Indicators (KPIs) for Procurement
  • Developing a Company Purchase Price Index
Day 3

Continuous Improvement and How to Get It

  • Cost Reduction Initiatives
  • Methods of Cost Containment
  • Waste in the Supply Chain
  • Breaking Down the Elements of Supplier Cost
  • Commodity/Service Strategic Planning
  • Resisting Price Increases
Day 4

Supplier Management Approaches

  • Supplier Classification System
  • Supplier Qualification Methods
  • Supplier Performance Metrics
  • Apply Performance criteria to Purchasing Decisions
  • Process Mapping To Eliminate Low Value Activities
  • Applying eProcurement business process
Day 5

Improving the Image of Procurement

  • Global Sourcing
  • International Labor Rates Comparison
  • Developing and Maintaining a Customer Focus
  • Basic Issues in Corruption And Fraud Prevention
  • Increasing the Level of Procurement Professionalism
  • Keeping Current in the profession
Day 6

Inventory in the Value Chain

  • The purpose of inventory in the value chain
  • Classification of inventory
  • Procedure for eliminating obsolete inventory
  • Pareto Law in identifying product Classification
  • Location of inventory
  • Using Economic Order Quantity on managing inventory order levels
Day 7

Demand Planning

  • Basic forecasting methods
  • Customer segmentation
  • Hierarchy of planning
  • Aggregate planning
  • Maintenance & Inventory planning meeting
  • Master Scheduling
Day 8

Forecasting

  • Principles of forecasting
  • Effect of lead time on the forecasting process
  • Quantitative forecasting
  • Qualitative forecasting
  • Tracking forecast accuracy
  • ·Determining safety stock
Day 9

Inventory Recording

  • Period stock take
  • Cycle counting
  • Perpetual recording
  • Utilizing Bar-cades to manage inventory and movements
  • The use of Radio Frequency Identification (RFID) for recording inventory movement
  • Inventory accounting
Day 10

Performance Measurement

  • Stock turnover rate
  • Customer service
  • Cost of operations
  • Measuring the effectiveness of your system
  • How to use the measurements
  • Class exercise on selective inventory management

Certificate

  • AZTech Certificate of Completion for delegates who attend and complete the training course

In Partnership With

Do you want to learn more about this course?

Register now or contact our team to discuss schedules, delivery formats, and customised options.

Related Courses

Check out other training courses might interest you

Frequently Asked Questions

Common questions about our training courses

Absolutely. AZTech offers customised in-house training where this course can be tailored to your organisation's specific needs, objectives, and industry context. Please contact us directly to discuss your requirements.

For further information or to discuss customization needs, you can contact us at +971 56 333 3426 or via email at inhouse@aztechtraining.com . Additionally, you may submit a detailed inquiry through our in-house training page at: https://aztechtraining.com/in-house-training

Yes. This The Complete Course on Purchasing & Inventory Management is offered in a classroom setting across multiple international locations as well as in a live online format, giving participants the flexibility to choose the option that best suits their schedule and learning preference.

AZTech courses are conducted in carefully selected 5-star hotels or 4-star premium hotels in the host city, featuring fully equipped, professional training rooms. Participants will enjoy coffee breaks and snacks throughout the day, as well as a complimentary lunch provided after each training session.

This The Complete Course on Purchasing & Inventory Management training course is designed for professionals at all levels who wish to enhance their knowledge and skills in this subject area. It is suitable for managers, team leaders, specialists, and anyone looking to advance their career and professional development.

 AZTech provides round-the-clock support to assist you with any enquiries. You can reach our team 24/7 by phone at +971 50 195 5668, by email at info@aztechtraining.com. Our dedicated training consultants are always on hand to help you with course selection, registration, scheduling, and any other questions you may have.

There are no formal prerequisites for this The Complete Course on Purchasing & Inventory Management course. It is open to all professionals regardless of their background or experience level, though a basic understanding of the subject area may be beneficial.

AZTech courses are delivered using a highly interactive and practical methodology, combining presentations, group discussions, real-world case studies, exercises, and workshops to ensure participants can immediately apply what they have learned in their professional environment.

Yes. Participants who successfully complete the course will receive an AZTech Certificate of Completion. This course may also be eligible for Training credits, which will be indicated in the course details.

Related Categories

Recent Articles