Inventory & Stock Control Management

Course Overview

Stock Control, otherwise known as Inventory Control, is used to show how much stock you have at any one time and how you keep track of it. It applies to every item you use to produce a product or service, from raw materials to finished goods. It covers stock at every stage of the production process, from purchase and delivery to using and re-ordering the stock.

Efficient stock control allows you to have the right amount of stock in the right place at the right time. It ensures that capital is tied up appropriately and protects production if problems arise with the supply chain. You can categorise stock further, according to its value, and choose to concentrate resources on the areas of greatest value.

The participants attending this Inventory & Stock Control Management training course will learn several methods for controlling stock, all designed to provide an efficient system for deciding what, when and how much to order. They will also understand the importance of Inventory management in general as well as several key components, like logistics, stock control and physical distribution, unique for different businesses, to obtain the knowledge and skills to be able to plan, organise, execute, and control the organisation of effective Inventory management.

Course Objectives

As a result of this training course, the participants will achieve the following objectives:

• Understand the inventory management
• Describe the different types and uses of inventory
• Understand relevant costs associated with inventory
• Understand inventory’s role in service organisations
• Forecast demand and lead time

Target Audience

This training course has been created for everybody actively involved in inventory management, supervisors, and middle & top management levels working in professional organisations.

It will be valuable to the professionals, including (but not limited to) the following:

• Inventory Management Managers
• Supply Chain Managers
• Warehouse Managers
• Warehouse Keepers

Training Methodology

This training course is driven by a blended learning approach based on adult learning techniques such as lectures, video presentations, trainer-facilitated workshop exercises, case studies, self-reflection, and debates. The different methods will lead to higher engagement because the delegates will be doing things and thinking about what they are doing. Furthermore, it will build self-confidence, and they will be pulled out of their comfort zones to share their thoughts, opinions, and conclusions about specific topics. Lastly, this blended learning approach will allow instant feedback and improvement and stretch creativity and innovation.