Effective Inventory Planning and Stock Control
₦250,000.00
Course Outline
Introduction to inventory management
o Objectives of inventory planning and stock control
o Reasons to hold inventory
o Inventory information system considerations
o Inventory push vs. pull systems
o Identifying inventory costs
o Customer service in inventory management
Description and classification of inventory
o Types of inventory
o The inventory ABC classification ranking model
o Uses of the ABC ranking
o Materials specifications and cataloguing
Inventory planning and stock control is a critical process within Supply Chain Management
(SCM) which ensures continuity of supply of the inventory at the lowest cost. Effective
inventory planning will help the SCM team improve the accuracy of forecasts, ensure enough
inventory levels at all times, and enhance profitability by optimizing the expenses. The
control side of this process is to ensure that plans are being met and to take the necessary
actions when needed.
Demand planners are the ‘behind the scenes’ professionals who are entrusted with this
critical responsibility. When they do their job right, no one recognizes them. However, they
will be noticed quickly when they fail to deliver, given the negative impact this will have on
customer service and the bottom line.
In this course, many inventory planning theories, models and best practices will be discussed
which will assist the participants deal with various future scenarios to ensure continuous
flow of the inventory at the least possible cost.
Additional information
| dates | 31/2/2025, 20/3/2025, 10/1/2025 |
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