Inventory Management Master Class

Monday 16 Aug 2021

  • Duration: One Week
  • City: Madrid
  • Fees: Classroom: 4250 GBP / Online: 1900 GBP



This course intended to provide understanding how inventory management techniques can be used in a wide variety of situations, particularly in stores where the inventory can be anything from fast moving products to slow moving spares.


• Understand and discuss distribution warehousing and manufacturers’ operations.
• Explore the inventory control aspects included in the courses for the DPIM, COM, DLM, CPIM and other professional and academic qualifications.
• Build up comprehending of stock control by seeing the techniques explained logically.
• Understand how inventory structuring, individual item control, forecasting and co-ordination provide the base for logistics management.
• Understand the vital role of inventory & the role it plays in the profitability of the company.
• Examine the most appropriate method for managing an item.
• Comprehend 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.

Course Outline

Day 1

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.

Demand Planning

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

Day 2


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

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 3

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.

Setting the right stock levels

• Simple assessment of review levels.
• Managing lead times.
• Target stock levels.
• The changing role of purchasing.

Modern supply practice

• Supply partnerships.
• The ordering processes.
• Order quantities.
• Purchasing processes.
• Forecasting demand.

Day 4

Options for assessing demand

• Causes of forecasting techniques.
• Methods of improving forecasts.
• Historical forecasting techniques.

Basic forecasting techniques

• Weighted averages.
• Choosing the best forecast.
• Monitoring forecasts.
• Advanced forecasting methods.

Day 5

More forecasting tools

• Forecasting for seasonal sales.
• Other methods.
• Material requirements planning – an alternative to forecasting.

Avoiding uncertainty

• Material requirements planning.
• Master planning.
• Batch sizes.
• The future – inventory and logistics.

The basis of the lean supply chain

• Logistics.
• Review.

Download Best WordPress Themes Free Download
Download WordPress Themes Free
Download WordPress Themes
Download WordPress Themes Free
udemy paid course free download
download lava firmware
Download Best WordPress Themes Free Download
free download udemy paid course