Introduction
This course focuses on the principles required to manage stock effectively and maintain service levels while minimizing costs. Participants will explore inventory types, forecasting basics, and replenishment strategies. They will understand how poor inventory practices affect the entire supply chain. The course blends theory with practical tools used in day-to-day operations.
Course Objectives
- Understand inventory types
- Apply replenishment methods
- Interpret inventory KPIs
- Identify cost drivers
- Reduce inventory risks
Target Audience
- Inventory controllers
- Warehouse officers
- Supply chain planners
- Retail stock managers
- Logistics coordinators
Course Outline
- 5 Sections
- 0 Lessons
- 5 Days
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- Day 1: Inventory Foundations• Inventory categories
• Roles of inventory
• Costs: holding, ordering, stockout
• Demand types
• ABC analysis0 - Day 2: Forecasting Basics• Qualitative forecasting methods
• Time-series patterns
• Forecast error measurement
• Data requirements
• Common forecasting issues0 - Day 3: Replenishment Models• EOQ model
• Reorder point systems
• Safety stock calculations
• Lead time variability
• Periodic review vs continuous review0 - Day 4: Inventory Control Techniques• Cycle counting
• Accuracy audits
• Inventory reduction strategies
• Supplier-managed inventory basics
• Slow-moving stock handling0 - Day 5: Performance Measurement• Inventory turnover
• Days of inventory on hand
• Fill rate analysis
• Stockout root cause analysis
• Inventory improvement workshop0
Instructor
Lessons:
