12 - 16 Apr 2020, Dubai30 Aug - 03 Sep 2020, Dubai13 - 17 Dec 2020, Dubai

INVENTORY & STOCK CONTROL MANAGEMENT

INTRODUCTION

Inventory and Stock Control Management is critical in operations

as inventory is a current asset to a firm. Carrying inventory comes

with a certain degree of risk. This risk is a component of the

cost of carrying inventory. When a company stocks items in the

warehouse, there is always the risk that the items may fall in real

value during the period they are stored. If a company stored parts

for their work centers or equipment, the parts in the warehouse

could be worth far less than the price that was originally paid and

any losses, excess, obsolete and miss-managed inventory means

a reduction in the company equity.

This GLOMACS Purchasing & Logistics training seminar on

Inventory and Stock Control Management focuses on the

techniques when companies are looking to reduce costs as at

times they ignore the inventory sitting in their warehouses and

the cost of carrying that inventory. It is important for businesses

to carefully examine all the costs of carrying inventory and

determine where they can make changes to reduce that cost

and help with the company’s bottom line.

The purpose of this GLOMACS training seminar is to:

• Enable delegates to evaluate Inventory visibility levels and

segmentation approaches

• Examine stocking level criteria through assignment practices

• Types of tools used for inventory optimization

• Current integration practices between materials

management systems and asset management systems

• Understanding that minimizing inventory holdings reduces

overhead costs and, hence, improves the profitability

performance of the enterprise

• Understand and implement the “world class” tools for

managing inventory in the supply chain

OBJECTIVES

This GLOMACS training seminar will help you learn how to:

• Improve management of inventories reaching from receiving

products to storage and delivering

• See that movement to the end-user adds value

• Professionally manage the inventory and supply chain and

help you to reduce cost, improve customer satisfaction and

increase safety and productivity.

• Look “outside of the box”

• Understand the appropriate Inventory methods to be

applied

• Establish more accurate forecast demands and maximize

the degree of service by reducing your inventory with a time-

conscious and integrated inventory management process

TRAINING METHODOLOGY

This GLOMACS Purchasing & Logistics training seminar on

Inventory & Stock Control Management will be presented by a

competent Professional who has designed successful inventory

control measures.

Participants will learn by active participation during the seminar

through the use of exercises, questionnaires, syndicate and group

discussion, training videos and practical on-hand application of

inventory and stock control tools.

ORGANISATIONAL IMPACT

• Examine the link of inventory in the company supply chain

operations and activities

• Analyse the key areas of operation

• Identify and understand key performance indicators

• Succeed in improving operations

• Apply the right cost and service balance

• Gain a competitive advantage

PERSONAL IMPACT

• How to analyse stock and inventory?

• How to make productivity improvements?

• Understand the Role of Inventory in the Supply Chain

• Balancing Cost and Service Requirements

• A Framework for Continual Improvement

• Best in Class Practices

WHO SHOULD ATTEND?

• Those New to Managing Inventory

• Those Non inventory people who need to gain an awareness

of the issues and key drivers of stock control operations

• Inventory, Stock, Supply Chain, Logistics, Warehouse and

Distribution Professionals

GLOMACS Training and Consultancy

INVENTORY & STOCK CONTROL MANAGEMENT

SEMINAR OUTLINE

DAY 1

Inventory and the Supply Chain

• Inventory Definitions and Importance

• Inventory Flow in the Supply Chain

• The Basic Rules of Successful Supply Chain

• Supply Chain and Inventory Dynamics

• Financial Management and Inventory

• Statistics Application in Inventory Control

• Truths on Inventory Visibility

DAY 2

Key Components to Understanding Effective Inventory Control

• End-User Demand Analysis

• Forecasting for Operations and Maintenance

• Understanding Supply Lead Time

• Cost & Benefits Analysis

• Developing Inventory Policies

• The Need for Inventory in Organizations

DAY 3

Inventory Mechanics, Methods and Systems

• Basic Mechanics of Inventory Systems

• Establishing Order Quantity

• Implications of Free Stock in Inventory

• Simple Replenishment Methods, for example, Min / Max

• Replenishment Methods, Reorder Point and Reorder Level

(ROP / ROL)

• Requirements Planning Systems, Bills of Material and

Inventory Planning

• Class Assignment Inventory Control Methods

DAY 4

Establishing Stock Control

• Establishing Stock Checking

• Developing Stock Accuracy

• Stock Tolerances and Approvals

• Stock Reconciliations / Discrepancies

• Identifying Surplus and Obsolescent Stock

• Identifying Different Storage Conditions

• Understanding Stock Coding

• Stock Variety Reductions

DAY 5

Understanding Inventory Strategies • Creating Inventory Policy

• Incoterms and the Supply Chain Rules

• Understanding Vendor Managed Inventory (VMI) and Co

Managed Inventory (CMI)

Inventory Improvements

• Using the Supply Chain

• Using the Theory of Constraints

• Practical Inventory Improvements

• Keys to Reducing Stock Levels

• Model for Planning Inventory

Inventory & Stock Control Management

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ApprovedCentre

REGISTRATION DETAILS

LAST NAME:________________________________________FIRST NAME:_______________________________________DESIGNATION:_____________________________________ COMPANY: ________________________________________ADDRESS: __________________________________________________________________________________________CITY:______________________________________________COUNTRY: ________________________________________TELEPHONE:______________________________________MOBILE: __________________________________________FAX:________________________________________________EMAIL:_____________________________________________

AUTHORISATION DETAILS

AUTHORISED BY:_____________________________________________________________________________________DESIGNATION:_____________________________________ COMPANY: ________________________________________ADDRESS: __________________________________________________________________________________________CITY:______________________________________________COUNTRY: ________________________________________TELEPHONE:______________________________________MOBILE: __________________________________________FAX:_____________________________________________EMAIL:_____________________________________________

PAYMENT DETAILS

q Please invoice my company q Cheque payable to GLOMACSq Please invoice me

CERTIFICATION

Successful participants will receive GLOMACS’ Certificate of Completion

P.O. Box 74653 Dubai, U.A.E.T: +971 (04) 425 0700 | F: +971 (04) 425 0701E: info@glomacs.com | W: www.glomacs.com

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Code Date Venue Fees

MM016 12 - 16 Apr 2020 Dubai - UAE $4,950

MM016 30 Aug - 03 Sep 2020 Dubai - UAE $4,950

MM016 13 - 17 Dec 2020 Dubai - UAE $4,950

4 WAYS TO REGISTER

Tel: +971 (04) 425 0700 Fax: +971 (04) 425 0701Email: info@glomacs.comWebsite: www.glomacs.com

TERMS AND CONDITIONS

• Fees – Each fee is inclusive of Documentation, Lunch and refreshments served during the entire seminar.

• Mode of Payment – The delegate has the option to pay the course fee directly or request to send an invoice to his/her company/sponsor. Credit card and cheque payments are both acceptable.

• Cancellation / Substitution – Request for seminar cancellation must be made in writing & received three (3) weeks prior to the seminar date. A US$ 250.00 processing fee will be charged per delegate for each cancellation. Thereafter, we regret that we are unable to refund any fees due, although in such cases we would be happy to welcome a colleague who would substitute for you.

• Hotel Accommodation – is not included in the course fee. A reduced corporate rate and a limited number of rooms may be available for attendees wishing to stay at the hotel venue. Requests for hotel reservations should be made at least three (3) weeks prior to the commencement of the seminar. All hotel accommodation is strictly subject to availability and terms and conditions imposed by the hotel will apply.

• Attendance Certificate – a certificate of attendance will only be awarded to those delegates who successfully completed/attended the entire seminar including the awarding of applicable Continuing Professional Education Units/Hours.

• Force Majeure – any circumstances beyond the control of the Company may necessitate postponement, change of seminar venue or substitution of assigned Instructor. The Company reserves the right to exercise this clause and implement such amendments.

• Fair Access / Equal Opportunities – In the provision of its services as a world-class Training Provider, the Company is committed to provide fair access / equal opportunities throughout the delivery of its courses and assessment leading to the completion of training seminars, or 3rd party qualifications/certifications.

INVENTORY & STOCK CONTROL MANAGEMENT