Prevention of Stock Deterioration and Obsolescence in the Stores and Warehouse

Prevention of Stock Deterioration and Obsolescence in the Stores and Warehouse

Strategies for Preventing Stock Deterioration and Obsolescence in Warehousing Operations
Objectives:
• Understand the causes and consequences of stock deterioration and obsolescence in warehouse and store operations.
• Learn effective strategies and best practices for identifying and mitigating risks associated with stock deterioration and obsolescence.
• Develop skills to implement preventive measures to safeguard inventory quality and value.
• Explore inventory management techniques and technologies to optimize stock levels and minimize the risk of obsolescence.
• Gain insights into forecasting methods and demand planning strategies to anticipate and prevent stock obsolescence.
• Understand the role of inventory control policies and procedures in preventing stock deterioration and obsolescence.
• Learn about inventory valuation methods and accounting practices related to obsolete stock management.
Course Content:
Understanding Stock Deterioration and Obsolescence
• Causes and consequences of stock deterioration and obsolescence
• Impact of stock deterioration and obsolescence on warehouse operations
• Importance of proactive measures in preventing stock deterioration and obsolescence
Risk Identification and Assessment
• Techniques for identifying and assessing risks associated with stock deterioration and obsolescence
• Risk mapping and prioritization strategies
• Inventory analysis tools and methods
Inventory Management Techniques
• ABC analysis and Pareto principle for inventory classification
• Economic order quantity (EOQ) and reorder point (ROP) calculations
• Just-In-Time (JIT) inventory management principles
Forecasting and Demand Planning
• Forecasting methods and techniques
• Demand planning strategies for minimizing stock obsolescence
• Collaborative forecasting and demand-supply synchronization
Inventory Control Policies and Procedures
• Stock rotation and shelf-life management policies
• First-In-First-Out (FIFO) and Last-In-First-Out (LIFO) inventory control methods
• Standard operating procedures for stock handling and storage
Inventory Optimization Technologies
• Inventory management software and systems
• RFID and barcode technology for inventory tracking and management
• Warehouse automation and robotics for efficient stock handling
Obsolete Stock Management
• Inventory valuation methods for obsolete stock
• Strategies for disposing of obsolete stock
• Salvage, liquidation, and recycling options for obsolete inventory
Performance Measurement and Monitoring
• Key performance indicators (KPIs) for stock deterioration and obsolescence prevention
• Inventory turnover ratio and aging analysis
• Continuous improvement and corrective action planning
Regulatory Compliance and Reporting
• Compliance requirements for handling and disposing of obsolete stock
• Reporting obligations for obsolete inventory management
• Auditing and documentation practices for regulatory compliance
Case Studies and Best Practices
• Real-world case studies of successful stock deterioration and obsolescence prevention strategies
• Best practices in warehouse and store management for minimizing stock obsolescence
• Lessons learned from industry leaders in stock management and inventory optimization

FOR WHOM:
Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:        14th – 17th Jan, 2025      

2ND BATCH:       17th – 20th June, 2025