Inventory Management and Stock Control

Introduction to Inventory Management
• Importance of inventory management
• Types of inventory and their characteristics
• Key terminology and concepts in inventory management
• Overview of inventory costing methods

Stock Control Techniques
• Economic Order Quantity (EOQ) model
• Just-In-Time (JIT) inventory management
• ABC analysis and Pareto principle
• Reorder point (ROP) and safety stock

Inventory Management Systems
• Inventory management software and tools
• Barcode and RFID technology
• Cycle counting and physical inventory procedures
• Warehouse layout and organization

Inventory Valuation and Costing
• FIFO, LIFO, and weighted average costing methods
• Inventory valuation under different costing methods
• Cost accounting principles related to inventory management
• Impact of inventory valuation on financial statements

Forecasting and Demand Planning
• Forecasting techniques and methods
• Demand forecasting models
• Factors influencing demand variability
• Role of demand planning in inventory optimization

Inventory Performance Metrics
• Key performance indicators (KPIs) for inventory management
• Inventory turnover ratio and days sales of inventory (DSI)
• Fill rate, stockout rate, and service level
• Measuring and improving inventory accuracy

Inventory Management Strategies
• Vendor-managed inventory (VMI)
• Consignment inventory
• Cross-docking and dropshipping
• Collaborative planning, forecasting, and replenishment (CPFR)

Inventory Risk Management
• Risk factors in inventory management
• Strategies to mitigate inventory risks
• Contingency planning and supply chain resilience
• Compliance and regulatory considerations in inventory management

Case Studies and Best Practices
• Real-world case studies illustrating successful inventory management practices
• Best practices for optimizing inventory levels and reducing carrying costs
• Lessons learned from industry leaders in inventory management

Future Trends in Inventory Management
• Emerging technologies and innovations in inventory management
• Impact of globalization and supply chain digitization
• Sustainable inventory management practices
• Future challenges and opportunities in the field of inventory management

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