Advanced Inventory and Stores Management: Modern Practices and Strategies

Objectives:
• Gain a comprehensive understanding of modern inventory management principles and techniques.
• Learn advanced strategies for optimizing inventory levels and minimizing costs.
• Explore innovative technologies and tools for efficient stores management.
• Develop skills to analyze and improve inventory processes to enhance operational efficiency.
• Understand the role of data analytics and automation in modern inventory management.
• Learn best practices for inventory forecasting, demand planning, and replenishment.
• Acquire knowledge of risk management strategies and compliance considerations in inventory and stores management.
• Explore sustainability practices and green initiatives in modern inventory management.
Course Content:
Overview of Modern Inventory Management
• Evolution and trends in inventory management
• Importance of modern inventory management in supply chain optimization
• Key challenges and opportunities in modern inventory management
Advanced Inventory Optimization Techniques
• Economic order quantity (EOQ) optimization
• Just-in-time (JIT) inventory management
Technology and Automation in Stores Management
• Inventory management software and systems
• RFID and barcode technology for inventory tracking
• Automated picking and replenishment systems
Data Analytics and Decision Making
• Role of data analytics in inventory management
• Predictive analytics for inventory forecasting
• Real-time inventory visibility and analytics dashboards
Inventory Forecasting and Demand Planning
• Forecasting methods and models
• Demand planning techniques
• Collaborative forecasting and demand sensing
Risk Management and Compliance
• Inventory risk assessment and mitigation strategies
• Compliance considerations in inventory management (e.g., regulatory compliance, product safety)
• Supply chain resilience and contingency planning
Green Practices and Sustainability
• Sustainable inventory management practices
• Green initiatives in stores management (e.g., reducing waste, energy-efficient operations)
• Environmental impact assessment in inventory management
Case Studies and Best Practices
• Real-world case studies of successful modern inventory management implementations
• Best practices and lessons learned from industry leaders
• Innovative approaches to inventory and stores management

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 Apr,                  2025     

2ND BATCH:     28th – 31st Oct,                 2025