Advanced Inventory and Stores Management Strategies

Objectives:
• Master advanced techniques for inventory optimization and stock control.
• Explore innovative approaches to store layout, organization, and workflow management.
• Develop skills to implement lean principles and continuous improvement methodologies in stores operations.
• Learn advanced inventory valuation methods and cost accounting principles.
• Understand the role of technology and automation in modern inventory management systems.
• Gain insights into supply chain integration and strategic sourcing strategies for efficient inventory management.
• Enhance decision-making abilities through data-driven analytics and inventory performance metrics.
• Learn best practices for risk management, compliance, and sustainability in stores and inventory management.
Course Content:
Advanced Inventory Optimization Techniques
• Multi-echelon inventory optimization
• Demand forecasting using advanced statistical methods
• Inventory stratification and segmentation strategies
Lean Inventory Management
• Lean principles and their application in stores management
• Just-In-Time (JIT) and Kanban systems
• Value stream mapping (VSM) for waste reduction
Technology in Inventory Management
• Inventory management software and enterprise resource planning (ERP) systems
• Automated inventory tracking and RFID technology
• Cloud-based inventory management solutions
Advanced Inventory Valuation and Costing
• Activity-based costing (ABC) for inventory valuation
• Throughput accounting and bottleneck analysis
• Total landed cost analysis and supplier performance metrics
Supply Chain Integration and Strategic Sourcing
• Collaborative supply chain management (CSCM)
• Vendor-managed inventory (VMI) and consignment inventory
• Strategic sourcing strategies for cost reduction and risk mitigation
Data Analytics and Performance Metrics
• Key performance indicators (KPIs) for inventory management
• Inventory turnover ratio and days sales of inventory (DSI)
• Predictive analytics for demand forecasting and inventory optimization
Risk Management and Compliance
• Identification and assessment of inventory risks
• Regulatory compliance requirements for inventory management
• Disaster recovery planning and business continuity management
Sustainable Inventory Management
• Environmental considerations in inventory management
• Sustainable sourcing and green procurement practices
• Carbon footprint reduction initiatives in supply chain operations
Advanced Store Layout and Workflow Management
• Store layout optimization for efficiency and productivity
• Space utilization techniques and ergonomic design principles
• Workflow automation and process reengineering

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:        18th – 21st Feb, 2025    

2ND BATCH:       29th July – 1st Aug, 2025