Preventing Stock Deterioration and Obsolescence in Warehousing Operations

Objectives:
• Understand the causes and consequences of stock deterioration and obsolescence.
• Learn strategies to identify and mitigate risks of stock deterioration and obsolescence in warehouse and store operations.
• Explore best practices for inventory management and stock rotation to prevent deterioration and obsolescence.
• Develop skills to implement preventive maintenance measures and proper storage techniques for perishable and aging inventory.
• Gain insights into demand forecasting and inventory optimization to reduce the risk of excess stock and obsolescence.
• Understand the role of technology and data analytics in managing stock aging and obsolescence.
• Learn how to establish effective inventory control policies and procedures to minimize losses and maximize profitability.
Course Content:
Understanding Stock Deterioration and Obsolescence
• Causes and consequences of stock deterioration and obsolescence
• Impact on financial performance and operational efficiency
• Importance of proactive management in preventing stock deterioration and obsolescence
Risk Identification and Assessment
• Risk factors and indicators of stock deterioration and obsolescence
• Conducting risk assessments and vulnerability analyses
• Identifying high-risk inventory items and categories
Inventory Management Best Practices
• Stock rotation strategies and techniques
• FIFO (First-In, First-Out) and FEFO (First-Expired, First-Out) principles
• Just-In-Time (JIT) inventory management and lean practices
Preventive Maintenance and Storage Techniques
• Implementing preventive maintenance programs for equipment and storage facilities
• Proper storage conditions for perishable and aging inventory
• Inventory labeling and identification systems
Demand Forecasting and Inventory Optimization
• Forecasting demand for perishable and seasonal products
• Inventory optimization models and techniques
• Safety stock and buffer inventory management
Technology Solutions for Stock Management
• Inventory management software and automation tools
• RFID (Radio Frequency Identification) and barcode technology
• Data analytics for stock aging and obsolescence prediction
Inventory Control Policies and Procedures
• Establishing inventory control policies and guidelines
• Inventory audit procedures and compliance checks
• Documentation and record-keeping requirements
Case Studies and Best Practices
• Real-world case studies of successful stock deterioration and obsolescence prevention strategies
• Best practices adopted by industry leaders in warehouse and inventory management
• Lessons learned from past experiences and failures
Continuous Improvement and Adaptation
• Monitoring and evaluating preventive measures effectiveness
• Implementing corrective actions and process improvements
• Adapting to changing market conditions and customer demands

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:      28th – 31st Jan,                  2025     

2ND BATCH:     1st – 4th July,                     2025