Inventory Management

RATIONALE
In line with the policy of an organization, warehouse inventory must be optimized and planned to provide materials necessary for continued operations with minimal interruptions and must be accurately controlled and documented at all time.

OBJECTIVES
At the end of the training, participants will be able;


  • To implement clear and standardized instructions of the company regarding warehouse and inventory management
  • To adopt material reception, valuation, verification and issue or disposition of parts and equipment in inventory.
  • To ascertain, maintain and ensure the preservation of parts and equipment stored in a warehouse.
  • To deploy the standard approach to optimize inventory content.

CONTENT

  • Definition of a warehouse and type of warehouses
  • The key elements of warehouse management
  • Warehouse Standard Best Practices / Warehouse Safety
  • Duties and Responsibilities of Warehouse Personnel's
  • Handling, Packaging and Shipment of all Materials
  • Who is responsible for managing inventory
  • Inventory value and its impact
  • What are critical spares and how do we define them
  • Replenishment stock
  • On Request Only and Consumption stock
  • Lead Time and Setting Min /Max
  • Freight Schedule and Cut-offs
  • Ordering or Requisitioning for Materials
  • Using Correct Related Item Numbers ( e.g. Codes)
  • Purchase Agreement
  • Non-Moving Spares
  • Inventory Turns
  • How to Manage Inventory Levels
  • Inventory Analysis
  • Certification, MSDS and Document Management
  • Inventory Accuracy
  • Audit Requirement / Physical Inventory Cycle Counting
  • Sarbox Controls.

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