A highly interactive training

The Complete Course on Inventory Management

From Principles to Action: Develop Comprehensive Skills
for Inventory Success from Start to Finish

Course Schedules

Dubai

17-21 Feb 2025

$5,950

Dubai

28 Apr-02 May 2025

$5,950

London

02-06 Jun 2025

$5,950

Dubai

07-11 Jul 2025

$5,950

London

04-08 Aug 2025

$5,950

Dubai

01-05 Sep 2025

$5,950

Dubai

10-14 Nov 2025

$5,950

Training course overview

The objective of inventory management is to ensure a continuous supply of materials for production and operations. Given that inventory often represents a significant portion of a company's current assets, inventory-related issues can lead to substantial financial losses. This Coventry Academy training course explores the intricacies of inventory control, a subset of inventory management focused on minimizing total inventory costs while maximizing timely product availability for customers. Despite its critical importance, inventory management is frequently misunderstood, and managers often overlook the direct impact it has on overall business performance.

What are the goals?

By the end of this Coventry Academy training course, participants will be able to:

Plan and Maintain Inventory at Sufficiently High Level to Support Production and Operations Activities Smoothly
Minimize Investment in Inventory at Minimum Level to Maximize Profitability
To Evaluate Investment in Inventory at Optimum Level Thus Minimizing Carrying Cost of Inventory
Establish Selective Inventory Management Control Utilizing Value and Criticality Analysis
Establishing Minimum Inventory Ordering Cost Using Economic Order Quantity Principles

Who is this training course for?

This Coventry Academy training course is suitable to a wide range of professionals but will greatly benefit:

Those Involved in Inventory, Albeit as Supplier, Buyer, Materials Planner, Warehousing, Finance or Even End-Customer
Professionals and Staff in the Organization Who Are Responsible for Reducing Costs, Increasing Productivity, Raising Inventory Turns and Enhancing Customer Service Through High Fill Rates, Accurate Information and Excellent Order Fulfillment

Course Outline

Day One: Inventory in the Value Chain

The purpose of inventory in the value chain
Classification of inventory
Procedure for eliminating obsolete inventory
Pareto Law in identifying product Classification
Location of inventory
Using Economic Order Quantity on managing inventory order levels

Day Two: Demand Planning

Basic forecasting methods
Customer segmentation
Hierarchy of planning
Aggregate planning
Maintenance & Inventory planning meeting
Master Scheduling

Day Three: Forecasting

Principles of forecasting
Effect of lead time on the forecasting process
Quantitative forecasting
Qualitative forecasting
Tracking forecast accuracy
·Determining safety stock

Day Four: Inventory Recording

Period stock take
Cycle counting
Perpetual recording
Utilizing Bar-cades to manage inventory and movements
The use of Radio Frequency Identification (RFID) for recording inventory movement
Inventory accounting

Day Five: Performance Measurement