A Highly Interactive Training Course On

The Complete Course on Purchasing & Inventory Management

The Complete Course on Purchasing & Inventory Management
Course Schedule

CLASSROOM

10-21 Feb 2025
Dubai
$11,900
21 Apr-02 May 2025
Dubai
$11,900
26 May-06 Jun 2025
London
$11,900
30 Jun-11 Jul 2025
Dubai
$11,900
28 Jul-08 Aug 2025
London
$11,900
25 Aug-05 Sep 2025
Dubai
$11,900
03-14 Nov 2025
Dubai
$11,900
30 Mar-10 Apr 2026
Dubai
$11,900
Certificate
  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Training Overview

Training Overview

This 10-day training course is designed to equip leaders with essential skills to elevate procurement and inventory teams to world-class performance by streamlining organizational processes for greater efficiency and effectiveness. It addresses the critical need to reduce costs while maintaining high customer service levels, focusing on identifying and bridging performance gaps to achieve continuous improvement and meet strategic objectives.

Procurement and inventory management, often misunderstood areas within many organizations, are crucial for achieving strong business results. Implementing sound principles in these areas can enhance return on investment, improve quality, reduce costs, and lower working capital requirements.

The Coventry Academy training course will feature:

  • Selection and Application of Management Strategies
  • Managing Suppliers to Obtain Best in Class Results
  • Reduction in Inventory Investment
  • Improved Customer Satisfaction
  • Management of Stock Keeping Units

What are the goals?

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

  • Develop Strategic Purchasing Plans & Discuss How to Improve Internal Customer Service
  • Explore Many Ways of Reporting Key Performance Indicators (KPIs)
  • Understand the Most Important Competencies for Purchasing Personnel
  • Understand the Importance of Inventory & the Role it Plays in the Profitability of the Company
  • Apply Best Methods to Optimise the Investment in Inventory

Who is this Training Course for?

This training course is for Professionals and Staff in organisation that are responsible for improving quality, reducing costs, increasing productivity, raising inventory turns and enhancing customer service through better purchasing and inventory management.

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

  • Purchasing, Procurement, Contracts, Contract Administration, Projects Personnel
  • Engineering, Facilities, Finance, and Maintenance Personnel
  • Personnel Involved in the Planning and Management of Tender Process
  • Those Involved in Inventory Management as a Supplier, Buyer, Materials Planner, Warehousing, Finance or Even End-Customer
  • Those in General Management Wanting an Understanding of the Procurement and Inventory Processes

How will this Training Course be Presented?

This training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The training course is class-work based and will prompt delegates to reflect on current practices and on their current practices. The Tutor will guide and facilitate learning using a wide range of methods including direct input, discussions, case studies and exercises in groups and pairs.

The Course Content

Module 1The Complete Course on Purchasing Management
Day One: The 1st Steps to Becoming World Class
  • Stages To World Class Purchasing
  • How Purchasing is Viewed Today
  • Strategic Sourcing
  • Developing Spend Profiles and the ABC Analysis
  • New Job Descriptions For Purchasing of the Future
  • Purchasing Personnel Required Skill Sets
Day Two: Evaluating Your Own Operation
  • What are Best Practices
  • Purchasing Gap Analysis
  • Vision and Mission for Purchasing
  • Developing The Purchasing Department Strategic Plan
  • Developing Key Performance Indicators (KPIs) For Procurement
  • Developing A Company Purchase Price Index
Day Three: Continuous Improvement and How to Get It
  • Cost Reduction Initiatives
  • Methods of Cost Containment
  • Waste in The Supply Chain
  • Breaking Down The Elements Of Supplier Cost
  • Commodity/Service Strategic Planning
  • Resisting Price Increases
Day Four: Supplier Management Approaches
  • Supplier Classification System
  • Supplier Qualification Methods
  • Supplier Performance Metrics
  • Apply Performance Criteria to Purchasing Decisions
  • Process Mapping To Eliminate Low Value Activities
  • Applying eProcurement Business Process
Day Five: Improving the Image of Procurement
  • Global Sourcing
  • International Labor Rates Comparison
  • Developing and Maintaining a Customer Focus
  • Basic Issues In Corruption And Fraud Prevention
  • Increasing The Level of Procurement Professionalism
  • Keeping Current in the Profession
Module 2The Complete Course on Inventory Management
Day Six: 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 Seven: Demand Planning
  • Basic Forecasting Methods
  • Customer Segmentation
  • Hierarchy of Planning
  • Aggregate Planning
  • Maintenance & Inventory Planning Meeting
  • Master Scheduling
Day Eight: Forecasting
  • Principles of Forecasting
  • Effect of Lead Time on the Forecasting Process
  • Quantitative Forecasting
  • Qualitative Forecasting
  • Tracking Forecast Accuracy
  • Determining Safety Stock
Day Nine: Inventory Recording
  • Period Stock Take
  • Cycle Counting
  • Perpetual Recording
  • Utilising Bar-Cades to Manage Inventory and Movements
  • The Use of Radio Frequency Identification (RFID) for Recording Inventory Movement
  • Inventory Accounting
Day Ten: Performance Measurement
  • Stock Turnover Rate
  • Customer Service
  • Cost of Operations
  • Measuring the Effectiveness of Your System
  • How to Use the Measurements  
  • Class Exercise on Selective Inventory Management