Methodology

The course uses a mix of interactive and hands-on techniques. Beside the brief presentations by the consultant and the participants, there will be many individual and group exercises. The work related activities require participants to calculate or draw optimal solutions for different scenarios after understanding the process.

Course Objectives

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

Describe the objectives and functions of inventory and supply chain management (stock control, purchasing, stores and physical distribution) and explain how they relate to each other

Categorize stock items based on the ABC classification model

Calculate future demand for different stock items

Identify Reorder Points (ROP), Economic Order Quantity (EOQ) and Safety Stocks (SS) for different stock items

Apply the basic purchasing processes and use Incoterms appropriately

Identify best practices in warehouses to maintain accurate inventory records

List the various transportation functions and costs

Target Audience

Those involved in any function of materials and supply chain management (inventory, warehousing, purchasing and transportation) who are concerned with successfully providing acceptable customer or user service at a minimum cost. This course is also appropriate for anyone who needs to know more about the role of materials management.

Target Competencies

Logistics theory and practices

Planning and logistics work processes

Assessment and planning of requirements

Demand planning

Procurement

Warehouse management

Logistics and transportation management