Achieving Excellence in Warehouse and Inventory Management

Introduction

Effective warehousing and inventory management are critical for successful procurement and supply chain management, ensuring high-quality customer service. Properly managing warehouses and inventory helps businesses maintain optimal stock levels, reduce costs, and enhance customer satisfaction.

The Achieving Excellence in Warehouse and Inventory Management course aims to provide a comprehensive understanding of warehousing principles and inventory control. Participants will explore various systems and best practices within the industry. 

Objectives

The Achieving Excellence in Warehouse and Inventory Management course will enable participants to:

• Understand principles of warehouse and inventory management.
• Assess existing methods and procedures.
• Evaluate operations and activities.
• Analyze key operational areas.
• Identify and understand key performance indicators (KPIs).
• Enhance workplace and personal productivity.
• Implement changes to improve customer service and reduce inventory costs.
• Minimize wasteful expenses and internal performance issues.
• Gain added value for money.
• Apply essential tools for effective warehouse and inventory management within the supply chain.

Training Methodology

• Case Studies
• Interactive Workshops
• Simulation Exercises
• Group Discussions
• Best Practice Reviews
• Role Play
• Scenario Analysis

Course Outline

Unit 1: The Purpose of Warehousing

• Definition and necessity of warehouses
• Roles and functions in the supply chain
• Trade-offs between sorting and storing
• Key questions for warehousing activity

Unit 2: The Basis of a Product Range

• Supply and demand factors
• ABC analysis (80/20 rule)
• Product handling groups
• Throughputs and product formats

Unit 3: Layout Options

• Receiving methods
• Storing methods
• Picking and assembly methods
• Dispatching methods
• Designing for activity

Unit 4: Methods and Equipment

• Types of warehouse buildings
• Loading bays and equipment
• Forklift trucks and racking
• Timing and planning for operations

Unit 5: Health and Safety

• Duty of care
• Inspection and risk assessment
• Equipment care and maintenance
• Increasing awareness

Unit 6: Security and Loss

• Reducing internal and external theft
• Actions to minimize security risks

Unit 7: Productivity and Costs

• Mixed costs and typical expenses
• Productivity, utilization, and performance measures
• Managing performance parameters

Unit 8: Service Levels

• Internal and external customer types
• Measuring customer service
• Consequences of substandard service
• Reducing errors

Unit 9: Warehouse Layout

• Advantages and disadvantages of various layouts
• Designing for movement
• Decision-making tools

Unit 10: Inventory and the Supply Chain

• Inventory control concepts
• Classification and replenishment
• Bullwhip effects and flow control
• Supply chain rules of engagement

Unit 11: Inventory Key Concepts

• Demand analysis and forecasting
• Supply lead time
• Costs and benefits
• Acquisition policies

Unit 12: Inventory Replenishment Methods and Systems

• Essential elements of inventory systems
• Stock time curve and components
• Basic and complex resupply methods
• Material Requirements Planning (MRP)

Unit 13: Stock Control-Coding

• Coding strategies
• Inventory value and overstock analysis
• Selecting optimal strategies

Unit 14: Stock Control-Recording

• Functional segregation
• Juridical aspects
• Error management

Unit 15: Stock Control – Checking

• Role management and constraints
• Job functions and authority levels
• Stock taking methods and reconciliation

Unit 16: The Performance of the Inventory

• Inventory assessment and status checks
• Inventory control strategies
• Stock targets and KPI evaluation

Unit 17: Inventory Strategies

• Push/pull systems
• Quick Response and Efficient Consumer Response
• CPFR, Lean, and Agile strategies
• Integrated collaborative supply chains

Unit 18: Improvements of Inventory or Stock

• Delivery management and theory of constraints
• Advanced stock management techniques
• Electronic ordering and information systems
• Inventory system management and planning