WAREHOUSE & INVENTORY MANAGEMENT

for warehouse & inventory management professionals

 

OVERVIEW

The Warehouse & Inventory Management function normally accounts for between 30% – 45 % (and in some instances as much as 70%) of overall business expenditure and costs.  Any savings or reduction in these costs therefore, impacts directly on the company’s bottom-line or profit position. Hence, this area has evolved from an operational function to a strategic based function which makes decision making within its delivery centered on the following:

·        Cost Reduction

·        Process Analysis

·        Performance Indicators

·        Score-carding

·        Alliances

·        Relationship Management

These functions require that the Warehouse & Inventory Management Manager, Supervisor and related staff be developed and trained in areas of Cost Management, Project Management, Negotiation skills, Contracts, Computerized Warehouse & Inventory Management Systems, etc. to perform at the levels of competencies demanded by contemporary materials organizations while commanding respect amongst their peers.

This course is the first stage in a range of functional and executive development programmes aimed at building the Warehouse & Inventory Management personnel knowledge and skills necessary to perform in the challenging, multi-skilled demanded environment of today’s businesses.  New concepts, techniques and tools will be introduced keeping up-to-date with current trends and technologies ensuring  complete and detailed package strategically suited to development and upgrade any Materials department.

OBJECTIVES

1.     Identify the key basic functions of Warehouse & Inventory Management inclusive of Inventory control, Procurement and Warehouse Management

2.     Learn the importance, theory and application of proper inventory location systems and layout, storage, receipts, preservation and issues systems.

3.     Ensure the need to focus on Cost Reduction as a major Warehousing Management strategy.

4.     Appreciate how Warehousing operations can affect an organization’s Profitability.

5.     Develop the competencies of effective Negotiation.

6.      Know the Strategic and Accounting implications of Warehousing and Inventory decisions.

7.      Understand the critical need for Key Performance Indicators / Score-carding in Warehousing.

8.     To utilize tools and technique of contemporary Warehousing and Inventory.

9.     Understand the elements of a good Contract Management system

 

PROGRAMME INFORMATION

Time Frame:    Six Weeks

Date               Tue Nov 10th & Tue Dec 16th  2008

Time:              6.00 P.M. – 8.00 P.M.

Venue:           HECS Conference room 18 Rushworth Street San Fernando Trinidad

 

FEE STRUCTURE

Course Design & Preparation                                                                     

Course Manual & Certification                                                                  

Delivery & Facilitation

Post Programme Evaluation                                                                       

TOTAL:                                                                                               $ 1,750

Programme is inclusive of the under-mentioned:

  1.  Workshop & Role play exercises

  2.  Classroom sessions / Functional focus

  3. Team development exercises

  4. Case study

  5. Field exercise

COURSE  OUTLINE

v    IDENTIFYING AND DEFINING WAREHOUSE & INVENTORY MANAGEMENT

Þ          Definition – what is Nature and Characteristics

Þ          Development and importance

Þ          Reporting relationships                

v   THE ROLE OF MATERIAL MANAGEMENT IN THE ORGANIZATION

Þ    Service Provider

Þ    Materials coordinator

Þ    Business Analyst

Þ    Cost Reduction management

v    COMPETENCIES/SKILLS OF THE WAREHOUSE & INVENTORY MANAGEMENT PROFESSIONAL

Þ    Academic requirements

Þ    Functional necessities

Þ    Social skills

COURSE  OUTLINE

v   ELEMENTS OF WAREHOUSING MANAGEMENT

Þ          Receiving

Þ          Issuing

Þ          Storage and Preservation

Þ          Design and Layout

Þ          Salvage and Disposal

Þ          Bar-coding – mobile inventory

Þ          Importance of knowing Holding Cost

v   WORKSHOP

Þ    (Analyzing your organization's design and layout)

 

v    CONTRACT MANAGEMENT

Þ       What is Contract Administration

Þ       Tender process

Þ       Tender Evaluation and Award

Þ       Contractor Performance Management

  
COURSE  OUTLINE 

v     INVENTORY CONTROL TECHNIQUES

Þ    Fix Order Point

Þ    JIT

Þ    Materials Requirement Planning

Þ    Dependent Demand System

Þ    Electronic Data Interface

Þ    Economic Order Quantity

Þ    Materials coding and identification

 

v    PROCUREMENT MANAGEMENT

Þ    Vendor relationship and evaluation management

Þ    Vendor registration systems

Þ    Materials Sourcing and location

Þ    Quotation Evaluation and Assessments

Þ    Purchase order systems – call off, consolidation,  etc

 

v    COMPUTERIZED WAREHOUSE & INVENTORY MANAGEMENT SYSTEMS

Þ    Deciding whether a CMMS is necessary

Þ    How to select a CMMS

Þ    Choosing the optimum CMMS system

                        

COURSE  OUTLINE      

v    KEY PERFORMANCE INDICATORS

                                    (TEAM EXERCISE)                      

   (Applying KPI solutions in WAREHOUSE & INVENTORY MANAGEMENT)

v        ETHICS AND ACCEPTABLE BEHAVIOR IN WAREHOUSE & INVENTORY MANAGEMENT.

 

  

                                 

 

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