Advanced Stores and Inventory Management

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Advanced Stores and Inventory Management Course
Introduction:
With inventories often worth millions of dollars, it is crucial to have a well-managed warehouse that can effectively store and protect these valuable assets. In this course, we will cover the latest and most effective methods for storing and safeguarding high-value inventories. We will also discuss the key features of a modern warehouse. Accurate inventory knowledge is essential, and we will explore methods to achieve record accuracy and successful cycle counting. Additionally, we will apply a scientific approach to auditing the warehouse, ensuring thorough and reliable assessments.
Course Objectives:
By the end of the course, participants will be able to:
- Explain the challenges, objectives, and functions of warehousing
- Perform ABC inventory classification and cycle counting and calculate record accuracy and discrepancies
- Describe the different types of storage and material handling systems
- Improve supervisory skills and deal more effectively with warehouse staff issues
- Develop better skills for housekeeping and safety within the warehouse
- Measure warehouse productivity using the right Key Performance Indicators (KPIs) and conduct a scientific audit of the warehouse
Who Should Attend?
Those involved in warehousing (store) activities, both at the operational and supervisory levels. The course is also appropriate for anyone interested to know more about the interaction between warehousing and other materials management functions (purchasing, inventory control, and distribution).
Course Outlines:
Introduction to warehousing management
- Objectives of warehousing
- The modern warehouse
- The warehousing cycle
- Problems and challenges in warehousing
- Warehousing and inventory costs
- Customer service in warehousing
Inventory classification and record accuracy
- Types of inventory
- The ABC classification
- Uses of the ABC classification
- Inventory record accuracy
- Reasons for poor accuracy
- Periodic and cycle counting
- Systems and methodology of counting
- Knowing what is inside the warehouse
- Knowing how much is inside the warehouse
Storage and material handling systems
- The layout of the warehouse
- Size and shape of the warehouse
- Storage utilization and organization
- Types of storage systems
- Fixed versus random location
- Material handling equipment
- Material handling equipment checklist
- Improving the receiving/issuing material operations
Dealing with staff-related warehousing issues
- Key roles of the warehouse manager
- Staff management issues
- Corrective guidance techniques
- Qualities of a good warehouse employee
- The motivation of warehouse employees
Safety in the warehouse
- Good housekeeping inside the warehouse
- Identifying safety hazards
- Unsafe acts and conditions
- Causes of damage
- Planning for safety
Productivity and audit of a warehouse
- Definition of productivity
- Causes of lost time
- Warehousing key performance indicators
- Objectives of the warehouse audit
- Components of the audit
- Steps to follow before, during and after the audit