Inventory and Stock Control Management

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Inventory and Stock Control Management Course
Introduction:
This course provides a comprehensive overview of supply chains from a logistics and demand perspective, catering to both suppliers and buyers. It delves into the fundamental principles of logistics and supply chain management, emphasizing key aspects such as the value of time, the significance of customer movement, the importance of collaboration, and the need for innovative thinking.
Participants will learn how to transform current methods and practices to achieve tangible benefits. The course identifies and discusses the Rules for Effective Supply Chain Management, supported by relevant case studies and best practice guidelines.
By attending this course, suppliers and buyers will gain valuable insights and strategies to optimize their supply chain management approach, leading to improved outcomes and enhanced efficiency.
Course Objectives:
Upon the successful completion of this program, participants will be able to:
- Understand the integration between the various elements in the supply chain process;
- Add value to a supply chain through efficient logistics practices in the supply chain
- Follow an integrated management approach towards logistics in the supply chain
- Identify profitable customers in the supply chain to decide which customers should be rendered a basic service, zero-defect service, or value-added service
- Implement optimum customer service strategies from a logistics viewpoint
- Develop an effective channel strategy (selecting distribution channels)
- Set optimum inventory levels using basic methods
- Optimize inventories through proper logistics requirement planning in the supply chain
- Make appropriate transport arrangements with due consideration of product and market characteristics and of transport costs
- Understand the role of warehousing, materials handling, and packaging in logistics
- Contribute towards the optimum design of a supply chain network (number and location of depots/warehouses).
- Use the procurement excellence model to benchmark their own organization against best in class;
- Understand the application of the integrated purchasing model and the event-process model for managing demand;
- Develop strategies for successful global supply chain management;
- Understand how to optimize the supply chain;
- Understand the implication of new environmental legislation governing the use and movement of hazardous materials and waste, and how to design the supply chain to minimize the impact of these regulations;
- Use the latest tools and techniques to evaluate supply chain systems
Who Should Attend?
The program will be of value for senior and middle management who are involved in supply chain management or logistics & warehouse functions. Managers on all levels of participating companies in a supply chain (manufacturers, distributors, wholesalers, retailers, and logistics service providers) will benefit from this program. In particular, people involved in purchasing, operations, warehousing, inventories, transport, and total supply chain management will find this program valuable.
Course Outlines:
Understanding what Logistics and the Supply Chain are about
- Definitions of logistics and Supply Chain management
- The interrelations and connections of Buying, Making, Moving, and Selling activities
- History and the development
- A view of the future.
Key Aspects of Supply Chain Management
- The cost/service balance
- Customer service principles
- Lead times throughout the supply chain
- Adding value
- Production options/changes
- Trade off opportunities
The Benefits of adopting a Supply Chain approach
- Understanding the sub functional conflicts
- Benefits within and between functions
Taking a supply chain view of total acquisition costs - Accepting that competitive advantage comes from the Supply Chain
Why a Supply Chain approach will change traditional ways
- Looking at demand amplification, and the "Forester" effect,
- Appreciating the effects of uncertainty and unresponsiveness
- Seeing how we currently manage the supply chain
- Changing the way we manage the Supply Chain for effectiveness
Impacts to the Supplier/Customer relationships
- Practical effects on lot sizes/order quantities
- Reducing costs
- Sharing developments
- Eliminating internal and external barriers
- Interfacing versus integrating relationships.
Case Studies
- Manufacturing and Retailer case studies
- The major lessons and key aspects from experience
Implementing a Logistics/Supply Chain management approach
- The changes needed with suppliers and customers.
- The changes need to internal organization and management practices
- Potential action needed
- The "doing nothing" future, with “lessons from experience”
- Guarding against futures of higher stock levels and competition gains
- Breaking down traditional silo/closed management