Materials Management & Inventory Control

Besides, the course will cover the Materials Controller's & Planning roles and responsibility is one of the key functions in the overall supply chain, and managing effectively will result in meeting business objectives and assuring satisfies customers.

 

Course Objectives

• Greater understanding of the goals and objectives of inventory management

• Tools and techniques of inventory management

• Learn how to manage and control inventory accuracy

• Implement an inventory management process across your organisation

• Planning and controlling inventory levels and planning

• Physical control of inventories

• Material Requirement Planning

• Manufacturing Resource Planning principles

• Master scheduling management methods

 

Day 1
Inventory and the Supply Chain

• Inventory management definition

• Types of stock

• Demand amplifications

• Demand replenishment in networks

• Managing the flows

• Type I and II supply chains

• The Supply Chain Rules

• Inventory and statistics

• Concept of service level

Inventory Key Concepts

• Key Component: Demand Analysis

• Key Component: Demand Forecasting

• Key Component: Supply Lead Time

• Key Component: Cost & Benefits

• Inventory benefits

• Inventory policies

• Inventory in organizations

Day 2
Inventory Replenishment Methods and Systems

Inventory Replenishment Methods and Systems

• Basic mechanics of inventory systems

• The stock time curve

• Stock components

• Stock investment

• Free stock

• Fixed order quantity systems

• Fixed order time cycle systems

• Requirements planning systems

• Stock Control and Checking

Inventory receipts

• Identifying inventory

• Surplus and obsolescent stock

• Stock control and records

• Stock checking programs

• Reviewing current procedures and polices

Day 3
Inventory Performance

• Inventory Assessment

• Assessing the stock level

• Models for implementing inventory control

• Determining stock targets

• Inventory questions

• Inventory KPI’s in warehouses/stores

Inventory Strategies

• Push/pull

• Quick response (QR)

• Efficient consumer response (ECR)

• Collaborative planning forecasting and replenishment (CPFR)

• Lean and agile approaches

• Quality Management

• Postponement

• Cross Docking

• Consolidation

• Vendor Managed Inventory (VMI)

• Consignment stocking

• Co Managed Inventory (CMI)

• Direct product profitability (DPP)

• Economic value added (EVA)

• Collaborative supply chains

Day 4
Inventory Improvements

• Using the Supply Chain

• Using the Theory of Constraints

• Practical inventory improvements

• Call offs and Telemetry

• EDI and ICT

• Keys to reducing stock levels

• The 7 Rules for planning inventory

• Model for planning inventory

Day 5
Business Concepts and Planning

• Timeline for emerging new technologies in manufacturing

• Key manufacturing Questions

• Concept of Supply Chain Management

• Classification of Operations

• Business Planning Cycle

MRP - Materials Requirement Planning

• Materials Structure Tree

• Gross Materials Requirement Planning

• Net Materials Requirement Planning

• Master Production Scheduling Overview

• Bill of Materials

• Key MRP Activities

• MRP Integration Issues