Course Objectives
Objective for Effective Stock Taking And Inventory Control program:
- Understand the principle of stock management
- Develop plan and implement suitable stock control for stock accuracy
- Develop plan for systematic stock taking
- Develop problem solving analysis to resolve stock issue
- Develop performance indices to measure stock performance
Who Should Attend
All employees involve in supply chain activities of the organization, including procurement, logistics and operational team members.
Course Content
Module 1 : Key Principle of Stock and Inventory System
- Definition of Inventory and Stock
- Key difference Inventory versus Stock
- Type of Inventory
- Key principles of stock and inventory management
- Picking system
- Put away system
- Holding cost
Module 2 : Pareto for stock management
- What is Pareto analysis
- Pareto for stock management
- Step in conducting pareto analysis
Module 3 : Cycle counting and Stock taking
- Stock taking process
- Key principle of stock taking
- Stock taker responsibilities
- Auditors’ role in stock taking
- Cycle counting
- Key Principle of Cycle counting
- Selection method for cycle counting
- Identification of probable causes for stock variances
- Pareto analysis of causes of stock variances
Module 4 : Root cause analysis
- 8D problem solving process
Module 5 : Stock and Inventory management system
- Inventory turnover ratio
- Economic order quantity
- Pull and Push inventory
- Reorder and Safety stock calculation
- Stock level management
- Forecasting of stock
- Kanban system
- Periodic replenishment
