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Inventory Control Course


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Summary

The Inventory Control course, offered by the British Academy for Training and Development, is a specialized training program aimed at enhancing participants' skills in inventory management efficiently, aligning with market needs and business requirements. This course focuses on modern and effective inventory control methods to ensure the optimal availability of materials without facing the risks of overstocking or material shortages.

The course covers the essential aspects of inventory monitoring, from forecasting strategies and data analysis to identifying the optimal systems for inventory needs, helping companies achieve a balance between costs and operational efficiency. It also emphasizes the importance of reducing waste and excess storage, leading to cost savings and improving production process effectiveness. Participants will gain the skills necessary to use efficient tools and techniques for inventory planning and organization, in addition to the ability to make strategic decisions to improve supply chain management within the organization.

This course aims to provide logistics and inventory specialists with an in-depth understanding of the challenges related to inventory and how to apply best practices to minimize waste and ensure smooth workflow. Effective inventory control techniques will be discussed through improving resource utilization and organizing periodic and accurate inventory audits.

Objectives and target group

Who Should Attend?

  • Inventory and warehouse managers.
  • Purchasing and logistics managers.
  • Accounting and finance staff involved in inventory control.
  • Individuals interested in enhancing their supply chain management skills.

 

Knowledge and Benefits:

After completing the program, participants will be able to master the following:

  • Equip participants with the knowledge needed to improve inventory management efficiency.
  • Teach participants how to use effective inventory control tools and techniques.
  • Enhance data analysis skills and decision-making related to inventory.
  • Enable participants to identify actual inventory needs and reduce waste and loss.
  • Provide a comprehensive understanding of how to determine optimal inventory levels and balance supply and demand.

Course Content

  • Inventory Management and Its Importance

    • The concept of inventory management in companies and organizations.
    • The importance of inventory control in improving operational performance.
    • The relationship between inventory management, production, and sales.

  • Types of Inventory and Their Objectives

    • Raw materials, finished goods, and work-in-progress inventory.
    • Inventory goals to ensure continuous operations.
    • Classifying inventory according to its importance and quantity.

  • Basic Concepts in Inventory Control

    • Balancing supply and demand.
    • The concept of overstock and stock shortages.
    • The impact of inventory on working capital.

  • Inventory Forecasting Methods

    • Forecasting demand using historical data.
    • Using trend analysis techniques.
    • Quantitative and qualitative methods for forecasting.

  • Inventory Control Methods

    • Perpetual Inventory System.
    • Periodic Inventory System.
    • FIFO (First In, First Out) and LIFO (Last In, First Out) methods.

  • Inventory Control Techniques and Reducing Waste

    • Implementing minimum/maximum techniques.
    • Determining optimal inventory levels.
    • Techniques for monitoring waste and losses.

  • Types of Reports Used in Inventory Management

    • Performance and inventory analysis reports.
    • Movement and transfer reports between warehouses.
    • Reconciliation reports and differences between actual inventory and recorded stock.

  • Data Analysis Related to Inventory

    • Analyzing inventory turnover.
    • Calculating inventory costs and their impact on company profitability.
    • Profitability reports based on inventory movements.

  • Using Technology in Inventory Control

    • Automated inventory management systems.
    • Specialized software for tracking inventory.
    • Benefits of using electronic inventory tracking systems.

  • Monitoring Optimal Inventory Levels

    • How to determine the minimum inventory level.
    • The importance of maintaining a safety stock.
    • Improving inventory levels to match demand.

  • Improving Stocktaking and Auditing Processes

    • Periodic inventory checks and regular inspections.
    • Organizing the stocktaking process effectively to minimize errors.
    • Analyzing potential reasons for discrepancies between actual and planned inventory.

  • Cost Reduction Strategies in Inventory

    • Managing logistics and storage costs.
    • Negotiating with suppliers to achieve better prices.
    • Optimizing warehouse space utilization.

  • Inventory Control Procedures in Organizations

    • Organizing warehouse operations.
    • Defining responsibilities and delegations within inventory management.
    • Daily control methods for movements and transfers.

  • Inventory Management in Dynamic Work Environments

    • Dealing with sudden changes in demand.
    • Flexibility strategies in inventory management.
    • The role of effective control in maintaining production and supply stability.

  • Inventory Analysis and Decision-Making Tools

    • Tools for inventory evaluation using Key Performance Indicators (KPIs).
    • Making quick and accurate decisions based on inventory analysis.
    • Using advanced analysis tools to reduce inventory-related risks.

Course Date

2025-03-17

2025-06-16

2025-09-15

2025-12-15

Course Cost

Note / Price varies according to the selected city

Members NO. : 1
£4800 / Member
Members NO. : 2 - 3
£3840 / Member
Members NO. : + 3
£2976 / Member

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