An inventory record that's off by even a small percentage rarely stays a small problem. It shows up as a stockout that loses a sale, a rush order that costs triple the normal price, or a customer who waits longer than promised and doesn't come back. Accurate inventory control isn't a paperwork exercise — it's one of the clearest links between day-to-day operations and the bottom line.

This course looks at inventory accuracy from both sides: what causes the errors, and what they actually cost the organization in cash flow, service levels, and reputation. Participants work through the classification, policies, and cost structures behind inventory decisions, and leave with concrete techniques — cycle counting, better demand forecasting, and smarter use of technology — for keeping the numbers right.

Who Should Attend?

• Supply chain, procurement, and inventory managers.
• Warehouse managers and store supervisors.
• Staff involved in contract organization and direct supply chain responsibilities.
• Cost managers and financial analysts tracking inventory's financial impact.

What You Will Gain

• Understand the real financial and service-level consequences of inventory inaccuracy.
• Identify the most common causes of discrepancies: human, technical, and procedural.
• Apply cycle counting and audit techniques that keep records reliable.
• Use classification methods such as ABC analysis to focus control effort where it matters most.
• Choose the right inventory policy for a given demand pattern.
• Calculate and manage the different cost categories tied to inventory decisions.

Module 1: Why Inventory Accuracy Is a Business Problem

• Inventory control basics: definitions, types, and its role in the supply chain.
• How inaccurate records translate into financial loss and poor customer service.
• What "success" in inventory control actually looks like.

Module 2: Where the Errors Come From

• Common causes: human error, technology failures, and procedural gaps.
• Demand estimation and forecasting methods, including material requirements planning.
• Maintaining the inventory record file and bill of materials correctly.

Module 3: Classifying and Costing Inventory

• ABC (three-way) analysis by value, operational continuity, volume, and turnover speed.
• Where each classification method is most useful.
• The full cost picture: ordering, holding, stockout, expediting, and administrative costs.

Module 4: Inventory Policies and Reducing the Need to Hold Stock

• Reorder point, periodic review, and hybrid policies, and how to choose between them.
• Using contracts (blanket orders, supplier-held stock, frequent delivery) to cut inventory levels.
• Setting order quantities, maximum and minimum levels, and safety stock.

Module 5: Keeping Control Over Time

• Physical counting and reconciliation.
• Identifying and clearing dead stock: causes and disposal methods.
• Applying the theory of constraints to inventory management.