Every unit sitting too long in inventory is money not working for the business - and every stockout is a sale or a production run lost. The techniques in this course exist for exactly that reason: to help materials and inventory teams strike the balance between having enough and having too much.

Participants build a full toolkit - EOQ, JIT, ABC analysis, reorder points and safety stock, MRP, and inventory valuation - then apply it to real warehouse and materials-handling operations, including the technology (barcode, RFID, ERP, IoT) that makes modern inventory control possible.

Objectives

• Understand the basic principles of inventory control and materials management.
• Apply EOQ, JIT, and ABC analysis to optimize stock levels.
• Calculate reorder points and set safety stock levels.
• Use Materials Requirements Planning (MRP) to plan and schedule materials.
• Apply inventory valuation methods (FIFO, LIFO, weighted average) and understand their financial impact.
• Implement best practices and technology for warehouse and materials handling.
• Reduce carrying, ordering, and stock-out costs while balancing investment and demand.
• Measure inventory performance with KPIs and apply continuous improvement.
• Explore the role of ERP, IoT, and AI in modern inventory control.

Target Audience

• Inventory control specialists.
• Materials and warehouse managers.
• Supply chain managers.
• Procurement managers.
• Students and graduates in logistics or business administration.

Module 1: Inventory Control and Materials Management Basics

• Overview and importance in the supply chain
• Types of inventory and inventory management systems

Module 2: Core Inventory Techniques

• Economic Order Quantity (EOQ) and Just-in-Time (JIT)
• ABC analysis for inventory categorization

Module 3: Reorder Points, Safety Stock and MRP

• Calculating reorder points and safety stock levels
• Materials Requirements Planning (MRP) for scheduling

Module 4: Inventory Valuation

• FIFO, LIFO, and weighted average methods
• Impact on financial reporting and decisions

Module 5: Warehouse and Materials Handling

• Best practices for storage and handling
• Technology: barcode scanning and RFID

Module 6: Cost Reduction and Performance

• Minimizing carrying, ordering, and stock-out costs
• KPIs and continuous improvement in inventory processes

Module 7: Technology and What's Next

• Role of ERP systems in inventory control
• Emerging technologies: IoT and AI for optimization