Arab British Fellowship Training Academy offers a professional training course on how to minimize stock levels, presenting practical solutions for warehouse, supply chain and inventory managers. Successful inventory management depends on understanding the variables that influence stock levels and the relationships between them, and this course equips participants with sound purchasing and supply management principles to improve maintenance, repair and operations (MRO) inventory.

Throughout the course, participants will explore techniques for stock monitoring, standardization, variety control, avoiding surplus, and service management, along with other control and monitoring methods, enabling them to determine appropriate stocking levels and quantities that protect their organization's invested capital from unnecessary loss.

Target Group for the Course on How to Minimize Stock Levels – Some Practical Solutions:

• Warehouse managers.
• Supply chain, planning, and inventory managers.
• Managers responsible for inventory management.
• Any manager responsible for:
• Determining the specifications of materials and equipment.
• Monitoring, controlling, and disposing of inventory.
• Selecting inventory items and their quantities.
• Planning demand for inventory items.
• Purchasing items to replenish stock.
• Anyone wishing to work with any of the tasks mentioned above, or graduates in fast-growing development fields.

Objectives of the Course on How to Minimize Stock Levels – Some Practical Solutions:

• Defining inventory-related terms and how they relate to one another.
• Identifying the factors that determine stock levels.
• Applying different methods to measure the performance of factors affecting inventory.
• Determining the timing and tactics needed to improve stock levels.
• Enabling participants to assess their company's position with respect to each inventory factor.
• Considering the shared responsibility for those factors within the company.
• Developing an action plan aimed at reducing stock levels in participants' companies.

• Fundamentals of inventory management
• Definition of inventory and its types
• The importance of inventory in the supply chain
• Success criteria for the supply chain
• Reasons for holding inventory
• The concept of inventory control
• The impact of inventory control on the financial manager
• Inventory control system
• International trade terms
• Standardization.
• Variety control.
• Avoiding surplus.
• Costs associated with inventory
• Ordering costs
• Holding (carrying) costs
• Stockout costs
• Expediting costs
• Administrative costs
• Determining stock levels
• Determining order quantity
• Determining the maximum stock level
• Determining the reorder point
• Determining the minimum stock level (safety stock)
• Inventory counting
• Criteria for considering an item as dead/slow-moving stock
• Causes of dead stock
• Methods and procedures for disposing of dead stock
• Theory of Constraints in inventory
• Service management.
• Control and monitoring techniques.
• Practical case studies

Course delivery style:

• In-house training.
• Individual training.
• Group training.
• Practical training.

Note:

• We can offer this course at the time and place that suits you.
• This course is offered to high standards for important individuals. For more information, contact the Arab British Fellowship Training Academy team.