Training Course: Stopping Losses Before They Happen in Stores and Purchasing
1Summary
A shipment that sits in the wrong bin, a purchase order nobody tracked, a stocktake that never quite adds up — none of these look like a crisis on their own, but together they quietly drain an organization's budget every single month. Fixing that is the whole point of this course.
The Arab British Fellowship Training Academy built this program around the everyday reality of running stores and purchasing operations: securing what the organization needs, planning for it, storing it, controlling it, and putting it to work in line with organizational goals, all while making the best possible use of the resources on hand.
2Objectives and target group
Who Should Attend?
- Managers and directors of companies and organizations.
- Staff responsible for stores and procurement management.
- Accountants and finance staff involved in inventory and purchasing.
- Graduates and anyone looking to build a career in this field.
Knowledge and Benefits:
By the end of the course, participants will be able to:
- Spot the gaps that usually cause waste in stores and purchasing, and close them with modern supervision methods.
- Understand the concept and importance of store management, and its administrative organization.
- Plan inventory and set appropriate stock levels.
- Monitor the movement of items with a high degree of accuracy.
- Take part effectively in stocktaking operations.
- Write clear, efficient reports on inventory and store management.
3Course Content
Module 1: Where the Waste Actually Comes From
- Factors that determine how effective inventory supervision really is.
- Why the accounting system matters for supervising stores and purchasing.
Module 2: What Store and Procurement Management Covers
- Scope and importance of the procurement and store management function.
- How store management fits within the wider organization.
Module 3: Planning Ahead — Purchasing and Storage Strategy
- Planning procedures for purchasing operations, and purchasing's role in the organization's overall planning.
- Developing and executing purchasing plans.
- Sources of strategy, timing, price, and quantity in purchasing.
Module 4: Matching Purchasing Strategy to the Product
- Linking purchasing decisions to the product life cycle.
- Cost and risk strategies in procurement.
Module 5: Receiving and Handling Goods
- Receiving and inspecting goods, and processing invoices.
- Handling returns, damages, and related documentation.
Module 6: Getting the Stocktake Right
- Tools and requirements for conducting a stocktake.
- Dealing with shortages and surpluses uncovered during a stocktake.
Module 7: Reading Store and Purchasing Data Financially
- Translating the accounting data generated by store and purchasing operations.
- Connecting that data to broader financial decisions.
Module 8: Organizing the Financial System Around Stores
- Principles for improving the organization's financial system.
- Short-term financial transaction models, and long-term financial organization.
Module 9: Judging Whether the Financial System Is Working
- Interpreting the balance and efficiency of the financial system's work.
- Estimating overall efficiency and effectiveness.
- Analyzing the financial performance of long-term investment.
Module 10: The Paper Trail — Financial Documentation
- The paperwork the financial system generates.
- Other explanatory financial documents relevant to stores and purchasing.
Module 11: Keeping Cash Flow Under Control
- Identifying financial requirements and organizing cash flow.
- Interpreting indicators of actual implementation.
Module 12: Budgets as a Supervisory Tool
- Estimating financial information and organizational budgets.
- Using budgets as a tool for supervision and organization.
Module 13: Practical Application
- Working through practical case models covering store organization, accounting, and procurement supervision end to end.