Workforce Training Consortium

(315.000)

Course Title: Fundamentals of Inventory Management and Control

Prerequisites: None

Course Length and Maximum Class Size:

18 Classroom hours held in (6) 3-hour session. Maximum class size is 25.

Objective:

To equip participants with the fundamental tools and techniques needed to analyze and control inventory - from cost-cutting techniques to day-to-day management to the latest developments in inventory handling, including managing total inventories and materials management.

Content:

  1. Purchasing, planning, managing, and controlling inventories and materials
  2. Evaluating inventory methods, making improvements to current systems, and determining optimum inventory levels
  3. Designing and implementing cycle-counting programs and analyzing replenishment policies
  4. Calculating optimal order quantities for such special cases as quantity discounts and price increases
  5. Locating minimum-total-cost point, controlling inventory loss, and determining ideal safety stock levels

Beneficial to:    Managers, team leaders, and team members.