This course focuses on all significant aspects of inventory planning, stock control, and cost management, emphasizing demand planning as a tool for reducing product obsolescence, the latest inventory management methods for managing heterogeneity, and best practices strategies. This course develops advanced skills in achieving optimal inventory level while providing an efficient and effective service to your customers.
Module 1: Inventory Management Overview.
- Understand the Importance of Inventory Management.
- Recognize the Common Issues in Inventory Management.
- Comprehend the Flow of Inventory in present-day Supply Chain.
- Explore the Role of Finance & Cost Management in Inventory Management.
- Understand the Importance of Customer Service in Inventory Management.
Module 2: Demand Planning & Forecasting.
- Explore the Types of Demand and Factors Influencing Demand.
- Understand the Factors Affecting Demand Forecast Accuracy and Measurement.
- Understand the Inventory Order Cycle and Demand Patterns.
- Understand the Supply Lead Time on Forecasting Process.
- Learn the Forecasting Methods (Seasonal demand, Moving average, Exponential smoothing, etc.)
Module 3: Tools and Techniques in Stock Management.
- Establish the Standard Procedure in Stock Movement.
- Learn Types of Inventory Techniques (JIT, MOQ, EOQ, FIFO, etc.) and Coding Methods.
- Establish Stock-Checking, Turnover Rate, and Determine the Reorder Point (ROP).
- Manage Stock Discrepancies & Reconciliation.
- Run Analysis on Excess or Obsolete Stock.
Module 4: Inventory Management Best Practices.
- Establish your Inventory KPIs and Target Setting.
- Develop Lean and Agile Approaches in Inventory Control.
- Learn various Methods in Inventory Reduction.
- Implement Periodic & Continuous Review Systems.
- Explore Automation in Inventory Management (Real-time Tracking, Optimization Software, Cloud-based, etc.)
- Instruction by an expert facilitator
- Practical illustrations
- Interactive classes
- Group discussions
- Case studies
Open Course Enrollment Details
Dates & Location
The CLPD Experience
Joining a CLPD class means getting an access to numerous unique advantages that only our center can provide in Cambodia:
- State of the art training facilities with modern lecture halls and equipment
- Expert Western instructors with decades of experience in senior positions. 100% of them hold a post-graduate degree.
- International quality standards at every step, from the curriculum creation to the delivery and follow-up
- Certificates of completion recognized by the American University of Phnom Penh and valued by employers
Want More Information?
Check our Course Outlines (PDF) here: Inventory Planning and Management (Best Practices)
You can also contact us at:
Phone: 011 21 21 44 / 023 990 023