Certified Inventory and Planning Management

Start Date End Date Venue Fees (US $)
26 Oct 2025 Muscat, Oman $ 4,500 Register
09 Nov 2025 Tunisia $ 4,500 Register

Certified Inventory and Planning Management

Introduction

Inventory planning refers to the process that any organization adopts to determine the optimal quantity as well as timing, with the sole aim of aligning such plans with the organization’s capacity to produce and make sales. Inventory planning usually affects the company in a number of ways. The efficient management of inventories, accumulated in any part of the supply chain, is an essential part of the reduction of an enterprise’s working capital requirements.

Inventory decisions are high-risk and high-impact from the perspective of logistics operations. Just as shortages can disrupt planned marketing and manufacturing operations, overstocked inventories also create problems. This workshop will allow participants to call attention to better inventory planning and control, as a key to a company’s achievement of its goals and objectives.

Objectives

    By the end of the course, participants will be able to:

    • List the objectives of inventory management and its impact on cost and customer service
    • Perform proper classification of inventory and use best practices for item specification/cataloging
    • Use forecasting techniques to predict demand and better manage lead times
    • Identify the optimum ordering quantity and determine safety stocks and reorder points
    • Conduct cycle counts, improve inventory record accuracy, and find ways to reduce inventories
    • List various techniques to reduce inventory, including JIT (Just-In-Time)
    • Apply Key Performance Indicators (KPIs) to measure and improve inventory performance 

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practice. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

This course is for those involved in inventory (materials) planning and stock control at the operational and supervisory levels. Also, those working in other functions of materials management (purchasing, stores, and distribution) who need to understand the mechanics of inventory planning and stock control.

Course Outline

Day 1: Introduction to Inventory Management

  • Objectives of Inventory Management
  • Reasons to Hold Inventory
  • Inventory Information System Considerations
  • Identifying Inventory Costs
  • Customer Service in Inventory Management

Day 2: Description AND Classification of Inventory

  • Types of Inventory
  • The ABC Inventory Classification
  • Uses of the ABC Ranking
  • Materials Specifications/Cataloguing

Day 3: Forecasting Demand and Lead Time

  • Dependent versus Independent Demand
  • Factors Affecting Demand
  • Factors Impacting Forecast Accuracy
  • Time-Series Forecasting Methods:
  • Moving Average
  • Exponential Smoothing
  • Seasonal Demand
  • Lead Time Management

Day 4: Inventory Systems

  • Inventory Holding and Ordering Costs
  • The Economic Order Quantity Model
  • Dealing with Quantity Discounts
  • Objectives of Safety Stocks
  • Setting Safety Stocks
  • Determining the Reorder Point

Day 5: Counting and Controlling Inventory

  • Causes of Inaccurate Inventory
  • Requirements for Accurate Inventory Records
  • Reporting Record Accuracy
  • Periodic and Cycle Counting

Reducing Inventory Investment

  • Identification and Disposal of Surplus
  • Just-In-Time (J.I.T.) Method

Measuring Inventory Management Performance

  • Reasons for Poor Inventory Management
  • Key Performance Indicators and Targets
  • Qualities of the Inventory Specialist

Accreditation

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