Stock Management & Control_PAP04

Overall Course Objective

This course offers a comprehensive coverage of the process and procedures of stock movement from elementary principles and methods to the most sophisticated operations and costing. It aims at providing real solutions to all the problems encountered by most stores staff and will assist those who wish to build a successful career in stock management function. The course is for those who want to understand and implement the essential tools for managing inventory in the supply chain. Participants are shown how to evaluate procedures and make needed changes to methods to improve daily task work whilst achieving reductions in inventory; eliminate wasteful costs; avoid internal problems that limit performance; obtain added value for money

Major Topics

1. Overview of Inventory management & costing
2. Inventory reporting & Cost allocation
3. Inventory transactions analysis (Stock in/out, Adjustment & T-Account)
4. Items, Grouping & inventory coding’
5. Opening balance of Inventory (for existing company)
6. Stock Control spreadsheet
7. Practices with Pivot table, sumif, Vlookup…

Who should attend?

• Those new to managing inventory
• Those non inventory people who need to gain an awareness of the issues and key driversof stock control operations
• Stock, Supply Chain, Logistics, Warehouse and Distribution
• Supervisors/Managers
• Owners, operators and Directors of companies who hold stock and inventory