Course Objectives.

• Plan and control stock successfully and cost effectively using proven techniques of inventory management.
• Forecast demand and control lead time.
• Classify, count and reduce inventory.
• Reduce inventory investment and surplus
• Use the right key performance indicators for the measurement and evaluation of the inventory department. 

Course Outline:

• Introduction to Inventory Management
  • Objectives and Responsibilities of Inventory Management
  • Customer Service in Inventory Management
  • Inventory Management in the Arab World

• Description and Classification of Inventory
  • Types of Inventory
  • The ABC Inventory Classification
  • Materials Specifications/ Cataloguing
• Forecasting Demand and Lead Time
  • Techniques of Forecasting

• Seasonal Demand
• Moving Average
• Exponential Smoothing
  • Control of Lead Time

• Inventory Systems
  • Inventory Costs
  • The Max-Min System
  • When and How Much to Order
  • Controlling Safety Stocks
  • How to Deal with Quantity Discounts
• Counting and Controlling Inventory
  • Counting Methods and Accuracy
  • Periodic and Cycle Counting
• Reducing Inventory Investment
  • Identification and Disposal of Surplus
  • Just-In-Time (J.I.T.) Method
• Measuring Inventory Management Performance
  •  Key Performance Indicators (KPIs) and Targets

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