Course Description

 

By the end of this programme you will be able to:

·          Learn the principles of Warehouse and Inventory Management

·          Evaluate current procedures

·          Examine operations and activities

·          Analyze the key areas of operations

·          Identify and Understand key performance indicators

·          Succeed in improving operations

·          Improve personal productivity

·          Make needed changes to methods to improve customer service whilst achieving reductions in inventory

·          Eliminate wasteful costs

·          Avoid those internal problems that limit performance

·          Obtain added value for money

·          Understand and implement the essential tools for managing warehouses and inventory in the supply chain

 

 

Course Objective

 

 

Training Methodology

Warehouse and Inventory Management consists of nineteen modules containing lecture content, participative discussions, and many case studies to make the training come alive. The supportive comprehensive course manual will enable practical application and reinforcement and ensure back at work applications.

Your master trainer is a former Chief Examiner for the UK Chartered Institute of Purchasing and Supply and an Examiner/Author for the UK Chartered Institute of Logistics and Transport; as well as being the author of the books "Excellence in Warehouse Management” and 'Excellence in Inventory Management.' Additionally we will present many videos showing the latest equipments and ICT applications.

 

Organizational Impact

A legacy of increasing product availability and customer service levels is the ever-increasing requirements to:

·          Examine the link of stock in the company operations and activities

·          Analyze the key areas of warehouse operation

·          Identify and understand key performance indicator

·          Succeed in improving operation

Organizations are much more healthy and productive when they have effective warehouse and inventory operations that provide superior customer service and product availability

 

Personal Impact

·          See how to conduct an analysis of stock

·          Gain from making productivity improvements in all operations

·          Understand how to select and maintain warehouse equipment

·          Conduct safe working practices and operations

·          Apply a framework for continual improvement

·          Gain the financial benefits that effective warehouse and inventory management can bring

·          Understand the role of warehouses and inventory in the supply chain

·          Balancing cost and service requirements

·          Be able to understand, recall and apply improvements after the workshop for work based application

·          Apply best in class practices

Above all, this program will help you internalize superior warehouse, inventory management skills, and put them to work back in your workplace

 

Competencies Emphasized

This workshop aims to enable participants to develop the following competencies:

·          Analyzing costs and lead times

·          Understanding of the link of warehousing and inventory in the supply chain and its interactive components

·          Changing current methods to optimize cost and serve trade offs

·          Improving current methods

·          Sharing different approaches with all stakeholders for mutual gain

·          Discussing, listening and understanding the point of view of others

Who Should attend?

 

 

·         This program is for all individuals who have a stake in the Supply Chain and all Logistics, Materials, Inventory, Stock, Warehouse and Distribution Professionals

·         It will also help those who need to develop their limited understanding about Warehouse and Inventory management

·         It will be especially helpful to all those who are looking to make business gains and benefits and to any owners, operators and directors of companies with warehouse and stores operations and who hold stock and inventory

 

Course Outline

 

 

Part I: Warehouse, Stores and Stock Control Management

 

DAY 1: The Role of the Warehouse

An introduction to why we need a warehouse, what functions do they cover, how do they fit into the supply chain including:

·          The balance between sorting and storing

·          12 initial questions to ask about warehousing activity

Product Classification

It is important to establish key characteristics of the products handled as this have implications for all the warehouse operations. Such characteristics include:

·          Supply /demand variables

·          ABC Analysis or the 80/20 rule

·          Determining product handling groups

·          Throughputs and product formats

Layout Options

In examining all the operations undertaken, the balance has to be found between maximising space usage whilst minimising the time taken to carry out the operations. This involves looking at:

·          Receiving options

·          Storage options

·          Picking/assembly options

·          Despatching options

·          Using the floor and the height space Organising for flow

Methods and Equipment

Here we specifically look at the lifting, storing and moving equipment available for specific layout options, including:

·          Warehouse structures

·          Loading bays

·          Selecting fork lift trucks

·          Selecting racking

·          Implications for warehouse layouts

·          Operational timings and planning

DAY 2: Health and Safety

Warehouses are potentially dangerous areas in which to work, and an overview of the appropriate legalization will be looked at, including:

·          Duty of care

·          Inspections and risk assessments-task analysis

·          Equipment maintenance and care

·          Raising peoples awareness

Security and Loss

This session looks at minimizing internal and external theft, recognizing that, generally internal theft is the major problem. Preventative measures will be briefly discussed.

Productivity and Costs

To make operations efficient and effective, then cost control and productivity need to be managed. This session will therefore look at:

·          Fixed and variable cost

·          Typical costs involved

·          A model for understanding the roles of productivity, utilization, and performance

·          Setting productivity and cost targets

·          The importance of having measurements and key indications of performance

Service Levels

As Warehouses are a link in the total process of satisfying customers, this session will therefore look at:

·          Internal and external customers

·          The three key customer service measure

·          Customer service sampling

·          Effects of substandard service

·          Minimising errors

Stock Coding

The method by which stock is coded is important in the overall management process, this session will examine:

Different methods

Understanding of all involved

Checklists to help on deciding the best option

Stock Recording

This session looks at stock recording, a critical aspect of stock control and if done incorrectly is the source of many subsequent errors.

·          Separation of powers

·          Legal issues

·          How do we get inaccuracies?

Stock Checking

Much time can be spent on this activity, but there are methods to both minimise the time and at the same time increase checking accuracy.This session examines such aspects:

·          Roles and responsibility

·          Requirements

·          Job Descriptions

·          Authority levels

·          Tolerances and approvals

·          The programme

·          Options

·          Reconciliations / discrepancies

Summary

Finally, in linking together all the sessions, we put forward simple overviews and a clear summary, including:

·          The 7 step model for better warehouse management

·          The top 20 warehousing ideals for continuous improvement

Part II: Inventory Management Techniques

 

DAY 3: Inventory and the Supply Chain

·          Inventory management definition

·          Types of stock

·          Demand amplifications

·          Demand replenishment in networks

·          Managing the flows

·          Type I and II supply chains

·          The Supply Chain Rules

·          Inventory and statistics

·          Concept of service level

Inventory Key Concepts

·          Key Component: Demand Analysis

·          Key Component: Demand Forecasting

·          Key Component: Supply Lead Time

·          Key Component: Cost & Benefits

·          Inventory benefits

·          Inventory polices

·          Inventory in organizations

Methods and Equipment

Here we specifically look at the lifting, storing and moving equipment available for specific layout options, including:

·          Warehouse structures

·          Loading bays

·          Selecting fork lift trucks

·          Selecting racking

·          Implications for warehouse layouts

·          Operational timings and planning

Inventory Replenishment Methods and Systems

·          Basic mechanics of inventory systems

·          The stock time curve

·          Stock components

·          Stock investment

·          Free stock

·          Fixed order quantity systems

·          Fixed order time cycle systems

·          Requirements planning systems

Stock Control and Checking

·          Inventory receipts

·          Identifying inventory

·          Surplus and obsolescent stock

·          Stock control and records

·          Stock checking programs

·          Reviewing current procedures and polices

DAY 4

Inventory Performance

·          Inventory Assessment

·          Assessing the stock level

·          Models for implementing inventory control

·          Determining stock targets

·          Inventory questions

·          Inventory KPI's in warehouses/stores

Inventory Strategies

·          Push/pull

·          Quick response (QR)

·          Efficient consumer response (ECR)

·          Collaborative planning forecasting and replenishment (CPFR)

·          Lean and agile approaches

·          Quality Management

·          Postponement

·          Cross Docking

·          Consolidation

·          Vendor Managed Inventory (VMI)

·          Consignment stocking

·          Co Managed Inventory (CMI)

·          Direct product profitability (DPP)

·          Economic value added (EVA)

·          Collaborative supply chains

DAY 5: Inventory Improvements

·          The Supply Chain and the Theory of Constraints

·          Practical inventory improvements

·          Keys to reducing stock levels

·          Rules for planning inventory

·          Model for planning inventory