By the end of the course delegates will have:
Been introduced to and examined concepts and practices involved in the management of materials and control of stocks
Discussed the process involved in managing materials
Analysed concepts of stock control
Examine methods of storing and controlling stock
Developed views and perception in respect of improving the management of materials
Considered issues concerning the management of resources
This 5-day course includes lectures, interactive workshops, and case studies. Key topics include inventory classification, demand forecasting, reorder point calculations, and inventory performance metrics. Practical exercises ensure participants can apply concepts effectively in real-world scenarios.
Day One
Introduction, Aims and Objectives Processes, outcomes, etc.
Concepts of Materials Management
Concepts of Stock Control
Approaches and philosophies
Example of Best Practice
Case Study
Exercise
Day Two
What is planning and control
Practice of Stock Control, Types of stock
EOQ, Buffer Stock, ABC System, EBQ, Re-order levels, Cycle Stock, Pipeline Stock
Material Classification and Coding
Storage Systems Design
Case Study
Inventory costs
Day Three
Methods of planning and control
MRP (Materials Requirements Planning)
JIT (Just-In-Time)
Controlling the operation (Push and Pull Control)
Valuation of Stock
Methods of Stock Valuation
LIFO (Last-In-First-Out)
FIFO (First-In-First-Out)
Weighted Average
TQM
Day Four
Human Aspect
Motivation and management of people
Leadership and leadership styles
Team working / Belbin’s Team Roles
Training and developing personnel
Exercise
Day Five
Benchmarking
Types of Benchmarking
Approaches to Improvement
Health and Safety
