Inventory Management & Control Training Course

Course Overview

Learning Objectives

• Analyze the role of inventory in organizational performance, service delivery, and financial results on Day 1.
• Evaluate the components of inventory cost, including holding, ordering, and shortage costs, and their impact on inventory decisions.
• Apply ABC, XYZ, and criticality classification to segment inventory and set differentiated management policies.
• Analyze demand patterns and consumption history to support accurate replenishment decisions.
• Apply replenishment models, including economic order quantity, reorder point, min-max, and periodic review systems, to realistic inventory scenarios.
• Calculate safety stock and reorder points based on demand variability, lead time variability, and service level targets.
• Develop an inventory policy matrix that defines stocking decisions, reorder parameters, and review frequencies for each inventory category.
• Implement effective stock control procedures for receiving, inspection, storage, issuing, transfers, and returns.
• Design cycle counting programs and physical stocktake procedures that improve inventory record accuracy.
• Evaluate inventory valuation methods and their effect on financial reporting and cost control.
• Develop approaches for identifying, preventing, and disposing of slow-moving, obsolete, damaged, and expired stock.
• Design an inventory KPI dashboard and improvement plan for the participant's organization by the end of Day 5.

Who Should Attend

Learning Outcomes

• By the end of the course, participants will be able to:
• Explain how inventory decisions affect service levels, costs, cash flow, and operational continuity.
• Identify and estimate the main costs associated with holding, ordering, and running out of stock.
• Classify inventory items using ABC, XYZ, and criticality analysis and assign appropriate control levels.
• Analyze consumption data to identify demand patterns and support replenishment planning.
• Calculate economic order quantities, reorder points, and min-max levels for selected items.
• Determine safety stock levels that reflect demand and lead time variability and target service levels.
• Build an inventory policy matrix that guides consistent stocking and replenishment decisions.
• Apply sound procedures for receiving, storage, issuing, and returns that protect stock accuracy.
• Plan and conduct cycle counts and physical stocktakes and investigate and resolve variances.
• Identify slow-moving, obsolete, and expired stock and recommend prevention and disposal actions.
• Recognize control weaknesses and apply internal controls to reduce inventory losses.
• Monitor inventory performance using key indicators such as inventory turnover, days on hand, fill rate, stockout rate, and record accuracy.

Course Outline