Training Course on Inventory Management and Purchasing Skills
This intensive training course covers the skills required to lead procurement and inventory teams to world class performance by running organizations leaner, effectively and efficiently. The pressure to reduce costs, while maintaining customer service levels is essential in both procurement and inventory management. It focuses on the ‘gaps’ in performance to be filled in order to provide the continuous improvements needed to meet strategic objectives.
Procurement and inventory are two of the least understood areas of business in many organisations, but are essential for good business results. Adopting sound procurement and inventory management principles will lead to better return on investment, improved quality, lower costs, and reduced working capital.
Duration
10 Days
Who Should Attend?
This training course is for Professionals and Staff in organization that are responsible for improving quality, reducing costs, increasing productivity, raising inventory turns and enhancing customer service through better purchasing and inventory management.
Course Objectives
At the end of the course, participants will be able to:
- Develop strategic purchasing plans & discuss how to improve internal customer service
- Explore many ways of reporting key performance indicators (KPIs)
- Understand the most important competencies for purchasing personnel
- Understand the importance of inventory & the role it plays in the profitability of the company
- Apply best methods to optimize the investment in inventory
Course Content
Module 1: The Complete Course on Purchasing Management
Day One: The 1st Steps to Becoming World Class
- Stages to World Class Purchasing
- How Purchasing is viewed today
- Strategic Sourcing
- Developing Spend Profiles and the ABC Analysis
- New Job Descriptions for Purchasing of the future
- Purchasing Personnel Required Skill Sets
Day Two: Evaluating Your Own Operation
- What are Best Practices
- Purchasing Gap Analysis
- Vision and Mission for Purchasing
- Developing the Purchasing Department Strategic Plan
- Developing Key Performance Indicators (KPIs) For Procurement
- Developing A Company Purchase Price Index
Day Three: Continuous Improvement and How to Get It
- Cost Reduction Initiatives
- Methods of Cost Containment
- Waste in The Supply Chain
- Breaking Down the Elements of Supplier Cost
- Commodity/Service Strategic Planning
- Resisting Price Increases
Day Four: Supplier Management Approaches
- Supplier Classification System
- Supplier Qualification Methods
- Supplier Performance Metrics
- Apply Performance criteria to Purchasing Decisions
- Process Mapping to Eliminate Low Value Activities
- Applying eProcurement business process
Day Five: Improving the Image of Procurement
- Global Sourcing
- International Labor Rates Comparison
- Developing and Maintaining a Customer Focus
- Basic Issues in Corruption and Fraud Prevention
- Increasing the Level of Procurement Professionalism
- Keeping Current in the profession
Module 2: The Complete Course on Inventory Management
Day Six: Inventory in the Value Chain
- The purpose of inventory in the value chain
- Classification of inventory
- Procedure for eliminating obsolete inventory
- Pareto Law in identifying product Classification
- Location of inventory
- Using Economic Order Quantity on managing inventory order levels
Day Seven: Demand Planning
- Basic forecasting methods
- Customer segmentation
- Hierarchy of planning
- Aggregate planning
- Maintenance & Inventory planning meeting
- Master Scheduling
Day Eight: Forecasting
- Principles of forecasting
- Effect of lead time on the forecasting process
- Quantitative forecasting
- Qualitative forecasting
- Tracking forecast accuracy
- ·Determining safety stock
Day Nine: Inventory Recording
- Period stock take
- Cycle counting
- Perpetual recording
- Utilizing Bar-cades to manage inventory and movements
- The use of Radio Frequency Identification (RFID) for recording inventory movement
- Inventory accounting
Day Ten: Performance Measurement
- Stock turnover rate
- Customer service
- Cost of operations
- Measuring the effectiveness of your system
- How to use the measurements
- Class exercise on selective inventory management
CUSTOMIZED TRAINING
This training can also be customized for your institution upon request. You can have it delivered at your preferred location.
COURSE Training Center: Datastat Training Center, Nairobi, Kenya
Fee: Ksh 160000, $1800
Schedules
| Start | End |
|---|---|
| 24/02/2020 | 06/03/2020 |
| 16/03/2020 | 27/03/2020 |
| 06/04/2020 | 17/04/2020 |
HOW TO REGISTER ONLINE
To register online to book your spot, click on the link below:
For further inquiries, please contact us on:
TELEPHONE: +254724527104
EMAIL: [email protected]
WEBSITE: www.datastatresearch.org