Very good course and would highly recommend. Will send others from my organisation. Michael Plant | Ungerer Ltd

Effective Stock Control

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A two day course

Intended for personnel concerned with the control of stocks in retail, manufacturing, distribution or service environments. Material planners, analysts, buyers, production controllers, stores and warehouse personnel and manufacturing managers, will all benefit from the content of this course.

Some experience within the stock control function is desirable but not essential.

Outcomes

To demonstrate the importance of effective stock control to any business and its influence on service levels, working capital, cash flow, liquidity, efficiency, and profitability. To examine in depth the theories behind a wide range of stock control techniques available and their practical application in the workplace.

To provide a better understanding and appreciation of computer systems (MRP/ERP) and the processing of data. Equally provide an insight into the power of MS Excel for the same purpose by the use of simple workbooks. Attendees will be provided with an Excel spreadsheet containing the formulas, calculations and worked examples upon completion of the course. Expertise in Excel is not necessary.

Please see course content below or  click 'Download Course Details'  for a  PDF of the course information.

Fee | £695.00 + VAT

Fee includes all tuition, comprehensive course notes and information hand-outs, morning and afternoon refreshments and lunch.

Dates | Two day course

Next course :

Tuesday 30th and Wednesday 31st January 2018

Venue:

Doncaster Racecourse Exhibition and Conference Centre, Leger Way, Doncaster DN2 6BB

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Course Content

Basic Prerequisites

Security of Stock / Accurate Stock Records / Difference Between Stock Recording and Stock Control / Reasons for Holding Stock.

Financial Considerations

The Effect of Stock Control on Working Capital / Cash Flow / Return on Investment / Liquidity / Profitability / Stock Turnover / KPI’s / Concept of Stock as a Non-Productive Asset.

Costs

Stockholding Cost / Cost of Money / Running Costs / Wastage / Insurance / Administration / Total / Ordering Costs.

When to Order

Service Levels / Standard Deviations / Safety Stock Levels / Service Levels / Principal of Diminishing Returns / Re-Order Levels.

How Much To Order

Full explanation and understanding of the formula for Economic Order Quantity (EOQ) / Practical Application / Lot Sizing / Minimum Order Quantities (MOQ’s) / Pack Sizes.

Forecasting Future Demands

Demand patterns / Trends / Seasonal Variations and Ratios / Random Fluctuations / Sporadic Demands / Mixed Demands / Averages / Moving Averages / Weighted Averages / Exponential Smoothing & Formula / Tracking.

Systems of Stock Control

ABC Analysis / Quantity Based Systems / Time Based Systems / Differential Stock Control / Consignment Stock / Vendor Managed Inventory / Kanban.

MRP/ERP

Time Phasing / Explosion Routines / Schedule Regeneration / Just-in-Time / Zero Defects.

Stocktaking

Importance / Continuous Stocktaking (Cycle Counting) / Periodic Stocktaking / Choice of System / Treatment of Discrepancies.

Surplus, Obsolete and Redundant Stocks

‘SLOB’ Stocks / Identification / Causes / Control and Reduction / Disposal Options.

We provide training to large, medium and small organisations in both the public and private sector.

  • BAE Systems
  • Everest
  • Eurotunnel
  • Nestle
  • Met Office
  • Mitsubishi
  • Quorn
  • Toyota
  • Unipart Rail
  • Virgin Trains