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.
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 the wide range of stock control techniques available and their practical application in the workplace.
To provide a better understanding and appreciation of stock control computer systems (MRP/ERP) and the way in which data is processed. Equally provide an insight into how stock control formulae work and the benefits of adjusting them to suit your organisation. Attendees will be provided with an MS 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 includes all tuition, comprehensive course notes and information hand-outs, morning and afternoon refreshments and lunch.
Next course :
Wednesday 10th and Thursday 11th October 2018
Doncaster Racecourse Exhibition and Conference Centre, Leger Way, Doncaster DN2 6BB
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Security of Stock / Accurate Stock Records / Difference Between Stock Recording and Stock Control / Reasons for Holding Stock.
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.
Cost of Money / Operating Costs / Shrinkage and Wastage / Insurance / Administration / Loss of Investment Opportunity / Ordering Costs / Controlling & Reducing Stockholding Costs.
Service Levels / Standard Deviations / Safety Stock Levels / Service Levels / Principal of Diminishing Returns / Re-Order Levels.
Full explanation and understanding of the formula for Economic Order Quantity (EOQ) / Practical Application / Lot Sizing / Minimum Order Quantities (MOQ’s) / Pack Sizes.
Demand patterns / Trends / Seasonal Variations and Ratios / Random Fluctuations / Sporadic Demands / Mixed Demands / Averages / Moving Averages / Weighted Averages / Exponential Smoothing & Formula / Tracking.
ABC Analysis / Quantity Based Systems / Time Based Systems / Differential Stock Control / Consignment Stock / Vendor Managed Inventory / Kanban.
Time Phasing / Explosion Routines / Schedule Regeneration / Just-in-Time / Zero Defects.
Importance / Continuous Stocktaking (Cycle Counting) / Periodic Stocktaking / Choice of System / Treatment of Discrepancies.
‘SLOB’ Stocks / Identification / Causes / Control and Reduction / Disposal Options.