Don’t allow poor management of inventory, stores and stock control ruin your business. Tying working capital down in inventory is a grievous source of competitive disadvantage.

At NIPM you will be able to develop skills and competencies for tracking your organization’s inventory levels and consistently match demand with supply. Mitigate stock – out risk and meet customer requirements while preventing excess inventory, reducing cost, increasing efficiency and bottomline results.

Achieve balanced scorecard with your material flow. Improve your supply chain performance with Nigerian Institute of Production Management (NIPM) training on integrated inventory, store and stock control management course.

COURSE OVERVIEW:

This NIPM comprehensive course is designed to equip participants with the knowledge and skills necessary to effectively manage inventory, stores, and stock control. Participants will learn how to optimize inventory levels, reduce costs, and improve customer satisfaction.

COURSE OBJECTIVES:

》Understand the principles of inventory management and stock control

》 Develop effective inventory management strategies

》 Improve stock control and reduce costs

》Enhance customer satisfaction and loyalty

》Analyze and interpret inventory data to inform decision-making

COURSE CONTENT:

■ Inventory Management Fundamentals

– Defining inventory management and its importance

– Types of inventory and their characteristics

– Inventory costs and their impact on business

-Inventory Management strategies 

-Demand forecasting techniques 

-Supply chain planning 

■ Inventory Control Systems

    – Periodic review system

    – Continuous review system

    – Hybrid systems

■ Inventory Replenishment Methods

    – Re-order point and re-order level (ROP/ROL)

    – Economic order quantity (EOQ)

    – Just-in-time (JIT) inventory management

■ Stock Control and Coding

    – Stock coding methods

    – Stock classification and categorization

    – Inventory tracking and monitoring

■ Inventory Performance Measurement

    – Inventory turnover ratio

    – Days inventory outstanding (DIO)

    – Inventory accuracy and stock taking procedures

■ Inventory Strategies

    – Vendor-managed inventory (VMI)

    – Co-managed inventory (CMI)

    – Collaborative planning, forecasting, and replenishment (CPFR)

■ Inventory Improvements

    – Identifying and eliminating waste

    – Implementing lean inventory management

    – Using data analytics to optimize inventory

    -Improving demand forecasting 

    -Agile inventory control and management 

TARGET AUDIENCE:

– Procurement/Purchasing professionals

– Inventory/Stock Controllers

– Logistics professionals

– Warehouse and store managers

– Supply chain professionals

COURSE DURATION AND FORMAT:

– Classroom-based: 2 days

– Online: 4 Weeks

CERTIFICATION:

– Participants will receive a certificate upon successful completion of the course

– Completion of training is considered part of the requirements for securing NIPM Certified Inventory Control and Management Professional (CICMP)

CONTACT US TODAY:

Tel./WhatsApp Message:

08069006671, 08023140750.