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Practical Inventory and Warehouse Management

OVERVIEW

About This Programme

Managing inventory effectively is crucial to the financial health of any organization. Both overstocking and understocking can lead to significant financial losses, including costs related to obsolete stock and theft. Poor inventory management can also impact customer service levels. 

This two-day course provides a comprehensive exploration of inventory and warehouse management, covering critical aspects from warehouse design and operations to forecasting requirements and developing an effective inventory management plan. Participants will gain valuable insights into tracking inventory, minimising costs, and enhancing efficiency within their warehouse operations.

Optimise inventory levels with tailored management strategies

Optimise inventory levels with tailored management strategies

Design and oversee warehouse operations to boost efficiency

Design and oversee warehouse operations to boost efficiency

Increase accuracy and reduce variability in inventory systems

Increase accuracy and reduce variability in inventory systems

what to expect

Programme Outline & Learning Outcomes

  1. Introduction to Inventory and Warehouse Management
    o Overview of the Supply Chain Evolution
    o Importance of Effective Inventory Management
    o Key Concepts and Definitions
  2. Warehouse and Inventory Operations
    o Warehouse Design and Layout
    o Receiving, Storing, and Issuing Inventory
    o Tracking and Monitoring Inventory Movements
  3. Managing and Forecasting Inventory
    o Inventory Turnover and Replenishment Strategies
    o Demand Forecasting Techniques
    o Lead Time Management
  4. Inventory Planning
    o Developing an Inventory Management Plan
    o Safety Stock and Reorder Points
    o Reducing Parts Variety and Standardization
  5. Warehouse Planning
    o Capacity Planning and Space Utilization
    o Equipment and Technology in Warehouse Operations
    o Health and Safety Considerations
  1. Understand the financial impacts of inventory management and the risks associated with over and understocking.
  2. Manage inventory effectively, including lead time management, demand planning, and interfacing with other functional groups involved in inventory operations.
  3. Appreciate the importance of effective warehouse management in reducing costs associated with storing, moving, and transporting goods.
  4. Reconcile physical count balances with system records to ensure accuracy.
  5. Ensure efficient, precise, and timely issuance of the right quality and quantity of stock to intended users.

key details

Who is this programme for

This course is ideal for managers, executives, and officers involved in:

  • Materials Management
  • Stock Control
  • Warehouse and Logistics
  • Inventory Management
  • Internal Auditing
  • Product Specialization
  • Stock-taking and Assessments

Anyone responsible for planning, organising, controlling, managing, and supervising inventory, materials, and stockholding within an organisation will benefit from this course.

A certificate of attendance will be issued to participants who have attended and completed the programme.

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FEES (inclusive of gst)

SGD $1,360

trainers

Our Resident Coaches

Michael Ong

Michael Ong

  • Accessibility consultant at SG Enable
  • Principal Industry Training Officer at NTUC  

Need help to get started?

Reach out to our Executive Development Office at 65807593 or edo@lsbf.edu.sg.