Online Live Certificate Course on "Material, Inventory and Warehouse / Store Management" (4 Days Evening)

Last Date of Registration: August 5, 2020
Venue Online Google Meet Software

Overview of training:

Material Management is a scientific technique, concerned with Planning, Organizing &Control of flow of Materials, from their initial purchase to destination. In the earlier years, Materials Management was treated as a Cost Centre, since Purchasing Department was spending money on materials while Store was holding huge inventory of materials, blocking money and space. Subsequently with the process of liberalization and opening up of global economy, there has been a drastic change in the business environment, resulting in manufacturing organizations exposed to intense competition in the market place. Manufacturers worldwide have been working out various strategies to face the above challenges and to cut down manufacturing costs to remain competitive.

Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by an enterprise. An organization's Inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection.

On the other hand, Warehouse/Store is an establishment that stocks goods for sale to customers/ consumers or gathers materials for the purpose of using as an input for production processes. Enterprises build stores to ensure a balanced flow of materials in order to keep the business running. Effective Warehouse/Store Management is a key part of the supply chain and primarily aims to control the movement and storage of materials within a Store/Warehouse and process the associated transactions, including shipping, receiving, put-away and picking.

The multi-disciplinary competencies and capabilities of effective Material, Inventory and Store Management give enterprises a competitive advantage to succeed in today’s competitive environment.

Material, Inventory and Store Management is an important management tool which will be very useful in getting the right quality & right quantity of materials at right time, and having good Inventory control. Please keep in mind, “It’s easy to turn cash into inventory, but the challenge is to turn inventory into cash”. Please combat this challenge and learn Material, Inventory and Store Management and contribute to your organization you work or you own.



Contents of training:

Day:1

1. Introduction to program & learning objective
2. Definition and aim of Material Management
3. Objective of Material Management
4. Types of Materials, Component and Spares
5. Demand Management and Related Issues
6. Ways of Demand Forecasting
7. Bill of Material (BOM)
8. Materials Requirement Planning
9. Distribution Management Planning
10. Question-Answer Session
11. Wrap-up of the Day

Day:2

1. Introduction to inventory and related issues
2. Material Management- Operation Planning and Control
3. Material Management- Strategy to Meet Development
4. Task and Responsibilities of Material Handling Manager
5. Material Handling Systems and Components
6. Make or Buy Decision
7. Overview of Procurement Process
8. Specifying Requirement
9. Analyze Supply Market and Supply Strategy
10. Select Suppliers
11. Bidding and Negotiation Process
12. Contract Management
13. Question-Answer Session
14. Wrap-up of the Session

Day:3

1. Introduction to program & learning objective
2. Material Purchase- Profit Leverage
3. Inventory Definition and Related Issues
4. Reasons behind Inventory
5. Types and Stages of Inventory
6. What is Effective Inventory Management?
7. Working Capital Cycle and Inventory
8. Inventory and Lead-time Management
9. How to improve lead-time and overall efficiency in SCM:
10. Inventory Hides Underlying Problems
11. JIT Inventory
12. Inventory Planning- Categorization
13. Where in Supply Chain and How Much Inventory to Keep
14. Question-Answer Session
15. Wrap-up of the Session

Day: 4

1. Introduction to program & learning objective
2. Inventory Planning-Stock Taking/Stock Counting
3. Inventory Turnover
4. Receipt and Issues of Inventory
5. Inventory Coding System
6. Inventory Replenishing System
7. Economic Order Quantity
8. Safety Stock Calculation
9. Warehouse and Related Issues
10. Warehouse Location and Layout
11. Safety in Material Handling
12. Safety at Warehouse/Store
13. Question-Answer Session
14. Wrap-up of the Session

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