Training on Effective Inventory Planning and Stock Control

Effective inventory planning and stock control are essential for maintaining smooth supply chain operations, minimizing costs, and ensuring product availability. Poor inventory management can lead to stock shortages, overstocking, financial losses, and operational inefficiencies.

This 5-day training course equips participants with practical skills and techniques to plan, monitor, and control inventory effectively. The program focuses on demand forecasting, stock level optimization, and the development of structured inventory control systems that support efficient supply chain operations.

Participants will explore key concepts such as inventory classification, reorder point systems, safety stock planning, and demand management strategies. The course also introduces modern tools and technologies used in inventory and warehouse management systems to improve tracking, reporting, and decision-making.

In addition, the training addresses cost control strategies, inventory performance metrics, and approaches to reducing waste, shrinkage, and excess stock. Through case studies, group exercises, and real-world examples, participants will gain hands-on experience applying inventory management techniques to practical scenarios.

By the end of the course, participants will be able to design effective inventory planning strategies, maintain optimal stock levels, and improve operational efficiency across warehouse and supply chain operations.

Duration

 5 Days

Who Should Attend

• Procurement and Supply Chain Professionals
• Warehouse and Store Managers
• Logistics and Operations Managers
• Finance and Audit Officers involved in stock management
• Entrepreneurs and Business Owners managing inventory

Organizational Impact

• Optimize inventory to reduce holding and stockout costs

• Improve accuracy of stock records and reporting

• Enhance supply chain efficiency and customer satisfaction

• Minimize wastage, pilferage, and excess stock

Personal Impact

• Gain practical skills in inventory control and stock planning

• Learn forecasting and demand planning methods

• Enhance decision-making using stock management tools

• Improve professional competence in supply chain roles

By the end of the training, participants will be able to:

• Apply principles of effective inventory management.

• Develop demand forecasts for better stock planning.

• Implement stock control systems to balance supply and demand.

• Analyze costs associated with inventory and stockholding.

• Utilize modern inventory management tools and technologies.

Module 1: Fundamentals of Inventory & Stock Control

• Role of inventory in supply chains

• Types of inventory and classification methods (ABC, VED, FSN)

• Case Study: Mismanagement of stock in a retail chain

Module 2: Forecasting & Demand Planning

• Techniques of demand forecasting

• Seasonal demand and trend analysis

• Case Study: Demand forecasting errors in FMCG sector

Module 3: Inventory Control Systems & Techniques

• Economic Order Quantity (EOQ) and Reorder Point (ROP) models

• Just-in-Time (JIT) inventory systems

• Case Study: Toyota’s JIT inventory approach

Module 4: Warehouse & Stock Monitoring

• Warehouse layout and stock tracking methods

• Barcode, RFID, and ERP-based inventory systems

• Case Study: RFID adoption in logistics firms

Module 5: Cost Control & Performance Measurement

• Carrying costs, stockouts, and obsolescence

• Key Performance Indicators (KPIs) in inventory management

• Case Study: Cost optimization in pharmaceutical stock management