Materials and Stock Control

SUITABLE FOR:

Those involved in, or responsible for managing materials, stores, warehouses or in stock control operations in large or small/ medium size organisations. It will also benefit to those involved in other aspects of the supply chain enabling them to broaden their knowledge and enhance career potential.

OBJECTIVES:

By the end of the course delegates will have:

• Been introduced to and examined concepts and practices involved in the management of materials and control of stocks
• Discussed the process involved in managing materials
• Analysed concepts of stock control
• Examine methods of storing and controlling stock
• Developed views and perception in respect of improving the management of materials
• Considered issues concerning the management of resources

SUMMARY:

Day One

• Introduction, Aims and Objectives Processes, outcomes, etc.
• Concepts of Materials Management
• Concepts of Stock Control
• Approaches and philosophies
• Example of Best Practice
• Case Study
• Exercise

Day Two

• What is planning and control
• Practice of Stock Control, Types of stock
• EOQ, Buffer Stock, ABC System, EBQ, Re-order levels, Cycle Stock, Pipeline Stock
• Material Classification and Coding
• Storage Systems Design
• Case Study
• Inventory costs

Day Three

• Methods of planning and control
• MRP (Materials Requirements Planning)
• JIT (Just-In-Time)
• Controlling the operation (Push and Pull Control)
• Valuation of Stock
• Methods of Stock Valuation
  • LIFO (Last-In-First-Out)
  • FIFO (First-In-First-Out)
  • Weighted Average
• TQM

Day Four

• Human Aspect
• Motivation and management of people
• Leadership and leadership styles
• Team working / Belbin’s Team Roles
• Training and developing personnel
• Exercise

Day Five

• Benchmarking
• Types of Benchmarking
• Approaches to Improvement
• Health and Safety