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Conducting Effective Stock And Inventory Cycle Counting

0 person is attending    0 Views    Supply chain/Logistics    ₦105000   

OBJECTIVE:

Inventory accuracy is a critical sensitive area affecting firms.  Cycle counting can increase inventory accuracy to level of 97% and better while offering significant cost savings when compared to physical inventory counting that the majority of firms currently use.  Inventory record accuracy has a significant impact on increasing level of customer service, reducing costs and increasing productivity. This workshop teaches participants best practice in conducting effective stock and inventory cycle counting.

 

CONTENTS:

*Inventory Costs and Service

- Why hold stock?

- Inventory costs

- Service level from inventory

- Lead time variability and uncertainty

- Inventory and statistics

*Approaches

- Periodic physical inventory

- Cycle counting

- Cost of inaccurate records

- Excess inventory levels

- Lower productivity levels

- Expediting orders

- Lest sales

*Methods of Counting

- Bar –code readers

- Count cards

- Count sheets

*Causes of inventory Accuracy Error

- Bad units of measure

- Theft

- Obsolescence

- Poor security

- Item identification

- Adequate storage space

- Locator system problems

- Timely reporting of transactions

*Executing the Count

- Break up counting into small groups

- Create a map of stocking area

- Stocking area into counting area

 

FOR WHOM: Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

 

Training Methodology

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participants will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.



What you'll learn This workshop teaches participants best practice in conducting effective stock and inventory cycle counting.
Seats Remaining 15
Venue Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor) Opposite Adekunle BRT Bus-stop, Yaba - Lagos.
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Starts On 20 Jun 2017
Ends On 23 Jun 2017
Registration Closes 20 Jun 2017



Trainer

Alpha Partners
Member since: 4 months ago
Alpha Partners is a staff training and development company headquartered in Lagos, Nigeria.

Pay ₦105000 for this Training

Training Cost ₦105000
VAT (0%) ₦0
Total Cost ₦105000
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