Effective Stock Control
| Effective Stock Control |
ObjectivesIntended for personnel concerned with the control of stocks including stock controllers, buyers, stores and warehouse managers, works managers and production controllers. Experience within the Stock Control function is desirable. OutcomesTo highlight the importance of effective stock control and its influence on working capital, cash flow and company profitability. To examine in depth the theory behind the full range of stock control techniques available and the practical application of these techniques. Course ContentBasic PrerequisitesSecurity of Stores / Accurate Stock Records / Difference Between Stock Recording and Stock Control / Reasons for Holding Stock. Financial ConsiderationsThe Effect of Stock Control on Working Capital / Cash Flow / Return on Investment / Liquidity and Company Profitability / Stock Turnover. CostsStockholding Cost / Cost of Money / Running Costs / Wastage / Insurance / Administration / Total / Ordering Costs. How much to orderEOQ / Lot sizing. Forecasting Future DemandsDemand Patterns / Trends / Seasonal Variations / Random Fluctuations / Sporadic Demand / Mixed Demand / Moving Average / Weighted Moving Average / Exponential Smoothing / Tracking. When to OrderSafety Stocks / Standard Deviation / Re-Order Levels / Service Factors. Systems of Stock ControlABC Analysis / Quantity Based Systems / Time Based Systems / Differential Stock Control / Consignment Stock / Vendor Managed Inventory / Kanban. MRP/ERPTime Phasing / Explosion Routines / Schedule Regeneration / Just-in-Time / Zero Defects. StocktakingReasons / Periodic / Continuous / Treatment of Discrepancies. Obsolete, Redundant and Surplus StocksIdentification/ Disposal Options. COURSE DATES20 - 21 May 201311 - 12 September 2013
20 - 21 November 2013 Course Fee£625.00 + VAT
Course DurationTwo day non-residential training course.PMS has preferential rates for accommodation with three excellent city hotels within walking distance of the Training Centre. |