Optimise inventory levels
Design & manage warehouse operations
Build an inventory management plan
Increase traceability & reduce parts variety
what
... [Show More] is inventory management ?
Describe what inventory management is and the reasons why it is important for an enterprise to manage its inventories.
Define the major types of inventory that are to be found in an enterprise and the reasons for their existence.
Make a case for reducing unnecessary variety in inputs.
Describe the impact of inventory on the financial health of
Explain the role of inventory within the context of supply chain
strategy
Outline the main approaches to demand forecasting and its relevanceto inventory management
Describe the main issues and approaches to reducing lead-time uncertainty and also, thus, inventory levels
Describe the links to inventory management of enterprise resource management systems such as ERP, MRP, DRP and JIT Analyse, suggest and apply an appropriate service level policy for a company’s internal and external customers Categorise inventory using ABC analysis, the Supply Positioning Model and
other techniques
Describe measures that can be taken to ensure traceability and variety reduction in inventories
Outline the basis for applying an effective stock coding system
Describe the main issues relating to inventory insurance and using inventory as security for loans
Critically review a company’s inventory management operations
Define the information that you will need to manage inventories effectively.
Describe and apply the five methods of inventory valuation.
Identify the steps to be undertaken in the issue and receipt of
Describe the three main types of inventory replenishment systems.
Know how to determine the most cost-effective order quantity under different circumstances, and describe the assumptions and limitations of methods for doing this.
Describe and apply the calculations to determine the level of safety stock under both the re-order level and the periodic review inventory replenishment systems.
Establish when a warehouse is needed to support the type of operations envisaged by an enterprise.
Determine the main warehouse location and design features to achieve maximum efficiency and minimise cost, and identify which types of plant, fixtures and equipment will be required.
Identify the main warehouse operations and requirements relating to loading, unloading, storing, order picking and disposal.
Describe the main types of inventory transaction records and the methods of collecting and processing transaction data, including through the use of computer-based systems, bar codes and radio-frequency tagging.
Identify the main ISO quality management standards that apply to the handling, storage, packaging, preservation and delivery of goods. [Show Less]