Training Course on Inventory Management and Purchasing Skills.
This intensive training course covers the skills required to lead procurement and inventory teams to world class performance by running organizations leaner, effectively and efficiently. The pressure to reduce costs, while maintaining customer service levels is essential in both procurement and inventory management. It focuses on the ‘gaps’ in performance to be filled in order to provide the continuous improvements needed to meet strategic objectives.
Procurement and inventory are two of the least understood areas of business in many organisations, but are essential for good business results. Adopting sound procurement and inventory management principles will lead to better return on investment, improved quality, lower costs, and reduced working capital.
Who Should Attend?
This training course is for Professionals and Staff in organization that are responsible for improving quality, reducing costs, increasing productivity, raising inventory turns and enhancing customer service through better purchasing and inventory management.
At the end of the course, participants will be able to:
· Develop strategic purchasing plans & discuss how to improve internal customer service
· Explore many ways of reporting key performance indicators (KPIs)
· Understand the most important competencies for purchasing personnel
· Understand the importance of inventory & the role it plays in the profitability of the company
· Apply best methods to optimize the investment in inventory
Module 1: The Complete Course on Purchasing Management
Session One: The 1st Steps to Becoming World Class
· Stages to World Class Purchasing
· How Purchasing is viewed today
· Strategic Sourcing
· Developing Spend Profiles and the ABC Analysis
· New Job Descriptions for Purchasing of the future
· Purchasing Personnel Required Skill Sets
Session Two : Evaluating Your Own Operation
· What are Best Practices
· Purchasing Gap Analysis
· Vision and Mission for Purchasing
· Developing the Purchasing Department Strategic Plan
· Developing Key Performance Indicators (KPIs) For Procurement
· Developing A Company Purchase Price Index
Session Three: Continuous Improvement and How to Get It
· Cost Reduction Initiatives
· Methods of Cost Containment
· Waste in The Supply Chain
· Breaking Down the Elements of Supplier Cost
· Commodity/Service Strategic Planning
· Resisting Price Increases
Session Four: Supplier Management Approaches
· Supplier Classification System
· Supplier Qualification Methods
· Supplier Performance Metrics
· Apply Performance criteria to Purchasing Decisions
· Process Mapping to Eliminate Low Value Activities
· Applying eProcurement business process
Session Five: Improving the Image of Procurement
· Global Sourcing
· International Labor Rates Comparison
· Developing and Maintaining a Customer Focus
· Basic Issues in Corruption and Fraud Prevention
· Increasing the Level of Procurement Professionalism
· Keeping Current in the profession
Module 2: The Complete Course on Inventory Management
Session Six: Inventory in the Value Chain
· The purpose of inventory in the value chain
· Classification of inventory
· Procedure for eliminating obsolete inventory
· Pareto Law in identifying product Classification
· Location of inventory
· Using Economic Order Quantity on managing inventory order levels
Session Seven: Demand Planning
· Basic forecasting methods
· Customer segmentation
· Hierarchy of planning
· Aggregate planning
· Maintenance & Inventory planning meeting
· Master Scheduling
Session Eight: Forecasting
· Principles of forecasting
· Effect of lead time on the forecasting process
· Quantitative forecasting
· Qualitative forecasting
· Tracking forecast accuracy
· ·Determining safety stock
Session Nine: Inventory Recording
· Period stock take
· Cycle counting
· Perpetual recording
· Utilizing Bar-cades to manage inventory and movements
· The use of Radio Frequency Identification (RFID) for recording inventory movement
· Inventory accounting
Session Ten: Performance Measurement
· Stock turnover rate
· Customer service
· Cost of operations
· Measuring the effectiveness of your system
· How to use the measurements
· Class exercise on selective inventory management
The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.
i. The participant must be conversant with English.
ii. Upon completion of training the participant will be issued with an Authorized Training Certificate
iii. Course duration is flexible and the contents can be modified to fit any number of days.
iv. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.
v. One-year post-training support Consultation and Coaching provided after the course.
vi. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.
We also offer online training.
Course Fee: Ksh 160,000, USD 1800
Mobile No: +254724527104/ +254734969612
Email Add: [email protected]
Postal Add: 5402-00100
Head Office: Comet House , Along Monrovia Street, Nairobi, Kenya
Visit our website:www.datastatresearch.org.