Inventory Control Course Overview

For those interested in enrolling in the Inventory Control course offered by Koenig Solutions, the following are the minimum prerequisites to ensure a successful learning experience:

• Basic Understanding of Business Operations: Familiarity with general business concepts and operations is beneficial to contextualize the role and impact of inventory management within a company.

  
  

• Numeracy Skills: Basic mathematical skills are necessary as the course involves concepts such as inventory costing, forecasting, and analysis of Key Performance Indicators (KPIs).

  
  

• Computer Literacy: Basic proficiency in using computers, as the course will cover inventory management systems and may require use of software tools for demonstrations and exercises.

  
  

• Communication Skills: Effective written and verbal communication skills will aid in understanding course material and participating in discussions.

  
  

• Interest in Supply Chain and Logistics: A general interest in the fields of supply chain management, logistics, or related areas can enhance understanding and engagement with the course content.

  
  

No prior specialized training in inventory control or management is required, making this course suitable for beginners who are looking to build foundational knowledge as well as for those in related fields seeking to enhance their skills.

Target Audience for Inventory Control

The "Inventory Control" course by Koenig Solutions spans 3 days, targeting professionals in charge of inventory and stock management across various industries.

• Inventory Managers

  
  

• Supply Chain Analysts

  
  

• Warehouse Managers

  
  

• Purchasing Managers

  
  

• Operations Managers

  
  

• Financial Controllers involved in stock valuation

  
  

• Logistics Coordinators

  
  

• Production Planners

  
  

• Quality Assurance Managers

  
  

• Business Analysts involved in supply chain management processes

  
  

• Retail Managers overseeing stock levels

  
  

• ERP System Administrators dealing with inventory modules

  
  

Learning Objectives - What you will Learn in this Inventory Control?

Introduction to the Course's Learning Outcomes

This Inventory Control course equips participants with key skills in inventory management, from fundamental concepts to advanced strategies for optimization and continuous improvement across 3 intensive days.

Learning Objectives and Outcomes

• Understand the essentials of inventory management including definitions, objectives, and various inventory types.
• Master planning and forecasting techniques to manage and anticipate inventory needs effectively.
• Learn different inventory costing methods (FIFO, LIFO, Weighted Average) and their impact on financial statements.
• Employ inventory optimization tools like ABC analysis and establish optimal inventory levels including safety stocks.
• Explore and evaluate different Inventory Management Systems (IMS) and their implementation in real business scenarios.
• Develop skills in warehouse management including design principles and layout optimization for effective inventory handling.
• Gain proficiency in inventory tracking and maintaining accurate records using modern technologies such as barcode and RFID systems.
• Understand and implement inventory auditing and control measures to prevent losses due to shrinkage and fraud.
• Analyze and interpret Key Performance Indicators (KPIs) for effective inventory performance measurement.
• Initiate continuous improvement in inventory management using Lean principles and Kaizen methodology to reduce excess and carrying costs.