Whole Life Asset Management [L4M7] Course Overview

Whole Life Asset Management [L4M7] Course Overview

The Whole Life Asset Management [L4M7] course is designed for professionals with over 2+ years of business experience, aiming to elevate their technical skills and competencies. With 60 hours of immersive training, this Level 4 Diploma covers crucial aspects like Inventory storage and movement, Effective inventory control, and Through life cost management. Participants will explore principles of Warehouse design, usage of Product coding, and impacts of various Warehousing equipment. They will also learn to classify different types of inventory, identify associated costs, and utilize techniques like MRP, ERP, and Just-in-Time. Additionally, the course delves into establishing and applying total cost of ownership models, covering costs from acquisition to disposal. This course requires a basic understanding of supply chain concepts but has no formal entry requirements, making it accessible to all interested candidates.

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2,550

  • Live Training (Duration : 60 Hours)
  • Per Participant
  • Guaranteed-to-Run (GTR)
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♱ Excluding VAT/GST

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  • Live Training (Duration : 60 Hours)
  • Per Participant

♱ Excluding VAT/GST

Classroom Training price is on request

You can request classroom training in any city on any date by Requesting More Information

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Course Prerequisites

Minimum Required Prerequisites for Whole Life Asset Management [L4M7]


To successfully undertake the Whole Life Asset Management [L4M7] course, prospective students should ideally possess the following prerequisites:


  • Basic understanding of how the supply chain works.
  • At least 2+ years of relevant experience in a business environment.
  • An interest in developing technical skills, knowledge, and competencies in asset management.

These prerequisites ensure that students have a foundational understanding and relevant experience, facilitating a more effective and enriching learning experience. No formal entry requirements are necessary.


Target Audience for Whole Life Asset Management [L4M7]

Introduction:


The Whole Life Asset Management [L4M7] course by Koenig Solutions is designed for professionals with over 2+ years of business experience, aiming to build in-demand technical skills in inventory and asset management.


Target Audience and Job Roles:


  • Inventory Managers
  • Supply Chain Managers
  • Warehouse Managers
  • Procurement Specialists
  • Operations Managers
  • Logistics Coordinators
  • Asset Management Professionals
  • Production Planners
  • Business Analysts in Supply Chain
  • Project Managers in Asset Management
  • Quality Assurance Professionals in Manufacturing
  • Materials Managers
  • Procurement Analysts
  • Distribution Managers
  • Facilities Managers
  • Maintenance Managers in Manufacturing
  • Risk Management Professionals in Supply Chain Logistics
  • Compliance Officers in Waste Management
  • IT Professionals in ERP and Inventory Systems


Learning Objectives - What you will Learn in this Whole Life Asset Management [L4M7]?

Course Introduction

The Whole Life Asset Management [L4M7] course is designed to equip professionals with 2+ years of business experience with the key technical skills, knowledge, and competencies required for effective inventory and asset management throughout its lifecycle.

Learning Objectives and Outcomes

  • Understand Methods for Storage and Movement of Inventory

    • Identify principles, purposes, and impacts of store and warehouse design (location, layout, flow, space utilization, flexibility).
    • Explain the use of product coding in inventory operations (bar coding, order tracking, RFID technologies).
    • Contrast the impact of different warehousing equipment (materials handling, palletization, packaging standards, automation).
  • Effective Inventory Control

    • Differentiate between various classifications of inventory (opening stock, work in progress, safety stock, finished goods, obsolescent, redundant stock, direct and indirect supplies, ABC classifications, dependent and independent demand).
    • Identify direct and indirect costs of holding inventory (acquisition, holding, stock-outs).
    • Identify techniques associated with inventory control (forecasting methods, re-order quantities, MRP, MRPII, ERP, Just-in-time, lean inventory performance measures).
  • Understand the Concept of Through Life Cost

    • Analyze contributing factors for

Technical Topic Explanation

Inventory storage and movement

Inventory storage and movement involve organizing and managing goods within a warehouse or storage facility. This process includes the receipt, storage, and tracking of inventory items to ensure availability and efficient retrieval. It requires strategic planning to optimize space and reduce handling time. Key activities include the proper placement of items based on frequency of access, implementing systems for easy location tracking, and ensuring secure and systematic movement of goods to minimize errors and delays. Effective management of this process supports operational efficiency, reducing costs and improving service delivery in supply chain operations.

Effective inventory control

Effective inventory control is crucial for managing IT assets efficiently. It involves tracking and overseeing all IT assets within an organization to optimize their use and prevent over-purchasing or misplacement. With IT asset management training or undertaking an IT asset management course, professionals learn to streamline processes, ensure compliance, and enhance performance. Achieving an IT asset manager certification equips one with the skills to implement effective inventory strategies that integrate current IT asset management and inventory practices, ensuring that every piece of hardware and software is accounted for and adding return on investment.

Product coding

Product coding involves assigning unique identifiers to items in a company's inventory, allowing for easier tracking, management, and retrieval of product information. These codes, often seen as barcodes or RFID tags, facilitate systematized storage and sales operations, streamline supply chain logistics, and improve overall inventory accuracy. Effective product coding ensures that businesses can quickly access detailed item data, supporting better decision-making and operational efficiency. This method is integral to maintaining a functional it asset management and inventory system.

Through life cost management

Through life cost management refers to the comprehensive understanding and control of costs involved throughout the lifecycle of an asset. It requires strategic oversight from initial acquisition, operation, and maintenance, to disposal. Implementing this method ensures organizations optimize their use of assets, achieving maximum efficiency and cost-effectiveness. By emphasizing proper it asset management and inventory, businesses can reduce unnecessary spending, anticipate future costs accurately, and extend the lifespan of their assets. Effective through life cost management is central to strategic financial planning and operational efficiency in any asset-intensive organization.

Warehouse design

Warehouse design involves strategically organizing a storage facility to optimize space, improve inventory management, and enhance workflow efficiency. Key aspects include layout planning, consideration of inventory size and turnover, and the integration of technology for better tracking and handling of goods. Effective warehouse design aims to reduce operational costs, speed up processes, and increase overall performance, ensuring products are easily accessible and safely stored until needed. Proper design also addresses the need for scalability, adapting to changes in product demand or inventory levels over time.

Warehousing equipment

Warehousing equipment encompasses a range of tools and machinery used in warehouses to facilitate the storage, handling, and transportation of goods. It includes items like forklifts, pallet jacks, conveyor belts, shelving, and racks, which help in efficiently organizing inventory and managing space within the warehouse. Advanced systems may also incorporate automated and robotic solutions to further streamline operations and reduce manual labor, enhancing overall productivity and safety in the warehousing environment.

Target Audience for Whole Life Asset Management [L4M7]

Introduction:


The Whole Life Asset Management [L4M7] course by Koenig Solutions is designed for professionals with over 2+ years of business experience, aiming to build in-demand technical skills in inventory and asset management.


Target Audience and Job Roles:


  • Inventory Managers
  • Supply Chain Managers
  • Warehouse Managers
  • Procurement Specialists
  • Operations Managers
  • Logistics Coordinators
  • Asset Management Professionals
  • Production Planners
  • Business Analysts in Supply Chain
  • Project Managers in Asset Management
  • Quality Assurance Professionals in Manufacturing
  • Materials Managers
  • Procurement Analysts
  • Distribution Managers
  • Facilities Managers
  • Maintenance Managers in Manufacturing
  • Risk Management Professionals in Supply Chain Logistics
  • Compliance Officers in Waste Management
  • IT Professionals in ERP and Inventory Systems


Learning Objectives - What you will Learn in this Whole Life Asset Management [L4M7]?

Course Introduction

The Whole Life Asset Management [L4M7] course is designed to equip professionals with 2+ years of business experience with the key technical skills, knowledge, and competencies required for effective inventory and asset management throughout its lifecycle.

Learning Objectives and Outcomes

  • Understand Methods for Storage and Movement of Inventory

    • Identify principles, purposes, and impacts of store and warehouse design (location, layout, flow, space utilization, flexibility).
    • Explain the use of product coding in inventory operations (bar coding, order tracking, RFID technologies).
    • Contrast the impact of different warehousing equipment (materials handling, palletization, packaging standards, automation).
  • Effective Inventory Control

    • Differentiate between various classifications of inventory (opening stock, work in progress, safety stock, finished goods, obsolescent, redundant stock, direct and indirect supplies, ABC classifications, dependent and independent demand).
    • Identify direct and indirect costs of holding inventory (acquisition, holding, stock-outs).
    • Identify techniques associated with inventory control (forecasting methods, re-order quantities, MRP, MRPII, ERP, Just-in-time, lean inventory performance measures).
  • Understand the Concept of Through Life Cost

    • Analyze contributing factors for