Excellence in Warehouse and Inventory

Objectives

• Learn the principles of Warehouse and Inventory Management
• Evaluate current procedures
• Examine operations and activities
• Analyze the key areas of operations
• Identify and Understand key performance indicators
• Succeed in improving operations
• Improve personal productivity
• Make needed changes to methods to improve customer service whilst achieving reductions in inventory
• Eliminate wasteful costs
• Avoid those internal problems that limit performance
• Obtain added value for money
• Understand and implement the essential tools for managing warehouses and inventory in the supply chain

Outline

 Warehouse and Stores Management
• The Role of the Warehouse
 Why we need a warehouse,
 What functions they cover,
 How do they fit into the supply chain
 The balance between sorting and storing
 12 initial questions to ask about warehousing activity

• Product Classification
 Supply /demand variables
 ABC Analysis or the 80/20 rule
 Determining product handling groups
 Throughputs and product formats

• Layout Options
 Receiving options
 Storage options
 Picking/assembly options
 Dispatching options
 Using the floor and the height space
 Organizing for flow

• Methods and Equipment
 Warehouse structures
 Loading bays
 Selecting fork lift trucks
 Selecting racking
 Implications for warehouse layouts
 Operational timings and planning

• Health and Safety
 Duty of care
 Inspections and risk assessments-task analysis
 Equipment maintenance and care
 Raising people’s awareness

• Security and Loss
 Minimizing internal theft
 Minimizing external theft
 Preventative measures will be briefly discussed.

• Productivity and Costs
 Fixed and variable cost
 Typical costs involved
 A model for understanding the roles of productivity, utilization, and performance
 Setting productivity and cost targets
 The importance of having measurements and key indications of performance
• Service Levels
 Internal and external customers
 The three key customer service measure
 Customer service sampling
 Effects of substandard service
 Minimizing errors

• Warehouse Layout
 Different types of layout with advantages and disadvantages
 Planning for flow in the warehouse
 Checklists to help on deciding the best option

 Inventory and Stock Control Management
• Inventory and the Supply Chain
 Inventory definitions and importance
 Inventory in the Supply Chain
 The Supply Chain Rules
 Supply Chain and Inventory dynamics
 Inventory and Finance
 Inventory and Statistics
 Truths on Inventory
• Inventory Key Concepts
 Key Component: Demand Analysis
 Key Component: Demand Forecasting
 Key Component: Supply Lead Time
 Key Component: Cost & Benefits
 Inventory polices
 Inventory in organizations
• Inventory Replenishment Methods and Systems
 Basic mechanics of inventory systems
 The stock time curve
 Order Quantity
 Free stock
 Simple replenishment methods, for example, Min/Max
 Accurate replenishment methods, for example, Reorder Point and Reorder Level (ROP/ROL)
 Truths on Replenishment
• Stock Control and Inventory Performance
 Stock Checking
 Stock accuracy
 Stock tolerances and approvals
 Stock reconciliations / discrepancies
 Surplus and obsolescent stock
 Preservation options
 Storage conditions
 Stock coding
 Variety reductions
• Evaluating Inventory Performance
 Inventory Assessment
 Assessing the stock level
 Models for implementing inventory control
 Determining stock targets
 Inventory questions
 Inventory KPI’s in warehouses/stores

• Inventory Strategies
 Inventory Policy
 Stock Committee
 Critical stock
 Use of squirrel stores
 Forecast or order driven?
 Collaborative planning forecasting and replenishment (CPFR)
 Collaborative supply chains
 Incoterms
 Vendor Managed Inventory (VMI)
 Consignment stocking
 Co Managed Inventory (CMI)
 Call offs
 Telemetry
 ICT
 Outsourcing

• Inventory Improvements
 Using the Supply Chain
 Using the Theory of Constraints
 Practical inventory improvements
 Keys to reducing stock levels
 The 7 Rules for planning inventory
 Model for planning inventory

Who Should Attend ?

Inventory managers – Materials managers – Distribution managers – Logistics managers – Demand Planners – Supply Chain managers – Warehouse managers – Operations managers – Procurement managers – Quality managers