Strategic Warehousing and Inventory Management Workshop

Program overview:
All businesses have to carry stock or inventory of some kinds in order to ensure that the demands from customers are met
promptly. Inventory management is risky, and risk varies upon a firm’s position in the service, manufacturing and distribution
systems. The typical measures of inventory exposure are time duration, depth and width of commitment. For business survival
and profitability, inventory must be managed strategically. Managing stock levels, qualities, quantities and storage areas,
(environmental conditions) to achieve profitability by minimizing overstocking and stock-outs
For whom:
This program is designed for Store managers, Store supervisors, purchasing officers, Stock valuation and verification officers,
Project Managers, Accountants and Auditors. All those responsible for the management of materials in the manufacturing /
service industries
Learning objectives:
At the end of the program, participants will able to:
* Explain the importance of warehousing and inventory
* Describe why it is important to plan and control inventory levels
* Discuss warehousing Contributions to Organization Profitability
* X-ray store and warehouse activities
Course outline:
Day 1: -Strategic Management
* Its application to store and warehouse operations
* Stores/warehouse goals and objectives
o -Warehousing Contributions to Organization Profitability
o o Warehouse / Store goals, o Warehouse / Store strategies,
* Warehouse / Store Key Performance Areas,
o Savings in Warehouse / Store Activities
* Stores/Warehouse Activities:
o Stock identification and Coding System
o Store/warehouse area –
design, partitioning, (receiving and issuing bay)

* Materials/People movement in store areas.
Day 2: – Warehouse and Stores Management
* Goods receiving procedures
* Issuing Methodology – FIFO, LIFO etc.
* Dispatch/Distribution procedures
* Materials handling Techniques
o Procedures for Handling of shortages, returns/reverse, damages
o Materials Costing: cost, standard, marginal and average pricing
o Stock Taking – periodic, continuous, and spot checking

o Effective documentation of every activity
* Inventory Management –
o Types of inventory or Classes of Inventory
o Inventory Planning and Control –
* Stock Replenishment – provisioning, Stock Levels, Two Bin System etc.
o Stock Control Models – MRP 1, MRP 11, ABC, JIT/JIC, etc.
Day 3: – Importance of stores/warehouse in Operations and Customer
* Service Management:
o Importance of warehousing / stores in Sales and Distribution (Logistics),
* Supply Chain Management – stores and warehouse contribution.
o Warehousing and Stores Safety and Security
* Good House Keeping procedures – cleanliness, fumigation, environmental issues,
o Health and Safety Act and its observations – safety practices etc.
o Stock/Materials segregation: flammable and non-flammable
o Stores markings with signs: no smoking, no sleeping under materials etc.
* Security of materials, building, employees and visitors, fire prevention, access to stores etc.
Training Methodology
Lectures, discussions, exercises, case studies, audio-visual aids will be used to reinforce these teaching/learning methods.