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Inventory Management and Control

Covers inventory planning, forecasting, stock control, and inventory optimization techniques. Emphasizes reducing inventory costs and improving service levels. Course Overview: Effective inventory management is vital for balancing supply with demand, minimizing carrying costs, and ensuring smooth operations. This course by 4D – The Fourth Dimension Training and Consultancy provides participants with comprehensive knowledge and practical tools to manage inventory efficiently. Topics include inventory classification, control techniques, demand forecasting integration, and the use of technology in inventory monitoring. Participants will learn strategies to reduce excess and obsolete stock while maintaining high service levels, leading to improved cash flow and operational performance. By the end of this course, participants will be able to: Understand inventory concepts and types Classify inventory using ABC and other methods Apply inventory control techniques such as EOQ and safety stock calculation Integrate demand forecasting with inventory planning Utilize technology and ERP systems for inventory management Develop policies to minimize stockouts and overstock situations Monitor inventory performance using KPIs Course Delivery Method: Instructor led classroom or virtual sessions Practical exercises and case studies Group discussions and problem solving workshops Use of inventory management tools and software demonstrations.

Training Outlines

Module 1: Fundamentals of Inventory Management
• Definition, importance, and objectives of inventory management
• Types of inventory: raw materials, work-in-progress, finished goods
• Inventory costs and their impact on profitability

Module 2: Inventory Classification and Analysis
• ABC XYZ FSN GOLF VED analysis and other classification techniques
• Inventory turnover ratios and their interpretation
• Criticality and demand variability analysis

Module 3: Inventory Control Techniques
• Economic Order Quantity (EOQ) model
• Reorder point and safety stock calculations
• Just-in-Time (JIT) and lean inventory concepts
• Vendor Managed Inventory (VMI) overview

Module 4: Demand Forecasting and Inventory Planning
• Basics of demand forecasting for inventory management
• Integrating forecasts into replenishment strategies
• Seasonal and trend adjustments in inventory planning

Module 5: Technology in Inventory Management
• Role of ERP and inventory management systems
• Barcode, RFID, and automated data capture
• Inventory tracking, cycle counting, and audit procedures

Module 6: Inventory Performance Measurement and Improvement
• Key inventory KPIs: stock accuracy, fill rate, days of inventory
• Strategies to reduce excess, obsolete, and slow-moving stock
• Continuous improvement methods for inventory control

Tell us about your enquiry today

Why 4D?

At The Fourth Dimension Training & Consultancy, we don't believe in one-size-fits-all solutions. Each course we offer is carefully tailored to meet the unique goals, industry challenges, and team dynamics of your organization. Our expert trainers bring decades of hands-on experience and guide participants using real-world case studies, practical tools, and interactive methods. This ensures not only theoretical understanding but also direct relevance to the day-to-day work of your employees. We collaborate closely with your team to adjust content, language, and examples so that the training resonates deeply and delivers lasting impact.

Frequently asked questions

Trainings FAQs

We provide a tailor-made offer for each requirement. For example, if you're a company wanting to train multiple people, we provide a special offer per person and might charge per day rather than per person for large numbers, which would be more beneficial for you. If you are an NGO with a big number of participants, we can also significantly reduce the price per person. If you want the training in a specific venue (like a hotel or event space), we take that into consideration and would be responsible for all arrangements. Rest assured, our prices are among the most competitive in the market and we never like to lose a client. Register your interest and our team will be in contact within 24 hours.

Absolutely! We strongly recommend and provide pre and post-training assessments to ensure the tangible impact and effectiveness of our programs. For instance, we can deploy a mystery shopper experience both before and after a training initiative. This allows us to gather objective data on how the training has influenced real-world performance, customer interaction, and overall skill application within your team. This direct comparison provides invaluable insights into the return on your training investment and helps fine-tune future development strategies.

Our tailor-made trainings are designed to ensure direct applicability to your daily work. We achieve this by incorporating examples, interactive games, practical exercises, and relevant case studies that truly resonate with the trainees. This approach helps them bridge the gap between theory and real-world application. Our consultants don't just present information; they draw from their extensive experience, and crucially, from yours, to develop and apply customized solutions that truly work.

The duration of our 4D's programs is finely tuned to their specific objectives. For training designed to culminate in an international certification from a recognized entity, we adhere to the protocols and timeframes mandated by the certifying body. However, for our bespoke, tailor-made solutions aimed directly at enhancing performance and organizational capabilities, the duration is highly flexible, ranging from intensive one-day workshops to comprehensive two-week programs, all designed to deliver optimal impact and tangible results.