STORE, WAREHOUSE AND INVENTORY MANAGEMENT
The stores or warehouse functions has a direct impact on the profitability level of any establishment. Careful management of this function can positively affect the success of the organization.
At the end of the programme, participants will be able to:
- Develop an understanding of the principle of storekeeping and inventory management.
- Manage the store function as a profit centre
- Apply safety and health principles to store and warehouse operations
- Stores/Warehouse Activities: o Stock identification and Coding System
– Store/warehouse area – design, partitioning, (receiving and issuing bay)
– Materials/People movement in store areas.
- Warehouse and Stores Management
– Goods receiving procedures
– Issuing Methodology – FIFO, LIFO etc.
– Dispatch/Distribution procedures
– Materials handling Techniques
– Procedures for Handling of shortages, returns/reverse, damages
– Materials Costing: cost, standard, marginal and average pricing
– Stock Taking – periodic, continuous, and spot checking
– Effective documentation of every activity
- Inventory Management –
– Types of inventory or Classes of Inventory
– Inventory Planning and Control –
– Stock Replenishment – provisioning, Stock Levels, Two Bin System
– Stock Control Models – MRP 1, MRP 11, ABC, JIT/JIC, etc.
- Warehousing and Stores Safety and Security
– Good House Keeping procedures – cleanliness, fumigation, environmental issues
– Health and Safety Act and its observations – safety practices etc
– Stock/Materials segregation: flammable and non flammable
– Stores markings with signs: no smoking, no sleeping under materials
– Security of materials, building, employees and visitors, fire prevention, access to stores etc.
Inventory/Stores/Warehouse Managers, Officers, Supervisors, Operations, Production Managers etc.