CILT Endorsed Inventory and Supply Chain Management|Online

Course Methodology

The course uses a mix of interactive and hands-on techniques. Beside the brief presentations by the consultant and the participants, there will be many individual and group exercises. The work related activities require participants to calculate or draw optimal solutions for diﬀerent scenarios after understanding the process.

Course Objectives

By the end of the course, participants will be able to:

Describe the objectives and functions of inventory and supply chain management (stock control, purchasing, stores and physical distribution) and explain how they relate to each other
Categorize stock items based on the ABC classification model
Calculate future demand for different stock items
Identify Reorder Points (ROP), Economic Order Quantity (EOQ) and Safety Stocks (SS) for different stock items
Apply the basic purchasing processes and use Incoterms appropriately
Identify best practices in warehouses to maintain accurate inventory records
List the various transportation functions and costs

Target Audience

Those involved in any function of materials and supply chain management (inventory, warehousing, purchasing and transportation) who are concerned with successfully providing acceptable customer or user service at a minimum cost. This course is also appropriate for anyone who needs to know more about the role of materials management.

Target Competencies

Logistics theory and practices
Planning and logistics work processes
Assessment and planning of requirements
Demand planning
Procurement
Warehouse management
Logistics and transportation management

Definition of inventory and supply chain management
- Materials management scope
- The functions and objectives of materials management
- Types of inventory
- The importance of customer service in materials and supply chain
- Problems in materials management
- Computerized materials management applications
Inventory planning and stock control
- Inventory systems
- The ABC classification
- Application of the ABC classification
Forecasting and planning in materials management
- Typical demand trends
- Forecasting objectives
- Different forecasting models
- Qualitative forecasting
- Quantitative forecasting
- Evaluation of forecasts
Materials planning and control
- Inventory costs
- The economic order quantity model
- How to deal with constrained quantity discount schemes
- The importance of controlling lead time
- The maximum/minimum system
- Setting the reorder points
- Setting safety stocks
The purchasing function
- Basic purchasing process
- Skills of a purchasing professional
- Factors to consider when selecting suppliers
- Suppliers evaluation
- Changing trends in procurement
- Definition and application of Incoterms
- Negotiating with suppliers
The warehousing function
- Warehousing objectives
- Inventory record accuracy requirements
- Calculating record accuracy
- Periodic cycle counting
- How to improve record accuracy
The transport function
- Fleet and transport objectives
- Methods of transport
- Responsibilities of traffic
- Transport expenses
- Cost reduction opportunities
- Routing and cubing

Chartered Institute of Logistics and Transport (CILT)

Meirc is an Approved Training Provider (ATP) in the region for the Chartered Institute of Logistics and Transport (CILT). Established in 1919, CILT is the world’s leading supply chain, logistics and transport professional body with over 33,000 members across the globe. CILT seeks to add value to individual and corporate members by enhancing their knowledge, careers, and businesses by setting, supporting and delivering professional standards and education in the fields of logistics, transport and supply chain. By attending Meirc’s CILT accredited courses, participants can earn CPD units as well as attain modular unit award courses that can be combined for international certification

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2024 Schedule & Fees

Fees

Per participant

USD 2800

Fees + VAT as applicable

Discount Plans & Cancellations Policy

Location & Date

There are no public sessions remaining for the course this year. Please contact us if you wish to have a customized in-house session, or to find out how an additional public session can be scheduled.

Meirc reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

Tax Registration Number: 100239834300003

This course is also offered in face-to-face courses, click on the course below.

CILT Endorsed Inventory and Supply Chain Management

5 - 9 May, 2024

English

Dubai