Inventory management course outline

Last Updated on December 13, 2022 by

The topic “warehouse management system” is a broad one and has a wide scope. It involves a lot of activities and processes that have to be perfected before a company can run a successful warehouse management system. In fact, there are several ways in which an inventory can be managed efficiently. So, if you want to learn the correct way of doing things, there are several online courses and training available today. In this article, we will not only help you to know the basics of the warehousing management but also provide you with some certified warehousing courses that will improve your knowledge and practical skills in the field.

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Discover up-to-date information on certificate in inventory control warehouse management, free warehouse training courses, inventory training, stock management courses, stores management courses, order management courses and inventory management classes near me. You will also find related posts on inventory management course outline on Collegelearners.

Inventory Management Course Outline

WAREHOUSING AND INVENTORY MANAGEMENT COURSE | JK Michaels Institute

Course overview:  

This course provides an introduction to the Principles of Inventory Management and aims to give all delegates a functional knowledge and understanding of inventory management, control principles, roles, responsibilities, and techniques leading to greater input in the overall Supply Chain strategy of an organisation.
Inventory Management is a key strategic enabler in a company’s ability to design their manufacturing process, deliver to customer expectations and minimise overall costs. By using these techniques the company will gain better understanding across inventory management fundamentals, ordering techniques, replenishment policies, purchasing management and inventory performance measurements.

Benefits and Learning Objectives:  

Benefits to the Professional:

  • Greater understanding of the goals and objectives of inventory management
  • Introduction to the tools and techniques of inventory management
  • Learn how to manage and control inventory accuracy
  • Identify and correct inventory bubbles
  • Optimise inventory levels to support customer expectations

Benefits to the Organisation:

  • Implement an inventory management process across your organisation
  • Capability to understand and implement
  • Cost of Goods Reduction (COGS) programmes
  • Trained resources to provide accurate and real time inventory reporting Improve working capital requirements
  • Enhance Customer Service

Topics covered: 

  • Fundamentals of Inventory Management 
  • Purpose and functions of Inventory Management 
  • Inventory replenishment techniques 
  • Inventory Control Process 
  • Introduction to the tools and techniques of Inventory Management 
  • Performance metrics and calculations 
  • The hidden costs of Inventory Management

inventory management training topics

Why is Inventory Management Training Important?

Course Outline

DAY 1

Inventory and the Supply Chain

  • Inventory management definition
  • Types of stock
  • Demand amplifications
  • Demand replenishment in networks
  • Managing the flows
  • Type I and II supply chains
  • The Supply Chain Rules
  • Inventory and statistics
  • Concept of service level

DAY 2

Inventory Key Concepts

  • Key Component: Demand Analysis
  • Key Component: Demand Forecasting
  • Key Component: Supply Lead Time
  • Key Component: Cost & Benefits
  • Inventory benefits
  • Inventory policies
  • Inventory in organizations

DAY 3

Inventory Replenishment Methods and Systems

  • Basic mechanics of inventory systems
  • The stock time curve
  • Stock components
  • Stock investment
  • Free stock
  • Fixed order quantity systems
  • Fixed order time cycle systems
  • Requirements planning systems

Stock Control and Checking

  • Inventory receipts
  • Identifying inventory
  • Surplus and obsolescent stock
  • Stock control and records
  • Stock checking programs
  • Reviewing current procedures and polices

DAY 4

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

  • Push/pull
  • Quick response (QR)
  • Efficient consumer response (ECR)
  • Collaborative planning forecasting and replenishment (CPFR)
  • Lean and agile approaches
  • Quality Management
  • Postponement
  • Cross Docking
  • Consolidation
  • Vendor Managed Inventory (VMI)
  • Consignment stocking
  • Co Managed Inventory (CMI)
  • Direct product profitability (DPP)
  • Economic value added (EVA)
  • Collaborative supply chains

DAY 5

Inventory Improvements

  • Using the Supply Chain
  • Using the Theory of Constraints
  • Practical inventory improvements
  • Call offs and Telemetry
  • EDI and ICT
  • Keys to reducing stock levels
  • The 7 Rules for planning inventory
  • Model for planning inventory

certification in warehousing

Students around the world had to largely compromise on the aspect of classroom learning due to the pandemic. The introduction of online teaching and learning existed earlier, but now we see it evolving on a whole new level with the emergence of online classrooms. That is where accessing educational information from abroad seems like a more accessible option than before. Rather than sticking to the best educational courses in your neighbourhood, you can surf online for the best suitable online educational course.

To figure out warehouse training courses around the world, it is important to know the role it plays for any company. The warehouse has a key role to play in any organization’s supply movement. With each passing day, it is evolving beyond simple storage facilities towards providing fulfilment, consolidation and sortation services as transhipment centres. Warehousing Management certification courses will help you improve your warehouse procedures by introducing you to basic principles of warehousing and also with a glimpse of future possible advancements.

There are numerous warehousing management online certification courses you can find over the internet. To help you out in picking up the right course for you, here is a list of the five best online certification courses in warehousing management to pursue.

CourseDurationCourse FeesPlatform
Warehouse Management Fundamentals8 HoursRs 8,640Udemy
Certified Supply Chain Management Professional12 HoursRs 2,499Vskills
Basics of Warehouse Management6 HoursRs 490Udemy
Warehouse Management – Advanced Diploma QLS Level 5450 Hours£540Oxford Home Study
Warehouse Management Online Couse & Certificate20 Hours$295Technology ED

1. Warehouse Management Fundamentals – Udemy

This is one of the best online certification courses in warehousing management offering knowledge in storage and warehouse management, improvements in efficiency, cost-effectiveness, and increase of the value in the modern warehouse. The course will also provide you with comprehensive insights into the day-to-day operations of a warehouse. This warehouse management course online is apt for students who consider making a career in warehousing and logistics. The course syllabus consists of 7 sections and a total of 47 lectures.

The course includes:

  • 8 hours on-demand video
  • 8 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of completion

Course Fee: Rs 8,640

2. Certified Supply Chain Management Professional – VSkills

This one of the warehousing management online certification courses for Warehouse Manager evaluates the candidate as per the company’s product and storage management needs. The course tests the candidates in different warehouse management areas, including the knowledge of warehouse processes and operating principles, functions of various picking equipment and strategies to employ them, and others. The test duration for this warehouse management course online is 60 minutes with 50 questions and has no negative marking. To pass the test, you have to score at least half of the total score, i.e, 25/50.

This course includes:

  • 12 hours of content
  • Government certification
  • Lifetime certification valid
  • Lifelong e-learning access
  • Free practice tests

Course Fee: Rs 2,499

3. Basics of Warehouse Management – Udemy

Designed for beginners and intermediate professionals working in the day-to-day warehouse operations and students seeking a career in warehousing and logistics, this is one of the highest-rated warehousing management certification courses. This warehouse management course online consists of 6 sections of 61 lectures covering the basics of warehousing and its objectives, warehousing in the supply chain, warehouse processes, warehouse layout, storage and handling equipment, inventory management and much more.

The course includes:

  • 6 hours of on-demand video
  • 12 downloadable resources
  • Lifetime access
  • Mobile and desktop compatible
  • Certificate of completion

Course Fee: Rs 490

4. Warehouse Management – Advanced Diploma QLS Level 5 – Oxford Home Study

Oxford Home Study Centre offers 5 levels of warehouse management course. This is the 5th Level of warehouse management course online that will teach you about warehouses, types and functions of warehouses, warehouse operations & systems, warehouse inventory management, the warehouse inventory cycle, warehouse inventory tracking, and warehouse material handling.

The course includes:

  • 450 hours of course material
  • Endorsed by Quality Licence Scheme
  • No Entry Requirements

Course Fee: £540

5. Warehouse Management Online Couse & Certificate – Technology ED

This amongst the best online certification courses in warehousing management will discuss warehouse functions, processes, organization, and operations in a true sense. This warehouse management course online will also provide you with the knowledge of the present roles of warehouses in the supply chain, making the best use of technology in a warehouse, cost management, and performance controls. In addition, you will learn the elements of warehousing strategy, new warehousing technologies, management issues, warehousing planning, warehouse cost management, and more.

The course includes:

  • 20 contact hours of content
  • 5 homework assignments
  • 1 final exam
  • Instructor-led classes
  • Online Learning Management System
  • Certificate of completion

Course Fee: $295

warehousing and material management

Introduction

Purchase of raw materials is an integral part of any business, i.e. manufacturing organization or service organization. Purpose of raw material is to be converted into finished goods for selling, but after purchase and before selling, they need to keep in safety and good care. The timeframe of storage can be short period or longer depending upon nature and requirement of materials.

Any damage or theft to the materials is going to increase cost to the organization. So it becomes important for organization to have a robust and effective warehouse as well as material’s management.

Scope of Warehouse Management

The place where raw material and/or finished goods are stored is referred to as warehouse or store. Generally, warehouse is structure or building design keeping in mind raw material and finished goods it is going to store. Therefore, warehouse management should be able to:

  • Receive the purchase goods and entered upon the stock register.
  • Inventory Accounting of raw material, work-in-progress or finished goods.
  • Preservation of the inventory
  • Ability to access goods whenever called upon.
  • Appropriate record keeping through coding as to preserve goods and reduce obsolescence.
  • Proper stocking of goods as ensure smooth handling.

If above objectives are met, warehouse management significantly increases the overall efficiency of the production and organization. A robust warehouse management would ensure that:

  • A smooth flow of production
  • Appropriate layout management to reduce material handling and equipment handling
  • Reduce to wastage as well as spoilage
  • Eliminate the possibility of theft and damage
  • Ensure preservation of environment and reduce pollution.
  • Encourage cost reduction and driving efficiency

Warehouse Design

Warehouse design is art in which goods and material can be stored as to reduce wastage, cost of carrying and increase safety. The various factors considered for warehouse design are as follows:

  • Easy material handling including receipt, dispatch and storage.
  • Easy supervision of materials as well as personnel
  • Reduce and control obsolescence of the goods by following appropriate method.
  • Optimum utilization of space

Storage Location

There are three general ways in which goods are stocked as to reduce material handling and increase prompt access. They are as follows:

  • Fixed position in which specific area is located where designated goods are stored. If the designated goods are not there, that space will remain empty. Fixed position encourages easy and traceable access to the goods.
  • Random Storage in which goods are stored where ever space is available. Here maximum utilization of the space is achieved.
  • Categorized fixed location in which particular set of products are placed randomly in the allotted space.

Material Management

Material management is a sub-set of warehouse management dealing exclusively material which contribute the maximum to completion of the end product. The objectives of material management are as follows:

  • Lower the price of the raw materials.
  • Reduce the cost of production and ensure the smooth flow of production.
  • Maintain quality of raw material as well as finished goods.
  • Maintain good relation with the supplier as to ensure a smooth flow of raw materials.
  • Continuous improvement of the skill set of the workers thereby increasing overall efficiency within the organization.

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