Inventory planning and stock control is a critical process within Supply Chain Management (SCM) which ensures continuity of supply of the inventory at the lowest cost. Effective inventory planning will help the SCM team improve the accuracy of forecasts, ensure enough inventory levels at all times, and enhance profitability by optimizing the expenses. The control side of this process is to ensure that plans are being met and to take the necessary actions when needed.
Demand planners are the "behind the scenes" professionals who are entrusted with this critical responsibility. When they do their job right, no one recognizes them. However, they will be noticed quickly when they fail to deliver, given the negative impact this will have on customer service and the bottom line.
In this course, many inventory planning theories, models and best practices will be discussed which will assist the participants deal with various future scenarios to ensure continuous flow of the inventory at the least possible cost.
The course uses a mix of interactive and hands-on techniques. Besides the brief presentations by the consultant and the participants, there will be many individual and group exercises. In these work related exercises participants need to calculate and draw the optimal solutions after understanding the process.
Those involved in inventory (materials) planning and stock control at the operational and supervisory levels. Also, those working in other functions of materials management (purchasing, stores, distribution) who need to understand the mechanics of inventory planning and stock control.
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