Strategic Inventory Management Mastery: Tools, Techniques and Best Practices
Introduction
In today’s highly competitive environment, organisations are under increasing pressure to operate leaner, reduce costs, and maximise efficiency without compromising customer service. Effective inventory management is a critical driver of business performance, yet it remains one of the least understood functions in many companies. Poor practices often result in excessive costs, stockouts, and wasted investment.
This intensive programme explores modern approaches to inventory planning, control, and optimisation. Participants will gain practical skills in demand forecasting, stock prioritisation, cycle counting, and performance measurement. Special emphasis will be placed on aligning inventory strategy with organisational goals, applying technology such as RFID, and adopting best practices to deliver measurable improvements in profitability and service levels.
This course will feature:
* Proven methods to reduce inventory investment while improving service levels.
* Tools to align inventory management with the value chain.
* Demand forecasting and safety stock planning techniques.
* Application of technology for effective stock control (Barcodes, RFID).
* Performance measurement and continuous improvement frameworks.
Objectives
By the end of this course, participants will be able to:
* Understand the critical role inventory plays in profitability and competitiveness.
* Apply advanced methods for managing different inventory categories.
* Optimise stock levels through effective demand planning and forecasting.
* Use modern tools and technology to enhance inventory visibility and control.
* Establish performance measures that drive continuous improvement in inventory practices.
Course Content
Day One – Inventory in the Value Chain
* The purpose of inventory in the value chain
* Classification of inventory
* Eliminating obsolete stock
* Pareto Law and product prioritization
* Inventory location strategies
* Applying Economic Order Quantity (EOQ)
Day Two – Demand Planning
* Basic forecasting methods
* Customer segmentation
* Planning hierarchy
* Aggregate planning
* Maintenance and inventory planning meeting
* Master scheduling
Day Three – Forecasting
* Principles of forecasting
* Impact of lead time on forecasting
* Quantitative vs. qualitative methods
* Forecast accuracy tracking
* Safety stock determination
Day Four – Inventory Recording
* Periodic stocktaking and cycle counting
* Perpetual inventory recording
* Using barcodes to manage stock movements
* Leveraging RFID for inventory visibility
* Inventory accounting practices
Day Five – Performance Measurement
* Stock turnover analysis
* Linking customer service to inventory efficiency
* Cost of operations
* Measuring and improving inventory system effectiveness
* Class exercise: selective inventory management
Who Should Attend?
This course is designed for:
* Inventory Managers and Controllers
* Supply Chain, Logistics, and Operations Professionals
* Procurement and Purchasing Specialists
* Warehouse and Distribution Managers
* Finance professionals involved in working capital management
* Anyone responsible for stock control and inventory optimization
Training Methodology
The programme uses a mix of interactive training techniques, including group discussions, real-world case studies, practical exercises, and performance measurement simulations. Participants will gain hands-on experience in applying inventory optimization tools and will leave with practical strategies ready to implement in their organizations.
Enquiries and Registration
Enquiry at : admin@keleaders.com
Whatsapp: 0044 790 125 9494
For more details visit our website : www.keleaders.com
