Procurement Planning and Inventory Management

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

• Develop strategic purchasing plans & discuss how to improve internal customer service
• Explore many ways of reporting key performance indicators (KPIs)
• Understand the most important competencies for purchasing personnel
• Understand the importance of inventory & the role it plays in the profitability of the company
• Apply best methods to optimise the investment in inventory

CONTENT

The 1st Steps to Becoming World Class

• Stages To World Class Purchasing
• How Purchasing is viewed today
• Strategic Sourcing
• Developing Spend Profiles and the ABC Analysis
• New Job Descriptions For Purchasing of the future
• Purchasing Personnel Required Skill Sets

Evaluating Your Own Operation

• What are Best Practices
• Purchasing Gap Analysis
• Vision and Mission for Purchasing
• Developing The Purchasing Department Strategic Plan
• Developing Key Performance Indicators (KPIs) For Procurement
• Developing A Company Purchase Price Index

Continuous Improvement and How to Get It

• Cost Reduction Initiatives
• Methods of Cost Containment
• Waste In The Supply Chain
• Breaking Down The Elements Of Supplier Cost
• Commodity/Service Strategic Planning
• Resisting Price Increases

Supplier Management Approaches

• Supplier Classification System
• Supplier Qualification Methods
• Supplier Performance Metrics
• Apply Performance criteria to Purchasing Decisions
• Process Mapping To Eliminate Low Value Activities
• Applying eProcurement business process

Improving the Image of Procurement

• Global Sourcing
• International Labor Rates Comparison
• Developing and Maintaining a Customer Focus
• Basic Issues In Corruption And Fraud Prevention
• Increasing The Level of Procurement Professionalism
• Keeping Current in the profession

The Complete Course on Inventory Management

Inventory in the Value Chain

• The purpose of inventory in the value chain
• Classification of inventory
• Procedure for eliminating obsolete inventory
• Pareto Law in identifying product Classification
• Location of inventory
• Using Economic Order Quantity on managing inventory order levels

Demand Planning

• Basic forecasting methods
• Customer segmentation
• Hierarchy of planning
• Aggregate planning
• Maintenance & Inventory planning meeting
• Master Scheduling

Forecasting

• Principles of forecasting
• Effect of lead time on the forecasting process
• Quantitative forecasting
• Qualitative forecasting
• Tracking forecast accuracy
• ·Determining safety stock

Inventory Recording

• Period stock take
• Cycle counting
• Perpetual recording
• Utilizing Bar-cades to manage inventory and movements
• The use of Radio Frequency Identification (RFID) for recording inventory movement
• Inventory accounting

Performance Measurement

• Stock turnover rate
• Customer service
• Cost of operations
• Measuring the effectiveness of your system
• How to use the measurements  
• Class exercise on selective inventory management

FOR WHOM: Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Date:

1ST BATCH                        2nd – 5th July, 2019                                              

2ND BATCH                       10th – 13th December, 2019