The Complete Course on Purchasing and Inventory Management

• 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 optimize the investment in inventory

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.

1ST BATCH:       27th – 29th May, 2020     

2ND BATCH:      10th – 13th November, 2020

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

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

 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

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

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 E-Procurement business process

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

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