Stock Taking, Valuation and Stock Recording

Participants will learn how the stock taking, Valuation and stock recording function affect and contributes to both the profitability and efficiency of an organization and the importance of controlling inventory. Participants are made to know the significant investment stock represents and the necessity for strict control and techniques for the efficient Stock taking, Valuation and stock recording are explained along with emphasis on practical issues such as security, stock accuracy, optimizing the use of space, reducing surplus and obsolete stock and stocktaking.

CONTENT:

Stock Accuracy / Stock Recording

· Necessity for Accuracy

· Causes of Stock Errors

· Getting Stock Accuracy

· Receipts & Issues Procedures

· Data Collection, Capture, Transfer and Bar Coding.

Stores/Warehouse Planning and Design

· Layout Planning, Receipts and Issues

· Optimizing the Efficiency of the Storage Area

· Storage Equipment and Materials Handling Equipment.

Order Picking & Stock Issues

· Stock Retrieval

· Improving Speed & Accuracy

· Order Picking Methods

· Random & Combined Stock Location Systems.

Stocktaking

· Purpose

· Periodic Stocktaking or Cycle Stocktaking

· Treatment of Discrepancies

· Surplus, Obsolete and Redundant (‘SLOB’) Stock

· Reducing ‘SLOB’ Stock.

Measuring Performance in stock taking, Valuation and Stock recording

· Key Performance Indicators (KPI’s)

· What should be measured?

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