Inventory Control Techniques and Optimization Course

Introduction

This course provides participants with practical knowledge and modern strategies to effectively control, monitor, and optimize inventory levels across supply chains. Participants will learn techniques to reduce inventory costs, enhance service levels, and apply technology for real-time inventory management. The course emphasizes both traditional approaches and emerging trends such as AI-based forecasting, IoT in inventory tracking, and sustainability-driven inventory control.

Target Participants:

• Inventory Managers
• Supply Chain Officers
• Warehouse Managers
• Procurement Specialists
• Logistics Professionals
• Operations Analysts
• ERP System Users
• Professionals involved in stock planning and control

Duration

5 Days

Course Objectives:

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

1. Understand key inventory control principles and systems.
2. Apply modern techniques for optimizing inventory performance.
3. Leverage digital tools and data analytics for inventory decisions.
4. Evaluate the financial impact of inventory strategies.
5. Integrate sustainability and resilience into inventory practices.

Course Outline:

Day 1: Introduction to Inventory Control and Management

• Types and functions of inventory
• Inventory costs and trade-offs
• Inventory classification methods (ABC, VED, FSN, XYZ)
• Inventory policies: continuous vs periodic review
• Case study: Inventory mismanagement consequences

Day 2: Forecasting and Demand Planning

• Basics of demand forecasting techniques
• Quantitative vs qualitative forecasting
• Safety stock calculation
• Forecast accuracy and inventory decisions
• Use of Excel and software tools in forecasting
• Emerging topic: AI and machine learning in demand forecasting

Day 3: Inventory Optimization Strategies

• Economic Order Quantity (EOQ) and reorder point systems
• Just-In-Time (JIT) and Lean Inventory
• Materials Requirement Planning (MRP) and ERP integration
• Stock replenishment models
• Optimization under uncertainty and variability
• Case study: Inventory optimization in a multinational company

Day 4: Technology in Inventory Control

• Inventory management systems and barcoding
• RFID, IoT, and sensor-based inventory tracking
• Automation and warehouse robotics
• Real-time visibility and cloud-based inventory tools
• Data analytics in stock control
• Emerging topic: Blockchain applications in inventory transparency

Day 5: Sustainable and Resilient Inventory Management

• Green inventory strategies and reverse logistics
• Minimizing obsolete and excess stock
• Circular economy principles in inventory
• Risk mitigation in inventory disruptions
• Inventory audits and performance metrics
• Group simulation: Designing an optimized and sustainable inventory system

Training Methodology:

• Interactive presentations and expert lectures
• Hands-on exercises using Excel/ERP systems
• Group case studies and simulations
• Industry best practice sharing
• Quizzes and progress assessments
• Post-training action planning

Training manuals and additional reference materials are provided to the participants.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: training@upskilldevelopment.com Tel: +254 721 331 808

Training Venue

The training will be held at our Upskill Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Upskill certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: training@upskilldevelopment.com, +254 721 331 808

Terms of Payment

Unless otherwise agreed between the two parties’ payment of the course fee should be done 3 working days before commencement of the training so as to enable us to prepare better.