Global Learning for Operational Leaders
Course PSCM-016
Certificate in Inventory Management Best Practices
Effective inventory management is essential for balancing customer demand, controlling operational costs, and ensuring s... The outline covers Inventory Management Fundamentals and Value Chain Integration, Demand Plannin...
Classroom
0 sessionsOnline / Live
0 sessionsIntroduction
Course overview
Why Attend
Effective inventory management is essential for balancing customer demand, controlling operational costs, and ensuring smooth supply chain performance. This course provides participants with practical methods and industry best practices for managing inventory efficiently, improving forecasting accuracy, reducing excess stock, and measuring inventory performance for better business outcomes.
Course Methodology
The course uses an interactive and practical methodology including presentations, case studies, real-life inventory scenarios, group discussions, calculations, practical exercises, inventory simulations, and hands-on applications to strengthen workplace implementation.
Course Objectives
By the end of this course, participants will be able to:
- Understand the role of inventory within the supply chain and value chain
- Apply inventory classification techniques and inventory control methods
- Improve demand planning and forecasting effectiveness
- Utilize inventory recording and tracking systems efficiently
- Reduce inventory-related costs while maintaining service levels
- Measure and improve inventory performance
- Implement inventory best practices and continuous improvement strategies
Target Audience
- Inventory managers and supervisors
- Warehouse professionals
- Supply chain and logistics personnel
- Procurement professionals
- Materials planners
- Operations and production staff
- Professionals responsible for stock control and inventory management
Target Competencies
- Inventory management
- Demand planning
- Forecasting techniques
- Inventory control systems
- Data analysis and reporting
- Supply chain coordination
- Performance measurement
- Decision-making and problem-solving
What you will achieve
Learning objectives
- Understand the role of inventory within the supply chain and value chain
- Apply inventory classification techniques and inventory control methods
- Improve demand planning and forecasting effectiveness
- Utilize inventory recording and tracking systems efficiently
- Reduce inventory-related costs while maintaining service levels
- Measure and improve inventory performance
- Implement inventory best practices and continuous improvement strategies
Who should attend
Target audience
- Inventory managers and supervisors
- Warehouse professionals
- Supply chain and logistics personnel
- Procurement professionals
- Materials planners
- Operations and production staff
- Professionals responsible for stock control and inventory management
- Target Competencies
Methodology
Learning approach
- The course uses an interactive and practical methodology including presentations, case studies, real-life inventory scenarios, group discussions, calculations, practical exercises, inventory simulations, and hands-on applications to strengthen workplace implementation.
Course content
Five focused days of learning and application
Day 1
Inventory Management Fundamentals and Value Chain Integration
- Understanding the role and purpose of inventory within organizational operations
- Examining different categories and classifications of inventory items
- Identifying and managing excess and non-moving inventory effectively
- Applying inventory prioritization methods for stock categorization and control
- Understanding inventory placement strategies across the supply chain
- Using inventory optimization techniques to determine appropriate replenishment quantities
Day 2
Demand Planning and Inventory Coordination
- Understanding core demand planning concepts and approaches
- Applying customer segmentation methods to support planning activities
- Exploring different levels of planning and operational alignment
- Developing integrated planning approaches for inventory and operational needs
- Coordinating planning activities across functions and departments
- Understanding scheduling principles to align demand and inventory requirements
Day 3
Forecasting and Safety Stock Management
- Understanding forecasting principles and their impact on inventory performance
- Evaluating the relationship between lead times and planning effectiveness
- Applying quantitative methods for forecasting future demand patterns
- Exploring qualitative forecasting techniques and judgment-based approaches
- Measuring forecast reliability and monitoring performance trends
- Establishing appropriate inventory buffers and safety stock levels
Day 4
Inventory Control Systems and Recording Processes
- Understanding different inventory counting and verification methods
- Applying periodic and continuous inventory monitoring techniques
- Managing inventory records and maintaining data accuracy
- Using barcode systems to improve stock identification and movement tracking
- Understanding technology solutions for automated inventory monitoring
- Reviewing inventory valuation and accounting principles
Day 5
Inventory Performance and Continuous Improvement
- Measuring inventory movement and utilization efficiency
- Evaluating customer service and inventory availability performance indicators
- Understanding operational costs associated with inventory activities
- Assessing overall inventory system effectiveness
- Using performance data to support decision-making and improvements
- Practical exercise on inventory analysis and selective inventory control techniques
FAQ
Frequently asked questions
What does Certificate in Inventory Management Best Practices (PSCM-016) cover?
This course covers Procurement and Supply Chain Management through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on Schedule on request, with additional classroom dates and mirrored Online / Live options listed in the course schedules section.
Who should attend this course?
Inventory managers and supervisors, Warehouse professionals, Supply chain and logistics personnel
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Yes. The course detail page includes both classroom sessions and Online / Live sessions, with online options aligned to the same course dates for easier planning.
Where are classroom sessions delivered?
Classroom venues are confirmed in the schedule panel for each published session.
Still Have Questions?
Contact the academy team for course details, delivery options, and delegate guidance.
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