Effective Warehouse & Inventory Cost Management
Introduction
In today highly competitive and open market environment, the profit margin has narrowed drastically, the ability to manage warehouse cost effectively is paramount. As any saving in warehouse and inventory cost, goes directly to the profit margin. Productive management of the warehouse and inventory functions is essential for the dynamic support of an organisation’s operations. This program aims to furnish the participants with the updated know-how of activities and methodology involved in Inventory Control & Management.
It also aims to improve the knowledge of the participants on the best-in-class methods to reduce and manage the warehouse operation cost effectively. To increase customer satisfaction, reduce obsolete inventory, and optimize supply chain costs, these functions need to be strategically controlled. Today’s supply chain practitioners must have expertise in cutting-edge storage and inventory management solutions.
Participants will learn the fundamentals of strategic warehousing and inventory management throughout this training, as well as the best ways to manage inventory and warehouse.
Course Objectives
By the end of this course, you will be able to:
- Understand the essentials of warehouse operations
- Understand the systems used to manage warehousing and stores activities effectively
- Increase efficiency and accuracy, traceability
- Understand the significance of cost management in warehouse and inventory operations.
- Identify and analyze key cost drivers in warehousing and inventory management.
- Implement strategies to optimize inventory levels and reduce costs.
- Develop efficient warehouse layouts to minimize costs and maximize productivity.
- Implement inventory tracking and control systems to enhance accuracy and reduce errors.
- Implement cost reduction techniques and waste elimination strategies in warehouse operations.
- Establish relevant key performance indicators (KPIs) and metrics to measure warehouse and inventory performance.
- Utilize technology and automation solutions to improve warehouse operations.
- Foster a culture of continuous improvement and apply best practices in warehouse and inventory cost management.
- Develop the right attitude and mindset as a professional Warehouse professional.
By achieving these learning outcomes, participants will be equipped with the knowledge and skills to effectively manage warehouse and inventory costs, improve operational efficiency, and drive cost savings in their organizations.
Methodology
This stimulating program will maximize understanding and learning through Interactive Lectures, Course notes, Videos, Learning Assessments after every module.
Who Should Attend?
Warehouse managers, inventory managers, supply chain professionals, operations managers, and anyone involved in warehouse and inventory management.
Training Delivery
- Face-to-Face Training
or
- Remote Online Training via Zoom Platform
- Day One
- Day Two
Day One
MODULE 1: INTRODUCTION TO WAREHOUSE AND INVENTORY COST MANAGEMENT
MODULE 2: INVENTORY MANAGEMENT STRATEGIES
MODULE 3: WAREHOUSE LAYOUT AND DESIGN FOR COST EFFICIENCY
MODULE 4: INVENTORY TRACKING AND CONTROL SYSTEMS
MODULE 5: WAREHOUSE PROCESSES AND OPERATIONS
Day Two
MODULE 6: COST REDUCTION TECHNIQUES IN WAREHOUSING
MODULE 7: TECHNOLOGY AND AUTOMATION IN WAREHOUSE OPERATIONS
MODULE 8: KEY PERFORMANCE INDICATORS (KPIS) AND METRICS
MODULE 9: SUSTAINABILITY AND ENVIRONMENTAL CONSIDERATIONS
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