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

• Describe the objectives and functions of materials and supply chain management (stock control, purchasing, stores, and physical distribution) and explain how they relate to each other
• Categorize stock items based on the ABC classification model
• Calculate future demand for different stock items
• Identify Reorder Points (ROP), Economic Order Quantity (EOQ) and Safety Stocks (SS) for different stock items
• Apply the basic purchasing processes and use Incoterms appropriately
• Identify best practices in warehouses to maintain accurate inventory records
• List the various transportation functions and costs

Definition of materials and supply chain management

• Materials management scope
• The functions and objectives of materials management
• Types of inventory
• The importance of customer service in materials and supply chain
• Problems in materials management
• Computerized materials management applications

Inventory planning and stock control

• Inventory systems
• The ABC classification
• Application of the ABC classification

Forecasting and planning in materials management

• Typical demand trends
• Forecasting objectives
• Different forecasting models
• Qualitative forecasting
• Quantitative forecasting
• Evaluation of forecasts

Materials planning and control

• Inventory costs
• The economic order quantity model
• How to deal with constrained quantity discount schemes
• The importance of controlling lead time
• The maximum/minimum system
• Setting the reorder points
• Setting safety stocks

The purchasing function

• Basic purchasing process
• Skills of a purchasing professional
• Factors to consider when selecting suppliers
• Suppliers evaluation
• Changing trends in procurement
• Definition and application of Incoterms
• Negotiating with suppliers

The warehousing function

• Warehousing objectives
• Inventory record accuracy requirements
• Calculating record accuracy
• Periodic cycle counting
• How to improve record accuracy

The transport function

• Fleet and transport objectives
• Methods of transport
• Responsibilities of traffic
• Transport expenses
• Cost reduction opportunities
• Routing and cubing

Attendees will get training certificate after the completion of the course.