The Complete Course on Purchasing and Inventory Management

Start Date End Date Venue Fees (US $)
30 Nov 2025 Dubai, UAE $ 3,900 Register
07 Dec 2025 Muscat, Oman $ 4,500 Register

The Complete Course on Purchasing and Inventory Management

Introduction

This course examines the renewed emphasis on running organizations leaner, effectively, and efficiently. The renewed pressure to reduce cost as well as investment, while maintaining customer service levels is essential in world-class performance. Inventory Management is still one of the least understood practices in many companies and managers often fail to see the causal link between Inventory Management and good business results.

In addition, the mechanistic review of Min/Max reorder points will lead to disappointing results and in capital intensive companies, the value of spares in inventory often exceeds the value of all other inventory combined. Huge investments, excessive costs, and low availability of stock often cause a knee-jerk reaction instead of adopting sound inventory management principles.

This course will feature:

  • Reduction in inventory investment
  • Improved customer satisfaction
  • Reduced cost of running the inventory management function
  • Understanding inventory categories in management
  • Management of Stock Keeping Units in terms of their priorities

Objectives

    Upon the successful completion of this course, each participant will be able to:-

    • Understand the importance of inventory & the role it plays in the profitability of the company
    • Examine the most appropriate method for managing an item
    • Understand the value chain in inventory management
    • Apply best methods to optimize the investment in inventory
    • Examine the appropriate inventory management technique for each type of item

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practice. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

This training course is suitable for a wide range of professionals, but will greatly benefit:

  • Purchasing, Procurement, Contracts, Contract Administration, Projects Personnel
  • Engineering, Facilities, Finance, and Maintenance Personnel
  • Personnel Involved in the Planning and Management of Tender Process
  • Those Involved in Inventory Management as a Supplier, Buyer, Materials Planner, Warehousing, Finance or Even End-Customer
  • Those in General Management Wanting an Understanding of the Procurement and Inventory Processes

Course Outline

Day 1: Inventory in the Value Chain

  • The purpose of inventory in the value chain
  • Classification of inventory
  • Procedure for eliminating obsolete inventory
  • Pareto Law in identifying product Classification
  • Location of inventory
  • Using Economic Order Quantity on managing inventory order levels

Day 2: Demand Planning

  • Basic forecasting methods
  • Customer segmentation
  • Hierarchy of planning
  • Aggregate planning
  • Maintenance & Inventory planning meeting
  • Master Scheduling

Day 3: Forecasting

  • Principles of forecasting
  • Effect of lead time on the forecasting process
  • Quantitative forecasting
  • Qualitative forecasting
  • Tracking forecast accuracy
  • ·Determining safety stock

Day 4: Inventory Recording

  • Period stock take
  • Cycle counting
  • Perpetual recording
  • Utilizing Bar-cades to manage inventory and movements
  • The use of Radio Frequency Identification (RFID) for recording inventory movement
  • Inventory accounting

Day 5: Performance Measurement

  • Stock turnover rate
  • Customer service
  • Cost of operations
  • Measuring the effectiveness of your system
  • How to use the measurements
  • Class exercise on selective inventory management

Accreditation

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