Training in Computerised Stock Policy and Management is a comprehensive and essential training programme designed to provide participants with in-depth, practical knowledge of the effective management of inventories and stock levels in the contemporary business environment. Stock management plays a critical role in the success of any business, as it directly influences the customer satisfaction, operating costs and profitability. This course covers all the essential aspects of stock management, from the basics to the implementation of advanced IT systems.
Sector-specific
Retail
40 hours
Computerised Stock Policy and Management
Retail
40 hours
Introduction
Objectives
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Understanding the key principles of the stock management and its significance in commercial operations.
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Developing numeracy skills stock levels, manage orders and carry out stock-taking.
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Familiarise yourself with the costs related to supply and storage.
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Mastering the computerised management inventory management and its practical application.
Table of Contents
TEACHING UNIT 1. STOCK MANAGEMENT
1. Objectives of stock management.
2. Types of stock.
3. Types of warehouse replenishment.
4. Calculating stock levels.
5. Basic parameters.
6. Anticipated demand.
7. Order management.
8. Valuation of stocks.
9. Stock levels.
10. Warehouse accounting.
11. Reports, forms.
12. Key factors in stock management.
TEACHING UNIT 2. COSTS
1. Procurement costs.
2. Storage costs.
TEACHING UNIT 3. INVENTORIES
1. The concept and types of inventories.
2. Carrying out stock-takes: methods and documents.
3. Valuation of inventories.
TEACHING UNIT 4. SUPPLY FACTORS
1. Factors to bear in mind in stock management.
2. Cost representation.
3. Wilson’s model. Economic order quantity and minimum total cost.
4. Stock management in the event of a stock-out.
5. Cost function for uniform replenishment.
6. Issues relating to stock management.
TEACHING UNIT 5. STOCK MANAGEMENT SYSTEMS
1. Time-based scheduling for instant replenishment.
2. Replenishment based on stock levels and reorder points.
3. Economic order quantity system.
4. Standardised replenishment system.
5. Values to be determined for monitoring stock levels in a warehouse.
6. A graphical representation of the supply chain.
7. Ratios for stock control.
8. Information technology in stock management.
TEACHING UNIT 6. COMPUTERISED MANAGEMENT
1. The need for management.
2. Accounting obligations.
3. Planning.
4. Challenges: Time/Work.
5. Management information systems.
6. Examples of computerised management and planning.
TEACHING UNIT 7. MASTER FILES.
1. Inmates.
2. External.
TEACHING UNIT 8. FORECASTING AND PLANNING
1. Purchasing, sales and stock statistics.
2. Planning budgets.
3. Financial and commercial ratios.
4. Cost analysis.
5. Financial viability.
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