Store & Inventory Management
This course captures the importance of inventory management based on policies established in the company. It covers how to analyze safety stock, what is risk pooling of inventory, and understand what are inventory management best practices
Learning Outcomes
At the end of the programme, participants will able to:
- Explain the importance of store and inventory
- Describe why it is important to plan and control inventory levels
- Design and confidently use tools for monitoring inventory performance
- Apply the latest team development techniques to improve performance
- Understand thoroughly the fundamentals of inventory management
- Best practices in managing stores & inventories, store accounts and records
Programme Outline
Inventory Review Policies
- Describe the characteristics of a Continuous Review System
- Describe the characteristics of a Periodic Review System
- Perform calculations for a Continuous Review System –> (s, Q) system
- Perform calculations for a Periodic Review System à (R, S) system
Safety Stock Analysis
- Describe the objectives of carrying safety stock
- Calculate the safety factor for a specified customer service level
- Calculate the appropriate level of safety stock and reorder point for a specified customer service level
Risk Pooling
- Centralization vs Decentralization of warehousing system
- Understand the pros and cons
- Compare Safety Stock, Reorder Point for Centralized vs Decentralized warehousing system
Inventory Management Best Practices
- Understand the concepts of Kanban, JIT, VMI
- Effective inventory & stores management as a strategic function of the organization
- Strategies & skills for reducing inventory investments;
- Best practices in managing stores & inventories, store accounts and records
Delivery Method
Well-balanced theoretical and practical methodology, which includes interactive discussions, case studies, interactive activities/exercises and assignments to understand the concepts and their applicability.
Course Includes
- 5-Day Training
- Course Notes
- Stationary
- Nationally Recognized and Internationally Accredited Certification
- Tea/Coffee Breaks
- Training materials (Soft file)
Evaluation Criteria
Participants must have attended the sessions at least 80% in order to receive a CERTIFICATE from Bangkok School of Management.
Training Date
| Month | Day(s) | Year |
| January | 8-12 | 2024 |
| January | 22-26 | 2024 |
| February | 5-9 | 2024 |
| February |
19-23 | 2024 |
| March | 4-8 | 2024 |
| March | 18-22 | 2024 |
| April | 1-5 | 2024 |
| April | 22-26 | 2024 |
| May | 13-17 | 2024 |
| May | 27-31 | 2024 |
| June | 10-14 | 2024 |
| June | 24-28 | 2024 |
| July | 1-5 | 2024 |
| July | 15-19 | 2024 |
| August | 5-9 | 2024 |
| August | 26-30 | 2024 |
| September | 2-6 | 2024 |
| September | 16-20 | 2024 |
| October | 7-11 | 2024 |
| October | 28 - November 1 | 2024 |
| November | 4-8 | 2024 |
| November | 18-22 | 2024 |
| December | 2-6 | 2024 |
| December | 16-20 | 2024 |
Certification
BSM Certification is recognized nationally by Thailand Ministry of Education & Internationally accredited by Accreditation Service for International Schools, Colleges and Universities (ASIC, U.K.)
