UKQ UK Approved Diploma in Inventory Control and Management Course In Pakistan (Rawalpindi, Peshawar)

UKQ UK Approved Diploma in Inventory Control and Management Course

The course follows a logical path through inventory management. To make this easier we have divided the material into four parts or modules.

Part I gives an overall introduction to inventory management. It discusses the movement of materials through supply chains, reasons for holding stocks, their importance, use, costs, and so on. There are essentially two approaches to inventory management: Independent demand methods, which assume that overall demand for an item is made up of a large number of independent, small demands from individual customers; dependent demand methods, which assume that there are some links between the demands for different items.

Part II of the course looks at independent demand inventory methods. This starts with the classic models of inventory control, which calculate an optimal order size under various conditions.

Part III discusses the information needed to support these methods, including information from the inventory management information system, forecasts of demand and planned operations.

Part IV describes dependent demand methods. The main approaches of this type are based on material requirements planning and just-in-time operations. Together, these four parts give a comprehensive review of current thinking and practices in inventory management.

There are ten modules or chapters in the course, each of which follows a consistent pattern with:

A list of aims, showing what you should be able to do after trainee of the course; A statement of the key concepts covered in the course; The main material in the course, divided into coherent sections; Summaries and review questions at the end of each section, with solutions to review questions at the end of the course; Worked examples to illustrate quantitative ideas; A review at the end of each module summarizing the material covered; A short project to encourage research into the subject; Problems to give practice in the quantitative analyses; Discussion questions to stimulate thinking and research.

Course Description:

This course is an introductory text and assumes no previous knowledge of inventory management, or experience in the area. This course is clearly written and takes a user-friendly approach, discussing ideas in an informative and easy style. This course develops material in a logical order, introducing ideas through examples and avoiding abstract discussion and unnecessary mathematics. This course includes many features, such as chapter aims, key concepts, worked examples, review questions and solutions, projects, discussion questions, additional problems and sources of further reading. This course is suitable for many types of people, including students doing a wide range of courses and practicing managers. Ideas about inventory management are changing very quickly, and this course gives an up-to-date view of thinking and practices. This course takes a broad view of the subject, discussing the context and links with other functions, including the strategic role of stock. This course includes associated material in an instructors’ manual, with a glossary, solutions to problems, spreadsheets, comments on discussion questions, etc.

Course Contents:

Introduction Inventory control and management:

Stocks and Inventories. Stocks within an Organization.

Methods for Independent Demand:

Economic Order Quantity. Models for Known Demand. Models for Uncertain Demand.

The Information for Inventory Management:

Sources of Information. Forecasting Demand. Planning and Stocks.

The Methods for Dependent Demand:

Material Requirements Planning. Limitations of independent demand methods. Approach of material requirements planning. Just-in-Time: Principles of just-in-time. Benefits and disadvantages of JIT. Extending JIT along the supply chain.

Who should take or profit for this course:

Supply Chain Managers. Working in Operations, Manufacturing or Service sectors, Production and Industry. Purchasing / Procurement, Logistics & Customer Relationship Managers. Financial Controllers, Accountants, Business Analysts & Consultants. Small Business Owners & Operations Managers. Ambitious Self-Starters who want to have a Bigger Impact at work, Improve Things and Get Noticed. People working in Production, Manufacturing, Industrial Operations, Business Operations. A Desire to Become the Authority in your workplace on Business Inventory Management.

Course objectives

To define and understand the concept of Supply Chain. To understand the role of inventory in Supply Chain. Critically determine the optimal amount of inventory required. Implement creative ways of reducing working capital. Understand the key concepts of inventory control. Understand and implement essential tools for managing warehouses and inventory in the wider supply chain.

Awarding Body:

United Kingdom Qualifications (UKQ) Limited today is an international awarding organisation, offering qualifications at different levels and in a wide range of subject areas. UK-Qualifications recognises the skills, knowledge and understanding achieved by a learner at a particular level and in a particular subject.

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