Inventory Planning and Stock Control
ABOUT THE COURSE:
Inventory control otherwise known as stock control, involves regulating and maximising your company’s inventory. The goal of inventory control is to maximise profits with minimum inventory investment, without impacting customer satisfaction levels. Inventory control is also about knowing where all your stock is and ensuring everything is accounted for at any given time.
Inventory planning refers to the process that any organization adopts to determine the optimal quantity as well as timing, with the sole aim of aligning such plans with the organization’s capacity to produce and make sales. Inventory planning, usually affects the company in a number of ways. For example, it directly determines the cash flow of any organization and its profits margins with reference to those that have an over reliance on fast turnovers of materials and goods.
Evidently, inventory planning is an important aspect of any business’s success.
Stock control, otherwise known as inventory control, is used to show how much stock you have at any one time and how you keep track of it. It applies to every item you use to produce a product or service, from raw materials to finished goods. It covers stock at every stage of the production process, from purchase and delivery to using and re-ordering the stock.
Efficient stock control ensures that capital is not tied up unnecessarily, and protects production if problems arise with the supply chain.
This Course explains different stock control methods, shows you how to set one up.
Training and Resource Centre: 12, Karaye Street, Off Ladoke Akintola Boulevard, Garki 2, Abuja.
Phone Number: 09091111114 or 07089024098