Material Inventory Management

Course Title Course Language Est.Duration-days Est.Duration-Hours
Material Inventory Management English 4 28

Learning Objective

By the end of the course, participants will be able to:

  • Describe the objectives and functions of materials and supply chain management (stock control, purchasing, stores, and physical distribution) and explain how they relate to each other
  • Categorize stock items based on the ABC classification model
  • Calculate future demand for different stock items
  • Identify Reorder Points (ROP), Economic Order Quantity (EOQ) and Safety Stocks (SS) for different stock items
  • Apply the basic purchasing processes and use Incoterms appropriately
  • Identify best practices in warehouses to maintain accurate inventory records
  • List the various transportation functions and costs

Course Contents

Definition of materials and supply chain management

  • Materials management scope
  • The functions and objectives of materials management
  • Types of inventory
  • The importance of customer service in materials and supply chain
  • Problems in materials management
  • Computerized materials management applications

Inventory planning and stock control

  • Inventory systems
  • The ABC classification
  • Application of the ABC classification

Forecasting and planning in materials management

  • Typical demand trends
  • Forecasting objectives
  • Different forecasting models
  • Qualitative forecasting
  • Quantitative forecasting
  • Evaluation of forecasts

Materials planning and control

  • Inventory costs
  • The economic order quantity model
  • How to deal with constrained quantity discount schemes
  • The importance of controlling lead time
  • The maximum/minimum system
  • Setting the reorder points
  • Setting safety stocks

The purchasing function

  • Basic purchasing process
  • Skills of a purchasing professional
  • Factors to consider when selecting suppliers
  • Suppliers evaluation
  • Changing trends in procurement
  • Definition and application of Incoterms
  • Negotiating with suppliers

The warehousing function

  • Warehousing objectives
  • Inventory record accuracy requirements
  • Calculating record accuracy
  • Periodic cycle counting
  • How to improve record accuracy

The transport function

  • Fleet and transport objectives
  • Methods of transport
  • Responsibilities of traffic
  • Transport expenses
  • Cost reduction opportunities
  • Routing and cubing


Attendees will get training certificate after the completion of the course.