Course Objectives
CILT Endorsed Materials and Supply Chain Management - Virtual Learning
Course Objectives
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
Target Audience
Those involved in any function of materials and supply chain management (inventory, warehousing, purchasing and transportation) who are concerned with successfully providing acceptable customer or user service at a minimum cost. This course is also appropriate for anyone who needs to know more about the role of materials management.
Target Competencies
Logistics theory and practices
Planning and logistics work processes
Assessment and planning of requirements
Demand planning
Procurement
Warehouse management
Logistics and transportation management
Course Outline
Definition of materials and supply chain managementMaterials management scopeThe functions and objectives of materials managementTypes of inventoryThe importance of customer service in materials and supply chainProblems in materials managementComputerized materials management applications
Inventory planning and stock controlInventory systemsThe ABC classificationApplication of the ABC classification
Forecasting and planning in materials managementTypical demand trendsForecasting objectivesDifferent forecasting modelsQualitative forecastingQuantitative forecastingEvaluation of forecasts
Materials planning and controlInventory costsThe economic order quantity modelHow to deal with constrained quantity discount schemesThe importance of controlling lead timeThe maximum/minimum systemSetting the reorder pointsSetting safety stocks
The purchasing functionBasic purchasing processSkills of a purchasing professionalFactors to consider when selecting suppliersSuppliers evaluationChanging trends in procurementDefinition and application of IncotermsNegotiating with suppliers
The warehousing functionWarehousing objectivesInventory record accuracy requirementsCalculating record accuracyPeriodic cycle countingHow to improve record accuracy
The transport functionFleet and transport objectivesMethods of transportResponsibilities of trafficTransport expensesCost reduction opportunitiesRouting and cubing