Inventory Control and Costing

Efficiency in effective inventory management will always give a competitive edge to the business. This program provides you with the skills needed to good inventory management that improves the accuracy of inventory orders, leads to a more organized warehouse, helps save time and money, increases efficiency and productivity, and satisfies your customer.

Program Content

  • Inventory importance as part of the balance sheet
  • Inventory responsibilities and management
  • Inventory categories and types
  • Determining inventory levels
  • Essential calculations (EOQ) Economic Order Quantity
  • The 80/20 rule (ABC analysis)
  • Inventory management, safety and cost reduction
  • Ways of handling the idle inventory
  • Methods of calculating the inventory
  • Prevention concept of controlling the inventory

At program Completion; Participants will be able to:

  • Enhance professional portfolio of technical skills by mastering the major concepts, terms, definitions, tools and techniques to for inventory management
  • Describe the concepts of inventory and its essential role in meeting customer expectations
  • Identify strategies for establishing efficient, effective, and sustainable inventory management to reduce time and cost
  • Explain the critical role of technology in managing inventory and related operations for a better flow of material
  • Develop a business perspective of inventory management and control
  • Enhance professional portfolio of technical skills by mastering the major concepts, terms, definitions, tools and techniques to for production plan.
  • Describe the concepts of production and service operations and its essential role in meeting customer expectations
  • Identify strategies for establishing efficient, effective, and sustainable production planning and management to reduce time and cost
  • Explain the critical role of technology in managing production and related operations for a better flow of material
  • Develop a business perspective of production management and control
  • Managers, Executives and Professionals who are involved in supply chain management.
  • Professionals seeking in- depth knowledge and understanding of the Inventory Management and Control.
  • Program Language: English / Arabic
  • Program Duration: 12 hours
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