In this Inventory Classification training course, you will learn to categorise inventory items based on their importance, value, and characteristics. You will learn to manage the inventory more efficiently by identifying which items are most critical to the operations and requires closer attention, and which ones are less important and can be managed more flexibly. Overall, inventory classification is an essential tool for businesses to manage their inventory more effectively and efficiently, reduce costs, and improve customer service levels.
The faculty has designed this programme after thorough market research. In the course of conducting various training programmes related to the SCM, the faculty has observed most of the organisations do not conduct a proper inventory classification. Even if it is done, they barely restrict it to ABC analysis. However, to manage the inventory merely restricting the classification to one type is not sufficient. The faculty has designed this programme so that the participants can start using other types of classification and thereby take informed decisions.
By attending Inventory Classification workshop, delegates will
- Learn How to categorise the material and thereby improve the efficiency of the purchase and stores department
- Be able to take a scientific decision on how much quantity to order when suppliers give various price discounts
- Be able to take a scientific decision on how much quantity to keep in the warehouse thereby avoiding excess quantity or inadequate stock.
- This Inventory Classification training course will be conducted in English only. There will be few numerical exercises and participants are expected to have above-average calculation abilities.
The Inventory Classification class is ideal for:
- Inventory Planners or Inventory Analysts, Purchase Managers, Warehouse Managers, Supply Chain Managers and professionals from sectors like retail, healthcare, pharmaceutical, FMCG etc.