World Class Manufacturing

Modern Inventory Management System and Store & Warehouse Management

Inventory affects every aspects of business operation. Choosing the right Inventory Management System (Spare parts and RM) and techniques can help your business save money, meet customer demand, and stay efficient and effective in the growing business and world class manufacturing scenario.

It is a critical element of the supply chain, tracking of inventory from manufacture to warehouses and from these facilities to a point of sale. The goal of inventory management is to have right product, in the right place, in right quantity, at the right time.

Topics Covered

  • Definition and Objective
  • Supply Chain Management
  • Functions of Supply Chain Management
  • Importance of the Inventory Management
  • Types of Inventory Management
  • Impact of holding Inventory on Profit
  • Types of cost associated with inventory
  • Inventory Turnover Ratio
  • Procedure to follow to control inventory
  • Strategies for Inventory Management
  • Inventory Cash Release process (ICR) for spare parts management
  • International Commercial Terms
  • Types of Ware house and method for Preservation