Workshop on Management and Control of Stores Operations

Program overview:

Store management plays a strategic role in the supply chain of an organization. In the current and highly competitive business environment coupled with economic constraints, every organization is encouraged to adopt measures that will contribute to minimizing the level of investment in materials stock for realizing its corporate objectives.

This workshop is designed to equip participants with up-to-date techniques of managing their organization’s material stocks and help their organizations improve on their capacity, schedule production and manage inventory better.

For whom:

This program is designed for Store managers, Store supervisors, purchasing officers, Stock valuation and verification officers Project Managers, Accountants and Auditors.

Learning objectives:

At the end of the program, participants will able to:

*          familiarize themselves with the basic precepts of store keeping and inventory management;

*          appreciate the importance of safety in store keeping;

*          appreciate the concept and effectiveness of integrated approach to material management;

*          identify methods of fraud prevention and control in stores; and

*          apply appropriate techniques for stock evaluation and inventory control/management.

Course outline:

Day 1: Effective Store Keeping as a profit Centre     

• It’s contribution to profit making
• – Stores functions, –         Stores responsibilities
  • Stock standardization & variety reduction
  • Stock identification system
• Stores Management
  • Goods Receiving Procedures
  • Issues and Distribution Procedures
  • Procedures for shortages, transfers, and returns
• Inventory Planning and Control Techniques
  • Stock replenishment (provisioning) Procedures
  • Stock Control Models
• Management of Stock Levels
  • Economic Order Quantities (EOQ)
  • Two Bin System
  • Cyclical Provisioning
  • MRP 1
  • MRP 11
  • ABC Analysis / Pareto principle

Day 2: Stores Safety and Security

• Security and safety in store house
  • Security of building and premises
  • Fire prevention / management
• Material handling
  • Importance of Positive Attitude
  • Developing positive work attitude

in the store house

• Stores Accounting
  • Material Budgeting
  • Cost – Volume-Profit analysis
  • Stock Accounting
  • Accounting for Materials Issues,

Returns, and Transfers

• Computer application for store keeping and inventory

Training Methodology

Lectures, discussions, exercises, case studies, audio-visual aids will be used to reinforce these teaching/learning methods.