Stock Control

Learning Outcomes:

By the end of the course, participants will:
• Develop an understanding of the Importance of Stock Control;
• Better understand the problems of having too little stock;
• Understand the damage to a business’s cashflow, of having too much stock;
• Be better able to identify ‘redundant’ or ‘obsolete’ stock;
• Develop and Maintain Good Stock Control Practices;
• Understand that everyone in the business, regardless of their level, can make a positive contribution in this area.

Course Content

• How Much To Order
  Holding Adequate Stock
  Not holding enough stock
  When is it appropriate to order higher than normal quantities?
  Effect of Discounts
  Long Terms Agreements
  Lead times
• Systems of Stock Control
  Basic Stock Cards
  Computer Systems
  A brief view of latest technology
• Forecasting Demands
  Demand Patterns
  Seasonal Effects
  Trends
  Obsolete, Redundant and Surplus Stocks
• Stocktaking
  Reasons for Stocktaking
  Need for Accuracy
• When to Order
  Safety Stocks & Re-Order Levels
  Stock turn – why it should be improved and the resulting affects

Who Should Attend

This Stock Control course is designed for staff at all levels in a business. A pre-course questionnaire is used to customise the course for the particular attendants and the trainer will focus on how each “can make a difference” in their day-to-day roles.

Methodology

The trainer will use a number of classroom-based practical exercises including  “How many should be ordered”, using stock cards to set order quantities and stock turn improvement. This will be combined with shop-based exercises for participants to practice in their own time, along with discussions about the changes the group will make to their roles and to their business following the course.