CILT Module DIP05 Inventory

OVERVIEWThis course addresses application of inventory techniques within industry and its contribution to supply chain performance. It aims to show how effective inventory strategy can lead to competitive advantage through improvements in customer service, operational efficiency and the utilisation of company assets.
DURATION6 x 3 hours
DELIVERYVirtual workshop
Work-based activities, including presentations, group work and case studies
  • Understand the purpose of inventory management within a supply chain strategy.
  • Understand the different types of inventory and the “real” cost of holding stock.
  • Understand the principles of the traditional fixed period and fixed quantity models of inventory control.
  • Understand the impact of service levels and lead times on re-order level calculations.
  • Understand the development of modern inventory control techniques.
  • Know the benefits of “dynamic” stockholding models that incorporate demand forecasts, tracking signals and seasonality factors.
  • Know the different types of systems currently used by companies and the extent to which they use traditional inventory control models.
  • Understand how to organise inventory within a supply chain network to maximise customer service and operational efficiency.
  • Understand the potential advantages and disadvantages of Distribution Requirements Planning (DRP).

Please contact us on 1300 950 251 for further information and booking enquiries.