Materials Management
Materials management is an essential function governing the flow of materials through a supply chain. This course brings you up to date with the latest logistics models and practices. The course’s main focus is on the optimization of transport, warehouse and inventory management activities. In addition, it covers the SCOR Framework for managing logistics. We will use exercises as well as regional and international case studies
· Describe the objectives and functions of materials and stock control, purchasing, stores and distribution
· Categorize stock items based on the ABC classification model
· Calculate future demand for different stock items
· Identify Reorder Points (ROP), Economic Order Quantity (EOQ) and Safety Stocks (SS)
· Apply the basic purchasing processes and use Incoterms appropriately
· Identify best practices in warehouses to maintain accurate inventory records
· List the various transportation functions and costs
Definition of materials management
· Materials management scope
· The functions and objectives of materials management
· Types of inventory
· Customer service in materials
· Problems in materials management
· Computerized materials management applications
Inventory Planning and stock control
· Inventory systems
· The ABC classification
· Application of the ABC classification
Materials Forecasting & Planning
· Typical demand trends
· Forecasting objectives
· Different forecasting models
· Qualitative forecasting
· Quantitative forecasting
· Evaluation of forecasts
Materials Planning & Control
· Inventory costs
· The economic order quantity model
· How to deal with constrained quantity discount schemes
· The importance of controlling lead time
· The maximum/minimum system
· Setting the reorder points
· Setting safety stocks
Purchasing
· Basic purchasing process
· Skills of a purchasing professional
· Factors to consider when selecting suppliers
· Suppliers evaluation
· Changing trends in procurement
· Definition and application of Incoterms
· Negotiating with suppliers
Warehousing
· Warehousing objectives
· Inventory record accuracy requirements
· Calculating record accuracy
· Periodic cycle counting
· How to improve record accuracy
Transport
· Fleet and transport objectives
· Methods of transport
· Responsibilities of traffic
· Transport expenses
· Cost reduction opportunities
Routing and cubinga
Those involved in any function of materials and supply chain management (inventory, warehousing, purchasing and transportation) who are concerned with successfully providing acceptable customer or user service at a minimum cost. This course is also appropriate for anyone who needs to know more about the role of materials management.