inventory management

  • The Programme in Inventory Management is a practical programme that deals with inventory optimization and the effect inventory levels have on organizational profitability.
  • The use and benefit of computerized inventory control techniques are elaborated on.
  • Instruction is highly participative, with the emphasis on case studies and group work.
  • Our Training Facilitators are experienced senior managers within the supply chain profession. 

 

 

Duration

4 days full-time (weekdays) or 9 weeks part-time (Saturday mornings) or 2-12 months by correspondence. The average learner will need approximately 110 hours (11 notional credits), consisting of 36 hours of tuition and 74 hours for readings and assignments, to successfully complete the programme. 

Assessment

9 written assignments (one following the completion of each learning module) and 1 final written examination. 

Accreditation

MERseta accreditation number 17-QA/acc/0724/12. The abovementioned course is aligned with SAQA Qualification ID number 50459 with qualification title: National Diploma: Production and Inventory.  The learning sub-field is Procurement and the minimum no of credits is 120.

Course Objectives

1. Develop an awareness of the importance and value of an efficient inventory operation.

2. Conduct a detailed study of accounting and record keeping tools available to management.

3. Introduce students to sophisticated inventory management systems.

Course Content

  1. Objectives And Policy Development: Objectives of inventory management; aggregate inventory management; functions of inventory; customer service; efficiency of inventory; ROI financial analysis; external influences; ABC analysis; demand and supply; types of inventory
  2. Accounting And Physical Control: Accounting procedures and physical control; perpetual vs. periodic valuation methods; inventory classification
  3. Relationship To Other Business Functions: Other production & inventory control activities; other functions including marketing; finances; engineering; production; quality assurance; distribution; purchasing; master planning; capacity management; MRP; execution & control
  4. Systems Development: Management of supply and demand; cost parameters; forecast accuracy; variability of supply and demand; unit costs; cutting costs; storage costs; service levels; back-orders; response time
  5. Lot Sizing EOQ: models; Time placed lot sizing; module variations; instantaneous receipts; quantity discounts; dynamic programming; part period balancing; joint ordering; constrained optimization
  6. Independent Demand Systems: Basic systems; safety stock modules; order points; periodic review; hybrid systems; time phased order point; joint replenishment; lot size and safety interaction
  7. Dependent Demand Systems: When to use MRP; mechanics of MRP; limitations of MRP; safety stock in MRP
  8. Stores Operations -Material Handling And Facilities: Functions of stores buildings; construction & layout; stockyards; functions of stores equipment; methods of material handling; selecting materials handling systems; materials flow; centralized departmental stores
  9. Distribution Management: Objectives and planning; distribution policy; inventory; planning and control; decentralized control; forecasting by SKB; DRP; network structure; replenishment; allocation; push/pull; double order point

Further information regarding latest course dates for full-time and part-time enrolment, course fees, enrolment forms and any other queries, please contact: 

Cape Town: 021 855 2693

Johannesburg : 011 865 5443

The content of this brochure, accurate at time of going to print, is subject to change without notification due to legislation, market requirements or any other reason. Due to legislative action pending at the time of print, the terms “Programme”, “Diploma” and “Advanced Diploma” may require alteration due to Government requirement. PSM College reserves the right to change the course content without notice.