Inventory Planning and Stock Control – Level 1

Introduction to Inventory Systems

• Understand core inventory concepts, classifications, and valuation methods.
• Differentiate between perpetual, periodic, and automated systems.
• Implement basic controls for stock accuracy and shrinkage prevention.
• Link inventory management to procurement and financial reporting.

Forecasting and Replenishment Basics

• Apply demand forecasting models for fast- and slow-moving items.
• Calculate reorder points, safety stock, and lead time buffers.
• Optimise order quantities using EOQ and service level targets.
• Evaluate supplier reliability and replenishment cycles.

Logistics Communication and Collaboration

• Facilitate effective communication across logistics and procurement teams.
• Use digital tools to coordinate suppliers, warehouses, and distributors.
• Build collaborative partnerships to reduce lead times and costs.
• Enhance visibility through shared data and performance dashboards.

Performance Metrics and KPI Analysis

• Define key inventory KPIs such as stock turnover, fill rate, and accuracy.
• Track performance against benchmarks and SLAs.
• Identify bottlenecks using root cause and variance analysis.
• Use KPIs to drive data-informed decision-making and improvement.

Risk Management in Supply Chains

• Identify internal and external risks affecting supply continuity.
• Develop mitigation plans for supplier failure, delays, and disruptions.
• Integrate contingency planning into procurement and logistics workflows.
• Monitor resilience metrics and supplier risk ratings.