Stores, Inventory & Warehouse Management

·Major Topics Covered in this Diploma Program include

Module 1 - Introduction to Storekeeping, Stock Control & Stores Management

·Why Stores are necessary; enterprises needing Stores facilities; the variety of stock/inventory items and materials

·What is involved in storekeeping, stock control and Warehouse management

·Importance of efficient Stores services to main; relations of Stores with other departments

·Principles and functions of management; recruitment and training

Module 2 - Storehouse & Warehouse Premises: Location and Layout

·Ground, upper-storey, basement, multi-storey, departmental, centralised and decentralised Stores

·Converting buildings to Storehouses; factors in the location of new Stores buildings

·Designing new Storehouses - floors, doorways, lighting, heating, cooling, ventilation

·Stores layout for economy, accessibility, flexibility, protection; common and specialised layouts

Module 3 - Stores Equipment

·Types of Stores equipment, storage equipment, racking, shelving, bays, runs, bins, tanks

·Pallets, palletisation, advantages and use

·Measuring equipment, for weight, dimension, volume, density

·General Stores equipment, accident prevention, maintenance, cleaning, protective clothing

Module 4 - Materials Handling

·What materials handling involves, importance of efficiency, selecting materials handling systems

·Manual handling equipment, powered handling equipment, order picking/selection equipment

·Safety in manual and powered equipment handling, training, planning, supervision, prevention of damage

·Automation in Stores: digital and physical handling systems, storage and retrieval systems, benefits

Module 5 - Storehouse and Warehouse Security

·Prevention of theft, fraud, pilfering; secure doors, windows and fanlights; control of keys, CCTV

·Protection of materials from damage and deterioration; common causes of spoilage, stock rotation

·Fire prevention and precautions, signs, alarms, fire drills, fire-fighting equipment

·Managing health & safety, legal and management duties; policy, hazards, risk assessment, emergency action plans, prevention of injury

Module 6 - Stockyards

·Why Stockyards are used, materials suitable for Stockyards, advantages of storage in Stockyards

·Stockyard location, fences and walls, fntry/exit points, gatekeepers, weighbridges, surfacing

·Stockyard security, precautions against fire, fire fighting equipment, accident prevention

·Layout of Stockyards, Stockyard location systems, ensuring a smooth flow of materials/vehicles

Module 7 - Identification of Stock Items

·Why codes are used in Stores work, advantages, computerised stock recording

·Types of coding systems, constructing a stock coding system, colour coding, grouping and coding by the natures of inventory items

·Alphabetic, numeric, alphanumeric, random numeric coding, barcode and QR code inventory systems

·Inventory management strategies, ordering, storing, utilising inventory; stores catalogues

Module 8 - Stock & Inventory Records

·Importance of accurate stock records; information recorded, design and layout of stock records

·The Stores Office, location, personnel, responsibilities; location of Stores Offices

·Computerised stock & inventory recording systems, database systems, advantages, reports

·Quality management systems for Stores & inventory control; security of data, back-ups, filing

Module 9 - Stock Levels and Replenishment/Procurement of Stock

·Costs involved in maintaining stocks; why stocks are kept despite the costs; budgetary control

·Importance of and factors in setting stock levels; the Pareto Principle, ABC classification; reorder, minimum, higher, hastening, average and variable stock levels

·Procurement, provisioning, sourcing, supply chains, replenishment; documents, planning, systems

·Purchasing, selecting suppliers, quality, purchase orders (POs), sales orders, stock turnover, economic order quantity (EOQ), materials requirement planning (MRP), just-in-time (JIT) stocking

Module 10 - Receipts of Stock

·Internal and external sources of receipts, production, supplier, returns, transfers; receiving procedures

·Modes of transport: road, rail, air, water, courier service; containerisation

·Documents: copy order, advice note, delivery note, waybill, carrier’s consignment note, goods inwards book, goods-received notes, reports

·Quality inspections, quantity and damage checks, inspections by stores and technical personnel

Module 11 - Issues of Stock

·Meeting users’ requirements, requisitions, authorisation for issues, issues to other departments

·Issues to customers, documents, cash sales and credit sales, returns to suppliers

·Selection, order-picking, pick lists, automated picking systems; marshalling; training, supervising and checking

·Packing, despatching, packaging, containers, equipment, despatch routines; distribution centres, e-commerce warehousing

Module 12 - Stocktaking, Spot Checks, Stock Valuation

·Stocktaking defined , why it is performed; periodic and continuous stocktaking, spot checks

·Planning and preparations for stocktaking, manual stocktaking, stock counting sheets, barcode scanners and technology in stocktaking, auditors

·Inventory valuation, what is involved, methods of valuation; obsolete, redundant and damaged stock; treatment of discrepancies

·Cost of goods sold calculation, master stock list, affect on profit or loss