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Course Code: FNBN 145
127 Course Visits
Cash and Inventory Management
Course Sector:
Finance, Accounting and Banking
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Introduction
Training course introducion / brief
This comprehensive course is designed to equip participants with the knowledge and skills necessary to effectively manage cash and inventory within their organizations. In today's fast-paced business environment, efficient cash and inventory management is crucial for ensuring the availability and optimal utilization of assets while meeting the needs of the business units. Throughout this intensive program, we will explore inventory principles, applications, and accounting systems, providing practical insights into inventory management activities.
Participants will learn how to track inventory schedules using automated information systems, record inventory movements, and update inventory control systems. Additionally, we will delve into cost analysis, pipeline inventory evaluation, and various techniques to minimize inventory levels. Moreover, the course will cover inventory control techniques, such as stock monitoring, optimization, and the establishment of optimum inventory levels through modeling and analysis. Lastly, participants will gain insights into managing the integration and consolidation of multiple interrelated inventory and procurement projects.
Course Objectives
At the end of the training course, participants will be able to
- Apply inventory principles, applications and accounting system in inventory management activities.
- Ensure that assets are available and are effectively utilized, maintained and manage to meet BU needs.
- Track inventory schedules by using automated information systems, record inventory movement, and update inventory control system information.
- Determine total cost of inventory, analyze total inventory in pipeline and recommend ways to minimize level such as Just -IN- time techniques or other relevant methods.
- Monitor stock levels of supplies and materials and identify deviation in inventory movement.
- Apply inventory control techniques to optimize stock levels.
- Build models to set optimum inventory levels and determine re-order levels based on environmental factors.
- Manage the integration / consolidation of multiple interrelated inventory and procurement projects.
Course Audience
Who is this course for, and can benefit the most
- Executives who have strategic financial oversight of their unit or organization
- Finance-related roles
- Accounting-related roles
- Marketing Managers
- Financial managers
- Affiliate marketing leaders
- Career Enhancers
- Digital Innovators
- Business owner / Entrepreneur
- General / Senior Accountant
- Business Project Manager
- Bank Branch Manager
- Structured Finance Senior Relationship Manager
- Finance Transformation Manager
- Risk Manager
- Investment Analyst
Course Outline
The course aims and learning outcomes
Introduction to Inventory Management Principles
- Overview of Inventory Management
- Importance of Effective Inventory Management in Business Operations
- Inventory Control Techniques and their Significance
- Applications and Accounting Systems in Inventory Management
- Inventory Valuation Methods
- Types of Inventory and their Characteristics
- Principles of Effective Inventory Planning and Control
Tracking and Recording Inventory
- Automated Information Systems for Inventory Tracking
- Barcoding and RFID Technology in Inventory Management
- Cycle Counting and Physical Inventory Procedures
- Inventory Accuracy and its Impact on Business Operations
- Best Practices for Maintaining Accurate Inventory Records
- Inventory Audit and Reconciliation
- Case Study: Tracking and Recording Inventory in a Real-world Scenario
Cost Analysis and Minimization Techniques
- Total Cost of Inventory: Carrying Costs, Ordering Costs, and Shortage Costs
- Analyzing Total Inventory in the Pipeline
- Economic Order Quantity (EOQ) Analysis
- Safety Stock and Reorder Point Determination
- Just-in-Time (JIT) Techniques and Lean Inventory Management
- Vendor-Managed Inventory (VMI) and Consignment Stock
- Case Study: Applying Cost Analysis and Minimization Techniques in Inventory Management
Inventory Control Techniques
- Monitoring Stock Levels of Supplies and Materials
- ABC Analysis and Classification of Inventory
- Material Requirements Planning (MRP) and Manufacturing Resource Planning (MRP II)
- Batch Control and Lot Tracking
- Stock Rotation and First-In, First-Out (FIFO) Method
- Demand Forecasting and Inventory Planning
- Case Study: Applying Inventory Control Techniques to Optimize Stock Levels
Integration and Consolidation of Inventory and Procurement Projects
- Challenges and Considerations in Integrating Inventory and Procurement Projects
- Best Practices for Managing Interrelated Inventory and Procurement Initiatives
- Cross-Functional Collaboration in Inventory Management
- Performance Metrics and Key Performance Indicators (KPIs) in Inventory Management
- Continuous Improvement and Process Optimization in Inventory and Procurement
- Case Study: Managing the Integration and Consolidation of Multiple Inventory and Procurement Projects
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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