Effective Material Management

Background:

Procurement has become tougher with increased competition. It is procurement that can ensure the reliability of vendors and service providers. It must be clear how the vendor provides services/goods/works, and how the client monitors and evaluates them. The problem is that small, unclear points can end up in major misunderstandings and losses on any/both side(s).
We came up with this course to address the “research-based” needs of logistics managers for required tendering and bidding skills. This comprehensive training workshop will ensure the effective and efficient use of tendering skills.

General Notes:

• As an open course, this program is offered in specific locations. As an in-house training, it can be offered on any part of the globe.
• This program can be bundled with any other program in the same category, offering the benefit of a discounted price.
• Accord Worldwide can offer this training in languages other than English, please contact us with your questions.

Course Objectives:

By the end of the course, participants will be able to:

• Improve cost recognition within same months for better Cost Reporting.
• Develop mitigation plan for AB equipment with zero stock level of critical spares.
• Implementation of RCA Recommendations for Zero overdue material.
• Ideas to improve and Develop a procedure for preservation of warehouse spare / equipment.
• Development of the strategy of PM of the capital items in warehouse.
• Create BOM for the identified equipment idea.
• 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) for different stock items
• 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

What Participants Receive?

• Certified Accordemy Professional – Attested by Accord Worldwide, Inc. USA
• Free lifetime access to online course material
• Free lifetime membership to the relevant discussion group
• Discounted OR free participation in future training courses

Who Should Attend:

This course is suitable for any procurement or non-procurement professional involved in the planning, creation, issue, receipt, or evaluation of tenders.

Fees:

• Training fee includes the course certificate, training materials, lunch, refreshments, and one social program at the end of the training.
• Not included in the fee are: Visa costs, airfare cost, accommodation, travel insurance, dinner and any personal expense of the participant.
• Please note that for groups, different destinations and in-house training we offer significant discount and we encourage you to contact us for a quotation.

Curriculum:

Day One:

• Definition of materials management
• Materials management scope
• The functions and objectives of materials management
• Types of inventory
• The importance of 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

Day Two:

• Forecasting and planning in materials management
• Typical demand trends
• Forecasting objectives
• Different forecasting models
• Qualitative forecasting
• Quantitative forecasting
• Evaluation of forecasts

Day Three:

• Materials planning and 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

Day Four:

• The purchasing function
• 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

Day Five:

• The warehousing function
• Warehousing objectives
• Inventory record accuracy requirements
• Calculating record accuracy
• Periodic cycle counting
• How to improve record accuracy
•  The transport function
• Fleet and transport objectives
• Methods of transport
• Responsibilities of traffic
• Transport expenses
• Cost reduction opportunities
• Routing and cubing