By the end of the course, participants will be able to:
Describe the objectives and functions of materials and supply chain management (stock control, purchasing, stores and physical distribution) and explain how they relate to each other
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
Those involved in any function of materials and supply chain management (inventory, warehousing, purchasing and transportation) who are concerned with successfully providing acceptable customer or user service at a minimum cost.
This course is also appropriate for anyone who needs to know more about the role of materials management.