Materials Management and Inventory Control (MMIC)

COURSE DESCRIPTION: The participants attending the Materials Management and Inventory Control will understand how to manage inventories by applying strategies for managing capacity, demand, distribution, purchasing and quality in services resulting in lowered costs on maintaining inventory, reduction in losses and improvement on service quality measurement. This will enable the participants to address current inefficiencies and resolve issues on inventory costs. COURSE OUTLINE: 1. Overview of Materials Management and Inventory Control a. Definition of Terms b. Types of Materials c. Objectives of Materials Management d. Production Activity Control e. Inventory Management f. Manufacturing Planning and Control 2. Materials Requirements Planning a. Basic Steps of MRP b. MRP Inputs and Outputs c. MRP Techniques 3. Capacity Planning a. Capacity Requirements Planning b. Capacity Management Techniques c. Determining Available Capacity d. Ways of Adjusting Demand e. Ways of Adjusting Capacity 4. Forecasting a. Strategic Business Planning b. Forecast Methods c. Outputs from Forecasts d. Production Resource Forecasts e. Types of Demand 5. Inventory Management a. Good Inventory Management Systems b. Techniques in Selective Inventory Control c. Cost of Inventory d. Fixed Order Quantity Systems e. Determining Economic Order Quantity f. Dynamics of Inventory Planning g. Setting the Order Points h. Safety Inventory 6. Supply Chain Management a. Purchasing b. Purchasing Techniques and Strategies c. Supply Chain Strategies d. Supplier Selection 7. Warehouse Management a. Warehouse functions b. Storage Layout Planning Strategies c. Storage Retrieval Methods d. Warehousing Challenges e. Cutting Warehouse Costs