Materials | Inventory | Stores Management (MISM)
Course Duration: 2 Months
SCM Hub – the pioneers in logistics training offers Materials Management, the most attractive and advanced value for money training available to make students industry ready at par with international standards. Experts from the leading multinational freight logistics companies have designed this training. Materials / Inventory / Stores Management course structure is so broad and detailed that it will help you to take up jobs and climb the corporate ladder faster in manufacturing, shipping line, airlines, logistics, supply chain management, export-import, trading and warehousing companies worldwide.
Duties and Responsibilities of Materials and Production Controller. -New Products and Product Development, Standardization and Simplification of Component Parts and Raw Materials, Production and Materials Planning. -New Products, Consumer and Industrial Markets, Financial Aspects of New Product Launching.
Methods of Determining Output, Sales Forecast to Production Programme, budgets as a Method of Control.-Determination of Materials Planning, Lead Time Determination, timing in Preparation for Sales Forecast. Pre-Production Planning, Design Procedure, Value Engineering, Method Study and Work Measurement, Make or Buy. Production Methods (Jobbing, Batch, Flow), product and Process Layout, Production Services.
Records and Documentation Methods of Determining Material Requirements Work-In-Progress & Value Analysis. material standardization.
Raw materials; bought out and sub-contracted components; finished products. Statistical methods in quality control. Production Control Functions; relationships; systems; scheduling relationship with scheduling. Introduction to Product Planning & Control. The course examines disaggregated planning projects in the context of development planning; cost benefit analysis of projects; programming project execution; applications of critical path method (CPM) and projects; project control.
Inventory Planning & Management: Need to hold stocks – Types of stock – holding / Inventory – implications for other logistics functions – inventory costs – inventory replenishment systems – economic order quantity – demand forecasting.
Inventory & Supply Chain: Problems with traditional approaches to inventory planning – different inventory requirements – the lead-time gap – Inventory & time – Analysing time & inventory – inventory planning for manufacturing – Inventory planning for retailing.
Purchasing & Supply: Setting the procurement objectives – Managing suppliers – Collaborative planning – forecasting – replenishment – Factory gate pricing – E- Procurement.
Upon successful completion of IILMP course, SCM Hub student would have the confidence to handle and answer all job related questions during interviews in sales, marketing, customer service, operations, documentation, shipment planning and claims handling in shipping lines, ocean freight forwarding, airlines, air freight forwarding and warehousing companies leading to faster employability internationally.
INTRODUCTION TO PURCHASE MANAGEMENT
The role of Purchase in business -Relationship with Other Departments-Purchasing Controls Budgeting -Purchasing Ethics/ Public Relations.
Moreover, tutors and students are permitted to communicate only in English inside the campus.
SOURCES AND QUALITY OF PURCHASE MANAGEMENT
Sourcing, and quality – Quality Control -Quantity Determination -Right Time, Price & Surplus Materials.
PURCHASING CAPITAL EQUIPMENT
Contract Buying, Retail Buying, Engineering and Construction Contracting -State and Institutional Purchasing, International Buying-Make or Buy, Negotiations, Purchasing Research/Value Analysis
Changes in Environmental Conditions- Concept of Supply Chain Management-Strategic Purchasing Management
DEVELOPMENT OF PURCHASE & PROCUREMENT
Partnership Sourcing, Network Sourcing-Benchmarking, Buying Decision Models-Purchasing Market Research-Role of Information Technology in Purchasing and the Portfolio – of Purchasing Skills.
Determination of Stockholding Policy. Customer expectations – internal/external; supply market conditions; Categories of risks and their evaluation; Requirements of the business and the need for stock; Economics constraints; methods of avoiding carrying stock; General control methods e.g. ABC analysis. Control of Stock Range Coding, classification and categorization methods;
Variety reduction and standardization; Application and approval of new stock items; Control of slow moving; obsolete and redundant stock; Role of and function in determining stock range, Control of Stock Levels Forecasting techniques in relation to demand and lead times; Independent demand situations and the use of fixed order quantity and periodic review systems; Techniques for dealing with dependent demand.
Materials management – functions – material planning and budgeting – Value Analysis – purchase functions and procedure – inventory control – types of inventory – safety stock – order point – service level – inventory control systems – perpetual – periodic. Production planning and control – meaning – functions – aggregate planning – master production schedule (MPS) – BOM
Manufacturing: Just – in – time (JIT) – Resource Planning (Manufacturing –MRP II) – Material requirements planning (MRP) – MRP system – Flexible fulfillment (Postponement) – effects on distribution activities. Capacity requirement planning (CRP) – Techniques – problems in MRP and CRP – ERP – Business Process Re engineering. The Kanban approach; Coping with uncertainty in achieving required service levels; Suppliers contribution to controlling stock. Management of Storage Facilities. Identifying types of commodities to be stored and their characteristics with regard to storage and handling needs; Distribution requirements planning (DRP); Pull systems.
Physical Management of Stock Selection and operation of appropriate storage and materials handling equipment – general outline; Methods of stores layout to optimize the use of space and minimize picking costs; Outsourcing the activity and vendor managed inventory; Maintenance of security and prevention of theft; Storage and disposal of redundant, obsolete and scrap items; Environmental issues. Use of operational research techniques of queuing theory, network analysis, simple simulation techniques and decision trees; Identifying methods to distinguish between stores efficiency and effectiveness; Benchmarking and measurement of performance.