Managing Stock

Overview

Rarely are the skills of management more put to the test than with issues of controlling stock.  Having to walk the line between increasing customer expectations and the demand for high stock turn and profitability demands a high level of skill, knowledge and experience.  And don’t forget you also need a cool head and an innate ‘feel’ for what is right in order to succeed!

Key Outcomes

At the end of this programme delegates will be able to…

• Understand how stock can affect the profitability and service levels in an organisation
• Define the roles and responsibilities of a stock manager
• Understand the principles of forecasting, planning and controlling stock
• Demonstrate effective objective setting
• Carry out effective negotiations
• Demonstrate appropriate management techniques

Duration

1 day

Content

• The importance of effective stock management & role of the stock manager
• Setting objectives and targets
• Stock Turn and profitability
• Forecasting and planning stock & the principles of FIFO & LIFO
• Effective decision making & Negotiating skills
• Security considerations
• Buffer stocks and reducing stock levels
• Controlling stock