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
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