Principles Of Inventory Management (PIM)

Course Summary

This Inventory Management course is designed for professionals in all parts of the supply chain looking for either foundational industry practices or cross-functional understanding.

Upcoming Events

Event Details

27 hours
9 three-hour sessions
Available virtually

Description

Inventory, if managed strategically, can work to establish and maintain a company’s competitive advantage. Whether you are a materials manager, buyer/purchaser, inventory planner, or simply need to understand inventory, this course introduces the fundamental concepts. Learn to explain to colleagues how inventory objectives must be balanced with the needs of marketing, sales, and finance. Discover the decisions that effective inventory managers make. Gain knowledge about how inventory accuracy is maintained, and apply that knowledge to create an impact.

Who Should Attend

This Inventory Management course is designed for supply chain professionals in all parts of the supply chain looking for either foundational industry practices or cross-functional understanding.

Learning Objectives

Through training, participants will be introduced to global perspectives that help conceptualize broader supply chain requirements and yield a more detailed understanding of inventory management. They will learn the following concepts and skills, that can be applied immediately in their own inventory activities:

  • Recognizing the requirements for supply chain functional areas
  • Analyzing tools such as inventory grids, a bill of material, and other supply chain documents
  • Conceptualizing inventory flows
  • Understanding the basics of industry practices such as Sales and Operations Planning
  • Integrating improvement activities throughout a supply chain

Participants will also gain exposure to new technology use and hands-on experience combining proven tools to solve supply chain problems. PIM also provides a solid foundation for entering supply chain certification courses such as CPIM (Certified in Production and Inventory Management). 

Course Outline

  • Operations Management – Foundations
  • Fundamentals of Inventory Management
  • Purpose and Function of Inventory
  • Inventory Replenishment Management
  • Additional Inventory Replenishment Techniques and Inventory Performance
  • Lean Inventory – Concept and Practice
  • Fundamentals of Purchasing
  • Sourcing Strategies
  • PO Management and Performance Measurement 

Prerequisites

None

Instructors

FAQ

What transferable skills will I gain from this workshop?

This course will help you develop inventory control, demand forecasting, supply chain optimization, stock replenishment strategies, and warehouse management skills, enabling you to improve inventory accuracy, reduce costs, and enhance operational efficiency.

What other Supply Chain and Operations Management courses does QSG offer?

QSG offers a variety of supply chain and logistics training programs, including Advanced Strategic Supply Chain Workshop (SCOR-P), Lean Thinking, and Supplier Quality Management.

What if I want to customize this course for my company?

We offer customized Inventory Management training tailored to your organization’s industry-specific inventory challenges and optimization goals. Contact us at info@qualitysupportgroup.com to discuss personalized training solutions.

Will I receive a certificate after completing this course?

Yes! Participants will receive a Certificate of Completion, demonstrating their proficiency in inventory management principles and best practices.

How can I register for this course?

You can register online by selecting your preferred course date and completing the enrollment process.

How can I become a QSG member and receive discounted training?

QSG members receive exclusive discounts on training programs.

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General FAQ 2

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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