Retail Inventory Management Workshop
- Online (ZOOM) – October 13, 2020
Inventory Management Workshop is designed to help retail management personnel understand retail inventory – it’s true and full cost; and why dead inventory is ‘cancer’ to profitability. The efficiency of a retail business is based on the retailer’s ability to provide the right products to the consumer, in the right quality, in the right quantity, at the right place and in right time. The entire process of retailing depends on the efficiency of the inventory management system. Inventory Management is one area that differentiates successful and unsuccessful retail businesses. It is the core of a successful retail business operation.
The right management of inventory investment equals business success – outstanding revenues, minimized cost, lower expiry ad pilferages etc; while poor inventory management investment is a recipe for disaster and exactly the opposite.
Inventory Management Workshop is a retail business management certification course. As such, participants will be issued certificates at the end of the workshop.
Objectives At the end of the workshop, participants will:
- know how to achieve smooth fulfilment of orders by matching supply volumes to customer demand;
- know how to define, measure and track KPIs that are critical to inventory management and performance success;
- know how to keep investment in inventory at minimum possible while minimizing the risk of under or over stocking, stock-outs and lost sales;
- gain critical skills in the management of fast-moving products, slow-moving products and product expiry;
- understanding the different inventory forecasting methods, how and when to use them, and why;
- understand the different methods of inventory classification for efficient management, how and when to use them, and why;
- understand the different methods of inventory valuation, how and when to use them, and why;
- understand the different methods of inventory counting system, how and when to use them, and why;
- know how to minimize shrinkage;
- understand how to maximize overall profit margin through efficient inventory management and focused analysis of key retail metrics; and
- articulate solutions for effective and efficient inventory management strategies and tactics that drives turnover, increase cash flow and other validated benefits to retailers.
- Key Inventory management challenges & Dilemma
- Purpose & Cost of Holding Inventory
- Pillars of an Effective inventory management system
- Inventory Management KPIs & Metrics
- Merchandise Planning
- Vendor Selection
- Inventory Classification Methods
- Demand Forecasting Methods
- Inventory Counting Methods
- Inventory Valuation Methods
- Managing Drug Expiry
- Warehouse Management & Challenges
Target Audience: Retail Business Owners, Senior Managers, Store Managers, Inventory Managers, Buyers, and Auditors
Facilitation, Presentation (PPT) & Discussion
- October 13, 2020
- Online – 10:00 am-1:00 pm
- Online – Zoom Live (Link will be sent to paid participants only)
- Online – N39,950
You can pay online @ MAKE PAYMENT OR pay directly to:
- Bank: FCMB
- Account Name: Bervidson Consulting Limited
- Account No: 3432812015
For more information, call or email us today.