Principles of Inventory and Stores Management

 

PRINCIPLES OF INVENTORY AND STORES MANAGEMENT

DURATION: 2 days

Inventory management includes the policies, procedures, and techniques employed in maintaining the optimum number or amount of each inventory item. The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at minimum cost.

Stores management covers the activities of handling material deliveries, their physical control, preservation, efficient handling, minimisation of damage and obsolescence, and safe disposal. Stores processes include records maintenance, location and inventory verification.

The right approach to storage helps reduce pollution, unnecessary wastage and other inventory costs.

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