APICS ESSENTIAL SKILLS FOR INVENTORY CONTROL

Course Description

This course focuses on universally accepted inventory planning and control processes and systems used by stockroom and inventory management professionals. The concepts presented in this course are applicable to managing inventory in all manufacturing, service, and distribution companies.  All terms and concepts taught in this course are based on the APICS Body of knowledge and taught by ASCM recognized instructors.

Audience

This course is ideal for both new and experienced employees whose job deals with planning and controlling inventory including stockroom personnel, shipping and receiving employees, material handlers, inventory planners, cycle counters and other inventory control associates who would like to hone their job skills and gain practical knowledge in the field of stockroom and inventory management.

Prerequisites

There are no prerequisites for this course.  However, it is strongly recommended that students have a basic knowledge or some experience in stockroom or inventory activities.

Topics and Course Content

This course will cover topics such as:

Introduction to Inventory Management (FIM-2)

• Inventory Management
• Inventory Flows
• Financial Aspects of Inventory Management

Purpose & Function of Inventory (FIM-3)

• Five functions of inventory
• Elements of inventory cost, Inventory valuation

Inventory Replenishment Management (FIM-4)

• Inventory replenishment methods and objectives
• Order point, safety stock, and EOQ

Inventory Measurement & Control (FIM-5)

• ABC Inventory Control
• Inventory Accuracy Tool Kit
• Measuring Inventory Performance

Lean Inventory (FIM-7)

• Lean concepts and practice
• Lean techniques

Introduction to Purchasing and Procurement (FIM-8)

• Purchasing to Procurement

Learning Goals and Results

At the conclusion of the course, the participants will be able to:

• Understand inventory trade-off decisions
• Apply cost analysis and inventory valuation
• Utilize order point, safety stock and EOQ
• Apply inventory accuracy and cycle counting
• Utilize lean inventory techniques
• Apply basic Purchasing concepts and effect on inventory

Participants will also learn basic terms, concepts, systems, and best practices used by inventory management and stockroom professionals that can immediately be used in performing their current job and/or be used to prepare for a next job opportunity.  The terminology and concepts learned in this course will also aid in preparing for the APICS Production & Inventory Management (CPIM) certification exams.

Time Investment

This class is 24 hours of instruction time taken in two 2-hour sessions a week over the course of 6 weeks.

Employee Application Employer Application