CILT Certificate In Stock Management, Forecasting and Demand Planning
Procurement & Supply Chain · 5 Days · Public · Accredited by CILT · From USD 2,500
Overview
Demand planning is a critical process within Supply Chain Management (SCM) which ensures continuity of supply of the inventory at the lowest cost. Effective demand planning will help the SCM team improve the accuracy of forecasts, ensure enough inventory levels at all times, and enhance profitability by optimizing the expenses.
Learning Objectives
State the objectives of inventory management and list their impact on cost and customer service
Prepare proper classification of inventory and use best practices for item specification and cataloguing
Use forecasting techniques to predict demand and better manage lead times
Compute the optimum ordering quantity and determine safety stocks and reorder points
Schedule cycle counts, improve inventory record accuracy, and find ways to reduce inventories
List various techniques to reduce inventory, including Just-in-Time (JIT)
Identify relevant Key Performance Indicators (KPIs) to measure and improve inventory performance
Who Should Attend
This course is designed for professionals working in procurement and supply chain, as well as those whose responsibilities require a stronger practical grasp of the subject and its application within their organisation.
Professionals in Management & Professional Skills
Procurement, purchasing and contracts staff
Supply chain and logistics professionals
Course Outline
Day 1 — Introduction to inventory management
Objectives of inventory planning and stock control
Reasons to hold inventory
Inventory information system considerations
Inventory push versus pull systems
Day 2 — Forecasting demand and lead time
The inventory order cycle
Dependent versus independent demand
Factors affecting demand
Factors impacting demand forecast accuracy
Day 3 — Inventory systems
Elements of inventory holding and ordering costs
The Economic Order Quantity (EOQ) model
Dealing with quantity discounts
Objectives of safety stocks
Day 4 — Counting and controlling inventory
Importance of accurate inventory records
Warehousing functions
Causes of inaccurate inventory records
Requirements for accurate inventory records
Day 5 — Measuring inventory management performance
Importance of tracking the effectiveness of the inventory planning and control functions
Is CILT Certificate In Stock Management, Forecasting and Demand Planning accredited?
Yes. CILT Certificate In Stock Management, Forecasting and Demand Planning is accredited by CILT. Delegates who complete the course receive a CILT-accredited certificate issued through Al-Khobraa, a Saudi-registered training provider.
How long is CILT Certificate In Stock Management, Forecasting and Demand Planning?
CILT Certificate In Stock Management, Forecasting and Demand Planning runs over 5 days. The exact dates and start city for every confirmed session are listed in the dates section on this page.
How much does CILT Certificate In Stock Management, Forecasting and Demand Planning cost?
The fee for CILT Certificate In Stock Management, Forecasting and Demand Planning is USD 2,500 per delegate. Each confirmed session shows its own fee on this page, and in-house delivery for a team is quoted separately. Al-Khobraa is an approved HRDF (Hadaf) provider, so eligible Saudi employers can seek training support.
How is CILT Certificate In Stock Management, Forecasting and Demand Planning delivered?
CILT Certificate In Stock Management, Forecasting and Demand Planning is delivered as a live virtual classroom, so you can attend online from anywhere. Classroom delivery at an Al-Khobraa venue, or in-house at your own premises, can be arranged on request.
Can CILT Certificate In Stock Management, Forecasting and Demand Planning be delivered in-house for our team?
Yes. CILT Certificate In Stock Management, Forecasting and Demand Planning can be delivered in-house at your own premises anywhere in Saudi Arabia or the wider GCC, with the content, dates and language tailored to your team. Contact Al-Khobraa for a quotation.