Certificate in Retail Inventory Control: Stock Management
-- ViewingNowThe Certificate in Retail Inventory Control: Stock Management is a comprehensive course designed to equip learners with essential skills for success in inventory management. This program emphasizes the importance of accurate forecasting, strategic planning, and technology utilization in retail inventory control.
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โข Introduction to Retail Inventory Control: Understanding the basics of inventory control, its importance in retail, and the role of a retail inventory controller.
โข Types of Inventory: Learning the different categories of inventory like raw materials, work-in-progress, finished goods, and maintenance, repair, and operating (MRO) supplies.
โข Inventory Management Techniques: Exploring various methods for managing inventory such as just-in-time (JIT), first-in-first-out (FIFO), last-in-first-out (LIFO), and economic order quantity (EOQ).
โข Stock Management Principles: Delving into the principles of stock management, including demand forecasting, safety stock calculation, and inventory turnover ratio.
โข Inventory Control Systems: Examining the various inventory control systems, including manual, computerized, and hybrid systems.
โข Inventory Costs: Understanding the different costs associated with inventory, such as ordering costs, carrying costs, and stockout costs.
โข Inventory Valuation Methods: Learning the different methods for valuing inventory, such as last-in-first-out (LIFO), first-in-first-out (FIFO), and weighted average cost (WAC).
โข Inventory Performance Metrics: Exploring the various metrics for measuring inventory performance, such as inventory turnover ratio, stockout rate, and fill rate.
โข Supplier Relationship Management: Understanding the importance of building strong relationships with suppliers for effective inventory control.
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