INVENTORY AND WAREHOUSE MANAGEMENT DYNAMICS 

9^th-11^th March, 2026                                                                                                          20^th-22^nd May, 2026

24^th-26^th August, 2026                                                                                                       2^nd-4^th  November, 2024 

Introduction

Inventory management, a critical element of the supply chain, is the tracking of inventory from manufacturers to warehouses and from these facilities to a point of sale. The goal of inventory management is to have the right products in the right place at the right time.

Warehouse management encompasses the principles and processes involved in running the day-to-day operations of a warehouse. At a high level, this includes receiving and organizing warehouse space, scheduling labor, managing inventory and fulfilling orders.

The primary purpose of inventory management is to ensure there is enough goods or materials to meet demand without creating overstock, or excess inventory. As a business owner, you ought to know about any movement in your stock; daily counts; managing your inventory is a daily inventory management task; manage out-of-stock products; clear description; organized work environment. if inventory is not properly managed, it can become a business liability.

Excel is an inexpensive way to keep track of inventory. A spreadsheet offers virtually endless columns for categorizing and sorting the data you need.  With integrated tools, features, and formulas to make spreadsheets more dynamic and interactive, Excel is capable of handling basic inventory management for small and medium scale businesses.  

Course Contents

 Module One: Inventory Management and its functions

 What is Inventory, why inventory,  Inventory types, Inventory systems etc.

Inventory Levels: – Max, Min, Re-order, Hastening. ABC model. JIT/JIC. MRP 1 and MRP 11. Computerized stock level.  

Module Two: Inventory Planning and Control 

Types of inventory or Classes of Inventory. Inventory Planning and Control. Stock Replenishment – provisioning, Stock Levels, Two Bin System etc. Stock Control Models – MRP 1, MRP 11, ABC,
JIT/JIC, etc.

Module Three: EOQ and Demand Uncertainty

This module walks us through the appropriate number of inventory to order to minimize ordering and holding or storage cost.  we shall examine Economic Order Quantity EOQ when demand is certain and when demand is uncertain.

Module Four: Inventory and Financial Management

 Materials Costing: Cost Pricing, Market Pricing, Average Pricing, Standard Pricing etc. Stocktaking: Periodic, continuous, Spot checking. Effective documentation of every activity.

Module Five: Inventory Handling

Goods receiving procedures. Issuing Methodology – FIFO, LIFO etc. Dispatch/Distribution procedures. Materials handling Techniques. Procedures for Handling of shortages, returns/reverse, damages etc.  

Module Six: Warehousing Management

Types and their Activities. Basic warehousing functions. Warehousing Contributions to Profitability Warehouse goals Warehouse strategies. Warehouse Key Performance Areas. Savings in Warehouse Activities.

Module Seven: Application of Excel to Inventory

Stock taking. Creating a dynamic expandable in and out inventory. Inventory tracker. First-in First-out (FIFO) inventory valuation method in excel. Last-in First-out (LIFO) inventory valuation method.

 Module Eight: Warehouse Management in Excel

This allows users to track and maintain inventory bin locations within a warehouse. This warehouse inventory spreadsheet includes the ability to print a pick list, be flagged when it’s reordering time, retrieve information on specific bins, and keep track of inventory value.

 Module Nine: Inventory Dashboard

This module is a whirlwind journey into advanced and complex inventory data analytics. It provides us with complex but easy way of converting inventory data into powerful dynamic chart. This helps in giving more insight into our inventory data.

Duration: Three (3) days                                                                                            Fee: N250,000

For Whom: Supply chain Managers, Materials Managers, Inventory Managers, Store Managers, Operations Managers, Production Managers Distribution Managers /Logistics Managers.