HLL Store & Inventory Management

The benefits of applying HLL (WMS) system is to:

• Understanding Productivity and Enhancing Operational Efficiency of an Organization
• Store and Inventory management as means for Enhancing Operational Efficiency of an Organization

Objectives

• Functions and the various types of stocks
• Concept on Goods - Receiving and Inspecting
• Stock (Inventory) Classification
• Methods of Storing Goods
• Store layout for stock control efficiency
• Stock Check
• Assessing store and stock operational efficiency

Functions of Store and Inventory Management

• Identification of all items in a Store
• Goods - Receiving, Inspecting, Issuing and Delivery Process
• Inventory Control
• Stock Taking
• Storage Activities

Relationship between Stock and Cost

• Holding costs – cost of keeping goods for a certain period of time
• Ordering costs – cost related to goods acquisition and receiving
• Setup costs – cost incurred for setting up a machine or process

Stock Identification

• Stock Identification and Classification
• Methods of Classification – subject and geographical classifications

Goods Receiving Process

• Planning for Goods Received
• Goods Received Procedures
• Activities in Goods Received Process
• Goods Inspection Process
• Activities on Receiving Discrepancy

Inventory Control in HLL helping you decide

• What type of Control is necessary?
• What are the costs involved?
• When do you make the order to increase the inventory?
• How much should we order?
• Economic Order Quantity (EOQ)
• ABC Technique for Inventory Control

Stock Taking

• What are the objectives of Stock Taking
• Stock Taking Procedures
• Steps in Correcting Discrepancy

Storage of Goods

• Concept of Material Layout
• Popularity, Similarity, Size and Characteristics of Goods
• Storage space required
• The principles of Good Store Layout