An Intensive 5-day Training Course
Inventory & Stock Control Management
Improving Business Productivity Through Optimization
Scheduled Dates
Classroom
| 26 - 30 May 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 28 Jul - 01 Aug 2025 | Istanbul - Turkey | $5,950 | RESERVE A SEAT |
| 15 - 19 Sep 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 17 - 21 Nov 2025 | London - UK | $5,950 | RESERVE A SEAT |
Online
| 15 - 19 Sep 2025 | Online | $3,950 | RESERVE A SEAT |
Are the scheduled dates matching with your needs?
We provide a wider range of training options. Tailored and customized, we can deliver your organisation’s training needs anytime, anywhere.
Why Choose this Training Course?
Inventory is a current asset to a firm. Carrying inventory comes with a certain degree of risk. This risk is a component of the cost of carrying inventory. When a company stocks items in the warehouse there is always the risk that the items may fall in real value during the period they are stored. If a company stored parts for their work centers or equipment, the parts in the warehouse could be worth far less than the price that was originally paid and any losses, excess, obsolete and miss-managed inventory means a reduction in the company equity.
When companies are looking to reduce costs, a great many times they ignore the inventory sitting in their warehouses and the cost of carrying that inventory. It is important for businesses to carefully examine all the costs of carrying inventory and determine where they can make changes to reduce that cost and help with the company’s bottom line.
The purpose of this seminar is to:
- Enable delegates to evaluate Inventory visibility levels and segmentation approaches
- Examine stocking level criteria through assignment practices
- Types of tools used for inventory optimization
- Current integration practices between materials management systems and asset management systems
- Understanding that minimizing inventory holdings reduces overhead costs and, hence, improves the profitability performance of the enterprise
- Understand and implement the "world class" tools for managing inventory in the supply chain
What are the Goals?
- Improve management of inventories reaching from receiving products to storage and delivering
- See that movement to the end-user is adds value
- Professionally manage the inventory and supply chain and help you to reduce cost, improve customer satisfaction and increase safety and productivity
- Look “outside of the box”
- Understand the appropriate Inventory methods to be applied
- Establish more accurate forecast demands and maximize the degree of service by reducing your inventory with a time-conscious and integrated inventory management process
Who is this Training Course for?
This PetroKnowledge training course is suitable for a wide range of professionals but will greatly benefit:
- Those new to managing inventory
- Those non inventory people who need to gain an awareness of the issues and key drivers of stock control operations
- Inventory, Stock, Supply Chain, Logistics, Warehouse and Distribution Professionals
How will this Training Course be Presented?
- Delegate discussion and involvement
- Case studies
- Exercises
- Best practice examples
- Supportive comprehensive course manual enabling practical application and reinforcement
Organisational Impact
- Examine the link of inventory in the company supply chain operations and activities
- Analyse the key areas of operation
- Identify and understand key performance indicators
- Succeed in improving operations
- Apply the right cost and service balance
- Gain a competitive advantage
Personal Impact
- How to analyse stock and inventory
- How to make productivity improvements
- Understand the role of inventory in the supply chain
- Balancing cost and service requirements
- A framework for continual improvement
- Best in class practices
Daily Agenda
Day One: Inventory and the Supply Chain
- Inventory definitions and importance
- Inventory flow in the Supply Chain
- The Basic Rules of successful Supply Chain
- Supply Chain and Inventory dynamics
- Financial Management and Inventory
- Statistics application in Inventory Control
- Truths on Inventory visibility
Day Two: Key Components to Understanding Effective Inventory Control
- End-User Demand Analysis
- Forecasting for Operations and Maintenance
- Understanding Supply Lead Time
- Cost & Benefits analysis
- Developing Inventory policies
- The need for Inventory in organizations
Day Three: Inventory Mechanics, Methods and Systems
- Basic mechanics of inventory systems
- Establishing Order Quantity
- Implications of Free stock in inventory
- Simple replenishment methods, for example, Min/Max
- Replenishment methods, Reorder Point and Reorder Level (ROP/ROL)
- Requirements planning systems, Bills of Material and inventory planning
- Class assignment inventory control methods
Day Four: Establishing Stock Control
- Establishing Stock Checking
- Developing Stock accuracy
- Stock tolerances and approvals
- Stock reconciliations/discrepancies
- Identifying Surplus and obsolescent stock
- Identifying different Storage conditions
- Understanding Stock coding
- Stock Variety reductions
Evaluating Inventory Performance
- Inventory Assessment
- Assessing the stock level
- Models for implementing inventory control
- Determining stock targets
- Establishing Inventory questionnaires
- Inventory KPI's in warehouses/stores
Day Five: Understanding Inventory Strategies
- Creating Inventory Policy
- The role Stock Committee
- Understanding Critical stock
- Establishing the Use of squirrel stores
- Collaborative supply chains
- Incoterms and the supply chain rules
- Understanding Vendor Managed Inventory (VMI) and Co Managed Inventory (CMI)
- Developing the need for Consignment stocking
- Telemetry
- Information, Communication and Technology in Inventory Control
Inventory Improvements
- Using the Supply Chain
- Using the Theory of Constraints
- Practical inventory improvements
- Keys to reducing stock levels
- The 7 Rules for planning inventory
- Model for planning inventory
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
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Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
