Skip to content Skip to footer

Inventory Management
& Control

Johannesburg 2022 . Date TBC

Course Navigation

This intensive course is tailored for staff members in the manufacturing and retail sectors that keep inventory in the normal course of business. It highlights the importance of managing and controlling the inventory system.

Accreditation

This is an-accredited course.
(336742 Develop and implement optimal inventory strategies L6 8)

Upon completion of this workshop, participants will be able to;

  • Know the Accounting Equation
  • Understand the Double-Entry System
  • Relate inventory to the Income Statement and Balance Sheet
  • Deal with stock obsolescence
  • See how inventory values can substantially affect the Income Statement and Balance Sheet
  • Identify the different types of  inventories
  • Distinguish between the Periodic Inventory and Perpetual Inventory systems 
  • Apply different inventory valuation methods – FIFO, LIFO, Weighted Average, Specific Identification
  • Understand the accounting concept of  “Lower of Cost or Net Realisable Inventory Valuation”
  • Identify inventory holding and ordering costs
  • Apply key inventory control concepts like order lead time, safety stock.
  • Apply the Economic Order Quantity Model
  • Identify which inventory items are more critical
  •  

This masterclass runs for 1 day

  • Introduction
  • The Accounting Equation
  • Double-Entry System
  • Relate inventory to the Income Statement and Balance Sheet
  • Stock obsolescence
  • See how inventory values can substantially affect the Income Statement and Balance Sheet
  • Identify the different types of  inventories
  • Distinguish between the Periodic Inventory and Perpetual Inventory systems
  • Apply different inventory valuation methods
  • Accounting concept of  “Lower of Cost or Net Realisable Inventory Valuation”
  • Inventory holding and ordering costs
  • Economic Order Quantity
  • Identifying which inventory items are critical
  • Questions and answers

Training times can be arranged accordingly in order to cater for the client’s needs.

Available on request.

This course is suitable for:

    • Any non-finance professionals in management, marketing, sales, production, engineering, design, human resources, technology, legal, administration and planning who need an overview and a basic understanding of how to account for and manage inventories. 

Course Categories

Promo Video

Course Gallery

Want to subscribe to us?

About Us

Prospen Group is a corporate specialist in the provision of training and consulting services. As the world now moves toward hybrid working models, our training does too. Whether in-person, virtual, on-demand, self-paced or blended, we have a range of hybrid learning options to meet your needs. ProspenAfrica is here to support you in this transition, ensuring that highest standards of training continue to be delivered in the format that works for you.

Accreditations:
Get In Touch With Us

Our Phone Number
+27 (0)11 882 0392

Our Email Address:

 © Prospen Africa Pty (Ltd)  2022. All rights reserved. 

Open chat
Need Help
Prospen Africa
Good day. What can we assist you with today?