BBA3105 Inventory and Stores Management (Procurement & Supplies)

Inventory management includes the policies, procedures, and techniques employed in maintaining the optimum number or amount of each inventory item. The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at minimum cost. Stores management covers the activities of handling material deliveries, their physical control, preservation, efficient handling, minimization of damage and obsolescence, and safe disposal. Stores processes include records maintenance, location and inventory verification.

Objectives of the course

• Appreciate the strategic value of inventory and stores management in organizational effectiveness. 
• Understand the inventory functions, types and management Systems
• Learn about systems that support effective and efficient inventory management.
• Learn applicable processes used to establish inventory levels in order to foster key relationships for success.

Learning Outcomes
On successful completion of this unit the students are expected to be able to:

• Define Inventory Concepts and explain Ordering and Costs involved.
• Determine and forecast demand for Inventory.
• Perform Inventory planning and coding.
• Discuss Stores / Warehousing locations and Layout.
• Explain Standardization, Rationalization and Variety Reduction.
• Understand how Stock Checking in done for records and accounts purposes.
• Explain equipment handling and management in Inventory Management.