Syllabus Of SM-

  1. Introduction to Stock Management:
    • Definition and importance of stock management.
    • Objectives of stock management.
    • Role of stock management in supply chain management.
  2. Types of Stocks:
    • Raw materials.
    • Work-in-progress (WIP).
    • Finished goods.
    • MRO (Maintenance, Repair, and Operations) items.
    • ABC analysis and categorization.
  3. Inventory Valuation:
    • Methods of inventory valuation (FIFO, LIFO, Weighted Average, etc.).
    • Impact of valuation methods on financial statements.
  4. Inventory Costs:
    • Holding costs.
    • Ordering costs.
    • Shortage costs.
    • Economic Order Quantity (EOQ) analysis.
  5. Inventory Control Techniques:
    • Just-in-Time (JIT) inventory.
    • Material Requirements Planning (MRP).
    • ABC analysis and Pareto principle.
    • Safety stock and reorder point calculations.
  6. Stock Forecasting:
    • Methods for demand forecasting (qualitative and quantitative).
    • Forecasting accuracy and error measurement.
  7. Inventory Management Software:
    • Introduction to inventory management software systems.
    • Benefits and features of inventory management software.
  8. Stock Replenishment Strategies:
    • Reorder point system.
    • Min-max system.
    • Kanban system.
    • Vendor-managed inventory (VMI).
  9. Stock Optimization and ABC Analysis:
    • Identifying and managing high-value items.
    • Prioritizing items for inventory control.
  10. Stock Performance Metrics:
    • Key performance indicators (KPIs) for stock management.
    • Stock turnover ratio.
    • Days’ sales of inventory (DSI).
  11. Stock Auditing and Security:
    • Periodic stock audits.
    • Preventing and detecting stock theft and fraud.
  12. Global Supply Chain Considerations:
    • International stock management challenges.
    • Cross-border logistics and customs considerations.
  13. Environmental and Ethical Considerations:
    • Sustainable stock management practices.
    • Ethical sourcing and supply chain responsibility.
  14. Case Studies and Practical Applications:
    • Real-world examples of successful stock management strategies.
    • Group projects and simulations.
  15. Emerging Trends in Stock Management:
    • Industry 4.0 and the role of technology (IoT, RFID, AI) in stock management.
    • E-commerce and omni-channel retailing implications.