Preamble: Inventory Management
Inventory management, or inventory control, is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory. There are several schools of thought that view inventory and its function differently.
These will be addressed in this course, but first, we present a foundation to facilitate the reader’s understanding of inventory and its function. The course provides an outline of the importance of an effective inventory management system. Inventory is looked at in terms of the overall cash flow of a business entity. The course also looks at methods of applying an effective inventory management system and more current approaches to inventory management.
Preamble: Asset Management
Good asset management is critical in projects and programs. Significant assets are infrastructure assets with long life spans and enormous capital outlay that are vital to providing a foundation for economic activity.
The asset management of physical assets is critical for any organization. How we manage the assets determines the efficiency of projects, Programs, and organizations.
Much money is spent annually on maintaining and developing the asset base and providing services to improve asset management has in itself become a major competitive market internationally.
This training course aims to support this drive to improve management practices by presenting standards, methodologies, and guidance on how to set up good asset management.