Stores & Inventory Management

/Stores & Inventory Management
Stores & Inventory Management 2018-07-18T14:42:58+00:00

Project Description

Inventory control consists of finding answers to three questions:

  1. Should this item be stocked at all?
  2. If so, when should it be ordered?
  3. How much to order?

Inventory management is an internal business process that companies use to ensure proper control of inventory. This process is often part of the accounting department and involves the heavy use of the company’s automated accounting software package or Microsoft Excel. Reconciliations are a big part of inventory management, as accountants will need to review the information stored in the computer software program and compare it to the actual inventory in the company’s warehouse. Companies expect their accountants to provide accounting information so that the optimum level of inventory is maintained. As the organization grows the process of inventory management needs to be integrated and traceable.

The course is designed to ensure you get a thorough understanding and control of the complete cycle from goods receipt togoods dispatch. The cycle starts with goods receipt, goods storage, inter-store transfers, manufacturing journal, goods dispatch and physical stock verification.

The objective of the course is to ensure that you have full visibility of the tasks and stages in process; you are able to plan the inventory levels and enable the management with required data to take better decisions in managing inventory. Accountants and managers who master this process would be in a position to add more values to their companies and eventually get more authority and faster growth.

Accounting is the core of any business. It is the process that helps the owners and managers understand and evaluate the results of business activities and the state of their business from time to time. Accounting process provides visibility and stability to the business, without proper accounting the businesses would be like the lost ship in the ocean, which is running but unable to identify the outcome and status.

Organisations expect their Financial Controllers (FC) to review the data recorded by the accounts team. They are also involved in the making of various MIS and analytics pertaining to accounting & inventory records for different managers of the organisation. They have to extend  data based support for better decision making for the organisation and ensure development of right controls for the growth and profitability of the company.

  • Graduates wishing to develop career in accounting.
  • Working professionals wanting to enhance their stores and inventory related expertise.
  • Owners and the management who wish to increase control over stores and inventory.

At FAME, we conduct exam after completion of the course and the students are expected to achieve 75% or more score for passing.

Students are required to appear for Online Tests and Offline Examinations at the different stages of the course. Practical Assignments & Projects are given during the course.

Consolidated score with appropriate weight-age to each pattern of testing would be considered for grading in Final Certificate. Successful participants will be awarded Certificate from FAME.

FAME is a Training Institute recognised by KHDA (Knowledge and Human Development Authority – Dubai).

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