In the store and inventory management department, the Inventory Manager checks the inventory levels of businesses as well as lead a team of inventory to receive and record new stocks. They have record record-keeping abilities and possess great attention to detail and a business mindset.
Roles and Responsibilities
- Inventory Manager is responsible for designing and implementing an inventory tracking system for optimizing inventory control procedures.
- They also examine the levels of supplies and raw material for determining shortages. And, they prepare detailed reports on inventory operations, stock levels, and adjustments.
- Inventory Manager evaluates new inventory for ensuring it’s ready for shipment as well as performs daily analysis for predicting potential inventory problems.
- They have abilities to analyze different suppliers for obtaining the best cost-effective deals. Moreover, they also recruit and train new employees.
- Next, they ensure product stock is adequate for all distribution channels and record daily deliveries and shipments for reconciling inventory.
- Lastly, they use software for monitoring demand and document characteristics of inventory. And, also place orders for replenishing stock avoiding insufficiencies or excessive surplus.
Vskills Certified Store and Inventory Manager
Vskills store and inventory manager certification help candidates to prepare according to the company’s need for management of inventory and stores department. The certification validates the candidate’s knowledge and skills in various areas in warehousing, picking strategies and equipment, order picking methods, storage and handling equipment, etc. Further, it will also cover the concepts of warehouse costs, inventory management, inventory costing, facilities location, facilities layout, and materials handling. However, candidates who are professionals and graduates will get benefits from this certification. That is to say, earning Vskills Store and Inventory Manager Certification will advance the candidate skills to differentiate in today’s competitive job market. Moreover, it will improve their skill set and make their CV stronger.
Vskills being India’s largest certification providers gives candidates access to top exams as well as provides after exam benefits. This includes:
- The certifications will have a Government verification tag.
- The Certification is valid for life.
- Candidates will get lifelong e-learning access.
- Access to free Practice Tests.
- Candidates will get tagged as ‘Vskills Certified’ On Monsterindia.com and ‘Vskills Certified’ On Shine Shine.com.
Course Outline
Certified Store and Inventory Manager covers the following topics –
Warehousing
- Introduction
- Benefits of Warehousing
- Functions of Warehouses
- Need for Holding Stock
- Characteristics of Warehouses
- Warehousing Efficiency and Effectiveness
- Information Technology Requirements
- Measuring Performance
Warehouse Processes
- Introduction
- Receiving
- Pre-Receipt
- In-handling
- Preparation
- Offloading
- Checking
- Cross Docking
- Recording
- Quality control
- Put-away
Warehouse Operating Principles
- Operating Principles
- Warehouse Design
- Types of Warehouses
- Warehouse Location
- Planning the Distribution Warehouse
- Warehouse Layout
- Qualitative Factor Rating Method
Picking Strategies and Equipment
- Introduction
- Picker to Goods
- Goods to Picker
- Automated Picking
- Material Handling Equipment
- Storage Equipment
Order Picking Methods
- Introduction
- Industry Trends Affecting Order Picking
- Modern Order Picking Systems
- Stock Profiling
- Order Picking Alternatives
- Order Picking Strategies
- Pick-To-Light Systems
- Paper Pick Lists
- Pick by Label
- Pick by Voice
- Barcode Scanning
- Radio Frequency Identification
- Pick by Light/Pick to Light
- Put to Light
- Type of Picking System and Equipment
Warehouse Processes from Replenishment to Dispatch
- Replenishment
- Other Activities
- Value Adding Services
- Stock Management
- Stock or Inventory counting
- The Annual Count
- Safety and Security
- Returns Processing
- Dispatch
- Role of Driver in Transportation
Storage and Handling equipment
- Storage Systems
- Pallets
- Automated storage and retrieval Systems (AS/RS)
- Temperature-Controlled Storage
- Storage of Packaged Dangerous Substances
Warehouse Costs
- Types of costs
- Return on investment (ROI)
- Traditional versus Activity Based Costing Systems
- Activity based Costing for Multi-Principals
- Calculating Warehouse Storage Costs
- Logistics Charging Methods
Inventory Management
- Inventory Basics
- Inventory Management Basics
- Types of Inventory
- Classification of Inventory Systems
- Inventory Management Models
- Inventory Control and Replenishment Techniques
- Inventory Accuracy and Cycle Counting
- Demand Forecasting
- Inventory Performance Measurement
- Selective Inventory Management
- Aggregate Inventory Planning
- Exchange Curve
- Deterministic Inventory Models
- Probabilistic Inventory Models
- Economic Order Quantity( EOQ)
- ABC Inventory Planning
- XYZ Analysis
- Inventory Control of Slow Moving Items
- Recent Developments in Inventory Management
Inventory Costing
- Inventory Cost Types and Affecting Factors
- Activity-Based Costing
- Acceptance Sampling Plans
- Accounting System
- Advance Payment
Facilities Location
- Introduction
- When Does A Location Decision Arise?
- Steps In The Facility Location Study
- Subjective, Qualitative And Semi-Quantitative Techniques
- Locational Break-Even Analysis
- Some Quantitative Models For Facility
- Some Case Examples
Facilities Layout And Materials Handling
- Introduction
- Basic Types Of Plant Layouts
- Plant Layout Factors
- Layout Design Procedure
- Flow And Activity Analysis
- Space Determination And ‘Area Allocation
- Computerised Layout Planning
- Evaluation, Specification, Presentation And Implementation
- Materials Handling Systems
- Materials Handling Equipment
Forecasting Demand
Just-in-Time
- Principles of just-in-time
- Achieving just-in-time operations
- JIT Implementation Design
- Benefits and Disadvantages
- Extending JIT
- Comparisons With Other Methods
Future Developments
- Future Trends
- Sustainability in Warehousing and Inventory Management
- Automation in Warehousing and Inventory Management
- Big Data in Warehousing and Inventory Management
Preparation Guide for Vskills Certified Store and Inventory Manager
Preparation Guide is the essential part of every exam that a candidate has to give most of the time. That is to say, without having the correct preparation resources will create difficulty while preparing for the exam. So, candidates need to do research and find the best resources available to get a better understanding of the exam. However, for Certified Store and Inventory Manager exam some of the resources Vskills provide the resources that will help to prepare in a good way. This include:
Refer Exam Objectives
Exam objectives are important as it provides brief about the exam by diving the syllabus into topics that include various sections and subsections. Candidates should be to get all the content and topics related to the exam. As it provides a benefit to candidates to understand better during the preparation time. Doing this will help them to understand things more accurately. For the Certified Store and Inventory Manager topics include –
- Warehousing
- Warehouse Processes
- Warehouse Operating Principles
- Picking Strategies and Equipment
- Order Picking Methods
- Warehouse Processes from Replenishment to Dispatch
- Storage and Handling equipment
- Warehouse Costs
- Inventory Management
- Inventory Costing
- Facilities Location
- Facilities Layout And Materials Handling
- Forecasting Demand
- Just-in-Time
- Future Developments
Vskills E-Learning
With E-learning for Vskills Certified Store and Inventory Manager, candidates will get a better understanding of the content using the online learning material for a lifetime. Moreover, Vskills provides hard copy material that will help them in improving skills and staying up to date with the learning curve for getting better opportunities.
Refer: Certified Store and Inventory Manager Sample Chapters
Books for Reference
Candidates should start taking help from reference books as it can provide an advantage for understanding things more accurately. However, for the Certified Store and Inventory Manager exam, there are various books available which you can find online or in libraries. Some of the books are as follows:
- Essentials of Inventory Management by Max Muller
- Inventory Control and Management Book by Donald Waters
Evaluate yourself with Practice Test
It is important to understand that to get full perfection practice is essential. That is to say, candidates after completing a part of any topic should assess using the practice. This will provide a clear view of where they stand and help them to improve more. Moreover, with this, they can learn about their weak areas as well as answering skills. So, get prepared and become certified.
