INVENTORY CONTROL 1 TRAINING OBJECTIVES At the end of the training the students will be able to: - 1. Understand the process of purchase, store and issue of material. 2. To do costing of the store/material consumed and available and the stock. 3. Maintain all necessary / record regarding inventory. 4. Put up purchase requisition as and when material / store become below the optimum level of inventory. 5. Do necessary correspondence internal and external recognized stock, costing purchase etc.. Increase his proficiency in English language. 7. Apply computer to the inventory management in various organization and operate specific software in the field of inventory management. 8. Liaise and Co-Ordinate with different offices with in the organization. CURRICULUM SALIENTS Entry Level Total Duration Course Training methodology Matric 3-Months 30 hrs 40% practical. 0% theory
INVENTORY CONTROL 2 SKILL REQUIREMENTS At the end of the course, the student must be able to: - 1. Prepare the basic documents used for purchase, received and issue of inventory. 2. Understand the procedure of purchase and issue of inventory. 3. Know how to approve the suppliers invoice and correcting it. 4. Calculate the cost of inventories as under various method. 5. Perform duty as a good storekeeper.
INVENTORY CONTROL 3 KNOWLEDGE REQUIREMENTS At the end of the course the students must have knowledge of the following: - 1. Introduction of Inventories. 2. Introduction of organization for inventory control. 3. Levels of inventories. 4. Methods of costing the material issued. 5. Procedure of stocktaking.. Preparation of documents related to inventory record.
INVENTORY CONTROL 4 DETAIL OF COURSE CONTENTS (INVENTORY CONTROL 3-MONTHS) Units & Topics INTRODUCTION Nature of inventory. -Classes of inventory -Direct material. -Indirect material. -Supplies. Goods in process. Finished goods. MATERIAL CONTROL Importance of material control. Advantage of proper material control. Nature of material control Store layout and methods of storage. Level of stock -Maximum level / limit. -Minimum level / limit. -Ordering / Reordering level / limit -Danger point / level ORGANIZATION FOR MATERIAL CONTROL. a) Introduction and functions. Planning and control department. Purchasing department. Receiving and inspection department. Storing and issuing department. Assignment and evaluation Assignment-I Test-I Assignment-2 Test-2 Assignment-3 Test-3 Time frame in hours 20 20 30
INVENTORY CONTROL 5 b) Preparation of documents -Schedule of quotation. -Purchase requisition. -Purchase order. -Receiving and inspection report. -Material return note. -Material transfer note. -Bin card. -Material requisition. -Bill of material. Assignment-4 Test-4 40 METHOD OF COSTING MATERIAL ISSUED. FIFO LIFO Weighted average. Difference between periodic and perpetual inventory system. Definition of scrap, spoiled and defective material. DOCUMENTS Store ledge card STOCK TAKING Method and procedure of annual stocktaking. Continuous stocktaking. Investigating discrepancies. DOCUMENTS: Inventory Sheet Stock discrepancies report Assignment-5 Test-5 Assignment- Test- 30 15 REVISION Final test 15 INTERNSHIP / PRACHTICAL TRAINING IN THE FIELD. 30 Total 200
INVENTORY CONTROL COURSE CONTENTS (FUNCTIONAL ENGLISH) UNITS & TOPICS Revision of grammar, sentence construction ASSIGNMENT AND EVALUATION TIME FRAME IN HOURS 4 Tenses Test # 1 12 Greetings and introduction. Introduce yourself, greetings and titles, greet people formally and informally at different times of the day. 4 Ask about people countries, nationalities and companies. 4 Seeking information: Describe places/objects and locations: ask / Talk about past events. Buying and selling: Oral work seeking information, Things to say at the market. Have to comment and inquire about costs and mode of payments. Assignment # 1 3 Test # 2 3 Letter Writing. Planning a letter, appearance of business letter, different layouts of business letter. General revision Review any weakness Complaints Dealing with complaints; writing a letter of complaint. Incoming and outgoing calls making telephone calls receiving telephoe calls Assignment #2 Test # 3 Assignment-3 Test # 4 3
INVENTORY CONTROL 7 Developing curriculum vitae and job application, letter of acceptances refusal. Letter for interview, acceptance, rejection Internal communication: Writing informal memos, Arrangements for 5 10 minutes talk on chosen subjects. Questions by individual students. Assignment # 4 Test # 5 Final Revision 5 Total 80
INVENTORY CONTROL 8 COURSE CONTENTS (COMPUTER APPLICATIONS) Units & Topics Computer Fundamentals: (Total Hours = 10) Resources Assignment & Evaluation Time Frame in Hours Introduction to computers: Definition, Operations and Characteristics, Hardware and Software. Central Processing Unit (CPU), Arithmetic and Logical Unit, Control Unit (Explain by the help of Diagram on board), RAM, ROM. Classification of computers: Microcomputer, Mini computer, Mainframe computer, Super computer. Introduction of I/O devices: Monitor, Keyboard, Mouse, Hard disk, Floppy disk, Scanner, Printer. Operating System (Windows 2000): (Total Hours = 10) Introduction to Windows 2000, Desktop, Folders and Short cut icons, Start button, Task bar. Recycle bin, My Computer, My Network Places, Components of Windows, Using Explorer, Copying and moving files and folders, Control Panel, Changing system date/time, Regional setting, Customizing Mouse and Keyboard. Using Help, Installation of software programs in Windows 2000. Accessories: Paint Brush, Calculator, Word Pad. Progress Test, Review of weaknesses, General Revision Hands out & Reference Book Hands out & Reference Book Test # 1 02 04 01 03 Assignment # 1 02 Assignment # 2 01 Assignment # 3 02 Assignment # 4 Objective Type Test 03 Assignment # 5 02
INVENTORY CONTROL 9 Word Processing using MS Word 2000: (Total Hours = 30) Introduction to MS Word 2000 Working with Document: Creating, Saving, Opening a document. Entering text, Selecting, Copying and moving text, Spell Check, Auto correction. Editing Document: Undo, Using clipboard to cut, copy and paste Find, Replace and Go to Inserting: Header & Footer, Footnotes, Symbols, Date & Time, Page Numbers, Pictures, Hyperlink, Text box, Comments and Bookmark Formatting: Fonts, Paragraph formatting, Borders and Shading, Bullets and Numbering, Drop caps, Formatting pages and whole document. Mail Merging: Create main document, Data file, Form letters, Get data, Merge to new document. Introducing Tables: Creating tables, Inserting and removing rows and columns, Merge cells, Auto format Printing: Page setup, Print preview, and Printing options. A small project covering the contents of course to enhance the efficiency and practical skill in MS Word. Spread sheet using MS Excel 2000: (Total Hours = 20) Introduction to Excel, Work book and work sheet, Creating, Saving and Opening work books, Entering data in a sheet, Navigation in the sheet, Hand outs & Reference Book Different types of corresponde nce in Office environment Assignment # 03 Do 02 Do Assignment # 7 08 Do Assignment # 8 05 Do Assignment # 9 10 Hand outs & Reference Book Assignment # 10 02 03
INVENTORY CONTROL 10 Selection of cells, Inserting and deleting rows and columns, Moving between sheets. Standard toolbar, formatting toolbar, Undo, Normal and Page Layout view. Formatting data: Formatting cells and text, Alignment of text in a cell, Applying borders, Copying and moving data. Formulas and Functions: Entering, editing and using formulas and functions. Average, If, Left, Max, Min, Mod, Now, Right, Sqrt, Sum, Upper. Working with Charts: Creating different types of charts, Specifying data range and series, Chart options Printing: Setting the margins using Page setup, Printing options, Specifying Header & Footer. A small project embracing the topics covered in the course to enrich proficiency in developing business spread sheets. Internet & Email: (Total Hours = 10) Charts of different business situations Do Assignment #11 02 Do Assignment #12 03 Do Assignment #13 03 Assignment #14 Objective type test 03 04 02 Introducing the Internet concepts, Browsing, ISP, Modem, Connecting to Internet, Internet Explorer, URLs, Web site addresses, Search Engines, Downloading from Internet. Composing and sending Emails, Inbox, Deleting unnecessary Emails. A comprehensive project to review the course contents to identify the weak areas of students, Improve their skills for practical environment with full dexterity. Hand outs & Reference Book Assignment #15 07 Project 03 Total 80
INVENTORY CONTROL 11 BOOK RECOMMENDED 1. Intermediate Accounting by Harry Sinors Joy M.Smith. 2. Cost Accounting (Planning and Control) by Matz / Milton 3. Cost Accounting By Nasir ul Din
INVENTORY CONTROL 12 EMPLOYABILITY OF PASS OUT sectors: - Pass out in Inventory Control can find employment opportunities in the following 1. Personal Business. 2. Store Keeping at different departmental store. 3. Store keeping in small and large industries.