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INVENTORY MANAGEMENT (42 HOURS)

Inventory Management_Banner

Effective and efficient inventory management is key to all kinds of businesses. Too much or insufficient inventory can adversely impact the profitability of a company. The essence of inventory management is to decide when, where and how much inventory should be kept for which customer, in order to balance the trade-off between costs and service level. This course is tailor-made for companies to manage their inventory effectively and efficiently. The course covers the fundamental concepts, models and principles of inventory management. Through various industry cases and hands-on exercises, the course equips the participants with knowledge, techniques and skills vital for inventory management.

Why This Course

  • Designed specifically based on local industry demand
  • Highly practical and intensive Latest knowledge and up-to-date technology
  • Case studies highlighting industrial application
  • Expert trainers in the field with industrial experience

Who Should Attend

This module is designed for Supply Chain Management such as supply chain managers, purchasing managers, sales managers and warehouse managers and other professionals involved in planning, inventory management, procurement, and materials management from Precision Engineering, Electronics, Aerospace, Automotive, Retail, Food & Beverage as well as services industries.




What You Will Learn

What You Will Learn

Fundamental Concepts, Models, Principles of Inventory Management
  • Lot sizing models with decision rules
  • Deterministic inventory models with optimal decision rules
  • Probabilistic inventory models with optimal decision rules
  • Dynamic programming in inventory management
  • Case studies and hands-on exercises
Optimal Demand Forecasting and Inventory Network Optimisation
  • Optimal demand forecast and intelligent forecasting system
  • Independent and dependent demand inventory systems
  • Inventory network planning and optimisation
  • Case studies and hands-on exercises



download brochure OR register of interest for course

Inventory Management

Please register your interest for this course under 1. Modular Programmes > 2. Inventory Management in the online form.

Note: SIMTech will contact you once registration for the next run of the course you are interested in opens.

Upon Completion of This Course

Upon Completion of this Course

Electronic Statement of Attainment (SOA) certificates will be issued by SkillsFuture Singapore (SSG) to participants who have attended and attained competency in the Singapore Skills Framework training modules. 

Participants must also meet the following criteria to receive their SOAs: 

  • Achieve at least 75% course attendance;
  • Take all assessments; and
  • Pass the course.

Click here to learn more about the WSQ SOA Certificate.




Statement of Attainment:SSG SOA

Pre-Requisites, Full and Nett Course Fees

Pre-Requisites

  • Applicants should possess a degree in any discipline or a diploma with a minimum of 3 years of related working experience.
  • Applicants who do not have the required academic qualifications are still welcome to apply, but shortlisted candidates may be required to attend an interview for special approval.
  • Proficiency in written and spoken English.

Full Course Fee

The full course fee for this module is $3,000 before funding and prevailing GST.

Nett Course Fee

International
Participants
Singapore Citizens
(39 yrs old or younger), SPRs or LTVP+ Holders
Singapore Citizens
(40 yrs or older)²
Enhanced Training Support
for SMEs¹
$3,210 $963 $363 $363
All fees are inclusive of prevailing GST.

Please note that fees and funding amount are subject to change.

  • Long Term Visit Pass Plus (LTVP+) Holders
    The LTVP+ scheme applies to lawful foreign spouses of Singapore Citizens with (i) at least one Singapore Citizen child or are expecting one from the marriage, or at least three years of marriage, and (ii) where the Singapore Citizen sponsor is able to support the family.

    All LTVP+ holders can be identified with their green visit pass cards, with the word ‘PLUS’ printed on the back of the card.

  • Singaporeans aged 25 years old and above are eligible for SkillsFuture Credit which can be used to offset course fees (for self-sponsored registrations only).

    For more information on the SkillsFuture funding schemes you are eligible for, please visit www.ssg.gov.sg




    How course fees are calculated

    Full Course Fee

    International Participants
    Singapore Citizens (39 yrs old or younger), SPRs or LTVP+ Holders Singapore Citizens Only
    (40 years old and above) ²
     $3,000 $3,000 SME Sponsored ¹
     $3,000  $3,000
    SkillsFuture Funding Not Applicable  ($2,100)  ($2,700)  ($2,700)
    Total Gross Fee $3,000  $900  $300  $300
    7% GST
    $210  $63*  $63*  $63*
    Total Course Fee Payable to SIMTech $3,210  $963  $363  $363
    * Based on 30% of Full Course Fee

    Eligible for SkillsFuture Enterprise Credit (SFEC)

    SkillsFuture Enterprise Credit (SFEC)

    The SkillsFuture Enterprise Credit (SFEC) was first introduced during the Singapore’s Budget 2020 and then recently expanded to a larger group of employers in Budget 2022. It encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.

    Submission of SFEC Claim

    Employers are required to submit their SFEC claims manually via its microsite if they fulfil any of the following scenarios:

    • Employers have sent their foreign employees (excluding foreign employees who hold Long-Term Visit Pass Plus) for training on a SFEC-eligible course;

    Employers can only submit the claims for SFEC after their employees have completed the training course(s). Click here to download the SFEC Claim e-guide.
    NOTE: You will require a Corppass account with "EPJS_User" role assigned prior to login to your account to manage your claims.

    If you are unsure whether your company is eligible for SFEC, you may submit an enquiry to Enterprise Singapore (ESG) via here for their response.




    Contact Us




    download brochure OR register of interest for course

    Inventory Management

    Please register your interest for this course under 1. Modular Programmes > 2. Inventory Management in the online form.

    Note: Received registrations are placed on the waiting list for the next upcoming intake if the current intake is full or there is no available course schedule.



    Schedules

    Modules
    Skills Course Reference Number Training Period
    (Click on dates to view schedule)
    Registration Status
    Inventory Management (42 hours) TGS-2018502769
    EVE 3 Apr 2023 - 31 May 2023

    The Oct 2022 intake is postponed.
    Register interest to Course
    Inventory Management for Smart Manufacturing and Services (40 hours) TGS-2020503175

    Sessions
    FD
    : Full Day  AM
    : Morning PM
    : Afternoon EVE
    : Evening