CD course - "How to achieve at least 98% Stock Record Accuracy"

1) Introduction
2) Overview of the 10 course sessions
3) Guarantee
4) System requirements

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Session 1 preview free
Fees and application form

We have been helping companies improve their stock record accuracy for many years starting the project using our Data Management course. This tried and tested method for improving stock record accuracy has now been made available on CD and comes with complete instructions for managing the project. We normally expect to see a significant improvement in stock record accuracy within 3 months and the 98% stock record accuracy milestone to be reached within 6 months by following the simple method outlined in this course.

You can preview the course and see the first session free to allow you to evaluate the concept.

n.b. It has been shown time and time again that it is far more cost effective to work with a high level of stock record accuracy, the only problem is - how to get there!

Inaccurate stock records are a major cause of expense and customer service failures in companies. Everyone now recognises you cannot inspect in quality for a product yet too many companies still try to correct stock data quality by counting and re-counting their stock or by over stocking or both. This course will show you how to design a stock management process that will result in the high level of data accuracy that is essential for the efficient running of your company and to achieve the excellent customer service levels demanded by your customers.

There are 3 underlying objectives for a stock record accuracy project -

• The first objective is the most important and is often neglected, it is to establish a culture where stock record accuracy is seen as important by everyone - the why.

• The second objective is to establish robust and reliable stock recording processes and procedures - the how.

• The third objective is to establish a routine of stock record accuracy auditing which has the focus of not only correcting the data but also of tracking down causes of error - the feedback.

These three objectives run through the project programme below. I have outlined 10 sessions which are guaranteed to significantly improve your stock record accuracy, in most cases to over 98%. The first 8 sessions should be run at weekly intervals. Sessions 9 and 10 follow on when your control group is up to 100% accurate.

Along with the course are be suggestions for managing the project starting with the selection of the task force and, crucially, a suitable task force leader.

Each session starts with an audiovisual presentation (between 5 and 10 minutes long using Microsoft Internet Explorer or any other browser). An agenda is included with the course instructions for the rest of this meeting and the jobs for the task force for the period up the following meeting. This pattern should be repeated throughout the project.

• Why stock record accuracy is so important
• Defining stock and the difference between stock and work in progress

• Define the boundaries of each storage area
• Initiate collection of stock record accuracy data from a random sample of stock. Record the physical count and the computer stock record for, say, 100 items in each store before next session.

• Definition of stock record accuracy with example
• Count tolerances - what and why
• Stock record accuracy programme the 5 principles underlying the course

• Evaluate your stock record accuracy results and discuss.
• Discuss and decide need for count tolerances.

• Control groups

• Decide on control groups for each store
• Decide on method to display results.

• Education who and what
• Analysis of control group results
• Backflushing (if relevant)

• Decide who needs education and how to do it
• Analyse results from control groups.

• Developing a reliable process

• Discuss feedback from education
• Experiment with all the system transactions for recording stock movement and prepare a demonstration of the recommended transactions with their effect on all parts of the system
• Start to draw up stock recording procedures and processes based on the experiments
• Analyse results from control groups agree causes of errors and set up corrective actions

• Housekeeping and other relevant physical storage issues
• Limited access?

• Discuss housekeeping, access and other physical issues
• Draw up shopping list and assign responsibility for submitting purchase requests if necessary.
• Agree stock recording processes following the demonstration of the available transactions

• Analysing control group - the 5 why's
• Typical causes of errors

• Review physical storage
• Continue to analyse results from control groups agree causes of errors and set up corrective actions
• Discuss draft stock recording procedures and processes and amend as necessary

• Analysis of control group - Pareto
• Fishbone diagrams for stock record accuracy

• Continue to analyse results from control groups agree causes of errors and set up corrective actions
• Discuss when control group will be up to 100% so that stock balances can be initialised

• Initialise balances
• Cycle counting methods - ABC, random, process control

• Decide timetable and responsibilities to initialise stock balances
• Agree cycle counting methods to be used and responsibilities

• Agree performance measures and responsibilities
• Complete and arrange to publish stock recording procedures and processes.
• Discuss timescale to eliminate annual physical stock checks
• Celebrate!

• If you do not feel the course has been worth while I will refund all fees paid, no questions asked.

• Computer running Windows 98 or later.
• Microsoft internet explorer v 5 or above

Session 1 preview free
Fees and application form

Phil Robinson - www.bpic.co.uk   - February 2003