Introduction to Inventory Management

At BBSMIT, our students learn the necessary aspects of inventory and stock management needed for a business to do well. The module teaches learners why it is important to oversee stock management properly to prevent disruptions, cut down on waste, and ensure a good supply at all times. They learn to distinguish between the different kinds of inventories and what stockkeepers are responsible for.

• Role of a Stock Keeper: Identify the role of a stock keeper in handling recordkeeping, observing movements of goods, and guaranteeing the safe storage of products in warehouses or stores.
• Types of Inventories (Raw Material, WIP, Finished Goods): Review main inventory sections used in industries such as raw material, production items, and ready items.

Stock Registering Methods

Our students are taught at BBSMIT how to keep their stock records clean and efficient using both old and contemporary tools. Through stock registration, businesses are able to track their inventory and ensure their operations are clear. This module looks at what are the pros and cons of various registering methods and how to make sure inventory reports are completed promptly.

• Manual Registers vs. Digital Records: Learn the differences between paper-based stock logs and software-based inventory systems. Understand which method suits small-scale setups and how digital tools improve accuracy and efficiency in larger operations.
• Daily, Weekly, and Monthly Stock Reporting: Explore the importance of routine stock updates. Practice how to generate reports based on frequency to help businesses track usage, detect shortages, and plan future stock requirements effectively.

Software & Tools Used

At BBSMIT, we ensure students gain hands-on experience with industry-relevant tools that streamline inventory management. This section teaches students about the key software businesses rely on to follow, direct, and enhance stock operations. They will study both basic tools like Excel as well as applications meant for managing inventories.

• Introduction to Excel for Stock Keeping: Understand how to work with MS Excel to set up a stock register, manage things on your list, use formulas, and produce overviews of your inventory. Excel acts as a helpful tool for inventory management in businesses of various sizes.
• Overview of Inventory Software (Tally, Busy, Zoho Inventory, and Marg): Get a comprehensive overview of top inventory software. Learn how these tools help automate stock updates, generate real-time reports, and support purchase and sales tracking to improve accuracy and efficiency.

Inventory Control Techniques

At BBSMIT, we guide students in mastering key inventory control methods that help businesses reduce waste, improve cash flow, and maintain stock efficiency. This module focuses on proven techniques and calculations used in professional stock management to ensure timely supply and cost control.

• FIFO, LIFO, ABC Analysis: Learn about FIFO (First In, First Out) and LIFO (Last In, First Out), two basic inventory control strategies used to manage cost accounting and stock rotation. Understand ABC Analysis, a technique to classify items by value and importance, helping prioritize inventory control efforts.
• Minimum Stock Level & Reorder Level Calculation: Gain knowledge of how to set minimum inventory thresholds and calculate reorder points. These techniques help avoid stockouts and overstocking, ensuring smooth operations and timely procurement.

Goods Receipt & Dispatch

At BBSMIT, we prepare students to handle one of the most essential functions in inventory management—receiving and dispatching goods. This module trains learners in documenting, verifying, and processing incoming and outgoing stock with accuracy and accountability.

• Preparing GRN (Goods Receipt Note): Learn how to create a proper Goods Receipt Note, a document used to confirm the receipt of goods from a supplier. Understand how to record date, quantity, and supplier details accurately for stock entry.
• Checking Invoices, Quantity, and Condition: Learn how to compare purchase orders and invoices with arriving goods. Learn how to inspect the quantity, quality, and condition of items before final acceptance or dispatch.

Warehouse Organization & Safety

Managing the warehouse in a systematic way and making safety a priority play a key role in handling items efficiently at BBSMIT. It teaches learners the basics of setting up and maintaining an organized and accident-free storage area.

• Proper Stacking & Labeling: Organize your stock neatly using a method called systematic stacking, and be sure to label every row or shelf clearly. Realize that good placement in warehouses makes things easier to find, safer, and helps track your products better.
• Safety Measures in Stock Areas: Be sure to learn the warehouse’s main safety policies, which deal with using equipment properly, maintaining clear paths, and knowing what to do in emergencies. It makes the storage area safe and meets all the needed standards.

Stock Audits & Loss Prevention

At BBSMIT, we prepare learners to efficiently manage inventory by teaching effective stock auditing techniques and proactive loss prevention methods.

• Physical Stock Verification: Learn to conduct routine physical verification of stock to ensure records match actual inventory. Understand how to prepare audit schedules and perform accurate counts to detect mismatches early.
• Identifying Pilferage, Expiry, or Damage: Receive instruction on how to handle expired items, spot damaged stock, and spot the telltale symptoms of theft. To reduce losses and increase accountability, be aware of the procedures for documentation and corrective actions.

Reporting & Coordination

At BBSMIT, we emphasize the importance of timely reporting and smooth coordination to ensure efficient inventory operations and inter-departmental communication.

• Daily/Weekly Reports to Management: Learn how to create and maintain professional daily and weekly inventory reports. These reports help management make informed decisions by showing stock status, discrepancies, and usage trends.
• Coordination with the Purchase and Sales Teams: To prevent stockouts or overstocking, learn how to work efficiently with the buy and sales departments. Students are trained in communication strategies, receive alerts, and provide accurate data to aid smooth business operations.

Practical Assignments

At BBSMIT, we believe hands-on training builds real confidence. Our practical assignments ensure that students apply what they learn in real-world formats.

• Maintain a Stock Sheet in Excel: Students will learn how to prepare and update a professional stock register in Excel, including columns for item name, opening stock, inward, outward, and closing stock with dates.
• Prepare a Mock Inventory Report: Learners will practice generating a mock inventory report showing stock status, discrepancies, and reorder levels. This helps students understand how to communicate inventory insights to higher management effectively.

Enroll Now!

Enroll now in the Inventory & Stock Management Course at BBSMIT to gain practical skills in stock control, Excel, and inventory tools. Get certified, learn hands-on, and start your career in warehouse and logistics management today!