L4M7 Chapter 2: Warehousing and Inventory

Materials handlingthe short distance movement, storage and control of items.  

 

Pallets: there are two types of pallets. The two-way entry pallets (where they can be picked up from front and back) and four-way entry pallets (picked up from any side). 

·        Pallets are manufactured in standard sizes. ISO 6780 specifies 6 standard pallet dimensions 

·        The size of racks is dependent on the pallet sizes. Slip sheets might be used to sit on top of a pallet and separate it from the goods sitting on it. This makes it easier to remove a pallet later 

·        If the supplier’s pallet sizes are compatible with the buyer’s, there can be efficiencies 

·        Pallets are re-usable, but those provided by the supplier would be returned once no longer in use. This means that pallets will be stored in a part of the warehouse for return to suppliers 

·        Pallets aren’t required if other storage types are used e.g. tote boxes, storage bins 

 

Unitisation: the use of unit loads for handling items. Unit loads are a grouping together of similar items for storage on pallets. This allows them to be stacked on uniform shelving.  

·        Items in a unit load are held together by strapping which allows them to be moved as a single unit.  

·        Tote boxes could be held together as unit loads. 

 

Storage without racking: some goods could be stored without need for racks: 

·        Block stacking: stacking items on top of each other without racks / pallets 

·        Post pallets and cage pallets: where stacking might be unstable, post / cage pallets might be used. These are pallets with upright columns in each corner. The pallets sit on the columns 

o   Post pallets are used for regularly shaped goods, cage pallets for irregularly shaped goods 

 

Manual handling equipment: this could be equipment on wheels (e.g. trolleys) or moving stock by hand. 

·        Trolleys: can be used as containers. Could be supermarket trolleys 

·        Dollies: platforms on four wheels, steered using a handle 

·        Pallet truck: for moving heavier loads. Hydraulic systems are used to raise pallets  

·        Roll cages: cages on four wheels that can be moved manually 

·        Order picking trolleys: trolleys used by operators to move items around or pick items for customer orders 

 

Powered materials handling equipment: batter powered pallet trucks could be used for longer distances, larger weights. 

 

Forklift trucks: they have a counterweight at the back of the truck to balance against weight carried at the front.  

·        The most common type is the driver-operated counterbalanced forklift truck (usually powered by LPG or electric) 

·        If operated indoors, forklifts should be electric 

·        Reach trucks: these are designed for narrower aisles with tall racking. The forks can reach higher 

·        Drum handlers: for moving cylindrical drums  

 

Some of the downsides of forklifts include the cost, need for training, requirement for wide aisles. 

 

Selected other equipment: 

·        Cranes: for moving heavy loads 

·        Rollers: a line of rollers connecting one location to another. Items roll along it 

·        Conveyor systems: moving along a conveyor belt 

·        Monorails: variant of conveyor system, where there is an overhead rail 

·        Carousels: series of trays / bins, linked together to create a chain. Carousel revolves to bring the appropriate tray to the operator 

 

weighbridge might be used to measure the weight of a truckload of items (a large weighing machine). This might be needed when goods arrive into a warehouse, or leave. 

 

 

Packing and packaging: 

·        Packing means putting items into packages and can also refer to the package itself. 

·        Packaging can use bubble wrap, polystyrene etc for protection. 

·        ISO 18602 classifies packaging into 3 categories: 

o   Primary packaging: packaging in immediate contact with item e.g. food held in tins 

o   Secondary packaging: packaging that holds a number of items together, that are in primary packaging 

o   Tertiary packaging: packaging for transporting goods 

·        ISO 14001 would be relevant for the environmental aspect of packaging 

 

Containers: 

·        Shipping containers are built for intermodal freight transport i.e. across ship, rail, road 

·        Most containers are dry freight 

·        Containerisation: using standardised containers for storing and transporting loose units 

Warehouse management systems (WMS): IT-based system that integrates stock management activities. E.g. forecasting, stock control, recording receipts etc. 

Automated guided vehicles (AGV): driverless vehicles for use in warehouse. Now there are robotic forklift trucks, which are mobile robots (more advanced).  

·        AGVs needed markers, lasers etc to direct themselves whereas mobile robots don’t 

·        Other robotic equipment include cranes and packers 

·        Automated packaging machinery are now used along conveyors. These might be computer-controlled conveyor systems 

 


 

Inventory 

 

In a manufacturing company, there are 4 categories of inventory: 

·        Raw materials and components 

·        Work in progress 

·        Finished goods 

·        Other supplies or indirect supplies 

 

The first category can be divided into raw materials, components and subassemblies: 

·        Components are partly manufactured products 

·        Subassemblies are party assembled elements (larger than components, manufactured using raw materials and components) 

 

Opening and closing stock: 

·        Opening stock: total inventory quantity held at the beginning of the financial year (measured by cost) 

·        Closing stock: inventory quantity held at end of the financial year 

 

The above are used to calculate costs of production and cost of goods sold. 

·        There are different ways of measuring stock: e.g. recording stock movements in an inventory management system, or physically counting stock. 

 

Safety stock 

When demand for stock exceeds quantity held in store, there’s a stockout 

·        If the stockout relates to an item used for production, production may need to stop 

·        If stockout relates to finished goods, there might be delayed or lost sales 

·        Safety / buffer stock is needed: extra quantity held in stock. This is the difference between quantity expected to be sufficient and the actual quantity held 

o   This should be based on the need to keep inventory costs relatively low, but cater for the uncertainty of demand 

 

Obsolescence and redundancy of stock 

 

Stock obsolescence: when stock becomes out of date, such that it’s no longer of use. Obsolete items should be ultimately written off if demand is no longer there, and disposed of. 

 

Stock redundancy: this is when an item has no use for its owner. It can happen if a company changes its requirements, or is holding too much inventory and therefore doesn’t expect to use the item at all.  

 

Obsolete stock might be difficult to sell because it is out of date. It might be possible to recover some of the cost. You might be able to sell redundant stock though, if other businesses still have use for it. 

 

Direct and indirect supplies 

Direct supplies: raw materials, components, subassemblies that go into manufacturing end-product. 

Indirect supplies: items that don’t go directly into manufacturing, but are used for operational purposes. These are also known as MRO supplies (maintenance, repairs and operations). 

·        Indirect supplies can be used by manufacturing, sales and marketing, general admin activities etc 

·        In manufacturing, they could be consumables, tools or machine spares 

 

ABC classifications of stock 

 

Pareto analysis has shown that 20% of stock generally accounts for 80% of the value of stock turnover. This has been developed into ABC analysis: 

·        A: small number of stock items with high turnover (10-20%) 

·        B: between categories A and C (10%) 

·        C: low value of turnover, large number of stock items (70-80%) 

 

With Category A, one should avoid excess stockholding because there would need to be larger inventory. But stockout can have severe consequences. 

 

With Category C, if an item is used infrequently, no items might be held in stock (may just be ordered as needed). If an item is in high turnover, there may be large quantities held (as items are small). 

 

MRP systems will use a forecast of sales demand for each product item to develop bill of materials.  

 

Dependent and independent demand items 

 

Dependent demand items: this is when demand for an item depends on the quantity of the product manufactured. The bill of materials will contain all dependent demand items. 

Independent demand items: this is when demand isn’t directly dependent on how much is produced. This would apply to most indirect supplies. 

 

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About Me

I live in the UK, and started work in Consulting in 2023. I have a keen interest in the public sector, particularly in large-scale investments and procurements. My experiences to date have spanned Central Government and Defence procurements. I started CIPS at the end of 2024, passing L4M1 in November 2024. I have chosen to self-study and am finding this to be a great and affordable option. Please do reach out at procurementcipshelp@gmail.com with any questions!