Basic Statistics

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Duration 3 days -21 hrs.

 

Overview

 

The Basic Statistics training course provides participants with a foundational understanding of statistical concepts and techniques. Through theoretical learning and practical exercises, participants will gain the knowledge and skills necessary to analyze data, interpret statistical results, and make informed decisions based on statistical findings.

 

Objectives

 

  • Understand fundamental statistical concepts and terminology.
  • Learn how to summarize and visualize data using descriptive statistics and graphical methods.
  • Explore probability theory and its applications in statistical analysis.
  • Gain proficiency in inferential statistics, including hypothesis testing and confidence intervals.
  • Develop skills in selecting and applying appropriate statistical techniques to solve real-world problems.
  • Learn how to use statistical software for data analysis and interpretation.
  • Apply statistical methods to make data-driven decisions and draw meaningful conclusions.

 

Audience

 

  • Business Professionals: Individuals working in business roles who need to analyze data and make data-driven decisions. This includes managers, executives, marketers, and business analysts.
  • Data Analysts: Professionals responsible for collecting, analyzing, and interpreting data to provide insights and support decision-making processes within organizations.
  • Researchers and Academics: Students, researchers, and academics from various disciplines (e.g., social sciences, natural sciences, economics) who need to understand statistical methods for conducting research and analyzing data.
  • Healthcare Practitioners: Healthcare professionals, including doctors, nurses, and medical researchers, who use statistical methods to analyze patient data, conduct clinical trials, and research healthcare outcomes.
  • Finance Professionals: Individuals working in finance roles, such as financial analysts, investment bankers, and accountants, who need to analyze financial data and trends using statistical techniques.
  • Quality Assurance Professionals: Quality assurance engineers and professionals responsible for monitoring and improving product quality may benefit from understanding statistical methods for quality control and process improvement.
  • Educators: Teachers, trainers, and educators who want to incorporate statistical concepts into their curriculum or training programs to enhance students’ analytical skills and understanding of data.
  • Government Officials and Policy Analysts: Professionals working in government agencies or policy research organizations who use statistical data to inform policy decisions and analyze societal trends.
  • Anyone Seeking to Enhance Data Literacy: Individuals from diverse backgrounds who want to improve their understanding of statistical concepts and techniques to better interpret and analyze data in their personal or professional lives.
  • Entry-Level Professionals and Career Changers: Individuals looking to enter fields that require data analysis skills may benefit from a Basic Statistics training course to build a foundational understanding of statistical concepts and methods.

 

Pre- requisites 

  • No prior knowledge of statistics is required. However, a basic understanding of mathematics, including arithmetic and algebra, would be beneficial.

Course Content

 

Day 1: Introduction to Statistics and Descriptive Statistics 

 

Session 1: Understanding Statistics 

 

  • Definition of statistics 
  • Importance and applications of statistics in various fields 
  • Types of statistical analysis (descriptive vs. inferential) 

Session 2: Data Types and Data Collection 

 

  • Types of data (qualitative vs. quantitative) 
  • Methods of data collection (surveys, experiments, observations) 
  • Understanding variables (independent, dependent, categorical, continuous) 

 

Session 3: Descriptive Statistics 

 

  • Measures of central tendency (mean, median, mode) 
  • Measures of variability (range, variance, standard deviation) 
  • Interpreting and presenting data using frequency distribution tables, graphs, and charts (bar graphs, histograms, pie charts) 

 

Session 4: Practical Exercises 

 

  • Hands-on exercises to calculate and interpret descriptive statistics 

 

Day 2: Probability and Inferential Statistics 

 

Session 1: Probability Basics 

 

  • Understanding probability concepts (sample space, events, probability rules) 
  • Calculating probabilities (conditional probability, independent events, Bayes’ theorem) 

 

Session 2: Sampling and Sampling Distributions 

 

  • Types of sampling methods (simple random, stratified, cluster, systematic) 
  • Sampling distribution of the sample mean 
  • Central Limit Theorem and its implications 

 

Session 3: Confidence Intervals and Hypothesis Testing 

 

  • Constructing confidence intervals for population parameters 
  • Hypothesis testing basics (null hypothesis, alternative hypothesis, p-values) 
  • Performing hypothesis tests for means and proportions 

 

Day 3: Regression Analysis and Practical Applications 

 

Session 1: Introduction to Regression Analysis 

 

  • Understanding linear regression 
  • Assumptions of linear regression 
  • Interpreting regression coefficients and goodness-of-fit measures 

 

Session 2: Multiple Regression and ANOVA 

 

  • Extending regression analysis to multiple predictors 
  • ANOVA (Analysis of Variance) basics 
  • Post-hoc tests and interpreting ANOVA results 

 

Session 3: Practical Applications 

 

  • Real-world examples and case studies applying statistical techniques 
  • Interpretation and communication of statistical results 
  • Ethical considerations in statistical analysis and reporting

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  • Warehouse supervisors, team leaders, and managers.
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  • Logistics and distribution supervisors.
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  • Supply chain and operations professionals.
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Course Outline

  Day 1: Warehouse Processes, Layout, and Storage Controls Module 1: Warehouse Operations and Process Controls  
  • Warehouse roles within the supply chain.
  • End-to-end flow: receiving, put-away, storage, replenishment, picking, packing, and dispatch.
  • Physical stock movement and corresponding system transactions.
  • Responsibilities, authorization, and segregation of duties.
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  • Functional zones, movement paths, and space utilization.
  • Receiving, storage, picking, staging, and dispatch areas.
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  • Fixed and dynamic location systems.
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  • Layout bottlenecks and their effects on productivity and inventory control.
  Module 3: Receiving and Put-Away  
  • Purchase orders, delivery documents, and expected receipts.
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  Module 4: Storage, Stock Rotation, and Replenishment  
  • Storage discipline and location integrity.
  • FIFO and FEFO principles, applications, and limitations.
  • Batch, lot, and expiry-date management.
  • Controls for slow-moving, obsolete, damaged, and expired stock.
  • Replenishment of picking locations.
  • Supervision and review of stock rotation compliance.
    Day 2: Order Fulfillment and Inventory Accuracy Module 5: Picking Strategies and Order Fulfillment  
  • Discrete, batch, zone, and wave picking.
  • Selecting picking strategies for different order profiles.
  • Pick paths, location sequencing, and travel reduction.
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  • Handling short picks, substitutions, cancellations, and returns.
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  • Item master data, units of measure, and location records.
  • On-hand, available, allocated, and quarantined stock.
  • Transaction controls for receipts, transfers, issues, returns, and adjustments.
  • Common causes of physical and system stock mismatches.
  • Barcode scanning and WMS control points.
  • Inventory reconciliation and supporting documentation.
  • Measuring inventory accuracy and interpreting discrepancies.
  Module 7: Cycle Counting and Physical Inventory  
  • Cycle counting versus full physical inventory.
  • ABC classification and risk-based count priorities.
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  Module 8: Shrinkage Reduction and Inventory Protection  
  • Sources of shrinkage: loss, damage, theft, misplacement, and recording errors.
  • Access controls and accountability for stock movements.
  • Controls for high-value and sensitive inventory.
  • Returns, write-offs, scrap, and disposal controls.
  • Exception reporting and unusual transaction patterns.
  • Investigating recurring losses and unexplained adjustments.
  • Preventive and detective controls for shrinkage reduction.
    Day 3: Performance Management, Process Review, and Improvement Module 9: Warehouse Productivity and Inventory KPIs  
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  • Put-away productivity and replenishment performance.
  • Picking productivity and order accuracy.
  • Inventory accuracy and cycle count variance.
  • Space utilization and storage capacity.
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