Inventory is one of the most valuable assets of an organization. It should therefore be properly secured and managed. Good management strategies will obviously contribute to organizational success. It is more so important for high monetary value items such as equipment’s, chemicals and supplies, used in the Oil and Gas Services industry. This workshop will focus on the use of quantitative and qualitative techniques, valuation models, strategic management and Accounting tools, to ensure adequate coverage of this important workshop topic. On completion of the workshop, participants should understand the strategic role of Inventory; Understand demand and supply patterns; understand what inventory control is; know how to apply inventory models; should know how to conduct Inventory valuation; understand the concept of different costs for the different purposes and their application; know how to estimate inventory values and analyze inventory for financial management purposes; understand the methods used in Forecasting demand; know what lean production is and more. This course is ideal for all managers who oversee products and services, Purchasing Managers and Officers, Inventory Accounting Staff and officers, other managers whose functions interface supplies, warehousing Inventory and materials Management..