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TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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CIOP sessions are conducted by a pool of faculties who also offer the other international certification programs. The typical faculties are having experience between 20 to 30 years in the domains of procurement and supply chain and have a wealth of industry and teaching experience. All of them have great passion for teaching and believes in continuous learning and sharing those learnings. The faculties also go through periodic trainings titled “Faculty Development Programs” to keep them abreast with the latest developments in supply chain and teaching methodologies. Basically, all the faculties are practitioners or consultants who work for the industry and teach supply chain during their spare time or execute this as a project.


A Items-based Pareto Analysis is used to determine the strategic inventory needs of a company. A form of Pareto Analysis, applied to a particular group of items so as to apply more selective inventory control. The inventory value for every item is derived by multiplying the total inventory cost by the average unit price and then ranking the items in descending order of highest to lowest inventory cost.

A good warehouse system will allow a company to control the flow of goods from the supplier, through the production line, to the customer. Thus you need a good return on your investment from both the manufacturing and distribution aspects of the operation. A system should also be able to track and trace all of these phases of the supply chain. Without a good warehouse management software, the chain can easily become unmanageable. If you run an online business then you know that your warehouse can be overwhelmed by large quantities of merchandise.

It can be quite a nightmare for warehousing and manufacturing company if it does not have an efficient warehouse system in place. Your company's financial statements will show you how well or badly your warehouse is managed if you record the sales of each product in the warehouse and how much of this product is actually sold at the end of the month. A better way to look at the data is to look at the sales of items divided by sales of products per location and then divide the total number of items sold by the number of locations in your warehouse.


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Certified Inventory Optimization Professional 

CIOP is an end-to-end supply chain certification that contains 30 modules such as Introduction to Supply Chain Management, All About Inventory, Production Planning System, Strategic Business Planning, Sales & Operations Planning, Master Scheduling, Material Requirements Planning, Demand Management, Capacity Management, Forecasting, Production Activity Control, Procurement, Order Quantities, Independent Demand Ordering Systems, Warehouse Management, Transportation Management, Supplier Relationship Management (SRM), Customer Relationship Management (CRM), Introduction to Quality, Introduction to Packaging, Introduction to Process, Lean, Six Sigma, Total Quality Management, Theory of Constraints, Supply Chain Technologies, Supply Chain Techniques, Industry 4.0, International Standards and Supply Chain Risk, Safety and Security. 

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CIOP Knowledge Series

One-Minute Supply Chain Facts

The most recent video is available here. To access the past videos in the One-Minute Supply Chain Facts Series, please click the playlist icon located on the Top-Right of the video.





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