Action Bucket

TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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CIOP is an end-to-end supply chain certification program that focuses on practical aspects in addition to the theoretical concepts. For example, a typical supply chain certification may teach what is cycle counting and how to do the ABC classification. CIOP starts with these fundamental concepts and goes on to teach the participants to develop the cycle counting policy of an organisation, 10+ criteria used in ABC classification, multi-criteria ABC classification and cycle counting best practices to increase the efficiency and effectiveness. In case of CIOP, you learn the concepts and will be ready to implement in your day-to-day job in supply chain. The pedagogy is structured such a way that all the concepts are explained with industry examples, which makes CIOP as the preferred training and certification program for supply chain within the industry.



An action bucket is a data store used to manage changes in the physical goods inventory (GPIs), work orders, short term storage needs, and so on. An action bucket system is designed so that users can locate and record changes in the physical stock. 

These changes can be recorded in the business daybooks, change logs, or in software programs running on the company's computer network. Action buckets are most commonly used by computer applications to list user-defined events that affect the overall state of the software system. Action buckets are also used as a standard basis for computing statistics and events within other systems.

A GPI-based system stores all the information about a particular warehouse transaction in the form of a numerical value. The value represents the date and time of the order that was processed, as well as the quantity, cost, stock, and level of quality of the product ordered. This information is then sent to various order entry modules, including the manufacturing and fulfillment databases, shipping and export processing departments, and the order entry administration to allow manufacturers to keep track of their sales and receive notifications of product returns and warehouse openings.

Supply chain management software is used to optimize the flow of data within the company, as well as to collect statistical reports about the supply chain management process. Supply chain management (SCM) software is designed to analyze the movement of raw materials, components, and labor throughout the supply chain. It integrates all aspects of manufacturing operations in order to provide accurate analysis, management, and reporting of inventory levels, inventories, and delivery status. In addition, this software provides real-time analytical capabilities to determine the status of particular assets, such as fixed assets or capital equipment.

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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