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TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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Certified Inventory Optimization Professional (CIOP) is an end-to-end supply chain certification program. The certification consists of 30 modules focusing both on traditional and futuristic topics. The traditional topics are introduction to supply chain management, all about inventory, strategic business planning, forecasting, demand management, capacity management, sales and operations planning (S&OP), master scheduling (MPS), materials requirements planning (MRP) and production activity control (PAC). It also includes topics on procurement, warehousing, transportation, distribution, and packaging. The topic on the future trends such as Blockchain, Internet of Things (IoT), Robotic Process Automation (RPA), Machine Learning (M/L) and Artificial Intelligence (AI). There is a significant focus on supporting technologies such as forecasting and process mapping tools such as Microsoft Visio. In addition to the above indicated topics the participants need to master over 3000 terminologies in supply chain management.


Inventory Defined Basically, Inventory Defined as a whole is a mathematical term that indicates the total cost of a good in relation to the total number of units of that good that are produced or stored during a particular time period. In business, inventory defined means total inventory or sales less minimum purchase. In other words, inventory defined means the sum of sales less the sum of inventory less the cost of good production.

Increase in Inventory Basically, increasing inventory is done by adding value-added to the product over and above the selling price. In order to increase the added value of inventory, it is required to increase the supply of the goods to be sold to the consuming public. One may increase the size of the available market for sale or just increase the number of products that are available. These two methods do not help in increasing the sales or the gross margin per sale but only provide a marketing strategy to increase the sales volume.

Create Value Adding value to the company products by lowering the prices of the competing products and creating a higher price range. Creating a higher price range does not mean reducing the quality of the product, but the company simply can create a different marketing approach to sell at a higher price. These tactics can create significant competitive advantage in the marketplace and lead the company products to become more recognized among buyers. Additionally, if these newly created market segments are able to penetrate the existing customer base, it will lead to more sales, better gross margin per product, and a higher gross margin per customer. In short, to create value for the company, it is important to reduce the costs of producing similar products and/or to improve upon existing product quality by introducing new products.

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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