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TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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CIOP is an end-to-end supply chain training and certification program designed and developed by supply chain practitioners and consultants. The syllabus was developed in consultation with the industry, which led to Inventory Management Body of Knowledge (IMBoK v3.0). Most of the class discussions you will hear cannot be found in any textbook rather these are all the original contribution from the developers of CIOP. For example, think about the types of inventories such as raw material, work-in-process and finished goods. Out of these three, WIP is the most difficult to sell in the market and that is one of the reasons, WIP should be controlled well. The company has a built-in capability and capacity to sell finished goods, which is their business. The second easy to sell are the raw materials as you know the suppliers, who may either buy-back or at least guide you. But in case of WIP, this is custom manufactured to suit your manufacturing processes and may not well fit any other organisation, hence you may have to sell it as a scrap.

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The distribution process in an enterprise may be divided into two different stages: stage A and stage B. At stage A, production starts and the sales staff meets their customers. At stage B, after the product has been sold, the inventory needs to be replenished and the production phase commences. 

At both of these stages, there is the need for human resources professionals who can act as agents at each stage. In this article, we'll discuss why it is important to hire and engage the services of supply chain management software (supply chain optimization software) at both stages:

Strategic Level The first stage of supply chain (stage A) involves making strategic decisions, taking into account the entire organization as a whole, as well as the effects of those strategic decisions at the individual or strategic level. This chapter will focus on several strategic issues, such as the relationships between inventories, customer relationships, and manufacturing. Although the notion of agent-assisted computer applications have not been presented yet, the direction of the Integrated Supply Chain Management Project was a determining factor in the organization's structure of relationships, which has been implemented through numerous strategic level decisions. As such, this chapter provides a brief overview of the current trends related to strategic decisions.

Tactical Level The second stage of supply chain

(stage B) involves tactical decisions regarding inventories, replenishment, and customer relations. In addition to strategic decisions, tactical logistics planning requires adjustments to operational processes, budgeting, and delivery timeframes. Tactical inventory management refers to the identification and analysis of demand, analyzing supply chain performance, and developing a plan to meet supply chain requirements. This chapter briefly discusses the topics of inventory management strategies, supply chain optimization, pricing and cost control, as well as other topics pertinent to supply chain management.

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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