CIOP online sessions are conducted in a well-organized manner. The online sessions are conducted on Saturdays, between 7:00 PM and 10:00 PM (Indian Standard Time). There will be two breaks during the session. First break at 8:00 PM for 15 minutes and the second break at 9:00 PM for 10 minutes. The participants will join the program through the link sent to them well in advance and they get reminder notifications. First reminder a day before the session and the second reminder one-hour before the session. The participants will be able to see the presentation and the writings of the faculty at the same time. The faculty delivers the program through a smart board and the participants will be able to access both the presentation used by the faculty and his notes at the ends of the session through Fhyzics’ Learning Management System (LMS).
An estimate of sales, usually time varying, for a specified group of goods or product families manufactured by a business or facility. Stated either in terms of dollars, units, or both, an aggregate forecast is often times used for production and sales planning purposes (or for operations and inventory management) by businesses. The purpose of the term is to provide a concise picture of a company's overall sales patterns over a defined period of time. While this overview may serve a variety of purposes, it is typically used by those in the manufacturing industry.
In fact, many companies use aggregates on a daily basis, using the information they gain to determine inventory levels, production priorities, marketing programs, and more. In essence, using an aggregate Forecast can be used to form a snapshot of the entire supply chain at any particular point in time.
Many businesses use their Aggregate Forecast to determine the timing of key product or process releases. For example, if a manufacturer is releasing a new process that will help reduce the cost of production or increase profits, it is common for that manufacturer to create an Aggregate Forecast to alert management of potential product release dates. Similarly, when a business is estimating the number of units that they will need to produce a specific serviceable level of product or service, an aggregated forecast of average inventory levels can be issued as well. Regardless of the final results of the aggregate forecast, one thing is clear: an accurate assessment of the overall results of a particular period of time can be created by considering both the higher level and lower level of inputs that go into producing an Aggregate Forecast.
Aggregates are typically used to provide the framework for predicting overall economic activity. For example, if a business reports that they expect to experience sales growth of five percent over a four-month period, and they then make their Aggregate Forecast, they can indicate the likely impact of this forecast on overall economic activity. The five percent growth in sales is reflected in the Aggregate Forecast, and five percent growth in overall economic activity is then shown in the variables reflecting the individual industries within the broader Aggregate Forecast. Because the five percent forecasted growth represents the anticipated result of individual sales within an industry, it is shown in economic data that indicate overall economic activity.
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.
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.