CIOP Module-2 Learning Outcome Questions


1. List the objectives of inventory management.
2. Functional conflicts that influence inventory management.
3. How to resolve the conflicts in inventory management.
4. Define inventory.
5. List the types of inventory.
6. Describe each type of inventory with examples.
7. Stakeholders involved with different types of inventory.
8. Naming convention for the types of inventory.
9. List the functions of inventory.
10. Describe each functions of inventory with examples.
11. Factors that determine the functions of inventory.
12. Types of Demands.
13. The tool that connects Independent with Dependent demand.
14. Describe both the type of demands with examples.
15. What is inventory tracking?
16. What is inventory traceability?
17. Inventory tracking methodologies.
18. Technologies that support inventory traceability.
19. List the stakeholders of inventory.
20. Individual stakeholder requirements on inventory.
21. Define inventory accuracy.
22. Impact of inventory accuracy in manufacturing planning and control.
23. Factors responsible for poor inventory accuracy.
24. Methods to ensure desired inventory accuracy.
25. How to measure inventory accuracy?
26. Technologies that support inventory accuracy.
27. Define inventory error.
28. List the causes of inventory errors.
29. Define inventory costs.
30. List various types of inventory costs.
31. Describe vendor development cost.
32. Describe sourcing cost.
33. Describe acquisition cost.
34. Describe carrying cost.
35. Describe ordering cost.
36. Describe stockout cost.
37. Describe capacity related cost.
38. First-in-First-Out (FIFO)
39. Last-in-First-Out (LIFO)
40. Specific Identification Method
41. Average Method
42. Periodic Inventory Auditing.
43. Cycle Counting Policy.
44. Pros and cons of both types of auditing.
45. 1.Key stakeholders involved in periodic inventory auditing.
46. Scenarios that demand periodic inventory auditing.
47. Step-by-step procedure to conduct periodic inventory auditing.
48. 1.Key stakeholders involved in cycle counting.
49. Scenarios that demand cycle counting.
50. Step-by-step procedure to establish cycle counting inventory auditing.

Please follow the below guidelines to have a better understanding of the Learning Outcome Questions.
1. Please refer your class notes.
2. Please refer the class presentations.
3. Please go through the appropriate Supply Chain or Procurement reference books given in this link. The list of books may be exhaustive, so take advantage of college or university or Government libraries.

CIOP Webinar Series

Learn the Global Best Practices in Supply Chain Management, Procurement, and Inventory Management.

60 Minutes of Learning + PDU Letter

Register Now

Do Do you want more information on Certified Inventory Optimization Professional?

Fill in the form to download the quote.