Pareto Diagrams

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.

In Manufacturing or Business Process Management the Pareto Diagram is a tool for visualizing the relationship among quantities of variables, namely production, distribution and final consumption. The diagram is usually drawn as two horizontal x-y diagrams showing quantities of elements over time. This helps identify the boundaries between categories of variable and how they relate to each other. Supply chain management has become an increasingly important area of study in recent years because it has helped to determine the quantity and quality of resources in an organization.

Supply chain diagrams can be produced for a wide range of applications in many industries such as transportation, construction, healthcare, chemicals, food service etc. Supply chain management uses pareto diagrams to show the relationships between variables in production, storage, and distribution. Supply chain diagrams can also be used to track the variations in prices across the various components of the supply chain.

The use of Pareto Diagrams in management decisions can assist greatly in decision making and provide essential insights into the factors underlying the performance of a company. A company can use the Pareto diagrams to analyze the relationships between the variables in a data set, evaluate the performance of a company or identify opportunities to improve productivity. Each employee can benefit greatly from the use of Pareto diagrams in the planning of the data set and the development of future plans and initiatives.

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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