Personal Improvement Plan (PIP)

TermiKnowledge - Supply Chain, Procurement and Inventory Terminologies
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A Personal Improvement Plan is the main tool for managing and controlling waste in any organization. It is the main tool for improving customer satisfaction and retention levels by planning strategies to promote positive behaviour in staff and maintaining a strong commitment to quality at all times. It is vital that the plan covers the whole business, as not only will one small area be affected, but the flow of the business will be affected. It is important to develop a personal plan which addresses your individual needs and targets, keeping in mind the resources available and linking them with your strategy to achieve targets. The plan will be a key driver in helping you to successfully implement management and succession planning.

Procurement Management involves controlling the supply chain management of raw materials and products to ensure that you have enough of them when you need them. It also involves controlling the supply chain management of finished goods, ensuring that you have enough of them to fulfil your customers' orders. A Production Inventory (PIM) records the inventory of goods produced, whether they have been delivered or received, to show how much is still available. This helps in assessing whether your manufacturing costs are adequate to support your sales and marketing expenses. By analysing the PIM, it is possible to improve both your production and distribution efficiency, allowing you to save time and money.

Production Planning is the process of mapping out the whole operation of the production, warehousing and distribution of the company's goods. It is the backbone of the logistics system, enabling you to predict and measure the amount of goods that you will need to produce and the speed at which they need to be released. By analysing the production planning data, you can improve the operation of all aspects of your manufacturing, warehousing and distribution activities, reducing wastage, preventing breakdowns and maintaining a high level of quality throughout the process.

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