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.

The first concept that comes to mind is that of supply chain management. Supply chain is the system used by manufacturers to turn raw materials into finished goods and it is a crucial part of manufacturing. In Supply Chain Management, a company has to identify the sources of raw materials they need to produce the goods in question and how they intend to deliver those supplies to their intended customers. In most cases, a company's strategy for success will entail developing a logistical model to optimize both the throughput and the quality of the supply chain; thus planning helps determine what resources the company can commit to improving the process.

Another essential concept is that of purchasing. In order to make good use of the purchasing process, companies should develop and implement a strategy that will allow them to develop contracts with the suppliers of raw materials as well as with the suppliers of the products they intend to produce. A good example of a purchase order is a contract for the supply of raw materials that includes both an agreed upon quantity as well as a defined delivery date. As a logistics manager, you will help a company develop an effective purchasing strategy by ensuring the identification of both the most efficient possible sources of the raw materials they need, the most cost-effective method of delivering those materials to their sites, and the most efficient manner of storing these raw materials at their sites. By establishing a good relationship with your suppliers, your company can reduce the costs of your production while increasing the efficiency of your production processes.

Proper logistics planning can also help your company improve the way that it sells its goods. One approach that some organizations take is to develop a marketing plan that identifies the methods by which potential customers locate the products that they most want. By applying market research techniques, you can identify the most profitable locations for your products, which in turn will allow you to provide consumers with the products that they are looking for. By implementing measures that facilitate better distribution of the goods you manufacture, you will increase your company's chances of developing sales for the products you distribute, thereby expanding your customer base and increasing your profits. Proper logistics planning can play a large role in the success of any business, and even in the failure of a business.

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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