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 the world of supply chain management, there is a phenomenon called "refurbishment". This is the gradual replacement of old or obsolete parts or systems by new ones of the same or similar type. Refurbishment is sometimes necessary for achieving long-term business success. When an organization refires its product line, it should focus on improving efficiency rather than pursuing short-term savings through the reduction of number of units.
Refurbishment is often seen as the last step in supply chain management (SCM) strategies; however it should not be the final solution. It is characterized by extreme emotional swings such as hopelessness, anger, frustration, or dismay. Sometimes even do get a whole team very excited or hopeful about their prospects for improvement in order to enhance current demand planning practices. However, after two years of technological and process refinements, quality in demand management still elusive for most supply chain managers. Refurbishing efforts may therefore need to be augmented by system integration, a more formalized planning approach, and the incorporation of innovative logistics practices.
Another drawback in most of the supply chain management systems is the lack of direct communication between the manufacturer and the trader. This is usually attributed to poor inter-organizational communication, poor information flow, and lack of coordination. The lack of clear communication channels has made it difficult to ensure the smooth running of operations at every stage. To overcome this, several supply chain companies have initiated a form of logistics reverse logistics. By using a combination of logistics and product development approaches, these companies have been able to increase profit margins by improving logistics efficiencies.
Related ArticlesRefine Inventory Strategies
SAP-MM knowledge refinement - inventory management related message property customization
Top 5 Strategies to Improve Inventory Management
What Is Inventory Management Process? Flow Explained
How Small Businesses Can Optimise Working Capital Through Inventory Management
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.