Module Purpose: On completion of this module, learners will be able to identify the key role that inventory has to play and define the principles and processes associated with effective logistics control, explaining how effective expediting can be achieved in procurement and supply.
Module Aim: Inventories can account for a significant cost for many organisations. This module has been designed to enable learners to appreciate the concept of inventory and to explain contemporary methods for reviewing and planning effective inventory control. The module also focuses on the logistics challenge and on effective logistics control measures. Finally, learners will be able to explain how effective expediting can be achieved in procurement and supply through effective planning and processing.
Certified Inventory Optimization Professional
CIOP is a global supply chain management and inventory management certification program exclusively developed for corporations to optimize the inventory in their supply chain. CIOP teaches the global best practices in 30 modules over 90 hours of live, faculty-led, online training. It is founded on Inventory Management Body of Knowledge (IMBoK) version 3.0. CIOP is a comprehensive program includes training, reference material, Learning Management and Assessment System (LMAS), examination and certificate.
The LMAS contains classroom presentations, classroom notes, video lessons, audio lessons, quizzes, reference materials, terminologies and articles recommended by faculty.
The CIOP Examination is 3 hours, online, proctored examination with 180 multiple-choice questions. The participant needs to secure 70% of the maximum score (360 marks) to pass in the examination.
You can learn more about the CIOP certification in the below links:
CIOP Website: https://pages.fhyzics.net/ciop
Faculty Profile: https://pages.fhyzics.net/principal-consultant
Click here to request quote for the CIOP certification program.
Fhyzics Business Consultants is an Approved Study Centre of Chartered Institute of Procurement and Supply (CIPS), UK and offering all the modules under Level-2, Level-3, Level-4, Level-5, and Level-6. During this current COVID-19 pandemic, the classes are offered in distance and self-study modes. For more questions related to our CIPS programs, please speak to our Manager-Certifications at +91-900-304-9000 or email at firstname.lastname@example.org.
Online, Instructor-Led Training Program on Inventory, Logistics and Expediting [L2M5] Module of Professional Diploma in Procurement and Supply, CIPS, UK
Mode of Delivery: Online
Mode of Teaching: Using the Presentation Deck from CIPS, UK
Duration: 3 Hours
Faculty: Venkadesh Narayanan, CIPS Recognized Instructor
Reference Material: L2M5 Study Guide
Level-2: Certifıcate in Procurement and Supply Operations
STAKEHOLDER RELATIONSHIPS - LEARNING OUTCOMES
1.0 Know the key elements of effective inventory control
1.1 Identify the classifications of different types of inventory
• Opening stock, work in progress, safety stock and finished goods
• Obsolescent and redundant stock
• Direct and indirect supplies
• ABC classifications of stock that may apply
• Dependent demand and independent demand items of stock
1.2 Identify the direct and indirect costs of holding inventory
• Direct and indirect costs that are associated with holding inventories
• Options to reduce costs whilst mitigating any negative impact on service levels
1.3 Identify techniques associated with inventory control
• Re-order quantities
• Re-order levels
• MRP and MRPII
• Just in Time
• Bar coding
• Subjective and objective forecasting
1.4 Identify the key aspects associated with the handling, packaging and storage of supplies
• The use of materials handling equipment and
palletisation and unit loads, packing and packaging
and the use of automation in warehousing
2.0 Understand the principles and processes associated with effective logistics control
2.1 Identify the key principles of stores and warehousing facilities
• The effective and efficient flows of inventory
• Reduction of life-cycle costs
• Space optimisation
2.2 Identify the strengths and weaknesses associated with modes of freight transportation
2.3 Identify types of Incoterms in international logistics.
• E, F, C and D terms
• Incoterms rules and incorporation into the sales contract
2.4 Identify legislative regulations that affect international sourcing
• How to ensure compliance with legislation and regulations for supplies from international sources
2.5 Describe the documentation that is used in transportation of supplies
• The single administrative document
• Packing list, waybill, consignment notes, bill of lading
• Certificate of origin
• Letters of credit or other financial documentation
3.0 Know how effective expediting can be achieved in procurement and supply
3.1 Explain the assessment of costs of inventory and the cost of stock outs
• Monitor levels of inventories and take actions to mitigate over supply and minimise the risk of stock outs
• The use of forecasting to achieve timely delivery of
• Track deliveries and documentation
• The use of forecasting, difficulties and techniques
3.2 Explain the planning process associated with expediting delivery
• Use of problem solving techniques
• Planning milestones and activities
3.3 Explain the significance of payment to suppliers and cash flow
• Track any deviations from planned payments and take remedial actions to mitigate disruptions that may be created through difficulties with cash flow
Keywords: eprocurements, e procurement, procurement, purchase, purchase order, purchase order format, e procurement tenders, purchase meaning in hindi, e procurement tata steel, purchase meaning, ntpc eprocurement, defence eprocurement, e procurement tatasteel, central e procurement, po system, govtprocurement, iocl e procurement, cg e procurement, bpcl eprocurement, purchase requisition, procure to pay, ntpc e procurement, online tendering, procurement process, hire purchase meaning, purchasing management, procurement is, strategic sourcing, procurement management, eprocurement ntpc, eprocurement central, procure, purchase order sample, procure to pay process, mes e procurement, po format, e procurement system, procurement logistics, cpp eprocurement, sourcing ariba, impulse buying, procure to pay cycle, reverse tendering, purchase account, purchase procedure, hpcl eprocurement, e tenders central, purchase order template, purchase invoice, purchase order meaning, purchase meaning in tamil, ongc e procurement, purchase order format in word, purchasing executive, po sap, procurement prices, purchasing processes, public procurement, procurement cycle, purchasing cycle, sale purchase, material purchase, govt e procurement, purchase order process, sourcing and procurement, purchase meaning in bengali, purchase order table in sap, to create purchase order press, purchase requisition in sap, sbi procurement, government e procurement , purchase of stock in trade, bhel eprocurement, tata e procurement, procurement in business, hal e procurement, sale and purchase, sap purchase requisition table, government eprocurement system, purchase method, bel e procurement, eprocurement iocl, procurement softwares, procurement strategy, source to pay, types of procurement, blanket purchase order, outright purchase, purchase requisition meaning, sap purchase order, material procurement, impulsive buyer meaning, local purchase, purchase office, cpp e procurement, railway e procurement, procurement specialists, procurement portals, government procurement, purchase price, indirect procurement, blanket po, impulse purchase, it procurement, procurement planning, purchase order format doc, mes procurement, government e tenders, purchase order template excel, higher purchase, ariba procurement, purchase order template doc, purchase order example, purchase order procedure, procurement executive, sap procurement, purchase day book, procurement cost, purchase cost, procurement consulting, hire purchase finance, central public procurement, bhel e procurement, p2p cycle in sap mm, e procurement tata, procurement service, procurement and supply chain management, procurement procedure, project procurement management, bulk purchase, stock purchase, forward buying, centralized purchasing, oracle procurement, purchasing system, procurement and purchasing, hire purchase example, indian oil eprocurement, bhel tenders e procurement, e procurement nic, purchase request, point of sale display, procurement system, purchase price variance, po order, purchase order software, direct procurement, purchase to pay process, procurement contract, strategic sourcing process, strategic purchasing, supply chain procurement, procurement life cycle, purchase from, e tendering system, purchase on account, outright purchase meaning, credit purchase meaning, procure to pay process in sap, p2p process in accenture, purchase management ppt, procurement in supply chain management, tata steel procurement, procurement in tamil, raw material procurement, central government e procurement, midhani e procurement, hsl e procurement, defense eprocurement, purchase to pay, purchase contract, purchase discount, world bank procurement, coupa procurement, impulse shopping, asset purchase, direct purchase, types of sourcing, indirect purchasing, food procurement, procurement operations, source to pay process, create purchase order, centralised purchasing, direct and indirect procurement, procurement of funds, cpp procurement, ecil eprocurement, sap procurement process, procurement cycle in sap mm, procurement in hrm, oracle p2p cycle, vms procurement, eprocurement of mes, tata steel e procurement b2b, purchase audit, global procurement, purchase meaning in urdu, purchasing and supply chain management, project procurement, digital procurement, procurement company, procurement management system, procurement process cycle, purchase order management, e procurement process, p2p procurement, procurement sourcing, procure to pay cycle in sap with tcodes, vendor management in procurement, abc procurement bhel, spend analysis procurement, p2p accounts payable, tata procurement, eprocurement bel, dps eprocurement, purchase order number, to purchase, purchase order system, po template, po purchase order.
procurement certification, procurement training, cips certification, purchase certification,cips courses, procurement courses, cips training, purchase training, certified procurement professional, certified purchasing professional, procurement courses online, cips certificate, cips level 2,procurement training for beginners, procurement training 2019, procurement management courses, purchasing and supply management courses, public procurement training courses, procurement and contract management online courses, procurement learning, procurement training courses, procurement and logistics courses, purchasing and supply courses, procurement and supply chain management courses, procurement certification online, certified procurement manager, chartered institute of purchasing and supply courses, cpp certification purchasing cips certification cost, procurement courses online free, best procurement certification, public procurement courses, certified international procurement professional, public procurement certification, procurement certification training, procurement management training,cips courses online, purchasing manager certification, purchasing management courses,purchase course, procurement professional courses, cpm certified purchasing manager, certificate in procurement and supply operations, procurement negotiation training, top procurement certifications, procurement classes, cppm certification purchasing, certified public procurement officer, cips training courses