Materials and inventory form the core of logistics and supply chain industry and managing it is not everyone’s cup of tea. But CIMO certification, offered by #SCMGuru KnoWerX Education, promises to deliver skilled, certified and competent professional in the industry segment. Content of CIMO and all other courses from KnoWerX are based on latest industry practices.
Certified Inventory Management Officer
Benefits
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Get equipped with latest ideas and best practical methods of inventory control
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Upskill oneself and enhance the overall efficiency and reduce inventory waste.
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Accelerate optimization of inventory control processes
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Understand company’s inventory control practices and procedures
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Increases value at work
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Accelerate your career that is tied to better remuneration
Target Audience
Participants must have basic knowledge of business management concept and process flows, especially in materials management domain.
Program
The course is covered in 7 sessions. Let us have a look at what these sessions target at.
Session 1: Fundamentals of Inventory Management
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Definitions
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Objectives
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Activities
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Classification of inventory
Session 2: Lot Sizing
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Fixed order quantity
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Economic order quantity
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Lot-for-lot
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Period order quantity
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Other order quantity
Session 3: Managing Uncertainty
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Safety stock
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Safety lead time
Session 4: Functions of Inventory & Inventory Reduction Strategies
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Anticipation
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De-coupling
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Buffer
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Transportation
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Hedging
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Inventory responsibility
Session 5: Managing Inventory Using Classification
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ABC
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FSN
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VED
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XYZ
Session 6: Maintaining Inventory Accuracy
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Organising warehouse
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Inventory naming and labelling
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Inventory management practices & procedures
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Physical vs cycle counting
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Use of technology
Session 7: Inventory planning & Replenishment Systems
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Continuous review system
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Periodic review system
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Hybrid system
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Time phased order planning
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Demand driven systems
Study Material
- Handouts (PDF of slides),
- E-Learning access for 1 year.
Exam
- The exam will be concept 50 multiple choice questions are to be answered in one hour.
- There will be no penalty for giving wrong answers. Participant must score 75% or above to pass the exam.
- Exam has to be taken within 3 months of the training.
Awards
Certificate will be awarded to participants on clearing the examination.