Inventory, Logistics, and Expediting (L2M5), CIPS Level 2 Module 5 - CIPS Training India

Inventory, Logistics, and Expediting (L2M5)

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.

30 hours of module learning time
3 Course credits
Total exam time of 1 hour

Module Five - Curriculum

The fifth module “Inventory, Logistics and Expediting” in the CIPS Level 2 Certificate course comprises three sections focused on the concept of inventory, the logistics challenge, and effective logistics control measures.

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; ERP; Just in Time; Barcoding; 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 - Road, Rail, Air, Sea, Pipeline.
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 oversupply and minimise the risk of stock-outs; The use of forecasting to achieve timely delivery of supplies; 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.

All Modules in CIPS Level 2 Certification

Module 1 – Introducing Procurement and Supply (L2M1)
Module 2 – Procurement and Supply Operations (L2M2)
Module 3 – Stakeholder Relationships (L2M3)
Module 4 – Systems Technology (L2M4)
Module 5 – Inventory, Logistics and Expediting (L2M5)

You can get the full details of CIPS Level 2 – Certificate in Procurement and Supply Operations over here

Why Choose CIPS MatexNet?

GLOBALLY RECOGNISED COURSES – Throughout the world CIPS qualifications are recognised as driving leading-edge thinking and professionalism in procurement. CIPS is the only independently regulated professional body with an honours degree level qualification. MCIPS Chartered Professional is recognised worldwide as the standard for procurement professionals.
EXPOSURE TO GLOBAL BEST PRACTICES – MatexNet’s strategic tie up with CIPS to offer professional courses stems out of the essential need of professionally certified procurement and supply chain professionals. Our goal is to bring state of the art best practices and processes in procurement and supply chain to the ever growing market economy in India.
PRACTITIONERS AS TUTORS – Our tutors are professionally recognised and senior consultants / practitioners and are working across the Public and Private sectors. Each of them bring three decades plus years of industry experience and knowledge to deliver CIPS courses besides sharing up-to-date thinking and best practices.
EASY ACCESS & FLEXIBILITY – All training is delivered in Classroom format and Live webcasting for Distant learners. You can pick the learning format that works best for you.

CIPS MatexNet Training Reviews

Suman Kumar, Procurement Manager – Leading PSU

I joined CIPS MatexNet for distance learning (through zoom classes) for Diploma in procurement & supply from CIPS. As working professionals, we don’t have much time to study by ourselves, these online lectures definitely helped me in gaining conceptual knowledge, and successfully complete the Level 4 CIPS certification.

M.S. Murugan

I have completed Level 4 Diploma with flying colors besides obtaining Merits in L4M1 and L4 M8. The course was organized in a manner that helped me understand the underlying concepts that are required to pass CIPS examinations. All classes were handled by experts in the procurement area and they showed an interest in helping students learn. The course materials provided by CIPS MatexNet increased my knowledge and skills in the subject matter. The platform provided for practicing the subjects by way of attending mock tests was very useful. I would highly recommend CIPS MatexNet to other aspiring students.

Category Manager, Retail

The training is well structured to help students master the subjects, and learn about the practical application at work. The tutors are highly knowledgeable and pass on their on-field experience to the students. Thanks to CIPS MatexNet who helped me get my CIPS qualification.

Vendor Management Executive, Information Technology

I’ve recently completed my CIPS training with CIPS MatexNet. The tutors and the study materials were of high standard and were key to helping me get certified. I’d recommend CIPS MatexNet to anyone looking for a training in purchase and supply.

Procurement Executive, Manufacturing Company

I’m so pleased I did this course with CIPS MatexNet. I find the course enriching and thought-provoking for procurement professionals like me to strengthen their minds on the basics of an everyday procurement activity with tons of practical information.

Purchasing Manager, Construction

Very interactive course offering contextual learning. The course offers details of the procurement process, contract management, compliance, and governance. It is highly recommended to anyone looking to gain in-depth knowledge about procurement.

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Inventory, Logistics and Expediting (L2M5)

CIPS Level 2 Module 5 - Inventory, Logistics and Expediting (L2M5)