Inventory Management Certification Programs In 2022
By Moradeke Owa
| Last updated:
Sep 12
|
11 min read
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Inventory management is a critical component of running a profitable business. Yes, paying attention to inventory and effectively managing it can skyrocket business performance.
So, employers place a high value on having a qualified inventory manager who can effectively manage their supply chain to achieve high customer satisfaction and profitability.
Inventory management certifications authenticate your skills to manage difficult supply chains, act as a master negotiator, and minimize financial loss by meticulously handling products. As a result, when employers are looking for inventory management professionals, these credentials elevate you to the top of the list.
Here are the inventory management certification organizations that are looking for inventory management professionals in 2022.
An inventory management certification proves your knowledge of a specific aspect of inventory management and planning. Inventory management and planning organizations award certifications to inventory managers who have demonstrated knowledge and expertise in a particular field.
Although inventory management courses are pretty common, certifications are more valuable. This is because certifications demonstrate that you have been recognized by a reputable organization as knowledgeable and proficient in a specific area of inventory management.
There are various certifications in inventory management; each certification program entails a curriculum and assessment that shows an individual as competent in a specific aspect.
Most inventory management certification courses prepare you to be effective in specific areas of inventory management such as demand forecasting, procurement, product storage, logistics, and others.
As long as you’re thinking of establishing a career path in inventory management, you should have an inventory management certification.
When recruiters view your profile, they will see your certification as proof of your passion and dedication to your inventory management career; inventory management certifications are time-consuming and expensive to acquire.
Inventory management and control certifications don’t just make you look competent, it also increases your industrial value as an inventory manager. When applying to become an inventory manager, these certification makes you look impressive and stand out amongst other candidates because you value it holds.
It also makes it way easier for organizations to trust you with their inventory than when you don’t have it.
The most popular certification for internal supply chain business operations is certified in production and inventory management (CPIM). It’s issued by the Association for Supply Chain Management (ASCM), also known as APICS (American Production and Inventory Control Society).
The certification is designed to demonstrate the ability of production and inventory control professionals to deal with demand variations, supply chain risks, resource planning, and extreme disruption to original inventory management plans and business operations.
The CPIM certification proves your ability to manage supply chains and plan business operations. Even when there is deviance in operations, it provides you with the knowledge to effectively optimize the supply chain and business operations to maximize productivity and profits.
How to acquire the CPIM certification:
As a supply chain professional, the CSCP certification is important to upgrade your knowledge of supply chain management. This certification is recognized worldwide and issued by APICS.
Going through the CSCP certification training provides you with all you need to become a supply chain specialist. The course curriculum covers the strategies and resources needed to become a leading supply chain management, demand forecasting, and management professional.
It also provides you with contemporary methods and tools for managing relationships with your suppliers and customers. This includes product sourcing, logistics, operation optimization, and how to set up an effective and sustainable supply chain management system.
In addition to the knowledge and expertise gained from the CSCP certification, you will increase your industrial value. The certified supply chain professional certification is globally recognized and distinguishes you as a dedicated and versed supply chain professional, which means higher pay.
To be eligible for the CSCP certification, you must have a bachelor’s degree or an international equivalent if you studied outside the United States and have three years of supply chain management experience. You could also use an active certification that proves your supply chain management experience, such as CPIM, CPIM-F, CIRM, SCOR-P, and others.
The CSCP certification exam consists of 150 questions and covers all of the course curriculum modules. You need to score at least 300 to pass the exam.
The CPSD is one of the most specialized certifications in inventory management, it focuses on equipping supply management professionals with the skills needed to lead and thrive in a diverse supplier network.
Almost every organization can brag about having a diverse customer base, but not every business can boast about having diverse inventory suppliers. Having long-term effective relationships with diverse suppliers reveals an organization’s social responsibility and proactive approach to inclusivity.
In addition to supplier diversity, the CPSD certification program also covers other important aspects of supply management. The certification program teaches participants how to run a profitable and socially responsible supply chain.
As a CPSD holder, you are bridging the gap between diverse suppliers and organizations by identifying and resolving pain points to build a frictionless supply chain between the two.
For example, you can leverage the simplicity and innovative approach that diverse suppliers take to the supply chain to maximize profits for both suppliers and the organizations that procure inventory from them.
To be eligible for the CPSD certification, you must have a bachelor’s degree and three years of full-time experience in a related field, or five years of experience in a related field without a bachelor’s degree.
This experience must be in a non-support, a non-clerical role that demonstrates your ability to make decisions and handle tasks independently. You also need to pass the two CPSD exams.
Renewing CPSD does not require retaking the assessment; instead, you only need 60 hours of related training every three years. Even if you are unable to complete the recertification requirement within three years, you have a one-year grace period to renew your certification.
The catch is that during the grace period, you will not be recognized as an active CPSD holder.
The Institute of Management Accountants (IMA) awards the Certified Management Accountant certification. This certification is popular among finance and business operations professionals, whose jobs directly impact an organization’s bottom line.
The CMA validates your knowledge and expertise in planning, budgeting, forecasting demand, evaluating, and managing the performance of business operations. It also covers cost and risk management, decision analysis, professional ethics, and more.
A CMA certifies your skills and proven experience as a strategic and innovative business operation professional. The CMA certification training is incredibly beneficial for inventory managers; It teaches you how to manage inventory operations to maximize profits and how to convert data from business performance and financial reports into well-informed strategies for increasing profitability.
So, if you’re thinking about expanding your knowledge and skills in inventory control to enhance business performance and bottom line, a CMA is a great place to start.
Here’s what it takes to be eligible for a CMA:
You play an important role in the sales channel as an inventory manager; this certification provides you with guidelines and strategies to improve business operations and relationship productivity for sales.
The Certified Sales Professional program teaches attendees not only how to persuade clients to purchase, but also how to motivate clients to buy from you.
So, holding this certification is evidence of your competency and skills as a sales professional. It also proves your understanding of how to develop long-term relationships with all parties involved in the supply chain, such as vendors, production staff, logistics, and others.
The CSP program curriculum covers topics like improving time management and setting specific goals to meet sales targets. This certification is common among sales professionals, account managers, distributors, and business operation professionals such as inventory managers.
Although most countries have a similar curriculum for the CSP certification, the requirements vary by country.
Here’s the requirement to be eligible for CSP certification by the Canadian Professional Sales Association (CPSA):
However, if you have more than six years of sales experience, you are exempt from the education requirement. You can take the CPSA assessment to find out where you need to improve.
Logistics is a critical component of inventory control and management that directly affects customer satisfaction. APICS began issuing the CLTD certification in 2016, to bridge the gap between the Deliver and Return processes.
The Certified in Logistics, Transportation, and Distribution (CLTD) certification sets you apart from other inventory management and logistics professionals by training you on the best logistics and transportation practices and strategies. It provides you with the knowledge and strategies you need to run an efficient supply chain for any type of organization (small to large).
CLTD certifications are divided into nine modules that cover a wide range of logistics, transportation, and delivery concepts. It starts with an overview of logistics and its most recent strategies, then moves on to how to design and improve logistics networks. It also includes other logistics and transportation principles, such as designing a sustainable logistics system, optimizing the delivery and return process, and more.
Eligibility criteria:
The Institute of Certified Professional Managers (ICPM) awards the globally recognized Certified Manager (CM) designation. The Certified Manager program is designed to help you develop and improve your management skills while also providing you with guidelines for innovative approaches to optimizing management tasks.
This certification is popular among managers in different fields from business operations to human resource management. Completing the CM program solidifies an individual’s ability as a manager and also opens up opportunities for top management positions and higher pay due to the prestigious value this certification conveys.
To obtain the Certified Manager designation, you will be assessed on the three modules of the program, one after the other. These modules cover management fundamentals, planning and organizing for optimum business performance, and finally leading and controlling to strengthen your leadership skills.
Unlike most globally recognized designations, you can apply for the CM certification at any time of year. It also employs a point system to determine your eligibility for certification.
To meet the education requirements for the CM certification, you must have between 3-6 points. Here’s how the point system works:
There’s also a point system for the experience; 4 points minimum and 7 points maximum to be eligible for the CM certification.
Out of the two certifications The Institute for Supply Management (ISM) offers, the CPSM focuses on procurement and is quite popular among inventory management professionals who specialize in purchase and procurement.
Having the CPSM designation demonstrates your competence as a supply management professional; you can handle complex supply chains and navigate them for maximum productivity.
The CPSM training covers various aspects of supply management such as building relationships with suppliers, improving your negotiating skills, inventory classification, and financial analysis. It also covers legal aspects of supply management, risks, and compliance, as well as training in supply chain leadership.
Here’s what you need to be eligible for the CPSM certification:
Also, the exam is valid for four years. You can continue pursuing your degree or working to meet the requirement after taking the exams.
The CPM certification is designed specifically for purchasing managers. The Institute for Supply Management (ISM) issues it as recertification; it is no longer available as a certification.
To reflect the other responsibilities of supply management professionals, the ISM has merged the curriculum of this certification with procurement. Unless you already have a CPM, you’ll need to choose a CPSM, which combines the duties of purchase and supply management professionals.
These Inventory management certifications have lots of upsides, they hone your skills in the area of inventory management you choose. They also help you stand out when applying for inventory management roles.
When choosing a certification program, you should also factor in your interests and strengths; they will help you choose the program that best fits your skills and experience.
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