Tikz IPO example

ipo.tex

\documentclass{article}

\usepackage{tikz}
\usetikzlibrary{positioning}

\begin{document}

\begin{figure}
\centering
\begin{tikzpicture}[node distance=5cm, inner sep=10pt]
\node[draw] (in) {\begin{minipage}{3cm}\begin{itemize}\item foo \item bar\end{itemize}\end{minipage}};
\node[above=0pt of in] {in};

\node[draw,right of=in] (process) {baz};
\end{tikzpicture}
\end{figure}

\end{document}