Analytics - Finance, Tech & Analytics Career Resources

What role does hypothesis testing play in statistics

Posted on February 15, 2023April 1, 2024 by Imarticus Learning

Hypothesis testing is a critical component of the scientific method used to verify or reject a claim. In statistics, hypothesis testing concludes data and determines whether the results are significant. The hypothesis testing procedure involves making assumptions, collecting data, and comparing the results to your initial hypothesis. This post will explore the role of hypothesis testing in statistics and how you can use it to help make informed decisions.

Introduction to Hypothesis Testing in Statistics

In hypothesis testing, we are interested in using data to conclude population parameters. The goal is to choose the correct statistical model and then use it to make inferences about the population. Statistical inference uses data from a sample to make estimates or predictions about a population.

There are two types of statistical inference: point estimation and hypothesis testing. Point estimation estimates a single value, such as the mean or median, while hypothesis testing tests for a difference between two values, such as the means of two groups.

In hypothesis testing, we start with null and alternative hypotheses. The null hypothesis claims no difference between the two values, while the alternative hypothesis claims that there is a difference. We then use statistical tests to decide which hypothesis is more likely to be true given the data.

Null and Alternative Hypotheses

In hypothesis testing, the null hypothesis (H0) represents the status quo or the default assumption that there is no relationship between variables. The null hypothesis states that two groups or data sets are equal or do not differ.

The alternative hypothesis (Ha or H1) represents the claim or theory being tested and is the opposite of the null hypothesis. It states that there is a difference or a relationship between variables.

For example, an alternative hypothesis might state that the mean of a particular population is not equal to a specific value or that there is a difference in the proportion of individuals with a particular trait between two groups.

Steps of Hypothesis Testing

The steps of hypothesis testing include the following:

Formulate the null and alternative hypotheses: This step involves stating the claim or theory tested in the form of a null hypothesis (H0) and an alternative hypothesis (Ha or H1).
Select a sample and collect data: A sample gets selected from the population, and data is collected.
Choose a level of significance: The level of significance, or alpha level, is the likelihood that the null hypothesis will be accepted even if it is true. Common values for the level of significance include 0.05 and 0.01.
Calculate the test statistic: The test statistic is a value calculated from the sample data used to decide on the null hypothesis. Different types of tests use additional test statistics.
Make a decision: The test statistic gets compared to a critical value determined by the significance level. The null hypothesis gets rejected if the test statistic exceeds the critical value. The null hypothesis is not rejected if the test statistic is less than the necessary value or equal to it.
Interpret the results and conclude: The final step is to interpret the results and draw a conclusion based on the decision made in step 5. If the null hypothesis is rejected, the conclusion is that there is enough evidence to support the alternative hypothesis. If the null hypothesis is not denied, the decision is that there is not enough evidence to support the alternative hypothesis.

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These 5 mindsets can improve your supply chain management career.

Posted on February 15, 2023April 6, 2024 by Imarticus Learning

Various industries, especially e-commerce, depend highly on supply chain management. As the world is transitioning from retail to online shopping, career prospects in supply chain management have risen. More millennials are looking forward to building their supply chain management career.

However, it is important to lay strong foundations to prosper in this field. We can go for certifications for supply chain professionals to gain the required knowledge. However, what’s equally important is to have a proper mindset to progress in our careers. What are these mindsets? What is the best certification for supply chain professionals? Let’s find out!

5 Mindsets for Improving Supply Chain Management Career

Following are the 5 mindsets that will help you prosper in your supply chain management career:

Striving for Continuous Improvement

There is always room for improvement, however small it may be. Therefore, we should always strive to improve our supply chain processes more efficiently and effectively. Adopting an open mindset and welcoming the changes is key to survival and growth. A mindset of continuous improvement also helps us become flexible to changes. In a simple sense, flexibility will help us avoid becoming too comfortable with the status quo. Certain circumstances are bound to crop up that will require us to change our plans. We can’t be rigid against changing circumstances.

Ability to Learn on the Job

While we can go for formal education to improve our knowledge about the industry and learn various strategies, we need to adopt the ability to learn on the job. While working, we will face new challenges that demand different strategies and actions. These challenges are also the catalyst for growth and learning.

Becoming a Team Player

There’s a saying, ‘If you want to go fast, go alone. If you want to go far, go together’. That’s where the team comes into the picture. We need to work in teams at any stage to make things happen. Therefore, it is important to become a team player. Enjoying being a part of the team and helping the team learn and improve is one of the biggest traits and most important to lead a team.

Ability to Leverage Technology

We must learn to harness new and evolving technologies. This is crucial if we want a future-proof supply chain management career. Technology is key to ensuring an efficient supply chain while reducing costs simultaneously. We need to adopt a technology-pro mindset and work on how we can use IT and analytics to best our advantage.

Understanding the Dynamics of Supply Chain

If we want to prosper in our supply chain management career, we must understand the dynamics of the supply chain. We need to learn how the supply chain works, its important components, the emerging technologies in this field, etc. The supply chain involves multiple factors. We need to take care of supply chain performance drivers and metrics. Further, one needs to coordinate with the demand and supply of services and products to design the supply chain distribution network.

How to Begin With a Supply Chain Management Career?

Supply chain management is a lucrative field. Before gaining practical experience, we must gain appropriate knowledge about the supply chain management field. We can kickstart our supply chain management career through formal learning or certification for supply chain professionals. This will help us gain an academic understanding of this field and practical experience. This will be of immense value when we face real-life challenges during our work life.

IIT Roorkee curated a Professional Certification in Supply Chain Management, and Analytics offered by Imarticus Learning that helps us build a future-proof career with a new-age supply chain management and analytics curriculum. The curriculum stretches through the following aspects of supply chain management:

Design Supply Chain distribution network

Drivers and metrics

Planning and Coordinating demand and supply

Sales and operations planning

Supply chain performance,

Determining the optimal level of product availability

Managing uncertainties in the supply chain

Along with the academic insights, we also learn from real-life industry projects that show us how the challenges are solved and strategies used by the big players in the industry. This includes the case studies of 7-Eleven as well as Alko.

IIT Roorkee Supply Chain Management Course also provides the opportunity for campus immersion whereby we can participate in a 3-day campus immersion module on the IIT Roorkee campus. We can interact with some smartest minds and learn from IIT faculty during the program. What could present a better opportunity to kickstart our career in supply chain management than an IIT certification for supply chain professionals? Get enrolled now with Imarticus Learning.

Top 15 Data Visualisations in 2023 and what to learn from them

Posted on February 15, 2023November 28, 2023 by Imarticus Learning

Many different types of data visualizations can be used in real-world scenarios. Some common examples include bar graphs, line graphs, pie charts, and scatter plots. Each type of visualization has its strengths and weaknesses, so it is vital to choose the right one for the specific scenario.

For instance, bar graphs are good for comparing data points side-by-side, but they can be challenging to read if there are a lot of data points. Line graphs are good for showing trends over time, but they can be difficult to compare multiple data sets. Pie charts are good for showing proportions, but comparing data sets with different total values can be difficult. Scatter plots are good for showing relationships between two variables, but they can be challenging to interpret if there are a lot of data points.

Choosing the correct type of visualization is important, but it is also important to ensure it is effective. This means using colors and labels effectively, selecting an appropriate scale, and avoiding cluttered or confusing visuals. With so many things to consider, it can be helpful to look at examples of data visualizations that have been effective in real-world scenarios.

What are the Key Trends in Data Visualization in 2023?

Data visualization is an incredibly important tool for understanding data, and the trends in data visualization are constantly evolving. Here are some of the key trends in data visualization that we anticipate seeing in 2023:

Augmented reality (AR) and virtual reality (VR) data visualizations will become more common as technology advances.
Visualizations will become more interactive, allowing users to manipulate and explore data in new ways.
Data visualizations will become more accessible, emphasizing mobile-friendly and web-based solutions.
We will see more use of natural language processing (NLP) to generate insights from data visualizations.
Personalized data visualizations will become more prevalent, tailored to the specific needs of individual users.

Key skills and techniques to learn from data visualization trends

To create compelling data visualizations, there are some key skills and techniques that you can learn from studying the trends in this field. Here are some of the most important things to keep in mind:

-Choose the right chart type for your data: A wide range of different chart types are available, and each one is better suited to displaying certain kinds of data. When choosing a chart type, select one that effectively showcases the information you want to communicate.

-Make use of color and other design elements: Colour can be used to significant effect in data visualizations, helping to highlight certain aspects of the data or drawing attention to particular patterns. Other design elements, such as line thickness and labels, can also be used to add further context and clarity to your visualizations.

– Keep it simple: Data visualizations should be easy to interpret at a glance. Avoid using too many colors or charts, and stick to a clear and concise layout.

– Use interactivity wisely: If using interactive elements such as tooltips or filters, ensure they genuinely add value and do not simply clutter up the visualization. Interactive features should help the viewer understand the data more quickly, not confuse things.

The future of data visualization and the input a data Analytic Course can provide

The future of data visualization is incredibly exciting. We are only just beginning to scratch the surface of what is possible with data visualization, and there are many new and innovative ways to visualize data that we have yet to explore. A data analytics course can provide the skills and knowledge you need to create unique data visualizations. You will learn how to communicate complex information using visuals effectively and how to design visualizations that are both informative and visually appealing.

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Build analytical models that enhance business outcomes.
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Gain practical knowledge to work as a data science professional.
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Job-specific Curriculum for practical learning
Gain experience in Python, SQL, data analytics, power BI, and Tableau
One-on-one career counselling to ensure employment.

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Courses that boost your skills in machine learning with python

Posted on February 14, 2023April 1, 2024 by Imarticus Learning

The need to develop machine learning skills is becoming more and more important. Machine learning is redefining business as we know it and plays an increasingly important role in many different areas of our lives. There’s no better resource than Python to achieve tremendous success with AI.

This post will provide a basic introduction to machine learning and Python concepts. It will also discuss the best course you can take to boost your skills in machine learning with Python.

Introduction to Machine Learning for Data Science

Machine learning is a tool that has revolutionized the field of data science. It is a branch of AI that allows one to learn from data and make predictions without being explicitly programmed.

Imagine being able to predict the likelihood of a customer purchasing a product or the probability of a patient developing a particular disease. These are a few examples of the endless possibilities that machine learning can offer.

One of the most exciting aspects of machine learning is that it is constantly evolving and improving. With the explosion of big data and technological advancements, machine learning is becoming more accessible and easier to use. It is no longer the domain of only experts. Anyone interested and willing to learn can start using machine learning to analyze their data and make better decisions.

What is Python?

Python is the world’s most popular and versatile programming language. Its simplicity, readability, and flexibility make it an excellent choice for beginners and experts. Whether you’re a data scientist, software engineer, or just someone looking to automate a task, Python has something to offer.

One of Python’s most significant advantages is its library and framework ecosystem. These libraries and frameworks make it easy to perform complex tasks such as data analysis, machine learning, web development, and much more.

In short, Python is a powerful and versatile language that you can use for a wide range of tasks. Its simplicity, readability, and flexibility make it easy to learn and use. In contrast, its vast ecosystem of libraries and frameworks, strong community, and wide range of applications make it an excellent choice for any project. Whether you’re starting or a seasoned professional, Python is a language you should consider.

Benefits of Taking a Course in Machine Learning with Python

There are many benefits to taking a course in machine learning with Python, some of which include the following:

Python has a large and active community, meaning plenty of resources are available for learning and troubleshooting.
A course in machine learning with Python will teach you how to use popular libraries such as NumPy, Pandas, and TensorFlow. These libraries are used in industry and academia and are practical data analysis and modeling tools.
Machine learning is a highly sought-after skill in today’s job market. A machine learning course with Python will give you a competitive edge and open up new career opportunities.
Machine learning has many practical applications in various industries, such as healthcare, finance, and e-commerce. By learning machine learning with Python, you can apply your knowledge to real-world problems and make a positive impact.
Machine learning is an evolving field, and by taking a course in machine learning with Python, you can stay up-to-date with the latest techniques and algorithms.

In summary, a course in machine learning with Python will provide you with a strong foundation in the field and give you the necessary knowledge and skills to succeed in the industry.

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Give yourself a career advantage with our data science online training – where you will gain an understanding of cutting-edge technology that will open up extraordinary opportunities.

Visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad, or get in touch with us via chat support.

Building A New Supply Chain With Macro-Ops Planning? Read on

Posted on February 14, 2023April 6, 2024 by Imarticus Learning

After the advent of digitisation and e-commerce, the supply chain has become the backbone of most businesses. We need to have a proper supply chain mechanism in place if we want to sell through online mediums. Building a new supply chain can be a complex and challenging process. But with the right approach and tools, it is possible to create a highly efficient and effective system that meets the needs of our organization. If we focus on how to become a supply chain analyst, then it can do wonders to create an effective supply chain.

One approach that can be particularly useful in this context is macro-ops planning, which involves taking a holistic view of the supply chain and considering all of the factors that can impact its performance. But how to build an effective supply chain using macro-ops planning? How can we learn about macro-ops planning in the first place? Let’s find out!

Steps to Build a New Supply Chain Using Macro-Ops Planning

Developing a macro-ops plan is essential. We can enrol for a supply chain management course with analytics to learn macro-ops planning. Let’s save it for later. Here are some key steps to follow when building a new supply chain with macro-ops planning:

Defining The Goals and Objectives

Before we start building a new supply chain, it is important to have a clear understanding of what we hope to achieve. This might include goals such as reducing costs, improving delivery times, or increasing customer satisfaction. Defining goals sets a clear direction of where we will be heading.

Assessing The Current Supply Chain

To build a new supply chain that meets our needs, it is important to first understand the strengths and weaknesses of our current system. This might involve analyzing data on key metrics such as delivery times, costs, and customer satisfaction, as well as conducting interviews with key stakeholders to gather insights and ideas for improvement. Once we get an idea of our current systems, we know the lacunas that lie in them and craft a definite plan for improvement.

However, if it is the first time that we are developing the supply chain, then we need to have a thorough understanding of our business model. Knowing about how the supply chain functions in our industry can be of great help in creating an effective supply chain for our organisation.

Identify Key Drivers of Performance

Once we have a good understanding of our current supply chain, the next step is to identify the key drivers of performance that need to be considered in our new system. This might include factors such as demand patterns, supplier capabilities, transportation options, and inventory management practices. Changes in these drivers can be most effective in developing the new supply chain.

Develop a Macro-ops Plan

With an understanding of our goals, current systems and the key drivers of performance, we can then begin to develop a macro-ops plan for our new supply chain. This might involve creating a detailed roadmap that outlines the key steps and milestones that need to be achieved, as well as identifying the resources and capabilities that will be required to implement the plan. The macro-ops plan should be carefully curated as it will be the foundation of all our future actions and the effectiveness of our new system. We can learn to develop the macro-ops plan through the IIT Roorkee supply chain management course (discussed later).

Implement and Optimize the New Supply Chain

With our macro-ops plan in place, we can then begin the process of implementing and optimizing our new supply chain. This might involve making changes to our processes, systems, and infrastructure, as well as working closely with suppliers and other stakeholders to ensure that the new system is running smoothly. What we need to remember is that the changes won’t happen overnight. We need to continuously monitor the execution of the macro-ops plan and how the changes are delivering the results.

Developing an Effective Macro-Ops Plan

Adopting a macro-ops planning approach can help us build a new supply chain that is highly efficient and effective, and that meets the needs of our organization. However, it is important to develop an effective macro-ops plan. Further, we also need to have in-depth knowledge of supply chain systems and how they function. But how can we do so?

We can become supply chain analysts if we focus on learning from a supply chain management course with analytics. IIT Roorkee has designed a comprehensive course on supply chain management – Professional Certification in Supply Chain Management & Analytics that provides us with hands-on learning and deep insights into real-world SCM projects. You can access this course through Imarticus Learning. Mentoring with industry experts provides cutting-edge experience to candidates willing to enter the supply chain and operations industry.

The curriculum of the IIT Roorkee supply chain management course is carefully designed to meet the current age supply chain management needs that use the latest technologies and features. The campus immersion allows us to interact with the top industry leaders and some of the smartest minds and peers in this industry. But it’s incomplete without practical insights, right? The real-life industry projects allow us to learn from the practical projects implemented by some of the biggest MNCs across the world.

Are you ready to develop and implement your new supply chain with macro-ops planning? Get enrolled now with Imarticus Learning.

How to find the correct colour palettes for Data Visualisation

Posted on February 13, 2023November 29, 2023 by Imarticus Learning

Color is an important element in data visualisation as it can help to draw attention to specific areas of your data, highlight patterns and make your visualizations more aesthetically pleasing. There are a few things to consider when choosing colors for your data visualizations:

– The purpose of your visualization: What are you trying to communicate with your data? Choose colors that will support this message.

– The type of data you are visualizing: Some colours work better for specific data types (e.g., using warm colours to represent increasing values or cool colours to represent decreasing values).

– The audience of your visualization: Different audiences may react differently to specific colors. Consider who will be looking at your visualization and choose accordingly.

There are many resources available online to help you choose color palettes for your data visualizations, including colour tools like Adobe Color CC and Coolors. Co. Try out a few different options and see what works best for you and your data!

How to choose the right color palette based on the type of data

There are a few key things to consider when choosing a color palette for data visualizations:

-The type of data being represented

-The purpose of the visualization

-The audience of the visualization

For example, if you are visualizing categorical data, you will want to use a color palette that is easy to distinguish between different categories. If you visualize quantitative data, use a color palette to show the magnitude or change over time. And if you are creating a visualization for a specific audience, you will want to consider what colors they are most likely to respond to.

Using Color to Emphasize Trends and Insights and Best Practices for using color in data visualization

Regarding data visualization, color can be a powerful tool for emphasizing specific trends and insights. However, choosing the right colors for your data can be challenging. In this section, we’ll share some best practices for using color in data visualization and tips for finding the right color palette for your project.

When choosing colors for your data viz, it’s essential to keep in mind both the message you’re trying to communicate and the audience you’re communicating it to. Specific colors can convey different meanings, so it’s important to choose colors that will support the message you’re trying to communicate. For example, if you’re visualizing data representing growth or progress, consider using green or blue, as these colors are often associated with positive connotations. On the other hand, if you’re visualizing data representing decline or danger, you should use red or orange, as these colors are often associated with negative connotations.

In addition to considering the message you want to communicate, it’s also important to consider the audience you’re communicating it to. Different audiences will have different reactions to other colors. Choosing colors that will resonate with your specific audience is vital.

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Understanding of data: You get to learn how to work with and analyze data, which is a key component of data visualization. This understanding allows you to choose the right visual representation for your data and create meaningful insights from your data.
Knowledge of data visualization techniques: The course includes lessons on data visualization techniques, such as bar charts, line charts, scatter plots, and heat maps. This knowledge helps you choose suitable visual representations for your data and effectively communicate your insights.
Use of tools: You get lessons on using popular data visualization tools like Tableau, Power BI, and D3.js. This hands-on experience helps you become proficient in using these tools and enables you to choose the right tool for your needs.
Understanding of color theory: A data analytics course may include lessons on color theory, which is critical for choosing the right color palette for your data visualization. This knowledge helps you create visually appealing and effective visual representations of your data.
Best practices: Finally, the course covers best practices for data visualization, such as how to effectively label your charts, choose the right scales, and handle outliers. This understanding helps you create visually appealing and effective visual representations of your data.

Overall, this course strengthens your foundation for data visualization, allowing you to make meaningful insights from your data.

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A detailed overview of the logistics management system

Posted on February 11, 2023November 30, 2023 by Imarticus Learning

The business world is constantly evolving and advancing, and the field of logistics is no exception. With the rise of e-commerce and globalization, there is never a greater need for effective and efficient logistics management.

According to Oliver Wyman’s analysis “Last Mile 2028,” due to the continued growth in parcel volumes and the consequent rise in demand for delivery drivers, the cost per parcel will increase to EUR 4.50 in ten years from the current cost of about EUR 2.50.

As a result, hourly pay will rise from around EUR 15 to as much as EUR 30 to combat the worsening driver shortage and make the job more desirable. By 2028, the delivery cost per package will double due to rising staff costs alone.

A Logistics Management System is the solution many companies have turned to streamline their supply chain processes and stay ahead of the competition. This blog post will dive into the world of LMS and what it can do for your business.

What is Logistics Management System?

An LMS is a software solution that manages end-to-end supply chain processes, including procurement, inventory management, and transportation.

The term “logistics management” describes purchasing, storing, and moving inventory from one location to another. In addition to getting the goods to the appropriate location at the proper time and to the right customer, it involves maintaining the inventory, resources, and pertinent information.

Benefits of Implementing an LMS

There are numerous benefits to implementing an LMS:

Improved Visibility: The most significant advantage of an LMS is the ability to have real-time visibility into your supply chain processes. With an LMS, you can easily track inventory levels, shipments, and delivery times, allowing you to make informed decisions and react quickly to any changes.
Enhanced Efficiency: An LMS automates many manual processes, such as order processing and shipping, reducing the risk of human error and increasing efficiency. Additionally, it streamlines the flow of information between different departments and stakeholders, reducing the time it takes to complete tasks and make decisions.
Better Inventory Management: An LMS provides detailed information on inventory levels, allowing you to quickly identify when you need to restock and avoid stock shortages. It also helps to reduce the time it takes to complete tasks, freeing up time and reducing the need for overtime.
Increased Productivity: By automating manual processes and providing real-time information, your employees can focus on higher-value tasks, freeing up time and increasing their overall productivity.
Reduced Costs: By streamlining processes and improving visibility, an LMS helps to reduce costs associated with manual labor, stock shortages, and shipping errors.

Choosing the Right LMS for Your Business

Many different LMS solutions are available, each with unique features and benefits. When choosing an LMS for your business, you must consider your specific needs and requirements.

Some things to consider include the following:

Integration: Does the LMS integrate with your existing systems, such as your e-commerce platform, accounting software, and transportation management system?
Customization: Can the LMS be customized to fit your specific business needs?
User-Friendliness: Is the LMS user-friendly and easy to use?
Reporting and Analytics: Does the LMS provide detailed reporting and analytics, allowing you to track key metrics and make informed decisions?
Support and Maintenance: What level of support and maintenance is provided by the vendor, and is it adequate for your needs?

A Logistics Management System can be a game-changer for businesses of all sizes. By streamlining processes, improving visibility, and reducing costs, an LMS helps companies to stay ahead of the competition and achieve their goals.

Explore the IIT Roorkee supply chain management course with Imarticus Learning.

With a logistics and supply chain management course, you can prepare for in-demand jobs like demand planner, data scientist, supply planner, and supply and operations planner. Professionals looking to maximize their expertise in Supply Chain And Logistics Management should consider certification to equip leaders with the necessary tools to drive tactical, operational, and strategic decisions.

Course Benefits For Learners:

By fusing a logistic management course, you can get ready to help develop more innovative and tactical global supply chains.
With the help of IIT’s supply chain program, you can advance your career and become a supply chain analyst. Utilize this chance to start your career as a seasoned demand planner or data scientist!
Students who study Python develop a data-centric mindset, which will improve their decision-making in the supply chain.

What are the prerequisites before you apply for the Chief Supply Chain officer course

Posted on February 11, 2023February 11, 2023 by Imarticus Learning

An efficient supply chain is the backbone of any modern business, and to manage the operations, every organisation needs a capable team, a team that has the right blend of youthfulness and experience. Since this team will be primarily responsible for sourcing the material for production to distribution, firms look for managers who will be able to handle the team and achieve the goals set by the firm.

Hence, there is a great demand for expert supply chain managers who can handle all the operations in an organised and efficient manner. This is why it is the right time to begin a career in supply chain and operations.

What is supply chain management?

According to a Fortune magazine report, the entire logistics industry is worth USD 1.3 trillion. However, there is a manpower crisis that the supply chain industry is facing. There is an average requirement of 1.4 million new supply chain workers. It means that there are a lot of opportunities for the right candidate. All they need to do is complete their chief supply chain and operations officers course.

Since there is a wide range of jobs after pursuing the programme, the students need to simply fulfil the academic and professional prerequisites before they apply for a job in supply chain management.

The different sectors in supply chain management

There are various sectors in supply chain management in which candidates can search for a job. These sectors are:

Aviation
Manufacturing and distribution sector
Logistics companies
Shipping corporations

Candidates can choose jobs for designations like Supply Chain Manager or Supply Chain Director, or they can also choose to work as a purchase manager of a supply chain or a strategic planner and can even choose to manage the inventory. The average annual salary of a supply chain manager is in the range of ₹8 to ₹10 Lakhs.

How is supply chain management important for all industries?

Supply chain optimization helps in business transformation. Companies like Apple and Amazon have re-designed the usual supply chain formula for removing bottlenecks like inventory stagnation and lower prices to gain an edge over the competitors.

Another example in this regard would be DHL, which was able to challenge the old paperwork-based system of processing border checks. They changed the norm by sending the customer’s paperwork before the delivery of the package. This helped to quicken the delivery process. In both the cases mentioned here, efficient and well-designed supply chain management came to the rescue of the customer and company both. It helped them to save time and money and saved both the company and the customer a great deal of time and money and saved them from any type of hassles.

Prerequisites for applying for the chief supply chain officer course

There are multiple prerequisites for entering the field of supply chain and management. There is academic and professional eligibility that a candidate needs to fulfil. These criteria are mentioned below:

Academic prerequisites

If you want to begin chief supply chain and operations officers online training, then the academic eligibility criteria are:

You need to have completed a 3-year bachelor’s degree course. The academic aggregate can differ as per different college/university requirements. The college or university should be a recognised one. Also, make sure that you have scored the minimum percentage that the institute has mentioned.
Candidates should be from a science or commerce background, preferably. You can have a Physics/Maths/Statistics/Economics/B.Sc (PCM)/B.E/B.Tech. Although there are no educational criteria, having this background will help the candidate grasp the course content easily.
If candidates have an understanding of optimisation techniques in business and know about project planning and cost efficiency, then it would be highly helpful.
Any additional qualification like SAP (CRM) would also be helpful for the candidate to have a better understanding of the course.

Professional prerequisites

Prior experience in the supply chain is highly beneficial for students as they will be able to understand job-related concepts better than the rest as they have hands-on knowledge.
APICS, CPIM or CSCP certifications help to understand supply chain management extensively.
Proficiency in MS Excel is necessary because it helps in inventory management.
A supply chain manager should also understand Databases, Charts and Graphs.

Conclusion

Building a career in supply chain and operations is not a massive hurdle anymore. You can do it with the help of a simple course from leading educational institutions like Imarticus Learning. Here, you can enrol for Professional Certification in Supply Chain Management and Analytics, which the faculty of the IIT Roorkee teach. Besides an extensive program from experienced industry professionals, you will also receive placement assistance from them, which will help you find the next step in your career.

How is IIM Raipur to pursue a course in supply chain management

Posted on February 10, 2023February 14, 2023 by Imarticus Learning

In any business, the supply chain is the process that takes raw materials and transforms them into the products or services that customers want. Simply put, it’s the steps a company takes to turn inputs into outputs.

The management of this process is known as supply chain management (SCM). And it’s become increasingly important in recent years as businesses have globalized and become more complex.

There are several reasons for this. First, businesses now operate in an environment of more significant uncertainty. They have to deal with more suppliers, contracts, and regulations. This complexity makes it difficult to forecast demand and plan production.

Second, customers have become more demanding. They expect higher quality products and faster delivery times. This has put pressure on companies to shorten their lead times—the time it takes from when an order is placed until it’s delivered to the customer.

To meet these challenges, companies have had to rethink their supply chains and adopt new SCM practices. Here are some of the most critical trends in SCM:

The use of information technology to manage the flow of goods, information, and money
The development of collaborative relationships with suppliers and customers
The adoption of lean and just-in-time production methods

Why does the Reputation of IIM Raipur matters as a premier business school?

There are many reasons why the reputation of IIM Raipur matters as a premier business school. For one, IIM Raipur is consistently ranked amongst the top 10 business schools in India by various prestigious rankings. Graduates of IIM Raipur can expect to be highly sought-after by employers. Additionally, IIM Raipur has a strong alumni network, which can provide students with valuable networking opportunities and connections. Finally, IIM Raipur has a well-established reputation for excellence in teaching and research, which means that students can expect to receive a world-class education at the institute.

Ideal Curriculum & course offerings in supply chain management at IIM Raipur, and specialization options:

The Indian Institute of Management Raipur (IIM Raipur) offers a two-year, full-time postgraduate program in management (PGP) specializing in supply chain management. The curriculum for the PGP program is designed to provide students with a strong foundation in all aspects of business and management, with a focus on supply chain management.

IIM Raipur offers a wide range of courses in supply chain management, including introductory and advanced courses. Students can choose to specialize in one or more areas of supply chain management, such as operations, logistics, and transportation. In addition to coursework, students must complete an internship and a capstone project.

Graduates of the PGP program at IIM Raipur have gone on to careers in various industries, including manufacturing, retail, healthcare, and government. Many have also pursued studies in supply chain management or other related fields.

What are the Career opportunities for students in supply chain management?

There are many career opportunities for students in supply chain management. Some of the most popular career paths include:

Supply Chain Manager: A supply chain manager is responsible for planning, implementing, and managing the overall supply chain for a company. They ensure that all materials and products are delivered on time and within budget.
Logistics Manager: A logistics manager is responsible for coordinating and overseeing the movement of goods and materials. They optimize the transportation of goods to minimize cost and improve efficiency.
Warehouse Manager: A warehouse manager oversees the storage and distribution of goods and materials. They ensure that inventory is managed correctly and orders are fulfilled promptly.
Purchasing Manager: A purchasing manager is responsible for sourcing and procuring goods and materials for a company. They ensure that all purchases are made at the best possible price and quality.

Learn and Grow with Imarticus Learning:

If you are looking to make a career in supply chain and operations, start with supply chain and operations training at Institute of Industrial Management (IIM) Raipur and Imarticus Learning. This IIM Raipur supply chain and operations course is designed as a premier leadership program for senior supply chain professionals. The 10-month long program, let’s you acquire strategic, operational, personal and technological skills to become a leading SCM manager. The program features over 150 hours of hands-on training delivered by the accomplished IIM Raipur faculty. Connect and collaborate with your peers and experience a whole new learning journey.

Course USPs:

C-suite Training
SCM Globe Simulations
Masterclasses by Industry Leaders
Campus Immersion
IIM Raipur Alumni Status
Learn from Industry Experts

For further details, contact the Live Chat Support system or plan a visit to one of our training centres in Mumbai, Thane, Pune, Chennai, Bengaluru, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

How a Data science course from IIT can be beneficial for your career

Posted on February 10, 2023January 22, 2024 by Imarticus Learning

The study of data which extracts important insights for a business or any organisation is known as data science. It combines statistics and mathematics, machine learning, advanced analytics, specialised programming, and artificial intelligence (AI) with expertise on specific subject matter to extract important insights which sometimes may be hidden in the data of an organisation.

Obtaining a certificate program in data science and machine learning helps one to stand out amongst the other applicants, especially if the course is done at an IIT. This also makes one more eligible for a job in this field of data science which is quite a lucrative career to pursue.

Benefits of having a certification course in data science

The field of data science is growing rapidly, and more and more employers are valuing skilled people in the field of data science. One of the largest benefits of recruiting data scientists is fueling data operations and enablement in an organisation. But, the benefits of having data scientists are just not restricted to analytics or data science. They have a vital role in various organisations across different industries. Here are some reasons why data science courses are necessary:

Freedom, flexibility and options

Data science is a line of work where one has a lot of potential options and can never get bored. There are many industries that leverage data science’s powers, starting from finance and healthcare to entertainment and retail. All companies and industries need extremely qualified data scientists, and they have started realising that. If one does a certification course in data science, there are other job opportunities also available apart from becoming a data scientist. One can choose to work as a data architect, data engineer, business analyst, research scientist and much more.

Learning the most important tools of data science

The field of data science is continuously evolving, and data scientists always try to use innovative and creative tools to keep pace with the company’s changing needs. Different organisations use different tools, and for that reason, one cannot limit his/her knowledge to only one. It is extremely important to add to one’s skill set and know about the various tools of data science that a specific company uses. Having a data science certification course ensures that.

Keeping track of current industry trends

Registering for a course in data science helps one to keep track of all the latest industry trends in that specific domain. It is essential to learn new skills in order to expand the knowledge base of a data scientist. If one is engaged in a full-time job, then it can be very difficult to understand these things from different sources. For this reason, it is more efficient and beneficial to register for a data science course from an esteemed institution in order to enhance the learning experience. This can also turn out to be an asset for current employers and future potential buyers as well.

Easily showcasing the expertise

When one applies for a new opportunity, employers take different factors into consideration while evaluating the employee’s experience. Quite often, on-the-job experience helps one to show expertise in a specific field. Potential employers look up to experience through a well-reputed course certification as it reveals the candidate’s credibility and knowledge. The most beneficial position for a data scientist is to have on-the-job experience, along with a professional certification course in data science.

Benefits of having a data science certification course from IIT

IIT faculty members and experts in this industry have designed study programs to enable learners to build a solid foundation in the field of data science, which specialises in machine learning and Python.
The programs are delivered live through different online sessions held by some of the top faculty members of India.
Through the Digital India support scheme, IIT Roorkee provides a platform for people who plan on building startups. They can pitch the ideas of their startups and raise funds. This is a great opportunity for people who want to start their own companies.

Conclusion

Data science is an evolving field of study requiring a host of skills. There is a lot of career options to succeed in this field. IIT Roorkee data science online course and the IIT Roorkee machine learning certification course are some of the best programs on data science available in the country. These courses offer the fundamental aspects of data science along with the proper knowledge for implementing and applying these concepts in real-world scenarios. The 5-month Imarticus program built by iHUB DivyaSampark and IIT Roorkee will open the doors to top job placements.