Supply Chain Planning Courses: Best Practices To Adopt In 2022
Supply chain management (SCM) is vital for a company's growth and performance in the industry. A good SCM system can also help determine the business's future and its serviceability in the future. If done correctly, it can determine if the company will make it or break it.
Increased sales and overall better performance of an organization are directly proportional to how successfully a corporation handles the process of taking a product or a service idea to the finished items. This is indeed a tough and long process with a lot of moving pieces.
A supply chain management career is one of the most sought-after career options amongst students and working professionals looking to change careers or upskill and reskill themselves nowadays. If you are interested in this field, then this is the perfect time for you to dive deep into exploring this exciting new career opportunity.
Give a quick read to this article to know more about the various aspects of supply chain planning in detail.
What is Supply Chain Management?
Supply chain management or SCM is the management of a product's or service's full manufacturing cycle, from raw materials through the final delivery of the items to the customer. Therefore, a business establishes a network of suppliers in its company who transports products from raw material suppliers to the organizations that deal with customers.
For example, a clothing and accessories company’s supply chain management will deal with all the processes of manufacturing items, then transporting them to a place for warehousing, and finally packaging and shipping them as the client orders on a day-to-day basis.
Why is Supply Chain Management Important for a Business?
A well-thought-out supply chain management or SCM plan not only helps in fulfilling the day-to-day activities of an organization but also possesses the ability to quickly diagnose problems in any of the steps and creatively solve them within minutes. Below are some of the reasons why supply chain management is a core part of any business:
- For any company in any industry, its customers are the most important thing if the business wants to earn profit and grow. Customers will always expect their desired products and services to be delivered to them as soon as possible. Thus, it falls on quick and solid supply chain management to deliver with precision in order to satisfy the client's needs.
- Customers also want their things to arrive on time, without any delays. For example, if a pizza delivery company promises to deliver pizzas in less than 30 minutes, but is unable to maintain this timeframe repeatedly, then its customers will automatically feel betrayed and look for better options.
- Manufacturers and retailers rely on efficient supply chain management to develop a high-functioning network that satisfies the highest customer service requirements at the lowest total cost.
- Good supply chain management can drastically reduce operating, production, and purchasing costs. Retailers and manufacturers rely on supply networks to get items quickly. As a result, they would not be losing their valuable time.
Roles and Responsibilities of a Supply Chain Manager
Below is the list of roles and responsibilities of a supply chain manager:
- A supply chain manager should be able to get together with all the other departments and maintain an effective communication system to maintain a successful supply chain.
- They have to create and maintain a precise inventory of goods and supplies throughout the organization's sites and warehouses.
- Basic knowledge of data analysis is a must for supply chain managers. As it will help in giving recommendations by looking at the current inventory and processes.
- A supply chain manager is also a person who develops strategies, which will enhance supply chain efficiency while maintaining quality and safety, and executes subsequent process adjustments.
- One of their most important responsibilities includes negotiating prices for raw materials from retailers, small vendors, and/or large shipping companies.
- They also take part in product development meetings and provide guidance, in terms of costing and other things related to the new products or services.
- Last but not the least, they also keep track of all the suppliers and see if they can meet the company’s delivery specifications or not. Based on that, they change their suppliers.
Companies need efficient management of providing products and services to their customers and also moving goods across locations for various purposes. The job growth in this career is above average, according to reports.
As a result, the demand for skilled supply chain managers is not going to vanish anytime soon. Now is the perfect time for joining a supply chain management and analytics course and learning all about this career option. Visit our website to know more about this course and also to browse other options.