Tag: best supply chain management course

In today’s world, supply chain disruptions caused by natural disasters, political instability, and pandemics are becoming more frequent, emphasising the need for a robust disaster response and recovery plan in supply chain management.

Professionals with a certification in supply chain management, mainly those trained in supply and operations planning, play a crucial role in ensuring that businesses are prepared for potential disruptions and can recover quickly. 

With their expertise, they can help organisations navigate challenges and minimise the impact of disasters on supply chain operations.

Importance of Disaster Preparedness in Supply Chain Management

Supply chain disruptions caused by natural disasters, geopolitical events, and other unexpected circumstances can significantly impact businesses, causing delays, shortages, and loss of revenue. 

Some of the importance of disaster preparedness in the supply chain is as follows:

Risk Mitigation

Disaster preparedness aims to reduce the risk of supply chain disruptions caused by natural disasters, accidents, or other unexpected events.

This includes identifying potential risks and developing strategies to mitigate them, such as:

• Conducting risk assessments and mapping out potential supply chain disruptions
• Identifying critical suppliers and developing backup plans for alternative sourcing
• Creating redundant systems to ensure continuity of operations in case of a disruption

Cost Savings

Preparing for disasters can save supply chain managers high costs in the long run. This includes:

• Avoiding stockouts and lost sales due to disruptions
• Minimising costs associated with rush shipping or expediting production to catch up on lost time
• Reducing the need for emergency response services or additional labour to handle disruptions.

Reputation Management

Supply chain disruptions can also damage a company’s reputation, particularly if it cannot meet customer demands during or after a disaster. By being prepared, companies can:

• Maintain a positive image by ensuring business continuity and customer satisfaction
• Demonstrate their commitment to sustainability and corporate social responsibility by minimising the environmental impact of disruptions.

Key Elements of an Effective Disaster Response Plan for Supply Chains

An effective disaster response plan is essential for minimising supply chain disruptions caused by natural disasters, accidents, or other unexpected events. 

Here are some key elements that businesses should include in a comprehensive disaster response plan for supply chains:

• Risk Assessment: A risk assessment should identify potential risks and vulnerabilities in the supply chain network. This includes mapping out potential supply chain disruptions, identifying critical suppliers, and assessing the impact of disruptions on business operations. 
• Business Continuity Plan: A business continuity plan should ensure critical business functions can continue during a supply chain disruption. It includes identifying alternative sourcing strategies, developing redundancy plans, and establishing communication protocols and emergency response procedures for all stakeholders in the supply chain. 
• Technology: Technology can be critical in disaster response efforts, including real-time supply chain operations monitoring and data analytics to identify potential disruptions. 

By including these key elements in a comprehensive disaster response plan, supply chain managers can be well-prepared to navigate unexpected events and minimise the impact of disruptions on business operations.

Role of Technology in Supply Chain Disaster Recovery

Technology is critical in supply chain disaster efforts by enabling real-time monitoring, data analytics, and supplier communication. Here are some specific ways technology can support disaster recovery in the supply chain:

Real-time Monitoring: Technology enables real-time monitoring of supply chain operations, helping managers quickly identify disruptions such as weather conditions and traffic patterns. This allows for prompt action to minimise the impact on the supply chain.

Data Analytics: Data analytics can identify potential disruptions in the supply chain, allowing managers to adjust their operations proactively and avoid potential issues, such as changes in demand or disruptions in logistics.

Communication: Cloud-based supply chain management systems use technology to communicate with suppliers, track shipments, and manage inventory levels. Real-time visibility into operations allows managers to make informed decisions and respond promptly to potential disruptions.

Automation: Automation is a valuable tool for streamlining supply chain operations and minimising disruptions caused by human error. Businesses can achieve it through automated warehousing systems, autonomous vehicles, and other technologies that enhance speed and efficiency.

By leveraging technology in these ways, supply chain managers can improve their disaster recovery efforts and ensure that their operations are resilient to potential disruptions.

Best Practices for Managing Supply Chain Disruptions During a Disaster

Disasters such as natural calamities, cyber-attacks, and geopolitical issues can cause significant disruptions to global supply chain networks. 

Here are some best practices for managing supply chain disruptions during a disaster:

Collaboration

Collaboration is key to managing supply chain disruptions during a disaster. Supply chain managers should work closely with suppliers and customers to identify alternative sourcing strategies and develop contingency plans.

Redundancy

Redundancy is critical to ensuring business continuity during a disaster. Supply chain managers should identify critical suppliers and establish redundancy plans to ensure that essential products and services can continue to be delivered.

Flexibility

Flexibility is essential during a disaster, as disruptions occur quickly and unexpectedly. Supply chain managers should adjust their plans and operations to respond to the changing situation.

Risk Assessment

A risk assessment should identify potential risks and vulnerabilities in the supply chain network. It includes mapping out potential supply chain disruptions, identifying critical suppliers, and assessing the impact of disruptions on business operations.

Contingency Planning

Companies should develop a contingency plan to ensure critical business functions can continue during a supply chain disruption. 

Contingency planning includes identifying alternative sourcing strategies, developing redundancy plans, and establishing communication protocols and emergency response procedures for all stakeholders in the supply chain.

Testing and Training

Regular testing and training ensure that the disaster response plan is effective and that all stakeholders respond to potential disruptions. 

Testing and training include conducting tabletop exercises, reviewing emergency response procedures, and providing training to supply chain employees.

Case Studies: Lessons Learned from Supply Chain Disasters and Recovery Efforts

There have been several high-profile supply chain disasters over the years, which have provided valuable lessons on how to manage supply chain disruptions and recovery efforts. Here are a few examples: 

The 2011 Thailand floods disrupted the hard disk drive supply, causing a global market shortage. Companies that had diversified their suppliers were better able to weather the disruption.

Companies that relied on a single supplier scrambled for alternatives and paid a premium for scarce inventory. The floods highlighted the importance of supply chain risk management and the need for redundancy.

The 2011 earthquake and tsunami in Japan disrupted the supply of electronic components, semiconductors, and automotive parts. Companies with a detailed understanding of their supply chain networks were better able to respond to the disruption.

Many companies implemented contingency plans and alternative sourcing strategies to minimise the impact of the disruption. The disaster highlighted the importance of supply chain visibility and the need for agile response capabilities.

Conclusion

Effective disaster preparedness and management are crucial for maintaining a resilient and efficient supply chain. With the help of technology and automation, supply chain managers can better monitor and adjust their operations, minimise the impact of disruptions, and prepare for potential disasters. 

Data analytics can provide valuable insights for identifying weaknesses and improving processes.

If you want to advance your supply chain management and analytics career, consider enrolling in Imarticus Learning’s Professional Certification in Supply Chain Management & Analytics.

This program provides a comprehensive understanding of supply chain management concepts and tools, including the role of a Supply and Operations Planner. Visit Imarticus Learning for more information.

Supply chain management deals with cut-edge tools and methods in which businesses can be revolutionised. From acquiring raw materials to manufacturing and delivering a product, the supply chain management is responsible for completing orders at the right time while ensuring the highest quality of any product.

As we share our insight on the current landscape and processes that the Chief Supply Chain and Operations Officer overlooks, we aim to outline the seemingly complex process that stands as a critical element to any business. This article will explore the supply chain management strategy while delving into the procurement process.

How Does Supply Chain Management Work? 

Supply chain management (SCM) is an elaborate process that controls the existing incoming and outgoing flow of goods and services. It examines all processes, from acquiring materials needed for making the product to delivering the final product. 

It works by optimising the procurement process in a way that is in the company’s best interest. While the process entangles numerous management areas, these fields conclude the entirety of the SCM process —strategic planning, procurement, product development, inventory management, and logistics. 

Overview of Popular Methodologies 

The Chief Supply Chain and Operations Officer looks after the two main areas of SCM, namely logistics-based methodologies and demand-based methodologies. The logistics process consists of a multitude of areas including inventory, transportation, warehousing, and distribution. 

Furthermore, it handles the streamlining of resources. On the other hand, demand-based methodologies analyse customer demand and the costs of meeting that demand.

Logistics-Based Methodologies

Just-in-Time (JIT)

Just-in-time management is a methodology aimed at reducing costs and space related to inventory by storing only items according to existing demand. This process ensures ample use of storage for manufacturing and retail settings.

Cross-Docking Logistics

Cross-docking is a logistics practice where products are received from a supplier and immediately reloaded onto a different vehicle for delivery to the customer. This approach eliminates the need for warehousing, reducing inventory costs and shortening delivery times.

Lean Logistics

Lean logistics is a methodology designed to increase efficiency and reduce costs by eliminating waste in the supply chain. It focuses on streamlining processes and eliminating non-value-added activities, such as unnecessary handling and storage of products. 

Reverse Logistic

Reverse logistics return goods from customers to the manufacturer or supplier. It is used to manage returns of defective or repaired products or dispose of excess inventory. 

Supply Chain Visibility

This approach focuses on increasing visibility into the supply chain by leveraging technology such as tracking systems, sensors, and RFID tags. It creates a real-time view of the supply chain, allowing organisations to anticipate and respond to changes more quickly.

Vendor-Managed Inventory (VMI)

Vendor-managed inventory (VMI) is a supply chain management system in which the supplier of a product is responsible for maintaining the appropriate inventory level of that product at the customer’s site. The supplier replenishes inventory as it is consumed for forecasting customer demand for the product.

Quick Response (QR) 

The Quick Response (QR) method is a supply chain management method seeking to maximise efficiency and minimise costs by using technology and data to make decisions quickly. It is designed to reduce inventory costs, improve customer service, and eliminate waste in the supply chain. 

Demand-Based Methodologies

Demand-Driven Materials Requirement Planning (DDMRP)

The Demand-driven MRP is a planning system for managing inventory within a given supply chain. It uses a pull mechanism to adjust inventory levels based on demand signals as opposed to the traditional push system method.

Distribution Requirements Planning (DRP)

The Distribution Requirements Planning (DRP) division ensures the efficient delivery of systems at the right time by combining inventory, sales, and product data. The system creates a plan for product distribution used for both long-term and short-term needs.

Automated Replenishment System (ARS)

As the name suggests, the Automated Replenishment System (ARS) combines the tracking of inventory levels with the automated generation of orders on the fall of stock levels. This automated system ensures the availability of inventory on customer demand.

Warehouse Management Systems (WMS)

The Warehouse Management System (WMS) is an adequate supply chain management strategy that drives companies to manage the storage and movement of inventory within the existing supply chain. It is a software application that can be easily integrated with other systems to generate real-time visibility.

Enterprise Resource Planning (ERP)

Enterprise resourcing planning is a system with demand-based methodologies that handles procurement process management by offering real-time visibility. Apart from procuring, the ERP helps companies source and distribute goods and services.

Advanced Planning & Scheduling (APS)

The Advanced Planning and Scheduling (APS) system is an integrated process aligned with the supply chain for planning, scheduling, and optimising the flow of materials and resources. This process identifies and mitigates supply chain risks and improves customer service expectations.

Conclusion 

The popular methodologies used in supply chain management are beneficial to the overall improvement of supply chain operations. Not only do they help to reduce overriding costs, but they also enhance the supply chain and deliver better alternatives to ongoing operations.

Per a report by Grand View Research, supply chain management is projected to grow by a minimum of 11.1% CAGR by 2030. An IIM supply chain management course delves into the intricacies of the supply chain management process while also discussing the skill set and knowledge required to apply these methodologies. Seize the opportunity today and apply for an extensive SCM programme with Imarticus’ Executive Certificate Programme in collaboration with IIM Raipur!

Expertise in supply chain management equips managers with the proper understanding for handling elaborate processes. Furthermore, you can always refer to a supply chain management certification course to ensure that your employers have the best impression of you.

Why is logistics important in supply chain management?

Supply chain management is the management of all the processes involved in producing goods and services. The larger the chain is, the more complex all this gets. And this is where logistics comes into the picture. It’s the glue that holds it all together—making sure everything is delivered to the proper place at the proper time and in the proper condition.

But what exactly is logistics?

Logistics is everything involved in managing the resources of a project. A logistics manager ensures that each step of the way is complete and efficient. They ensure that resources are being used properly and play an active role in improving the production cycle.

Let’s explore some of their functions a bit more closely:

1. Customer satisfaction

Meeting client requests and ensuring the timely delivery of high-quality products are key logistics functions. This is especially important for companies where late delivery is a dealbreaker. Logistics managers can often act as the bridge to ensure everything is on track and customers are happy.

2. Cost savings

Lowering overall costs is also a really important logistics function. Streamlining supply chains, decreasing inventory costs, and improving transportation routes are great ways to cut costs. Another popular strategy is using technology and data analytics to improve the production process. This also helps the company increase its profit margin!

3. Inventory management

Inventory management involves the logistics of transporting products and raw materials from suppliers to producers and distributors. With effective supply chain management, you can improve your stock management processes and reduce inventory holding expenses.

4. Risk management

Logistics managers also recognize potential issues in the supply chain and put mitigation plans in place. This includes evaluating risks involved in handling, storing, and transporting commodities. It also means taking necessary action to reduce the effects of any supply chain disruptions.

Why logistics matters in today’s business

If you want your business to thrive in the global economy, you must pay attention to logistics. Investing in logistics gives your business a competitive edge and puts you on a path to success. Here’s why it matters for today’s global business:

1. You can scale up and expand

It paves the way for you to scale up your company’s operations across countries and regions. A robust logistics model will help you effectively manage the difficulties of cross-border trade, including customs rules, import/export procedures, compliance challenges, and other aspects of international trade.

2. Your business can be more sustainable

Logistics can also help your company be more sustainable. This can be done by setting up sustainable processes that lessen environmental impacts. Using energy-efficient transportation, cutting waste, and recycling products are all examples of sustainable logistics techniques.

Recent trends in supply chain management

As the business landscape becomes more global and technology continues to evolve, supply chain management grows as well. The field is actively responding to the world around it, and this trend-driven transformation will only continue.

Here are some recent trends in the supply chain management world:

1. Automation and digitalisation

Digital technologies like blockchain, artificial intelligence (AI), and the Internet of Things (IoT) are game changers in supply chain management. These tools offer real-time visibility and insights into operations, meaning you can quickly intervene and improve processes.

2. Sustainability

More and more companies are realizing the importance of sustainability and social responsibility. Through logistics, they take active steps to reduce their carbon footprint, recycle waste, and find ethical sourcing methods. These steps play an important role in improving the overall production process.

3. Risk management and resilience

Calamities like the COVID-19 pandemic and climate change highlight the need for supply networks that are flexible yet robust. In this new world, logistics managers have to design systems that account for business challenges, disasters, societal tensions, and other such circumstances.

Businesses that embrace innovation and adapt to these changes are more likely to prosper in a global market that is becoming more complex and competitive.

Sort out your logistics, keep learning, and transform your business

Setting up a logistics model is just the beginning. Many curveballs are coming your way as you set up processes that are perfect for you.

Here’s how you stay on top: constantly educate yourself. Keep up with trends in the industry and assess competitors’ logistics models.

For more in-depth knowledge, also consider taking an academic route and enrolling yourself in some courses. A great option is Imarticus Learning and IIM Raipur’s Supply Chain Management Course. It is a fantastic balance of academic instruction and hands-on activities.

We hope this short introduction has given you a headstart on starting your career in supply chain analytics and management. Follow Imarticus Learning for more insights on developing your professional skills.

A supply chain design refers to creating and managing a system of operations that delivers products or services to customers. It involves almost everything from the supplier to the end customer. Professionals who become supply chain analysts can improve efficiency, reduce costs and enhance customer satisfaction. That’s why leading companies prefer professionals having supply chain management courses with analytics.

Suppose a coffee company designs its supply chain. It will start by sourcing high-quality coffee beans from farmers. The company works closely with its suppliers to ensure the beans are produced and stored sustainably. Once harvested, beans are transported for roasting to create the desired flavour profile. Beans are then packaged and distributed to coffee shops and retail partners.

Stages of a Supply Chain

Let’s take another example of a clothing company to understand different stages.

Planning

The clothing company plans its supply chain by forecasting the demand and creating a production plan. This includes the quantity needed and the production schedule for each item.

Sourcing

The company then sources raw materials, such as fabric and thread, from suppliers. Moreover, it negotiates prices, establishes contracts and manages supplier relationships.

Production

The raw materials are then transformed into finished products in a production facility. It can be shirts, pants, jeans, or any other piece of clothing. This stage includes –

Managing the production process

Monitoring quality control

Ensuring that production schedules are met

Inventory management

Once produced, the inventory is stored and managed in the warehouse. This includes –

Monitoring inventory levels,

Tracking shipments and

Ensuring timely delivery

Transportation

The finished products are transported to stores using various transportation modes. This stage involves –

Managing logistics,

Identifying transportation modes and

Tracking shipments.

Retail

Once the products reach the stores, they are available for customers to buy. This stage includes –

Managing distribution channels,

Coordinating with retailers and

Ensuring timely delivery in a cost-effective manner

Thus, by managing each stage, the clothing company ensures high-quality products with cost and resource optimisation.

How Supply Chain Design Works

The working of supply chain design is quite simple. Here is how it works –

The first step is to define the objective of the supply chain design. It could be for cost optimisation, to improve customer service or to reduce lead times.

The next step is to collect data on the current supply chain. Data can be collected from suppliers, transport agents and inventory management teams.

Once the data is collected, it is analysed to identify potential areas for improvement.

Based on the analysis, an improved design is developed. The new supply chain design aligns with the objective.

The new model is then tested to see how it performs under different conditions. For instance, changes in demand or supply disruptions.

Once functional, it is then implemented. But it can include some modifications as well if needed.

The final step is to track the success of the new supply chain design. In case of deviations, adjustments are made to meet the objectives.

Suppose a consumer electronics company wants to optimise the cost. So, the company uses supply chain design to identify –

The ideal number of warehouses,

Location of warehouses,

Production facilities and

Transportation routes

The company will collect and analyse data based on the current supply chain design. Based on the analysis, a new design will be proposed and tested for different scenarios. Once the new design meets the expectation, it is implemented. Finally, the new supply chain design will be monitored to ensure it meets the cost optimisation objectives. But, in case of a discrepancy, it will be adjusted as per the goal.

Why should a company understand its supply chain?

Understanding the supply chain is important for a company for several reasons. These are –

It allows the company to identify areas where efficiency can be improved. This ultimately leads to saving costs.

The company can identify potential bottlenecks. It helps in planning steps to address them to ensure production runs smoothly.

It also helps the company to manage risk. The company can mitigate risks with supply disruptions or quality issues by knowing the supply chain.

It also helps the company to meet product demands more effectively. This eventually helps in –

Managing customer expectations,

Enhancing lead times and

Focusing on quality and price

Make your supply chain design and become a supply chain analyst

Whether you are just a graduate or a working professional, everyone can learn to create supply chain designs. From creating supply chain design to managing supply chain uncertainty, this Certified IIT Roorkee Supply Chain Analytics Course through Imarticus Learning, a learning platform for professionals, covers everything. Enrol today and become a supply chain analyst tomorrow.

Supply chain management is now a critical component of business operations and is a major factor in determining an enterprise’s success. Thus, there is an increased need for qualified individuals who can efficiently manage intricate supply chain networks. 

The global supply chain has experienced disruptions over the past few years. Manufacturing facilities struggled to keep up with the rise in demand for delivered goods. Restrictions slowed transit, and worker shortages resulted in a backlog of port deliveries.

A CAGR of 11.2% is anticipated for the global supply chain market between 2020 and 2027. Therefore, the market value will rise from $15.85 billion in 2019 to $37.41 billion in 2027. 

Given the constantly changing landscape of technology and data, staying current with the most recent trends and developments in your chosen field is essential. So, if you are looking for a training program that will help you to develop an idea about the dynamics of an industry and help you understand how businesses operate, IIT Roorkee’s supply chain management course will get your mind working! 

Explore Your Career Potential: Join the Fascinating Field

IIT Roorkee is one of the best universities in the country. The institute has been imparting high-quality education for over five decades, producing some of India’s most distinguished engineers and scientists. In the list of Best Global Universities, the Indian Institute of Technology (IIT) – Roorkee is ranked #896. 

With the help of this program, you will have the knowledge and abilities necessary to succeed in the operations and supply chain sector and to excel in positions that are in high demand, including demand planner, data scientist, supply planner, and supply and operations planner. You can also gain a competitive edge in the job market by using Supply Chain Analytics to teach you how to use data to make strategic, operational, and tactical decisions. 

What Makes IIT Roorkee’s Supply Chain Course So Impressive?

• Curriculum

The curriculum is based on the latest industry standards and has been designed to give you a good foundation in supply chain management. This includes core topics like operations management, inventory management, procurement, and sales.  

The IIT Roorkee curriculum also ensures that students understand how their knowledge applies to real-world business problems today. In this sense, students need to learn how best to use their skillset when they leave the institute–and you can only achieve this by studying in an environment where there is a constant focus on the practical application of theory into practice!

• Faculty

The faculty at IIT Roorkee is a mix of industry practitioners, researchers, and academic experts. They have been part of the supply chain management course for several years and have developed much expertise in this field.

The faculty members at IIT Roorkee are experts in their respective fields who can teach you about various topics related to supply chain management so that you get a good grounding before moving on to your internship.

• Industry Interaction

Industry interaction is a significant part of IIT Roorkee’s curriculum. The students get to interact with big companies and small businesses in their area, which helps them gain real-world experience.

The faculty members are also involved in these interactions, so you can expect them to actively engage in discussions with your classmates on a range of topics related to supply chain management. 

• Placements

Placements are a great way to get your foot in the door, learn about the industry and company, and network with professionals. In this course, you will be placed in companies across India interested in hiring you for your skills and knowledge. 

Discover IIT Supply chain Analytics Course with Imarticus Learning.

Students can prepare for in-demand positions like demand planner, data scientist, supply planner, and supply and operations planner with a logistics and supply chain management course. Supply chain and logistics management professionals should pursue certification to give leaders the tools to drive tactical, operational, and strategic decisions.

Enroll in our supply chain management course with analytics now if you don’t want to miss out on this wonderful chance to advance your career!

Course Benefits For Learners: 

• You can get ready to assist in developing more creative and tactical global supply chains by combining a logistic management course.
• You can advance your career and become a supply chain analyst through IIT’s supply chain program. Take advantage of this opportunity to launch a successful demand planner or data scientist career!
• Students who study Python acquire a data-centric mindset, which will enhance their supply chain decision-making.

Aggregate planning for the entire supply chain could be an alternative if your manufacturing facility is inefficient and poorly planned. If a manufacturing company wants to increase operational efficiency, it must prioritise aggregate planning in supply chain management (SCM).

Aggregate planning methods can be useful when trying to predict supply chain needs several months in advance. With this method, you can see the big picture of the materials you will need to produce all the goods that people want to buy.

To receive bulk discounts and avoid shortages, it is best to place orders for the entire planning period. Knowing the ins and outs of aggregate planning and the supply chain is crucial before introducing it into your operations.

Examples of aggregate planning in supply chain management

The following are all examples of aggregate planning in SCM:

• Good demand prediction
  You’ll need to know the demand size for your goods before you can plan when to order supplies. Future demand for your products can be accurately anticipated by utilising historical data. This is in addition to the trends and predictions made by experts in your field. You will need the resources indicated by your forecast. This will tell you how much to produce to satisfy the demand and maintain a constant rate of production.

• Production of goods and services

  It is proportional to the accessibility of necessary resources (equipment, labour force, efficiency). You may check with your production department to find out how many products could it make within your time range. This might not be adequate to meet the needs of the public. But, making use of available production resources can help you set reasonable product output goals. Consider the possibility of worker and machine absences also.

• Constraints on available funds

  Investing in something is fine, but you need to remember that your spending plan has limits. Your options may be constrained by your budget in certain situations. Think about the cost of interest for any loans you might need to start up your business. To sum up, save up enough money to cover your future expenses.

The significance of aggregate planning

Achieving the organisation’s long-term goals depends in large part on aggregate planning.

• This leads to a more contented and joyful workforce.

• Lessen fluctuations in staffing levels.

• Determines available funds in the near term.

• Contributes to optimal space utilisation.

• Accomplishes organisational aims and objectives.

• Aids in balancing supply and demand.

• Reduces expenditures related to varied stocks, hence minimising stocking costs.

• Maximises service to clients by balancing demand and supply, and reduces wait times.

• Provides higher value to customers.

• Makes the most of available resources in manufacturing.

• Utilises the potential of various tools.

• Keeps production rate fluctuations to a minimum.

• Reduces a company’s overall operating expenses and boosts its bottom line so it may better pursue its objectives.

Strategies to implement aggregate planning

If you are facing a problem with aggregate planning, there are multiple strategies you can adopt. Here are some that can help:

Level strategy

The level method seeks to maintain steady output and headcount. Businesses must have accurate demand estimates to determine whether to ramp up or slow down production. This is in response to seasonal fluctuations in client demand. A level strategy provides staff consistency. One of the disadvantages of a level strategy though is an increase in backlogs and stocks.

Chase tactics

The chasing strategy seeks to dynamically balance supply and demand. The advantages of a chase strategy include having fewer goods on hand and fewer late jobs. The disadvantage is a drop in output, quality, and morale at work.

Using a complicated method

Hybrid strategies aim to strike a middle ground between level and chase tactics.

Before you begin your aggregate strategy

There are a few things to think about before beginning an aggregation plan. Have a look:

• Knowing the goals of the overall strategy and the fallout if those goals aren’t met is a prerequisite.

• Knowing how many orders make up your aggregate plan, and whether or not those orders will conflict with one another.

• Determining which demand plans will not interfere with your aggregate strategy.

• Thinking about whether or not the benefits outweigh the costs of implementing a comprehensive strategy.

The term “aggregate plan” is used to describe a strategy that is broad enough to apply to multiple industries. The change could be little, like introducing a new line of products, or significant, like expanding into an entirely new market.

Conclusion

Are you interested in understanding the basics of operations and supply chain management? Then, Imarticus Learning has just the right supply chain management course in association with IIT Roorkee. With this course, you can learn the basics and take your organisation to the next level. Contact their representative for more details.

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.

Supply Chain Management is a rapidly growing field with tremendous potential for career growth. With the advancement of technology and globalisation, the demands on supply chain professionals have increased exponentially. A successful career in Supply Chain Management involves analysing data, understanding customer needs, and managing resources to ensure customer satisfaction.

Supply Chain professionals are highly sought after due to their ability to forecast market trends and respond quickly to changes in demand. They are expected to create efficient strategies for optimising inventory levels, manufacturing processes, distribution networks and transportation systems to reduce costs and improve customer service. Additionally, they must understand how each element of the supply chain affects one another to identify opportunities for improvement.

Those pursuing a career in Supply Chain Management should have strong analytical skills, make informed decisions quickly, and be comfortable working with various stakeholders. Supply Chain Managers must also possess excellent communication and problem-solving skills to collaborate with other departments and develop innovative solutions effectively.

How can a Supply Chain Analytics certification help gain industry insights?

A Supply Chain Analytics certification provides professionals with the knowledge and skills necessary to identify trends and opportunities in the supply chain. Through a supply chain management course with analytics certification, individuals can improve their understanding of analytics tools, develop strategies for optimising performance, and gain insight into industry best practices. In addition, this certification can equip professionals with the ability to make data-driven decisions that will benefit their organisation.

Furthermore, Supply Chain Analysts can apply for certifications such as PMI’s SCMA (Supply Chain Management Analyst) or APICS’ Certified Supply Chain Professional (CSCP). These certifications provide comprehensive training on all aspects of supply chain management, from inventory control, logistics planning, demand forecasting and more. With these credentials, Supply Chain Analysts can demonstrate their expertise and add value to their organisation.

Pursuing a career in Supply Chain Management can open up numerous opportunities for professionals looking to build successful careers.

Certifications for Supply Chain professionals can provide them with the necessary knowledge and skills to develop efficient strategies that will benefit organisations in today’s competitive business environment.

The outlook for supply chain analysts in the industry is very positive over the next few years. According to the Bureau of Labor Statistics (BLS), employment for all logisticians, which includes supply chain analysts, is projected to grow 5% from 2019-2029, faster than the average for all occupations. A continued increase in global trade and rising customer expectations for quick delivery of goods drive growth in this field. Therefore, it’s likely that demand for experienced and knowledgeable supply chain analysts will remain high through 2023 and beyond.

What skills do you gain after a Supply Chain Analytics certification?

A Supply Chain Analytics certification can equip professionals with the ability to:

• Analyse large amounts of data,
• Interpret and conclude trends,
• Implement changes that improve efficiency throughout the supply chain,
• Identify areas for improvement in the organisation’s supply chain processes,
• Collaboratively develop innovative solutions.

To become a supply chain analyst, the students, through the course, also learn how to use various analytics tools such as Big Data, Predictive Analytics, Machine Learning, and Artificial Intelligence (AI) to enhance decision-making capabilities.

Learn and Grow with Imarticus Learning:

The professional certification in supply chain management with Analytics from Imarticus Learning is a future-proof way to make a career with a new-age curriculum.

These certifications for the supply chain profession have been designed in collaboration with CEC, IIT Roorkee and industry leaders to provide a cutting-edge experience for candidates who wish to enter the operations and supply chain industry.

This course enables you to make data-driven decisions at strategic, operational, and tactical levels. With the current shortage of professionals with process and analytics talents, this certification prepares you for high-demand job roles such as Demand Planner, Supply Planner, and Supply and Operations Planner.

Course USPs: 

• Premium education standards to be competitive
• Unique pedagogy by IIT faculty & industry leaders.
• The program prepares students to gain from trending opportunities.
• Campus Immersion at IIT Roorkee

At the most basic level, Supply Chain Management oversees the entire production process, from procurement of raw materials to manufacturing them into goods to finally selling them in the market. This binds an organisation together by keeping both the suppliers and producers in a loop.

Supply Chain Management is very much in demand in recent times because of the rapidly evolving industry. This kind of management helps organisations to reduce costs by streamlining the entire production process and at the same time, making huge varieties of products available to the customers according to their needs. There are several courses that provide certifications for supply chain professionals. 

The major tasks of an efficient Supply Chain Management team involve the following- 

• Material handling
• Service creation
• Fulfilment of the order
• Information tracking
• Product lifecycle management 
• Supply chain planning

Essential Components of Supply Chain Management

• Efficient Planning- You must make a plan in advance to satisfy the distributor’s or the customer’s needs. To keep ahead of demand, preparedness is essential, even if your company just makes up a small portion of the supply chain. Planning becomes vital in this situation. You must ascertain the impact your company has on the supply chain before deciding how to preserve efficiency while providing your customers with continuous value. Inventory levels are automatically updated as items enter and exit a warehouse, and the information is updated. From there, you may examine the info, predict demand and order the products or resources required to satisfy future consumer demands.
• Low-cost sourcing- Making decisions about who gets what is a component of Supply Chain Management. You must supervise order transactions, control inventory movement, approve payments and occasionally send out advanced shipment alerts when there is an anticipated delay even in the warehouse or distribution centre.
• Modern technology usage- It is crucial to keep an inventory to have a highly successful Supply Chain Management system. An inventory is a ready list of the things, supplies and other necessities needed to make a good or provide a service. To distinguish between available stock and required stock, this list must be updated frequently. The ability to produce and sell products is impossible without effective inventory management, hence it is essential to the operation of Supply Chain Management. Currently, businesses are beginning to pay greater attention to this component due to its influence on production.
• Efficient production and delivery- Your company needs a supply chain to guarantee the traceability and authenticity of every item if it deals with any form of food, drink or chemical. For example, Supply Chain Management makes sure that the ingredients required to make a box of cereal have been accepted, processed, shipped, stored and delivered following stringent guidelines.
• One option to automate this part of the supply chain from a warehouse perspective is by employing barcodes for validation and traceability. Supply Chain Management and logistics are conjoint. It’s critical to coordinate orders, pick and pack, plan deliveries, invoice, dispatch, notify and collect payments. Every exchange along the road needs to be closely watched to ensure there are no mistakes or delays, even when using third-party courier systems.

• Reverse logistics- Building networks to facilitate and speed up product returns is another aspect of Supply Chain Management. Finding a new use for the goods includes considering options like reproduction, scraping or putting them back in the warehouse. Supply Chain Management involves being adaptable and satisfying the needs of the customer, in addition to adjusting to changes in supply and demand.
• Grasping trends accurately- A constant flow of information controls the world today. A company must keep up with all the most recent information regarding the numerous facets of its production to be successful. If the information is effectively and promptly communicated throughout the different levels of the organisation, it will be easier to understand the market patterns of supply and demand for a specific product. In a knowledge-based economy, information is essential, and a business’s prospects may be doomed by ignorance of any business-related topic.

Supply Chain Management Course

Nowadays, Supply Chain Management is a very popular course. To be successful in this dynamic, ever-changing industry, businesses need teams with adequate supply knowledge to help them and guide them. This field provides huge growth opportunities because of being highly demanded.

The IIT Roorkee Supply Chain Management course is provided by Imarticus. Their professional certification in Supply Chain Management and Analytics is an ideal program one can choose to become a supply chain analyst. This program provides you with live classes by top professionals and industry experts, hands-on learning experience with real-life Supply Chain Management project work, and an IIT Roorkee alumni status.

This certificate course will help you gain job-relevant skills and will help you take strategic decisions. It helps you with impressive learning and project portfolios that will help you in the placement process. If you want to take up a Supply Chain Management course, this is your ideal choice. 

Conclusion

Supply Chain Management is a crucial part of the dynamic business world. It deals with the most crucial aspects of a business. Hence, proper training courses must be taken up to be able to contribute to the success of an organisation. The right course like that of Imarticus will provide you with an accurate skill set and proper training, helping you get attractive offers. To succeed in Supply Chain Management, one must make decisions that will shape the course of a business, so it is advisable to take a certificate course to have hands-on experience.  

A supply chain is a network of people, resources and organisations involved in creating a product for sale. This chain-like system starts by sourcing the raw materials, turning them into valuable products, and finally making them ready for sale.

In recent times, the supply chain has evolved by streamlining the process of making goods available to consumers at a much lower cost. This has increased the living standards of society as a whole. The entire process of manufacturing and producing goods has become a whole lot easier. The supply chain keeps the group of suppliers and producers connected and managed efficiently. 

There are huge growth opportunities in this field as jobs are increasing with each passing day. To become a supply chain analyst, more people are showing an interest in this field and looking for the best supply chain management courses to pursue. 

There are many ways in which the supply chain is evolving in this ever-changing world – 

• They are making it easier for the consumer to purchase products from a store or online websites. 
• They are incorporating a lot of climate-friendly measures in the production of goods. They are making sustainable environment-friendly goods to attract climate-conscious consumers.
• They are constantly adopting new practices of sourcing raw materials and also trying out new suppliers to bring in a variety in their product ranges and make them appealing. 

Importance of Supply Chain as a Driving Force of a Business

• Better after-sales service
  

  The main responsibility of an efficient supply chain is its customer service and how it manages the flow of services required after a sale is made. This decides the satisfaction of a customer and ultimately, the fate of the company. Customers should get optimum support, answers to all their queries, and solution to their issues. The job of the supply chain is to keep the after-sales service accessible for all so that the customers can contact them as and when required. This will make them feel connected to the organisation.

   

• Upgrading the product quality
  This is one of the most important tasks of a supply chain. In this dynamic world with fast-paced industrial evolution, they should try to upgrade the quality of launched products constantly. They should play around with the packaging to make it lucrative or they should work on procuring long-lasting, durable products which are eco-friendly to attract all kinds of consumers. They can also invest in sourcing high-quality raw materials, which will make the products heavy-duty, adding to the goodwill of the business.
   

• Reducing manufacturing costs
  

  Reduction of costs is the most difficult task for a business to handle and that is why supply chain teams try their best to incorporate cost-effective measures for the production of goods. This involves introducing newer low-cost machinery, buying raw materials at the wholesale rate, reducing the number of defective items, and increasing the efficiency of the chain system. They could also work to limit the number of suppliers so that the cost can be managed as well as try to target a large range of consumers so that the sale increases, generating profits for the company.

   

• Introducing optimal marketing strategies
  

  It is the role of the team to come up with alluring strategies to increase sales. They should present the product in the best way to attract customers to make a purchase. Increased use of advertisements and social media can also be fruitful in generating buzz about a product. This is the deciding factor for the success of a product.

   

• Bettering the financial condition
  

  The supply chain team has to work towards improving the financial position of the business. It has to produce good quality products so that the customers return to make a purchase again. This is linked to the company’s goodwill, helping it build a brand name and bettering its position. It has to work in a way that the company generates profits, has reduced production costs, increased cash flow, and reduced fixed assets. This will prove that the company is adapting to new changes and making progress, adding to its success. 

Supply Chain Management Course

Supply Chain Management is a course that is very much in trend these days. In this dynamic, ever-changing industry, businesses require huge teams with adequate supply knowledge to help and guide them in this process for a company to emerge successful. 

Several courses provide certifications for supply chain professionals, but they are not always legitimate or helpful in improving your skill set or providing you with proper training. The best supply chain management course with analytics is provided by Imarticus. Their professional certification in supply chain management and analytics is in collaboration with IIT Roorkee.

This program provides you with live classes by top professionals and industry experts, hands-on learning experience with real-life supply chain management project work, and an IIT Roorkee alumni status. This certificate course will help you gain relevant skills and will help you take data-driven decisions at strategic levels. It helps you with impressive learning and project portfolios that will help you in the placement process. If you want to enrol in a supply chain management course, this is it. 

Conclusion

A Supply Chain Analyst is a profession that has been rapidly evolving in the last few years. It deals with the most important aspect of a business — demand, and supply.  One needs to take up a proper course to know the trends and dynamics of it to be able to contribute to the growth of an organisation. The right course will provide you with the accurate skill set and proper training, making you lucrative to recruiters. Supply Chain Management is not as easy as it looks and requires one to take decisions that could make or break a business, so it is advisable to take the required guidance before you step in.