IIT Roorkee: Changing The Face of The Supply Chain Management Industry in 2022

Supply Chain Management (SCM) is sequentially connected activities that aim to fulfil the demand (product or service) of a client. There are several stakeholders in this process, namely the vendors, manufacturers, whole-sellers, dealers and retailers. All these stakeholders are connected by the most important stakeholder, who is the Logistics Partner. Supply chain management activities essentially involve the flow of information and product or services through several complex networking.

How to Get Started in This Career?

After completing the UG course in any field, a prospective candidate may enrol himself/herself in a reputed institute. These renowned institutions will pave the path to an excellent supply chain management career. They also provide certifications for supply chain professionals. A prospective candidate must possess the basic aptitude for learning business processes and preferably should have mathematics as one of the subjects in the UG course. Business management, institutional behaviour and management principles, corporate communication, human resource management, statistics and economics are the core subjects that are to be taught in the post-graduate diploma certification courses for supply chain management. 

Several elective subjects are also available to choose from. These include principles of supply chain management and logistics, product and brand management, inventory and warehouse management and international trade and operations.

The Changing Face of Supply Chain Management 

Nowadays, clients have become more demanding than ever, both in terms of quality and promptness in service. To get these on the table, they are even ready to pay a reasonable premium. The spree of purchasing, particularly in the retail sector, has gone up considerably. The purchasing power of an average Indian in a middle-class family has also increased. The supplier-customer relationship in 2022 is not the same as it was a decade back. The concept of supply chain management has transformed enormously throughout the past decade. Previously, the general idea was to consider it as a mere procurement department. In today’s world, supply chain management has taken over marketing or business management, which organisations practised lately a decade back.  

The pandemic has changed our lives forever. Though online shopping was already practised earlier, it became multi-fold during and after the pandemic era. Nowadays, with the introduction of data science and artificial intelligence into the operating system, the organisation gets rated for the product or service it sells. Such ratings depend not only on the quality of the product but also on its payment process, packaging, delivery time and return policy among other points. All these processes are essentially part and parcel of supply chain management. These ratings by customers become a guiding manual for prospective clients, who wish to go for the same or similar products or services. Thus, sellers cannot remain complacent by only maintaining the quality of the product through stringent checks on their vendors; but also, they should have strong and efficient supply chain management and logistics networking so that they may score high in the rating procedure. In fact, in today’s time, those companies are perceived in a good light whose supply chain management is up to the mark.   

New Challenges

There is no denying that the changing demand of customers has paved the way for the rapid transformation of supply chain management and added to its growth trajectory in a significant way. However, all these do not come without their set of challenges, which are new and dynamic, as well. The organisation sometimes fails to make it to a win-win situation in spite of having the best vendors with a strong operation and logistics team. The devil to this effect is the lack of seamless coordination between the different stakeholders in the whole process. Communication within the planning and execution departments within the same organisation gets tricky at times and results in poor results at the bottom line. The correct inventory management by the manufacturers is also a high-risk affair. The inventory should not be too high so that it keeps waiting for a long time to find a taker. It should not also be too low so that a prospective client is directed towards a competitor. De-risking hazards and price volatility are genuine concerns for organisations. 

The Way Ahead

In order to take stock of the situation, organisations must make good use of the history data or past feedback information efficiently to plan their inventory, both for the raw material and the finished goods. Through these data, the organisation may also record the pattern change in demand. So, they may even decide to discontinue a product or a service that the clients do not wish to have anymore.  

Conclusion

As a profession, supply chain management aspirants may surely expect a rewarding career and sustainable growth in the long term. Candidates may even choose to be a Business Analyst and support the overall supply chain management system. The IIT Roorkee supply chain management course at Imarticus is an online course. This course will help you to make a successful career in this field. 

Here are some strategies for using social media in supply chain management

Social media is no longer just a fad. It’s here to stay and to help you connect with your customers and build relationships with them. In this post, we’ll discuss how you can use social media in supply chain management—and why it should be a part of your daily routine.

Use analytics to integrate social media into supply chain management.

Social media is a vital part of the supply chain management workflow. You can use analytics to help you determine what is working and what is not to keep improving your social media strategy.

• Find out which of your customers are interested in trending topics, brands, and products. 
• Use analytics tools to see how much time people spend looking at each post on Facebook or Twitter (and, therefore, how many views they get). 

Use social media to gather information about the market and your customers.

Social media can gather information about the market and your customers. You can find out what they want, what they think about your brand, and how they feel about your competitors. Social media is also useful for finding out what people are saying in general about the industry as a whole.

Build a community around your brand.

You can use Social media to build a community around your brand by posting engaging content on social media platforms. This helps build awareness of your company and engage potential clients or customers who may not know about it yet. 

Avoid focusing too heavily on one platform.

One of the essential aspects of social media is how many people you reach and how much time they spend on your site. If a person visits your site and doesn’t see any content related to their interests, they will leave. Using multiple platforms is essential so that if one doesn’t work out, another will!

Listen and respond to feedback, but remember that you can’t please everyone.

You can’t please everyone, but you can listen to their concerns and address them as best. Remember that it’s your job to provide a good customer experience, so make sure your responses are polite and professional.

Supply chain management professionals should know how to harness this power for their benefit—by using social media effectively in all aspects of their work. Social media is an essential tool for every professional in every field today. 

Explore a Career in Supply Chain Management with Imarticus Learning

The best supply chain certification course will help managers make strategic, operational, and tactical decisions. Prepare to contribute to the development of more tactical and inventive global supply chains in the future by combining traditional supply chain online courses with data-driven decision-making.

 Course Benefits For Learners:

• Students are exposed to essential technologies, including six real-world projects, to thoroughly understand the industry and prepare them for a successful career.
• Completing the IIT supply chain analyst course allows students to prepare for highly sought-after jobs such as demand planners or data scientists!
• Python will teach students how to be data-centric and improve supply chain decision-making.

Contact us through chat support, or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

How supply chain analytics are enabling organisations to become more efficient

With the growing competition in the market every organisation tries to enhance their company’s effectiveness to its maximum potential. Supply chain analytics enables organisations to strategise their business and carry out predictive planning that could benefit their sales and bring in maximum profit. In this article, we will explore how supply chain analytics benefits companies and why you should choose a career as a supply chain analyst.

What is Supply Chain Analytics?

The work of supply chain analytics is to produce insights, recognise patterns, and assess the information provided by the supply chains. This information or data is extracted from the supply chain execution systems and the management of inventory, order, warehouse and transport. 

Here’s a brief account of the four basic supply chain analytics that enables organisations to build more profitable operations to increase their efficiency:

• Descriptive analytics 

This assists in providing visibility to the suppliers and analyses the past sales data extracted from both the internal and external supply chain execution systems. This enables the suppliers and all the other sales channels to draw comparisons through the historical data and recognise the changes in the present status of the sale and understand the reasons causing them.

• Predictive analytics 

Predictive Analytics enables companies to analyse future events and their possible impact on the business. This helps the companies to eliminate risks and prepare effective plans and strategies to deal with any disruptions in the future and act accordingly.

• Prescriptive analytics 

This takes into account the outcomes of both Descriptive and Predictive Analytics and puts forward suggestions that help the company mitigate any kind of disruptions. It provides better ways to tackle problems by interpreting the data of their own business activities along with their partners. 

Why choose a career as a Supply Chain Analyst?

A career in supply chain management is very steady and lucrative. It has a lot of opportunities and provides growth and employee satisfaction. The SCM Imarticus is a professional supply chain management online training platform 

Which provides various supply chain management certification course options that will help you learn all the know-how and open doors for you in the field of supply chain management.

Following are the ways in which Supply Chain Analytics benefits organisations and increases their efficiency:

Data transparency in the supply chain management

The supply chain analytics helps in improving data visibility for the organisations helping them in making informed decisions to enhance their supply efficiency and also analysing what went wrong in the business and how to improve their supply chain management system.

Mitigation of risks and other liabilities 

Supply Chain analytics analyses the potential risks in the future and also suggests ways to avoid those disruptions which help the companies to prepare themselves to tackle any challenges and liabilities associated with supply chain management. 

Cost-effective management

Supply chain analytics eliminates the manual tasks like accounting, data entry, or calculative works which were done by the human workforce. This helps in cutting down costs and also produces more accurate data and billing practices at the same time. 

Selection of better partners

Supply chain analytics provides information about the vendors, their way of handling the business and how relevant they are in the business. This helps the supply chain managers to select partners who are a good fit for the company and can increase its efficiency.

Demand prediction

Supply chain analytics predicts the growing trends in the market to ensure the meeting of the demands of the consumers. It helps the companies to determine what products should be stored as they can bring in more profits and what can be minimised.

Efficient flow Of products

Supply chain analytics ensures an effective flow of goods as it regulates every facet of the supply chain by using its tools and features. It also enables better communication in the supply chain which mitigates the issues of cost and improves the relationship between suppliers and customers.

Conclusion

Supply chain analytics has become one of the most essential elements in supply chain management and uses its technological infrastructure to increase efficiency in the supply chain. It helps in the profitable and accurate planning of sales, improvement in the risk and order management system, and brings in profits and consumer conversions at the same time. There are many supply chain management certification courses and supply chain management online training available that can help you build a profitable career in this field.

Why your supply chain model is likely to fail

When managing your supply chain, the hardest part is often figuring out the suitable model. What’s the best way to ensure you get what you need and when you need it? How do you get the most value out of your supplier relationships? 

These are tough questions that every business owner faces at some point in time, but they don’t have to be complicated. That’s because each business has its unique needs and circumstances. 

To be successful at any level, you need to have a good supply chain model. Therefore, understanding what makes up a successful supply chain system is essential.

Optimizing for efficiency

Supply chain optimization is a strategic function that helps you to get the most out of your resources. It’s also a competitive advantage, business enabler, and source of differentiation.

Supply chain optimization allows you to:

• Reduce cost (e.g., labor cost)
• Enhance margins (e.g., transportation costs)
• Improve quality (e.g., reducing waste through routing)

Viewing supply-chain management as a cost center

SCM is not just about cost reduction. It’s about optimizing the entire supply chain, from planning and forecasting to execution and delivery. If you view supply chain management as a departmental function, your organization will likely fail because it won’t have enough resources or personnel to run efficiently.

Suppose you want your business model to succeed over time. In that case, you need an integrated approach that includes everyone in your organization—from executives who manage budgets for products and services to frontline employees who deliver those goods or services.

Dismissing the importance of trust

The initial step in building a successful supply chain is to ensure that you have the right people in place. You will need to know who your suppliers are, what kind of product they produce, how reliably they can deliver it, and whether or not they will treat your customers well.

Not seeing your supply chain as a strategic asset

This can be a big problem because there are many ways in which improving supply chain performance can provide benefits beyond just cost savings and performance improvements:

• It will improve customer experience through faster delivery times or reduced returns rate (which leads to greater customer loyalty).
• It will make employees happier by giving them more time with customers, reducing anxiety about missing deadlines or changing orders as needed, and lowering stress levels for everyone involved!

The key takeaways are that each business needs to build a supply chain model based on its own unique needs and circumstances.

Explore a Career in Supply Chain Management with Imarticus Learning

The best supply chain management certification course will help managers make strategic, operational, and tactical decisions. Prepare to contribute to the development of more tactical and inventive global supply chains in the future by combining traditional supply chain online courses with data-driven decision-making.

 Course Benefits For Learners:

• Students are exposed to essential technologies, including six real-world projects, to thoroughly understand the industry and prepare them for a successful career.
• Completing a supply chain planning allows students to prepare for highly sought-after jobs such as demand planners or data scientists!
• Python will teach students how to be data-centric and improve supply chain decision-making.

Contact us through chat support, or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

7 reasons your supply chain career has not taken off

If you’ve worked in the supply chain industry for a while, you know there’s no shortage of career opportunities. But if you are new to the game, it can be hard to figure out where your next steps should be. This post will examine seven reasons why your supply chain career hasn’t started yet.

Reason #1: Lack of a supply chain career roadmap

A supply chain career roadmap lists all the steps you’ll need to take from your current job or career to your desired destination. It will include everything from where you should start looking for jobs, how to get your foot in the door at various organizations, what kind of training and education is vital for each step along the way, and how much time you’ll need to invest into learning new skills.

Reason #2: Lack of Supply Chain Analytics Training

Supply chain analytics are not just about inspecting data and making decisions based on it—they also help companies to improve their business processes by identifying opportunities for cost savings or revenue increases. In addition to this, they can help you identify potential issues before they become more significant problems down the road, which could result in better customer satisfaction scores as well as lower operating costs overall.

Reason #3: Lack of Supply Chain Analytics Tool experience

Supply chain analytics tools are a must-have for any supply chain professional, but they’re not something people learn in college. To succeed as a supply chain professional, you must know how to use these tools and understand their importance. 

Reason #4: Lack of Industry Experience

The fourth reason your supply chain career has not taken off is that you lack industry experience. As a recent graduate, it will take time for you to build up the necessary skills and knowledge to succeed in this field. 

Reason #5: Lack of Networking

When it comes to networkers, you must be willing to go the extra mile. While some people may be okay with just being friends on Facebook and LinkedIn, you need to get out there and meet people in person. 

Reason #6: Unclear Job Goals and Objectives

When setting goals and objectives, you should always start with a clear idea of what you want. This will help you focus on achieving these goals instead of being distracted by other tasks.

Reason #7: Excessive Reliance on Job Boards

The internet has revolutionized the means we search for jobs, but it has also made it easier to apply for more than one job at a time. This can be good news for your career aspirations if you’re looking for something that pays well and offers flexible hours. 

Discover Supply chain management courses with Imarticus Learning

Managers might use a supply chain analytics certification to make strategic, operational, and tactical decisions. By combining conventional supply chain online courses with data-driven decision-making, get ready to contribute to developing more tactical and inventive global supply chains in the future.

 Course Benefits For Learners:

• Students are exposed to significant technologies, including six real-world projects, to give them a thorough grasp of the industry and prepare them for a successful career.
• Learners may get ready for highly sought-after jobs like demand planners or data scientists by finishing a supply chain management and analytics degree!
• Python will teach aspirants to become data-centric and enhance supply chain decision-making.

Contact us through the chat support system, or drive to one of our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

Hiring Managers: Become a supply chain analyst with 5 characteristics

Supply chain specialists or analysts ensure that a company’s supply meets consumers’ demands. Their responsibilities include keeping a business on a budget, guaranteeing timely delivery, and overseeing the total supply chain operations of a business. They enhance the productivity of a company’s supply chain operations using data collection and analysis.

To become a supply chain analyst, one needs to have specific knowledge. That means the regular stream of study will not cut it. Following their graduation, one needs to complete a professional IIT Supply Chain Management Course. However, completing that course is not enough; a professional in this field must possess a few essential skills. Read on to learn about them.

5 Key Qualities of a Supply Chain Analyst 

Supply chain management involves integrating and overseeing processes where software, machines, and people all play a crucial role. Here is a list of the top essential characteristics required to become a supply chain analyst:

1. Strong communication skills

Communication skills and supply chain processes go hand-in-hand. That’s because supply chain managers communicate requirements to all channels, train staff, and lead others within a company’s supply chain. 

They need to interact through telephones, chat apps, texts, email, and in person. Thus, honing technical, verbal, and written communication skills will effectively serve their purpose. 

1. Data analysis 

They need to use and analyze data accurately for tracking demand, sales trends, shipments, and orders. They must be able to figure out the inefficiencies and weaknesses of the supply chain. Additionally, they should have excellent math skills to estimate savings and costs.  

1. Project management potential 

Whether they are trying to upgrade down-chain processes, maintain a smooth flow of operations, implement something new, or enhance a pre-existing supply chain, project management skills are a necessity. 

PMP education, understanding of Lean process management, and statistical process control will help them to reduce errors, increase efficiencies, cut costs, and improve the supply chain. Most project management procedures teach them to avoid impacting consumers negatively, causing morale problems, or burning out staff. 

1. Flexibility 

There are rules for successful supply chains, but solving problems does not always correspond to bookish knowledge. In simple words, they need to think out of the box, embrace change, and support those who bring innovations. This will positively impact productivity as well as other KPIs.   

1. Exceptional computer and software skills 

Nowadays, it is irrelevant to manage supply chains with primary spreadsheets & heads for figures. To keep the processes, products, and people in line, they require using competent software. 

New-age technologies such as the Internet of Things, machine learning & artificial intelligence are in demand. The potential to instantly understand the latest computer programs and learn how they blend with up-chain or down-chain systems is vital. 

Eligibility Criteria to Become a Supply Chain Analyst 

Wondering how to kick start your career in supply chain management? Following are the minimum eligibility terms for your reference:

• Bachelor’s degree in logistics, supply chain management, or a related subject 
• Strong analytics and data collection skills to upgrade product delivery, mitigate risks and identify trends
• Proficiency in mathematical analysis, SQL analysis tools, and spreadsheet applications 
• Knowledge of relational databases, ERP systems, and MS Office   
• Work experience of 1 to 2 years (preferable)  

Note that recruiters may give training to beginners on logistics management systems and in-house inventory to improve their skills. 

Summing it Up

The supply chain forms the centre of a business’s operations. Supply chain analysts are in charge of a product’s journey, starting from sourcing raw materials to making sure it satisfies consumers. They are the backbone of a company that engages in contract and financial management.

They are responsible for planning projects and building relationships with a solid knowledge of warehousing, transportation, and manufacturing. As such, recruiters prefer candidates having professional certifications in supply chain management, logistics, or related disciplines. So, increase your job opportunities with a noteworthy supply chain certification online from leading educational institutes like Imarticus. 

 

Why Gaining A Supply Chain Certification From IIT Is Different

It’s the dream of millions of Indians to study at IIT and experience its legacy of excellence. Interestingly, today, one need not be an engineering graduate to do that. Innovation and technology have revolutionized almost every discipline, and one that is highly impacted is Supply Chain Management (SCM). By pursuing a cutting-edge online supply chain certification course offered by IIT Roorkee, ambitious professionals can build in-demand industry skills and fast-track their career growth to the next level. 

Evolution of the supply chain

The cloud has completely transformed the modern supply chain. The accelerated growth of eCommerce, higher consumer expectations, shift to data-driven decision-making, and challenges in procuring raw materials have collectively influenced how SCM is practiced. These shifts have led to a disproportionate jump in the number of SCM jobs available across sectors and to an expansion of roles across the industry. 

Today one can choose from an array of Supply Chain Management Careers. One can become a Supply Planning Analyst, Data Scientist, Demand Planner, Procurement Specialist, Data Analyst, Supply And Operations Planner,  Quality Assurance Manager, and Logistics Manager. 

Aspiring supply chain management professionals need to invest in training that empowers them to succeed in their chosen career path. 

Build the skills of the future 

A modern SCM course, backed by an IIT faculty, curriculum, and certification, equips professionals to build skills. They can also get a taste of hands-on learning as they work on real-world SCM projects. For example, understanding how to leverage analytics through technologies such as Python gives SCM professionals the tools to improve efficiency, apply real-time insights to their outcomes, and innovate the supply chain in line with their business goals. Data-centric professionals are more likely to make superior decisions and directly impact their work and the profitability of the business. 

An industry-focused program 

An industry-focused curriculum helps you get exposure to core SCM concepts. It also enables hands-on learning of SCM processes, tools, and techniques. You will get exposure to core subjects such as supply chain performance, drivers and metrics, how to design the supply chain, planning demand and supply, improving supply chain profitability, and driving sales and operations. Some emerging subjects, such as handling uncertainties as well as leveraging technology to predict demand, are growing focus areas in the curriculum and the industry. Another important aspect is the entire placement process, which includes services such as resume building, job interview prep, and placement opportunities. This is especially important as you take the plunge into a whole new industry.  

The IIT Edge  

By opting for a superior 6-month SCM course, professionals can experience live sessions by IIT faculty, one of the best faculties in the world, and seasoned industry experts from the SCM field. You also get a unique opportunity to participate in a campus immersion module hosted at an IIT campus. Here you get to engage with peers and faculty and work on a capstone project under the guidance of professional mentors. At the end of the program, you get a certificate from the prestigious IIT. 

Work and learn! 

Today, you can pursue an online Supply Chain Certification Course, which allows you to work and learn simultaneously. You can access on-demand content via your smartphone or smart device from anywhere and learn as per your schedule. The byte-sized mix of video content, blogs, assignments, live sessions, and assessments make learning an engaging, interactive experience. Another benefit of a modern SCM course is mentorship. A mentor, backed with years of hands-on  SCM experience and industry-savviness, doubles up as a motivational guide and thought partner throughout the program. Your mentor also has the potential to value-add to your network throughout your professional career. 

Grow your network

Professional success is a measure of your skills and talent and your ability to nurture successful relationships in the industry. As they say, your network is your net worth! An IIT-certified SCM course gives you access to seasoned faculty and industry leaders from IIT’s network. You also have the opportunity to engage with peers looking to pursue growth in the field of your interest. In the future, they will become part of your professional network, not to mention the wide spectrum of IIT alumni who are already well-placed in the industry.   

Fuel career growth

Today, the digital supply chain model, which leverages AI, delivery automation, and blockchain, is a dynamic field. An IIT-backed SCM course equips you with the tools, experience, and network to excel and make your mark in this field.

To know more about online programs that can fuel your career growth, connect with us through chat support or drive down to our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, and Delhi. 

Learn to tackle supply chain issues with tools like digital inventory management with an IIT supply chain management course

It’s essential to understand supply chain management in the business world. This is especially true if you want to start or expand your business. Even if you already have a grasp of the concept, it’s crucial to stay up-to-date on the latest tools and technologies that can help improve your supply chain. That’s where an IIT supply chain management course comes in! In 2022, you will be able to take an online course that will teach you everything you need to know about managing your company’s supply chain.

What is digital inventory management, and how does it work?

Digital inventory management is a system that helps businesses keep track of their inventory using computerized methods. This can include barcodes, RFID tags, and other tracking technologies. By keeping track of inventory digitally, businesses can save time and money while reducing errors.

There are many benefits to using digital inventory management, including:

• Reduced time spent on inventory management
• Increased accuracy of inventory data
• Easier to track and manage inventory levels
• Reduced costs associated with inventory management

If you’re interested in learning more about digital inventory management, consider taking an IIT supply chain management course. This course can help you understand the skills you need to manage inventory using digital tools effectively. You can help your business run smoothly and efficiently with the proper training. 

How do we tackle common supply chain issues with the help of digital inventory management?

Supply chain management can be a complex and daunting task for many businesses. There are many moving parts involved, and if any one of them goes wrong, it can have a domino effect that disrupts the entire system.

One of the most critical aspects of supply chain management is inventory management. This ensures that enough raw materials and finished products are available to meet customer demand.

Digital inventory management is a tool that can help businesses keep track of their inventory levels in real-time. You can then use this information to make decisions about production, purchasing, and other aspects of the supply chain.

IIT’s Supply Chain Management course will teach you how to use digital inventory management to tackle common supply chain issues. The course is for business professionals who want to learn more about this vital aspect of the business.

If you wish to learn how to use digital inventory management to improve your business, sign up for IIT’s Supply Chain Management course today!

Discover Professional certification in supply chain management with Imarticus Learning

The online supply chain management course provides cutting-edge information to those interested in taking the operations or supply chain analytics course. Students who enroll in this online supply chain management program will learn about Demand Planner, Data Scientist job titles.

Course Benefits For Learners:

• We immerse students in relevant technologies and projects, such as six real-world projects that will give them a solid understanding of the sector to prepare them for a successful future as certified Supply Chain analysts. 
• Students who finish a supply chain management online course can prepare for highly sought-after professions such as Demand Planner or Data Scientist, which are in high demand among businesses today! 
• Students will learn to become data-centric and improve Supply Chain decision-making by utilizing the Python programming language.