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2021 in review: Principles of successful supply chain planning

Posted on by Imarticus Learning

2021 in Review: Principles of Successful Supply Chain Planning

The supply chain is one of the most important aspects of any business. Keeping up with the market’s ever-changing demands is quite challenging, but you can stay ahead of the competition with the correct planning principles. 

This blog post will examine the essential principles of successful supply chain planning and discuss how they can help your business succeed in 2022 and beyond!

What are the principles of supply chain planning?

The key to supply chain planning is having a solid knowledge base about your industry and its needs. It includes understanding how products move through different stages from production to consumption, what consumers want or need to purchase goods, and where they will sell those products. 

With this information, you can create strategies to help your business achieve its goals while meeting customer demands regarding quality and cost-effectiveness.

The principles of supply chain planning include:

  • Forecasting – This helps estimate the demand for a product over time based on historical data or current trends within an industry. Forecasts indicate future demand levels and help businesses plan their operations accordingly.
  • Resource Analysis- This determines the resources necessary for production processes and other supply chain-related activities. These may include raw materials, labor costs, or even labor hours per employee per day.
  • Production Planning – This creates a production schedule that meets customer demand while efficiently utilizing resources. It also includes setting up processes and protocols for quality control.
  • Distribution and Transportation Planning – This determines how you will transport products to meet consumer demand, taking into factors such as delivery time, distance, and the availability of resources. It also includes creating a distribution network that will optimize efficiency.

 

  • Inventory Management – This ensures that the correct inventory level gets maintained without tying up excessive capital in stock. It can also help reduce the cost of merchandise while maximizing customer satisfaction.

 How to apply these principles in your own business?

There are many ways to apply these principles to your own business. For example, by using data from previous years and looking at current trends, companies can make better decisions about future demand for their products or services. By understanding resource availability, businesses can plan production schedules accordingly to avoid running out of stock before consumers need it.

Additionally, by using inventory management techniques, companies can ensure that they are not overstocking or understocking products and lose out on potential sales.

Supply chain principles are essential for any business looking to succeed in the ever-changing marketplace. 

Explore Supply Chain Management Course with Imarticus Learning

This Professional Certification in Supply Chain Management and Analytics equips candidates interested in entering the operations or supply chain analytics course with cutting-edge experience. This supply chain analytics course will prepare students for jobs such as Demand Planner, Data Scientist, Supply Planner, and Supply and Operations Planner, which are in great demand.

 

Course Benefits For Learners:

  • We immerse students in in-demand technologies and projects, including six real-world projects that will give them a complete grasp of the industry to prepare them for a satisfying future in Supply Chain Management and Analytics.
  • Students who complete a supply chain management online course will prepare for competitive careers such as Demand Planner or Data Scientist, which are in great demand among companies today!
  • This supply chain management and analytics training course will help students become more data-centric and improve Supply Chain decision-making by harnessing the power of Python.

Contact us through chat support, or drive to one of our training centres in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, and Gurgaon. 

Overcoming privacy challenges in supply chain planning

Posted on by Imarticus Learning

Introduction

Supply Chain Planning is a crucial step in the supply chain management process. When you plan the several factors that can affect your supply chain process, you need to consider the privacy concerns that may arise out of it. Preserving any data involved in the supply chain planning process is crucial, and you should take all the necessary actions to ensure that privacy is maintained.

If you aspire to have a career in supply chain management, you can take up a supply chain analytics course to understand how privacy can be maintained in the entire process. 

A supply chain analytics certification will help you understand the privacy concerns but will also aid in understanding the entire supply chain division with both the advanced and the basic concepts. 

Ways in which privacy challenges can be tackled 

There are several ways to overcome the privacy concerns you might face while supply chain planning. Some of these ways are:

 

  • Go Digital

 

Switching from traditional processes and technology like fax, phone, and email is slow but necessary. Your organization establishes secure data transfer within your group and external trading partners, suppliers, and customers by upgrading to contemporary technologies.

Updating your software and procedures offers you access to data security methods such as:

  • Encryption
  • Tokenization
  • Monitors and alarms for file access
  • Preventing data loss.

You can train your people on how fraud can be prevented by using a digital system and how cybersecurity risks can be reduced if the company’s focus shifts to the digital growth and digitization of the entire supply chain process.

 

  • Encryption and Identification of Data

 

The National Institute of Standards and Technology (NIST) recommends businesses build defenses on the assumption that a breach would occur. As a result, you must protect all forms of data you store or communicate. You can utilize discovery tools to locate and classify files holding confidential information, financial data, or personally identifiable information. 

With this comprehensive view of all your data, you can implement current encryption standards to safeguard your most precious assets. As firms become increasingly reliant on online transactions, enhanced controls such as digital signatures, session breaks, and multi-factor authentication can help to strengthen supply chain security.

 

  • Risk Management through third-party

 

More and more organizations in the supply chain are collaborating to store, transport, and use data. This necessitates more comprehensive risk management, including end-to-end security.

Shared risk assessment among stakeholders is the foundation of effective third-party risk management. You’ll need to break down barriers between your technical and business teams, as well as enlist the help of vendors and partners. You can protect the supply chain’s most valuable assets by banding together. After that, you can determine the extent of any potential operational damage. If data is poorly managed, compliance issues, or any data breach, interference would be required immediately.

Conclusion

We at Imarticus aim to provide the best courses that help make all the students seasoned industry experts. You can enroll yourself in the Professional Certification in Supply Chain Management and Analytics by IIT Roorkee and Imarticus learning. This course in the SCM domain will make you ready for all the challenges that you will come across in the supply chain industry. 

Also, with a certification in supply chain management, you can get into high-paying jobs where you can prove to your recruiters that you are trained to work in the industry. Handling privacy issues is vital in the supply chain industry, and a course will help you understand and manage these issues. Enroll in this course today and reap all the benefits that the course has to offer.

What competitive advantages can be achieved through integration, automation and big data in supply chain management

Posted on by Imarticus Learning

The need for Supply Chain Management (SCM) integration, automation, and big data are increasing rapidly. In order to stay competitive in the marketplace, it’s imperative that organizations have a strong SCM strategy in place. The benefits of integrating these three technologies are enormous – from efficiency gains to cost reductions to improved customer satisfaction.

With a single view across all supply chain activities, teams can make informed decisions about capacity utilization and inventory levels. They can also identify new opportunities for growth while identifying potential risks ahead of time.  

The benefits of integrating the three technologies go beyond SCM

  • Integration reduces complexity and downtime in manufacturing plants by applying automation to key business processes such as Supply Chain planning and scheduling. This enables organizations to achieve higher levels of performance with less human intervention – leading to greater efficiency throughout the entire enterprise. 
  • Automated systems can reduce errors and improve productivity while also freeing up employees’ time for more valuable activities like research and development or customer service initiatives. 
  • Big data offers a treasure trove of opportunities that enterprises are just beginning to tap into today. In addition to providing new insights on sales trends from across the supply chain network, big data analytics lets companies gain critical knowledge about their customers, which they can then use towards improving product development and marketing strategies.

Big Data Analytics, Supply Chain Integration, and Automation are three technologies that can’t be ignored in today’s competitive marketplace. By integrating these technologies together within a single platform or solution to achieve seamless supply chain collaboration across an enterprise, people not only realize numerous benefits of the Supply chain Management course – but they’re able to create new business opportunities that will set them apart from their competitors now and into the future.

Some Other Benefits Listed!

– More efficient utilization of resources (inventory levels) within organizations throughout the value chain network.

– Better understanding customers’ needs which allows for improved product development/marketing strategies as well as better service delivery through channels like social media etc…

– Competitive advantages via increased efficiency along with shorter lead times resulting in greater customer satisfaction.

– Ability to identify new opportunities for growth which help organizations stay ahead of the competition now and into the future.

In addition, integrating automation within supply chain management systems allows companies to realize operational benefits such as:

– Improved throughput/performance levels through reduced error rates due to lowest cost staffing models that provide minimal human intervention across all processes.

– Reduced downtime resulting in continuous operations with increased capacity utilization along with lower fixed costs per unit produced etc…

Finally, big data analytics provides a treasure trove of business insights by giving enterprises access to a wide variety of customer information from throughout their value chains. This data can then be mined for critical knowledge about existing customers and prospects who may not have been considered or targeted before now, which can then be used to improve product development and marketing strategies.

Boost Your Supply Chain Management Career with Imarticus Learning

At Imarticus Learning, supply chain aspirants can make their supply chain management career with the 6-months program that is uniquely designed by IIT faculty and industry leaders. With the ever-increasing trend of e-commerce, the amount of movement of goods has been ever-increasing. There has been a top-heavy jump in the number of jobs for SCM across industries.

Course USPs:

  • Cutting-edge curriculum and certification from e-learning Centre, IIT Roorkee
  • Experiential learning & impressive project portfolio
  • SCM and analytics – a power couple
  • Learn through real-life industry projects.

For further details, contact us through the Live Chat Support system or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, and Gurgaon.