Contact Us
×

Tag: supply chain management and analytics course by IIT Roorkee

Should we reconcile forecasts to align supply chain management and analytics?

Posted on by Imarticus Learning

One of the biggest perks of analytics in supply chain management is its utilisation of the demand forecast. Managers at different levels of the supply chain may be using it for different purposes. The common factor is that they all use the data for making some sort of decision.

One could say that the supply chain management career will require you to make a lot of decisions based on the various data available at any given time. Decisions of different levels may be based on the same set of data or entirely different ones as well. 

One must think about whether or not to align multiple levels using the forecasts. So the question here is, will it be wise to use a unified forecast across all levels?

Unified forecast in Supply Chain Management (SCM)

The technological advancements have made it easier to unify the various sections or levels in the SCM and send a common forecast for all. But, it is the only easy path here as there are more challenges ahead for such a decision to be successful. The main challenges here are, 

  • Efficiency: It is going to be a tedious process to repeat the same process every month for the specified period.  
  • Optimality: The optimal model that is successful for one product or material may not be at the same level for another product, even for the same company. 
  • Alignment: Aligning the forecast and aligning the performance may not be the same. Even with a unified forecast, the outcome of different departments may be different so it is not advisable to take such a move. 

So, the answer to the question is, it is not advisable to align the forecast in a supply chain system. But what you can do is to provide the data in a single platform where it is accessible for all levels. This way a lot of fragmentation could be prevented. This is where a skilled supply chain manager comes into play. 

Importance of Supply Chain Management & Analytics

These days businesses rely on data to come with better plans for their future. The supply chain uses the massive data generated through its operations on a daily basis. The SCM system and analytics can use this data to predict future trends so that the companies can optimize their production or increase their sales. 

Opting for a supply chain management course with analytics will give you a clear idea about the various processes involved in these operations. The designing of the distribution network, planning, and coordination, etc are some of the topics that are included in such courses. 

The Professional certification in Supply Chain Management & Analytics course here at Imarticus is in collaboration with IIT Roorkee. The course offers live sessions, discussions, assignments, assessments, and a capstone project that will award a certificate after successful completion. You will receive career support with the guidance of experts. The career options ahead include the Supply Planning Analyst, Procurement Specialist, Supply And Operations Planner, Quality Assurance Manager, Logistics Manager, etc. 

Conclusion

Completing a course in SCM will enable you to see and make appropriate decisions based on the analytics. A smart manager will be able to run the show for any given period and will be able to adjust the decisions at crucial points, without compromising the competitive advantage. It is all about balancing the supply and demand so that neither of these is above or below the other. 

Develop the skills to become a supply chain analyst

Posted on by Imarticus Learning

Supply chain analysts are a key part of any business hoping to reach excellence in their operations. They develop efficient logistical methods by analyzing and supervising all the processes related to the supply chain management of a company.

Be it demand, cost, transportation, or even productivity, they have their thumbs into everything. This is why supply chain analysts are very high in demand. And, it needs specific requirements or eligibility to become supply chain analysts. In fact, if studies are to be believed the positions are only going to grow in numbers in the coming year. 

Considering this, it is the perfect time to do a course in supply chain management if you are looking for potential career scopes. There are lots of institutes in India that offer comprehensive courses in this domain. And, Imarticus Learnings has a cover-all, supply chain management course that will help you to learn all the desired skills you need to ace your career. You will also get excellent exposure which will put you in a league of your own.

Now, let us take a look at what this job entails and the skills that are required for a career as a supply chain analyst. 

Supply Chain Analyst: Job Description, Estimated Salary, and Prospects

The job market is supposed to grow about 5%, opening about 8,400 job opportunities across the United States. On a global scale, this number increases a lot more. As a starting salary, people can expect about $45,800. With years of experience, it can grow up to about $116,600 and the average annual salary stands at about $74,400.

As we stated before, this profile of supply chain analysts is high in demand and demanding as well. There are lots of things you need to do to fit into the job description. However, there are three major things that you need to be able to do. And, these are as follows:

 

  • Data analysis: Your job is to look for where the inefficiencies in the chain system lie and address them proficiently. The underperforming areas can be anything including productivity issues, changes in demands, delivery issues, weather problems, and so on. You need to be capable enough to find quick solutions for these problems. A lot of experts use professional tools like relational database management systems to analyze data in a faster and smoother way.

 

 

  • Improvement suggestions: This is one of the most important aspects of the job. After recognizing and addressing the concerns, you also need to put in suggestions that will help improve the plans and the system as a whole. During monthly sales and operations meetings, you will need to offer suggestions to the executives for a smoother experience all around.

 

 

  • Collaborate with different units: You will need to interact with employees across different units to come up with a plan that works for everyone. Based on the plan, the interactions then pan out to the vendors and even customers to negotiate proper deals and address their concerns. 

 

Skills you Need to Ace

Here is a list of skills that enhances your eligibility to become a supply chain analyst. 

  • Mathematical analytics
  • Analyzing big data samples quickly
  • Inventory management
  • Making educated predictions and plans
  • IT skills
  • Interpersonal connection skills

This is a tremendous career option for people who are looking for stable careers. Check out Imarticus Learnings’  supply chain management course by IIT Roorkee to gear up for your career as a supply chain analyst.