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Tag: supply chain management and analytics course

Supply chain management and analytics digitization: Cloud computing and predictive analysis

Posted on by Imarticus Learning

We are currently living in the era of digitization. From our daily life needs to education to retail to corporate, everything is taking to it pretty fast. Supply chain management too is a sector that has recently started integrating its essential business aspects with technology. The main reason for that is how easy it makes the process of collecting big data and silo breakdown in the supply chain. 

This is why it might be the best time to pursue a course on supply chain management if you are thinking of career prospects for a better future. As always, Imarticus Learnings has come through with its Supply Chain Management online course. It will not only provide you with amazing exposure but also put you, leagues, beyond your peers. 

Here, in this article, we are going to elaborate further on what is digitalization in supply chain management? What is predictive supply chain analytics? and how it can reinvent the whole process for a better outcome. Please go through the whole article to learn more.

How cloud computing and predictive analytics can change the supply change management process?

Service and product life cycles are getting shorter and shorter. This is what basically is pushing businesses towards cloud computing and predictive analytical solutions across industries. Cloud computing provides immediate insights and better responsiveness and predictive analytics helps to predict future issues and any changes that can come into the supply or demand cycle. This essentially answers, what is digitalization in supply chain management and what is predictive supply chain analytics. Now, we take a look at the benefits that come with it.

The benefits of cloud computing

There are obviously some major benefits to this process which as of now are not found anywhere else. The benefits are, as follows:

  • Cloud computing provides immediate insights into all the issues that can affect the chain directly. This, in turn, helps the managers to address the issues quickly and effectively. It also improves collaboration across all the sectors that come into play in the process. 
  • Once all the aspects are tied in the loop, predictive analytics will help the decision-makers with quick insights. With the help of ML and advanced statistical algorithms, it can help process big data to predict a likely outcome for the future. This includes all kinds of variables that have been gathered from different sources. 
  • Cloud computing also enables you to seamlessly add in different parties as needed at a moment’s notice. You can also adjust the provisions in this system immediately to fit the constant changes in demands or market trends. 
  • Digitalization will help to plan and execute things faster. This is supported by in-memory computing and big data analytics. This way you can improve your responsiveness to things that need immediate attention.

Best suited supply chain processes for cloud computing

There are some supply chain processes that are best suited for the cloud format, such as:

  • Sourcing and procurement: SaaS tools are best suited to create a collaborative format. 
  • Logistics: from inventory management, replenishment planning to world trade compliance, every process here can easily be turned cloud-based.
  • Manufacturing: this again can be cloudified very easily.
  • Planning and Forecasting: predictive analytics is evolving to offer better planning and forecasting options.

Conclusion

Supply chain management is evolving constantly. This is why it has opened a new horizon of job prospects. Check out Imarticus Learnings’ Supply Chain Management online course to gear up for it and give your career the spark it needs.

5 tips for supply chain management and analytics in the age of AI

Posted on by Imarticus Learning

Undergoing supply chain management training is a prominent goal of several in the management industry. To become a supply chain analyst, one must complete a certification course. There are various certifications for supply chain professionals, available online. While pursuing this career one must understand how the SCM works in this new age of AI. 

Nowadays, AI is an integral part of the competitive market. Businesses are constantly increasing their profit margin using AI. The supply chain market is volatile with the change in several factors and using AI businesses can keep up with the changes and make necessary changes in their system as needed. 

There are several ways in which AI helps in supply chain management (SCM). One of the most prominent methods it adopts is to analyze the available data, both internal and external. Here are some tips for supply chain management in this AI era.  

 

  • Plan for the IoT Data

 

The various data applications in the supply chain make up one-third of the total IoT data. So it needs proper planning to collect, integrate and utilize it. Since the volume of data is ever-increasing, it needs proper tools to manage it effectively and AI comes in as the best option. It can handle data collection of any volume and streamline it properly. 

While doing so, make sure to bring in variety with the data so that it can help with unprecedented methods and ways that detect any anomalies or disruptions in the SCM system. 

 

  • Make use of external data

 

In supply chain management, the volume of internal data itself can be vast. When using AI, one must also think outside the box and bring in outside data such as the local weather, customer reviews from external sources, vendor details, details about the competitor, etc to have a comprehensive database. 

 

  • Increase reactivity faster with AI

 

AI helps achieve a competitive edge in terms of responsiveness to any issues. It can detect problems and create alerts to take necessary preventive steps or find alternatives. 

 

  • Prioritize root cause analysis

 

AI is an effective tool in detecting issues and finding the root cause of the said problem. It can save time by early detection and gives an unbiased analysis of the root cause. 

 

  • Automation in the management system

 

AI can automate the various steps involved in SCM. It can automate administrative jobs, shipment updates, warehouse management, route planning, quality control, and shipping processes. The collective efforts can improve overall customer satisfaction or supplier selection. 

What do you need to study to become a supply chain analyst?

Supply Chain Management is a popular career option and many are eager to become supply chain analysts. But, what do you need to study to become a supply chain analyst? It requires you to get some kind of supply chain management training. 

Supply Chain Management Certification Course

Though a bachelor’s degree seems to be the basic qualification mark, having a master’s degree is an added advantage. To become an analyst one must take certification courses in the form of Professional Certification In Supply Chain Management & Analytics that provide expert guidance and job placement assistance. 

Conclusion

The popular AI-assisted processes in supply chain management are GPS tracking of the shipment for both the company and customer, regular weather updates to help the shipping industry plan their shipments, keeping inventory to help with warehouse management, etc. Depending on AI has helped businesses to reduce their cost, customize their products, and reach more customers with better customer satisfaction. 

How supply chain snags affect global economic growth

Posted on by Imarticus Learning

The global economy depends on supply chains that have networks running across continents. This is why any issue with the supply chain can directly affect economic growth. If you learn SCM, you will notice that most of the time, supply chain snags occur due to issues with the management. Now, you can ensure that they have a positive impact on economic growth. To do this, you will have to opt for a supply chain management course. 

How Can Supply Chain Snags Affect the Global Economy?

Since supply chains are vital for most businesses, any management issue can harm economic growth. Those who opt for a supply chain management career need to be aware of the snags that can affect the global economy. 

  • Fluctuations in Customer Demand

Supply chains often depend on the demands of the customers. But due to various external factors, these demands can fall. When this happens, excess products go to waste. However, at times, customer demands can increase rapidly. If supply chains are not optimized enough to handle such a spike, there will be utter chaos. This can lead to limited products, improper pricing, and issues with the delivery of goods. If global supply chains are unable to meet demands, the economy is bound to suffer. 

  • Shortage of Workforce

While you can optimize several aspects of the supply chain, a human workforce is necessary. A shortage of workforce means less production or a slow-moving supply chain. If the supply chain gets held up due to inevitable glitches, many might quit due to extended periods of no work. When the supply chain starts working again, there will be an inadequate workforce to handle the pressure. This snag can adversely affect economic growth, particularly when production slows down or the delivery of goods stops. 

 

  • Increase of Freight Rates

 

Since supply chains are closely related to the global economy, snags may increase freight charges. If shipping routes, particularly for global supply chains, are disrupted, the freight rates will increase rapidly. When businesses cannot pay the costs, that particular link in the supply chain will stop functioning.  

  • A Slowdown of Industrial Activity

A snag in a supply chain can slow down activity in an entire industry. If one part of the supply chain does not move forward, the rest cannot follow. The economy will suffer as vast quantities of raw material go to waste, and the labour force reduces due to certain issues with managing a specific supply chain. 

  • Bottlenecks in Manufacturing and Production

Supply chain bottlenecks can occur anytime, primarily if the supply chain is not being appropriately managed. If there is a supply bottleneck, then manufacturing will be affected. While this affects the availability of products, it can also affect the earnings of those involved in the production stages. 

To understand how an aspect of the global economy is dependent on supply chains, you need to gain extensive knowledge. Learning supply chain planning can help you build the required skills. 

Supply Chain Management for Sustained Economic Growth

Supply chains, when appropriately managed, can contribute to economic growth and even maintain it. To learn about sustainable supply chains, you can opt for a supply chain management course. Imarticus Learning offers Professional Certification in Supply Chain Management and Analytics. This program is in collaboration with IIT Roorkee, DoMs, and E-Learning Centre.

The institute also has various industry experts collaborating to create a well-rounded curriculum. Imarticus Learning ensures that students can understand supply chain management from a strategic and operational viewpoint. This will help you establish a rewarding supply chain management career. 

The course offered by Imarticus Learning includes supply chain planning and prepares you for the industry through six projects. These are all based on real situations, and you can develop the experience necessary to become a successful supply chain manager. You can also opt for a job in data science, demand planning, or supply and operations planning. 

Discover the critical facets of supply chain management and analytics with this certification

Posted on by Imarticus Learning

Supply chain management and analytics is a rapidly growing field that requires the expertise of both supply chain managers and data analysts. The advanced skill set needed to succeed in this profession means that certification can be an excellent way to build your career and improve your chances for advancement.

In this article, we will explore some of the critical facets of supply chain management and analytics with a focus on certification and how it can help you grow professionally.

What is Supply Chain Management and Analytics?

  • The supply chain is transforming raw materials into a finished product that is delivered to customers.
  • The entire process involves manufacturing, transportation, warehousing, and distribution of goods, and necessary information flows within an organization or across companies in the value network (suppliers/customers).
  • Supply Chain Management (SCM) includes all activities required for effective planning, execution, and control of global business processes that connect suppliers to manufacturers through logistics providers, whereas Analytics refers to data analysis for decision-making purposes.
  • SCM has evolved over time from traditional hierarchical management structures towards collaborative governance among various stakeholders involved in end-to-end value chains.
  • It involves disintermediation where most transactions take place between trading partners rather than via intermediaries such as banks or wholesalers.
  • Analytics plays a major role in such collaborative governance by providing decision-makers with fact-based insights and analytics to make better-informed decisions for managing global supply chains while considering the complexities involved in the process.

Why Certification Matters?

The ACP offers a wide range of certifications in supply chain management areas to help professionals stay abreast of rapidly changing technologies and enhance their credentials. Both the Supply Chain Management Professional certification program and Certified Analytics Professional (CAP®) certification are among popular ones for individuals aspiring to make a career in the analytics field.

At present, there is no specific degree or diploma programs that can provide an individual with the necessary knowledge across diverse business functions involved in the supply chain management process; hence professional certificates issued by global organizations such as APICS play a vital role in invalidating one’s skillset.

The CACP/CAP Program provides two certifications — CSCP Certification helps professionals work on large-scale complex projects involving application design, development, integration, and supply chain planning, execution, collaboration, & optimization solutions.

On the other hand, CAP Certification is designed for individuals with expertise in data management and analytics who can help organizations take advantage of big data and complex algorithms to drive better decision-making.

How to Become Certified in SCM&A?

– Individuals can prepare for these certifications by taking a Supply chain Management course, attending webinars, and reading books/journals on the subject.

– To earn CSCP or CAP Certification, one needs to pass a relevant certification exam based on knowledge of supply chain concepts. There are no prerequisites for this exam; however, having some work experience in a related field will be beneficial.

Build Your Career in Supply Chain Management and Analytics with Imarticus Learning

The Professional Certification in Supply Chain Management and Analytics offered by Imarticus Learning provides a cutting-edge experience for supply chain aspirants. This 6-months program is uniquely designed by IIT faculty and industry leaders to help you learn. With the ever-increasing trend of e-commerce, the amount of movement of goods has been ever-increasing. There has been a disproportionate jump in the number of jobs for SCM across industries.

Course USPs:

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

Wearable scanners boosting productivity in supply chain operations is the future

Posted on by Imarticus Learning

Did you know that warehouse wearable technology has created a paradigm shift in how supply chain operations function? So, before you set sail on a supply chain management career, here’s a snapshot of how wearables in the warehouse are the future.

Wearables and accompanying apps have been in use for quite some time in warehouse operations. These are devices that are connected to the internet and worn on the head, face, wrist, or other body parts for hands-free communication. They are pretty much like activity and fitness trackers, but in the case of warehouse wearables, the technology helps workers perform supply chain tasks without having any additional mobile device in tow. 

Why Wearable Technology In the Supply Chain Is the Future

Wearable tools in supply chain operations include devices for hands-free scan verification, picking, and sorting. These devices have been improving warehouse productivity for decades and are here to stay for the foreseeable future. 

But what exactly are the benefits they confer on supply chain operations? Let’s find out.

Increased Productivity

Using wearable devices and freeing up employees’ hands dramatically enhances the speed of packing, picking, and shipping operations. Moreover, there is a significant increase in productivity when pickers can scan barcodes, receive instructions, and update inventory information without using a conventional handheld scanner or pen and paper.

Improved Accuracy

Wearable devices like scanners can reduce errors significantly since they eliminate the need for manual data entry. Furthermore, voice-directed wearable devices use voice commands over a headset to instruct employees about picking locations, SKU information, etc. These, along with hands-free barcode scanners and other automatic identification technology improve accuracy and increase productivity.

Identification of Inefficiencies

Awareness of the inefficiencies in the supply chain operations is as important as making the process more efficient. Identifying the obstacles that slow down processes make it easier to eliminate the hurdles. Wearable technology logs valuable information that can be helpful to identify inefficiencies and devise solutions. 

Improved Safety and Ergonomic Benefits

Most often, warehouse employees perform repetitive tasks that can cause injury and fatigue. Hence, warehouse wearables are designed to minimize the number of workplace injuries. For instance, these devices can monitor employees’ location, physical activity, and health, and if any unsafe activity or posture is detected, they provide real-time feedback to the wearer.

Enhanced Speed

Last but not least, the increased awareness that hands-free devices offer allows employees to complete their jobs more quickly. Using mobile computers while doing supply chain tasks is inconvenient, takes up time, and slows down the workflow. But wearables ensure there are minimum disruptions in the workflow, which, in turn, increases the speed of output. Thus, employees can cut down on the extra time wasted. 

Wearable solutions have made life in the warehouse much easier. Moreover, the evolution of machine learning and artificial intelligence has generated further value in the warehouse through robotics, computer vision, natural language processing, and similar sub-technologies. Overall, wearable solutions have transformed supply chain operations by boosting employee productivity and improving efficiency.

What To Look For In A Supply Chain Management Course?

Looking for a supply chain management online course? Well, there are several online courses that cater to the needs of professionals aspiring to make a career in the field of supply chain management. But before you settle for an SCM course, ensure that it has a robust curriculum incorporating key programming languages and tools like Python and Excel and hands-on learning with real-world projects.

Why do organizations emphasize on delivering business value through efficient procurement and logistical management?

Posted on by Imarticus Learning

Looking for the best logistics and supply chain management course on the block? Before you choose the supply chain Management course that suits you, understand why efficient procurement and logistical management are vital for organizations in the first place.

Procurement and logistics are two of the most common terms that you will hear in a business environment. While procurement refers to sourcing supplies, logistics means the holistic process of acquiring resources from their origin, managing them, and transporting them to the point of consumption.  

But why do organizations emphasize procurement and logistics management to deliver business value? Let’s find out.

Why is Procurement Management Important?

Procurement management entails overseeing all the processes involved in sourcing the materials, products, goods, and services required for business operations to run efficiently. The terms “purchasing,” “sourcing,” and “procurement” are often used interchangeably to describe the procuring of supplies and management of the process. However, it is “procurement” and “purchasing” that essentially refers to the operational function, while “sourcing” is usually more strategic.

Procurement management has a direct impact on strategic business operations and the company’s bottom line for the following reasons:

  • Procurement management ensures the proper acquisition of items and services so that processes and projects can proceed efficiently.
  • Procurement management can be instrumental in sealing valuable production and supplier contracts.
  • It can also set the stage for new and innovative processes and help domestic and local businesses go global.
  • When optimized, procurement management can save time, money, and resources while offering a competitive advantage.
  • By actively pursuing diverse suppliers, procurement management can be at the forefront of trailblazing CSR initiatives to promote diversity and inclusion.

Why is Logistics Management Important?

What earlier used to be a term restricted to military operations has now become a widespread business concept. Today, the business sector uses the term logistics to describe the efficient flow, storage, and management of goods from their source to the point of consumption.

Here’s how logistics management is critical to stay competitive and keep pace with customers’ demands:

  • Managing logistics significantly reduces overhead costs, increases productivity, and ensures faster delivery. 
  • Logistics is the foundation of a successful supply chain. It helps boost the sales and profit of businesses dealing with the production, warehousing, shipment, and delivery of products. 
  • The analysis of a company’s supply chain management data improves efficiency. Using a transportation management system to track the movement of goods in and out of a business optimizes the process and minimizes disruptions. 
  • Well-managed and organized logistics ensure fast and seamless product delivery to customers. 
  • Last but not least, efficient logistics management improves customer service, meeting and exceeding customer demands. It enhances the brand image and helps the business attract and retain long-term customers.

What to Look For in a Logistics and Supply Chain Management Course?

If your goal is to get a professional certification in Supply Chain Management and Analytics, there are several online courses that you can choose from. While each of them claims to be the best, ensure that the program caters to your professional needs.

For example, the course curriculum should cover key programming languages and tools such as Python, Excel, and TOra, and hands-on training in real-world SCM projects. Overall, the course must be robust enough to prepare you for the operations and supply chain industry with a cutting-edge curriculum and industry exposure.