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Supply Chain Transparency: Meeting Consumer Demand for Ethical Sourcing and Product Information

Posted on by Imarticus Learning

The concept of supply chain transparency has been around only for some time now. In recent times, supply chain transparency has emerged as a crucial concept depicting a paradigm shift from traditional business practices.

With heightened consumer awareness, stricter regulatory practices, and policies for ethical trade practices, the significance of supply chain transparency has increased. 

Companies must actively understand the events taking place upstream in the supply chain and effectively convey this information both within the organisation and to external stakeholders for supply chain transparency.

In this blog, we will explore the elements of supply chain transparency in detail that would help to pursue a career in supply chain management. Keep reading to learn more.

What Is Supply Chain Transparency?

Supply chain transparency is the extent to which the various stages, processes, and entities involved in producing, distributing, and delivering goods or services are open and visible to stakeholders and even to customers. 

It involves sharing comprehensive information about sourcing, manufacturing, distribution, and environmental or social impacts. This transparency fosters accountability, ethical practices, and informed decision-making throughout the supply chain. 

By disclosing details about origins, practices, and conditions, companies enhance trust among consumers, investors, and regulators, while promoting sustainability and fair labor standards. Overall, supply chain transparency ensures a clear view of the journey a product takes from its creation to reaching the end consumer.

Benefits of Supply Chain Transparency

The benefits of supply chain transparency are discussed below: 

  • Customer Loyalty: Transparent supply chains foster customer loyalty by showcasing sustainability efforts and product origins, resulting in increased revenue from repeat customers. 
  • Enhanced Conversion Rates: Shifts to purpose-driven messaging lead to improved conversion rates, click-through rates, and email revenue, underscoring how transparency positively affects customer engagement. 
  • Stronger Customer Connections: Such sustainable practices create deeper emotional ties between customers and brands, yielding substantially higher lifetime value. 
  • Trust and First-time Purchases: Transparent brands are likely to enjoy more consumer trust and are preferred by buyers making initial purchases, particularly those emphasising ethical practices. 
  • Durable Supplier Relationships: Establishing robust supplier ties ensures ethical practices and quality, translating to fewer errors and recalls, and reinforcing supply chain robustness and profitability. 
  • Preparedness for Regulations: Transparent supply chains proactively address disruptions and align with evolving regulations. Emerging laws emphasise supply chain transparency.

Challenges in Achieving Supply Chain Transparency

Achieving supply chain transparency might be difficult. Here is why:

  • Complex Global Supply Chains: Modern globalisation has intricately woven complex supply chains, often involving multiple tiers of suppliers, making it difficult for companies to trace the origin of goods and monitor practices at every level. 
  • Outsourcing and Subcontracting: Suppliers may outsource production to third parties, leading to challenges in ensuring fair labor practices and ethical standards throughout the extended supply network. 
  • Opacity in Lower Tiers: Human rights abuses and environmental violations frequently occur in lower tiers of suppliers, which can be challenging to monitor and address effectively. 
  • Limited Control: Even when ensuring ethical practices at one stage, factors like cancelled orders by other brands can jeopardise the fair treatment of workers, revealing the limited control brands have over the entire supply chain. 
  • Accountability Pressures: Consumers hold brands responsible for any supply chain issues or inaccuracies, even if the complexity of global supply networks makes complete oversight challenging. 
  • Managing Expectations: Brands must educate consumers about the intricate nature of supply chains to manage expectations while maintaining transparency to build trust. 
  • Shifting Standards: Changing regulations, certifications, and internal goals create complexities in new product development, requiring adherence to evolving standards and sourcing compliant suppliers. 
  • Balancing Disclosure: Striking the right balance between transparency and protecting sensitive information poses a challenge, as disclosing too much could have unintended consequences. 
  • Sourcing Challenges: Developing products that meet stringent ethical and environmental standards demands sourcing from manufacturers and vendors that align with these requirements is tough.

Strategies To Attain Transparent Supply Chains

As supply chains become increasingly intricate, following these steps can help companies achieve transparency, align with ethical standards, and build resilient relationships with suppliers and customers: 

  • Risk Identification and Prioritisation: Begin by mapping your supply chain, understanding its complexities, and identifying vulnerabilities. Assess past disruptions, potential issues, and upcoming regulations to determine areas for improvement. 
  • Establish Goals: Based on the insights gained, set comprehensive goals for supply chain transparency. Embrace a holistic approach, addressing both environmental and social concerns, and collaborate with suppliers to align on shared objectives. 
  • Develop a Code of Conduct: Create a robust code of conduct that outlines the ethical and sustainable standards you expect from suppliers. Collaborate with suppliers to ensure alignment and commitment to these goals, addressing specific issues like safety and environmental impact. 
  • Measurement and Progress Tracking: Define clear metrics to measure progress towards your transparency goals. Utilise tools such as the Higg Index for standardised sustainability assessment, engaging both self-assessment and third-party verification for accurate evaluation. 
  • Supplier Relationships: Recognise the importance of relationships in supply chains. Support suppliers in meeting goals by offering financial investment or resources, fostering mutual growth and improvement. 
  • Stakeholder Disclosure: Communicate your progress transparently to stakeholders and customers. Avoid complexity and make actions understandable. Simplify disclosures to make it easy for consumers to comprehend your environmental and social impact efforts. 
  • Direct Customer Engagement: Connect customers directly to producers and suppliers in your supply chain, fostering a deeper understanding of the process. This not only enhances transparency but also enriches customer experience and quality improvement. 
  • Continuous Monitoring: Recognise the dynamic nature of supply chains and implement regular progress assessments. Continuously refine strategies and practices to ensure sustained transparency and alignment with goals.

Conclusion

Supply chain management optimises business operations and helps drive the overall success of any organisation. Supply Chain Managers contribute by enhancing efficiency and upholding customer expectations while reducing costs. Thus, supply chain management has emerged as a lucrative career option due to its increasing demand. 

If you want to pursue a career in supply chain management but do not know where to start, head to Imarticus Learning for a beneficial supply chain course. Imarticus Learning, in partnership with IIT Guwahati, has designed a comprehensive digital course for aspiring Supply Chain Managers. The Advanced Certification Program in Digital Supply Chain Management deals with aspects of vendor management, supply chain transparency, procurement, and much more to make students industry-ready. 

Not just this, at Imarticus Learning, students are given 100% placement assistance so that they can only focus on brushing their skills and not worrying about bagging a job. Head to Imarticus Learning to know more. 

Demand Forecasting: A Crucial Component of Supply Chain Management

Posted on by Imarticus Learning

Do you want to discover how to make your supply chain more efficient and less expensive? Would you want to discover how to foresee client demand and make necessary plans? Do you want to improve your company’s performance and gain an advantage?

If you said yes to any of these questions, you must be familiar with demand forecasting. Estimating future demand for goods or services using historical data, market trends, consumer behavior, and other variables is known as demand forecasting. It is a crucial part of supply chain management because it enables you to match the demands of your customers with your production, inventory, distribution, and marketing plans.

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In this post, we’ll talk about the value of demand forecasting, how it affects supply chain management, and how you can learn more. By the end of this post, you will better understand how demand forecasting can help you achieve your business goals and improve customer satisfaction.

What is Demand Forecasting?

Demand forecasting is the practice of making future predictions. It involves looking into a crystal ball and predicting client preferences before they are even aware. Businesses may use this information to allocate resources sensibly, improve their supply networks, and create long-term plans.

Techniques for demand forecasting often fall into one of two categories: qualitative or quantitative. While qualitative techniques rely on subject-matter expertise and intuition, quantitative approaches make predictions using data and analysis. A certain firm’s best course of action will depend on its particular set of circumstances.

Demand forecasting is a potent tool that may keep firms ahead of the curve, regardless of the approach employed. Businesses can decrease costs associated with stockouts and surpluses and increase customer satisfaction. Businesses may make intelligent resource allocation choices, optimize their supply networks, and plan for the future using this knowledge.

The practice of foreseeing demand or pricing for a product — or a variety of items — in a certain sector is known as supply chain forecasting. For example, the algorithms underlying a forecasting model can anticipate a product’s price by examining data from suppliers and buyers.

Read Also: Best Practices For Supply Chain Planning

Types of Demand Forecasting

Demand forecasting frequently bases its predictions on past sales data. Other contributors include seasonal highs and lows in demand, recurring economic patterns, and market movements. Utilizing statistical forecasting, demand forecasting software aids in developing sales predictions.

There are several forms of demand forecasts. Your supply chain’s demand planning may use a variety of methods. You can have several sales projections for various periods. Forecast accuracy is greater with short-term forecasts. 

However, depending on your supply chain’s cycle duration, a long-term prediction could be necessary for inventory management. Short-term forecasting is defined as up to a year in the future. Planning for long-term demand forecasts demand for up to four years.

Forecasts of demand might be internal or external. An external forecast considers how current market and economic conditions may affect future demand. A demand planner considers changes in consumer demand, consumer spending habits, and the overall state of the economy when generating an external sales forecast.

On the other hand, internal demand planning aims at the capability of your internal supply chain and staff. The availability of resources to fulfill seasonal demand can be determined via internal demand forecasting. Planning for internal and external demand is crucial for producing a precise projection.

Demand Forecasting Techniques

There are several distinct demand forecasting method choices you may utilize within the realm of qualitative and quantitative forecasting:

  • Collective Opinion collects historical data about consumer demand by utilizing the expertise and experience of a company’s sales force.
  • Client survey methods offer important details about client requirements, wants, and expectations. Although it might be challenging to foresee real demand, this data is important for establishing sales forecasts.
  • The Barometric Method is a technique for anticipating active demand that uses economic indicators to gauge past, present, and future activity and anticipate patterns.
  • The Expert Opinion Method seeks professional judgment from outside consultants to determine future action.
  • The market experiment method uses controlled market experiments to inform merchants about customer behavior.
  • Using the statistical technique, a business may find and examine the connections between various factors, establish performance history through time, spot patterns, and estimate probable future trends.

What is the importance of Demand Forecasting?

Demand forecasting is important for several reasons. 

Here are some of the benefits of demand forecasting:

  • It assists in optimizing the inventory level. By anticipating the demand for your products or services, you may avoid overstocking or understocking, which can lead to waste, spoilage, obsolescence, or stockouts. Reduce costs associated with storage and handling to increase cash flow.
  • It aids in the planning of your production and purchasing. You can appropriately plan your production and purchase schedules by predicting the demand for your goods or services. Utilizing resources like labor, machinery, materials, and energy can all be optimized. Additionally, you can prevent production interruptions or delays brought on by shortages or surpluses.
  • It aids in the management of your logistics and distribution. Creating a demand prediction for your goods or services can help you organize your logistics and distribution processes.
  • It aids in the creation of your sales and marketing plans. You may make your marketing and sales initiatives more effective by anticipating consumer demand for your goods and services. Additionally, you may improve client retention and loyalty while raising sales income and profitability.

What is the Role of Demand Forecasting in Supply Chain Management?

Demand forecasting is necessary for supply chain management since it links the many supply chain stages. By synchronizing and coordinating your supply chain activities with consumer demand through demand forecasting, you can ensure that you give customers the right products or services at the right time.

You may increase the effectiveness and performance of your supply chain by using demand forecasting to:

  • Align your supply chain goals with your corporate objectives.
  • Identify and reduce possible risks and uncertainties in your supply chain 
  • Monitor and assess your supply chain performance and results
  • Implement continuous improvement initiatives in your supply chain

How to Broaden Your Knowledge in Demand Forecasting?

If you want to broaden your knowledge in demand forecasting, there are several ways you can do so. Here are some of the options you can consider:

  • Enroll in an online course or program on demand forecasting. Many online courses or programs offer comprehensive and practical training on demand forecasting. You can learn from experts in the field, access relevant and updated content, and interact with other learners from different backgrounds and industries.
  • Read books or articles on demand forecasting. Many books or articles provide valuable insights and tips on demand forecasting. You can find them in libraries, bookstores, or online platforms. You can subscribe to newsletters or blogs covering demand forecasting topics.
  • Join a professional network or community on demand forecasting. Many professional networks or communities focus on demand forecasting. You can join them online or offline, depending on your preference. You can benefit from networking with other professionals in the field, sharing best practices and experiences, and getting feedback and support.

The Final Words

Demand forecasting is essential to supply chain management because it enables you to match your supply chain’s operations with consumer demand. You can manage distribution and logistics, plan production and procurement, optimize inventory levels, and create marketing and sales plans with the aid of demand forecasting. Increase your abilities and capabilities in this area, career possibilities, and opportunities by expanding your understanding of demand forecasting.

In partnership with CEC, IIT Roorkee, and other industry leaders, Imarticus Learning offers Professional Certification in Supply Chain Management and Analytics to individuals looking to work in the operations and supply chain sector. 

Prepare yourself for a rewarding supply chain management and analytics career by getting hands-on experience with 6 real-world projects designed to give you a thorough understanding of the sector.

 You may learn crucial supply chain knowledge and analytical abilities through this cutting-edge curriculum created by CEC and IIT Roorkee. This supply chain analytics course will teach you how to use Python to become more data-driven and make better supply chain choices.

Role of Logistic Management in Supply Chain Success

Posted on by Imarticus Learning

If you’re delivering products or services to your customers, you know how important it is to have a smooth and efficient supply chain. But do you know how much logistic management can affect your supply chain performance? 

Logistics management is the unsung hero working hard behind the scenes to make ideas come true. From managing inventory to coordinating perfect transportation, promoting teamwork, and cutting expenses, logistic control is the unsung hero. So buckle up and get ready to see how this unsung hero works magic to bring suppliers, manufacturers, distributors, and retailers together in perfect harmony.

In this blog post, we’ll dive headfirst into the dynamic realm of logistic management. Together, we’ll uncover the secrets behind its crucial role in the grand symphony of supply chain success.

What is logistic management?

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The transportation and storage of products, services, and information from the point of origin to the site of consumption is planned, carried out, and controlled through logistic management. It entails organizing and fusing various processes, including shipping, warehousing, inventory control, order fulfillment, packaging, and customer support.

The efficient forward and reverse flow of products, services, and related information from the place of origin to the consumption site following customer demands is the focus of logistics, a subset of supply chain management. 

The supply chain’s logistics management is a crucial link in the chain. In logistics, resources can be managed in the form of consumables like food and other consumables, as well as physical assets like materials, equipment, and supplies.

In supply chain management, the primary function of logistics is to raise the overall value of each delivery, which is measured by customer satisfaction. Maintaining a particular level of high-quality customer service must be linked to optimizing and reducing personnel resources.

How efficient logistics management enhances supply chain success?

Logistics management is crucial for the success of your supply chain because it directly impacts customer happiness, operational effectiveness, and profitability.

Few importance of logistics in the supply chain:

  • Providing the appropriate goods or services at the appropriate time, location, and quality level raises customer happiness. Additionally, it improves your ability to communicate with and respond to the requirements and expectations of your clients.
  • Maximizing the use of your resources, lowering waste and expenses, and raising productivity and quality improves operational efficiency. It also allows you to adjust to shifting consumer preferences and market situations.
  • It boosts your profitability by increasing sales, reducing expenses, and improving your cash flow. It also gives you a competitive edge over your rivals by offering superior value to your customers.

What is the role of logistic management in supply chain success?

The following advice may help you handle your logistics more effectively:

  • Plan ahead: Effective logistic management depends on planning. You must have a distinct understanding of your objectives, plans, and techniques. Additionally, you must foresee probable dangers and difficulties and make appropriate backup plans.
  • Utilize technology: In logistic management, technology may be a powerful ally. Your logistical procedures may be automated, streamlined, and optimized using various tools and software. To plan, carry out, and track your transportation-related operations, for instance, you may utilize a transportation management system (TMS). A warehouse management system (WMS) may also manage your inventory.
  • Work together with partners: Managing logistics is a team effort. You must work with your customers, transporters, distributors, and suppliers for the best outcomes. You must build a relationship of trust, openness, and communication with your partners. Additionally, you must match them with your objectives, benchmarks, and performance metrics.
  • Track and assess: Logistic management is a continuous process. Your logistical performance has to be regularly evaluated, monitored, and adjusted as necessary. Data on several variables, such as delivery time, cost, quality, customer happiness, etc., must be gathered and analyzed. Additionally, you should ask your partners and clients for input so that you may make the necessary modifications.

What distinguishes supply chains from logistics?

Supply chain and logistics should not be confused. It simply indicates that resource management is being globalized from every local unit to the full network of production sites.

The complicated category is supply chain management. Logistics are also a part of supply chain management, enabling end-to-end optimization or dealing with counterparties inside the company.

Effective logistics management aims to achieve maximum competitiveness and profitability for the business as well as the full network structure of supply chains, including the end-user.

What are the benefits of effective inventory management in logistic control?

Effective inventory control is essential for logistical control and provides several advantages to supply chain optimization. Let’s examine a few of these major benefits:

  • Cost reduction: Effective inventory management assists companies in cutting expenses related to stockouts or retaining surplus inventory. 
  • Increased funds Flow: By reducing surplus inventory, firms may release funds that would otherwise be constrained by it. 
  • Improved client Service: Product availability to satisfy client requests is guaranteed by efficient inventory management. Businesses may quickly and effectively satisfy orders by avoiding stockouts and keeping ideal stock levels. 
  • Reduced Wastage and Obsolescence: Effective inventory management entails tracking and monitoring inventory to spot out-of-date or slow-moving products. 

The Final Words

An essential factor of a successful supply chain is logistics management. It may assist you in enhancing customer happiness, operational effectiveness, and financial success. Additionally, it may provide you with a market edge in terms of competition. Following the tips and tricks above can improve your logistic management and take your supply chain performance to the next level.

The Professional Certification in Supply Chain Management and Analytics results from a partnership between Imarticus Learning, CEC, IIT Roorkee, and business professionals. This extensive IIT supply chain analytics course gives applicants cutting-edge instruction designed for people hoping to work in the operations and supply chain sector.

Organizations may use Supply Chain Analytics to make defensible, data-driven choices at the tactical, operational, and strategic levels.

What can I do with a supply chain management degree?

Posted on by Imarticus Learning

In the dynamically transforming world of commerce, a career in supply chain management offers an exciting blend of strategic problem-solving, analytical skills, and management prowess. Graduates from a supply chain management course find themselves at the crossroads of an intricate global network, managing a wide array of activities from procurement to logistics, thereby making tangible impacts on the businesses they work with.

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With the burgeoning complexity of international commerce, supply chain management has emerged as a crucial field, accelerating demand for skilled professionals. With a degree in supply chain management, one can navigate through this industry, sculpting an intriguing and rewarding career in logistics and supply chain management.

The Evolution of Supply Chain Management: A Historical Perspective

Understanding the evolution of supply chain management helps appreciate the complexity and importance of the field today. 

The early 20th century saw the core focus on production. With that, companies aimed at enhancing manufacturing efficiency. This era was characterised by mass-production models, as exemplified by Henry Ford’s assembly line. During this period, supply chain activities were largely fragmented, and logistics was viewed as a necessary but non-strategic expense.

Post World War II, there was a shift towards a market orientation, where understanding customer needs and providing value became the focal point. Businesses started recognising the significance of managing distribution and logistics to meet customer demands effectively. Still, the overall supply chain perspective remained functionally siloed, with each department focusing on optimising its operations without much regard for the broader system.

The late 20th century heralded a new era with the advent of Information Technology. Companies began to see their supply chains as an integrated process, where coordination across different functions was key to achieving overall efficiency. Alongside this, various waste reduction and continuous improvement strategies like JIT (Just in Time) and TQM (Total Quality Management) also took birth.

With the dawn of the 21st century, the supply chain management field witnessed exponential growth in its complexity and strategic importance. Globalisation led to lengthier and more intricate supply chains, demanding better coordination and visibility across all levels. While we were adjusting to the new normal, e-commerce giants like Amazon emerged, completely revolutionising consumer expectations from businesses. The newfound appetite for speedy, affordable, and efficient delivery has skyrocketed, exerting considerable pressure on companies to meet these amplified demands.

The freshest shift in supply chain management is deeply connected to the arrival of advanced digital technologies like AI, machine learning, big data, and blockchain. This surge of technological advancements has sparked the beginning of an exciting new journey in the realm of supply chain management, unfolding an array of promising prospects for the times ahead.

Charting Your Career Path

A supply chain management degree unlocks a multitude of potential career paths, each with unique roles and responsibilities. You might find yourself stepping into the shoes of a Supply Chain Analyst. 

In this role, you’d immerse yourself in the meticulous review and enhancement of supply chain processes, skillfully using quantitative data as your compass to guide insights and shape strategic decisions. Alternatively, you could take on the mantle of a Logistics Manager or Operations Manager. These roles place you at the heart of daily supply chain operations, where your responsibility lies in maintaining the smooth running of operations and ensuring efficient and timely deliveries, all while keeping a vigilant eye on cost management.

If strategic roles interest you, you might gravitate towards becoming a Supply Chain Consultant or a Supply Chain Manager. These roles involve a strategic overview of supply chain processes, optimising performance, reducing costs, and ultimately driving value for businesses. 

As your experience grows, you could even work your way up to become a Director or Vice President of Supply Chain Management, playing a pivotal role in shaping a company’s direction and success.

Leveraging the Right Course

Taking the right supply chain management course is crucial in developing the necessary skills and knowledge to excel in this industry. A well-structured course provides both the theoretical and practical grounding required to navigate the dynamic landscape of supply chain management.

One course that stands out is the Professional Certification in Supply Chain Management and Analytics by IIT Roorkee, offered in collaboration with Imarticus Learning. This globally recognised certification offers a comprehensive curriculum, expert-led teaching, and real-world industry projects, providing a holistic and impactful learning experience.

Building a Future in Logistics and Supply Chain Management

A career in logistics and supply chain management promises diversity and exciting challenges. With roles spanning across industries like retail, manufacturing, healthcare, and technology, a degree in supply chain management could lead you anywhere in the world.

As businesses increasingly prioritise sustainable practices, there is a rising demand for supply chain professionals capable of creating and implementing green logistics strategies. This presents opportunities to influence companies’ environmental footprints while driving cost savings and efficiency.

Conversely, with the surging emphasis on digital transformation, an array of roles dedicated to the management and application of advanced technologies in supply chain management is becoming increasingly prevalent. These technologies, encompassing AI, machine learning, and blockchain, create a rich confluence of technology and supply chain management, paving the way for innovation and revolutionary change.

In conclusion, possessing a degree in supply chain management is akin to holding a versatile key capable of unlocking a myriad of career opportunities. Opting for a globally recognised course like the one offered by IIT Roorkee ensures you are well-armed with the necessary skills and insights to flourish in this ever-changing field. 

Setting off on a career journey in supply chain management offers not only a diverse range of challenges to conquer but also a chance to make a significant contribution to the global economy.

Components of Supply Chain Management

Posted on by Imarticus Learning

The term ‘supply chain management’ first came into the picture in 1982, when Keith Oliver coined it. However, supply chain management has existed in practice long before that. The only way to successfully sell large quantities involves efficient supply chain management. 

With modern technology, AI, and various software tools, business owners find managing their supply chains increasingly simpler. Nevertheless, one must be aware of the different components of supply chain management in order to simplify and streamline their supply chain operations.

Let us dive into the world of supply chain and dissect each component of the supply chain to understand its functioning. 

Understanding Supply Chain Management: Definition and Objectives

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Essentially, supply chain management refers to the handling of all the processes involved in transforming raw materials into finished products and, subsequently, selling them. Supply chain management impacts other facets of businesses, such as financial management, operating costs, customer satisfaction, and more. 

The key objectives of supply chain management are: 

  • Improving efficiency
  • Optimising logistics
  • Improving customer satisfaction
  • Cutting down unnecessary costs
  • Improving distribution
  • Co-ordinating the overall business

Six Components of Supply Chain Management

While there are several different models of supply chain management, the most common one is the Supply Chain Operations Reference or SCOR model. This model has six components that are as follows:

  • Planning: The first and most crucial component in supply chain management is planning. One of the first things an entrepreneur would need to plan is how to make their product, domestically or internationally. Furthermore, this is also the time to decide whether you want to make each part of your product yourself or whether it would be more sensible to purchase some components from a third party. 

Additionally, planning will also require you to decide how you will produce and store your products. This means you should have a clear layout of whether you want to make and store your products beforehand or make them as you get orders. 

  • Sourcing: Once you are done planning, you will be moving on to the sourcing phase of your supply chain management. This is where business owners should reach out to potential vendors, verify the quality of raw materials, get the best-quoted price possible, and subsequently buy them. It is also essential to ensure all your raw materials are delivered on time. 

In addition, remember to assess and vet your suppliers continually for optimal supply chain management operations. 

  • Location: Location plays a very critical role in supply chain management. For example, if you own a beverage company, your manufacturing plant should not be established in a location with water scarcity. Therefore, set up your manufacturing unit based on the needs and requirements of your raw materials and finished products. 
  • Making: Once the previous three steps are fulfilled correctly, you will move on to making your goods. This stage involves assembling, testing, and packing of finished products. You can incorporate customer feedback at this stage to ensure your products are up to the mark. 
  • Delivering: Now, we enter into the logistics part of supply chain management. Apart from ensuring your goods reach your customers, this phase also involves processing orders, warehousing, and inventory management. A major part of the success of a company depends on this stage, and hence, you should put special efforts into ensuring a smooth delivery process. 

Some of the best delivery practices include automated inventory management, large warehousing networks, delivery fulfilment using air, sea, and road, and so on. 

  • Returns: While returns may seem to have a negative impact on your business, in reality, how you handle your returns and improve your products based on that will attract more buyers to your company. Therefore, make sure to create a simple and easy returns process that does not feel like a hassle to your buyers. 

Furthermore, you should have efficient reverse logistics in place to ensure your goods are picked up on time and returned to your warehouse for further inspection or processing. Other elements of the returns process are:

  • Identifying the condition of the returned product
  • Authorising the return
  • Scheduling a replacement
  • Processing refunds

Importance of Understanding Supply Chain Management for Growth

Needless to say, supply chain management is one of the most important aspects of businesses that help entrepreneurs to scale up while saving costs and offering high-standard services and products. Even though supply chain management might sound simple, it has a ton of intricacies, all of which need to be taken care of in order to get the best results. 

In this regard, we recommend enrolling in the IIT Supply Chain Management Course, taught by esteemed faculty members at IIT Roorkee and offered by Imarticus. 

This online course covers all the basics in addition to the components of supply chain management. Furthermore, you will also be able to learn coding languages and software tools like Python, Excel, and Tora. At the end of the course, you will get a certification from IIT Roorkee, which will further boost your portfolio and help you better manage your own business supply chain operations or establish yourself as an expert in this field. 

How to Become a Leading Supply Chain Manager

Posted on by Imarticus Learning

In recent years, the field of supply chain management has witnessed exponential growth. In fact, by the end of the year 2027, it is likely to hit a whopping amount of $45.2 billion. Some of the many reasons that can be attributed to its huge demand are the rapidly changing business landscape and the need for companies to directly provide their services or products to customers. This is what we refer to as the B2C model of business. 

To achieve the same, organisations need professionals who can navigate them through these complex supply lines. That is where the role of a supply chain manager comes into play. 

In this article, we’ll give you a detailed tour of what are the roles and responsibilities of a supply chain manager, as well as the skillset required to become one.

What Is A Supply Chain Manager?

Simply put, a supply chain manager refers to a professional who is responsible for overseeing and coordinating all operations related to the production, procurement, and distribution of goods and services within a supply chain. Their ultimate goal is to ensure a smooth and efficient flow of information and resources from suppliers to manufacturers and retailers and ultimately to the customers. 

 

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The nature of this job requires them to work in an office environment wherein they can supervise the day-to-day operations. Sometimes they might also be required to travel to other locations or meet new vendors to find raw material suppliers. As a supply chain manager, you must possess a combination of technical skills, such as logistics knowledge, as well as leadership qualities, and strong communication skills. 

Additionally, you are also required to have a deep understanding of supply chain dynamics so that you can adapt to this changing business environment in an efficient manner. But before we delve into the details of the supply chain manager’s skills and qualities, let’s take a look at their roles and responsibilities.

Roles And Responsibilities Of A Supply Chain Manager

Supply chain managers play a crucial role in boosting company revenue by enhancing customer satisfaction. Although the actual responsibilities of a supply chain manager might differ from organisation to organisation, some of the most common tasks they are expected to perform include,

  • Collaborating with stakeholders to develop strategic plans, forecast demands, and set production targets.
  • Connecting with vendors and buyers to find the right materials or products.
  • Evaluating potential suppliers, negotiating contracts, and establishing relationships with key suppliers.
  • Managing inventory levels so as to minimise costs while simultaneously meeting all the needs and demands of customers.
  • Working closely with logistics providers and shipping companies to coordinate the movement of goods and materials throughout the supply chain.
  • Identifying any potential risks and taking the necessary course of action to mitigate any form of disruption in the supply chain.
  • Identifying inefficiencies and implementing effective strategies to optimise all operations, reduce costs, and increasing the overall supply chain performance.
  • Keeping up to date with the latest industry trends and technological innovations. 

Skills Required To Be A Supply Chain Manager

In order to emerge as a successful supply chain manager, you must possess an amalgamation of technical, analytical as well as interpersonal skills. Such include,

Analytical and Problem-Solving Skills

Supply chain managers are required to have excellent analytical skills so that they can identify any new trends and make informed decisions accordingly. Additionally, they must also possess problem-solving skills to be able to solve complex issues and make data-driven decisions to improve supply chain efficiency. 

Risk Management

Risk management skills are also extremely important for a supply chain manager. It enables them to determine transportation schedules and production goals. This also includes the ability to implement risk assessment checklists, conduct audits, and implement other risk mitigation tools. 

Project Management

Often a time, supply chain managers may be required to handle complex projects such as launching new products or optimising new systems. Therefore, in order to carry out all these tasks efficiently, it is very crucial to have the required project management qualities. This includes planning, organisation, and risk management.

Strategic Thinking

Supply chain managers must be able to think strategically and have a holistic view of the whole supply chain process. In this manner, they can ensure that the implemented supply chain strategies are in sync with the overall business opportunities. Furthermore, it can also prove to be quite beneficial in anticipating market changes and identifying areas for cost savings. 

Communication and Collaboration

Last but not least, the role of a supply chain manager is such that it requires you to connect with multiple people at a time. This includes stakeholders, customers, internal teams, and other executives. Therefore, to ensure that the necessary information is disseminated in an efficient manner, you must possess excellent communication abilities. 

By developing all these above-mentioned skills, you can not only excel in the field of supply chain management but also drive efficiency and innovation within the supply chain operations of any organisation.

Conclusion

To sum up, a supply chain manager plays a very crucial role in the overall success of a business organisation. Be it managing supplier relationships, meeting customer demands, ensuring efficient operations, or mitigating risks and disruptions; supply chain managers perform a variety of tasks. If you wish to pursue a career in this field, you must possess a Bachelor’s degree to help you gain fundamental knowledge of the whole supply chain management process.

Additionally, you can also look for several courses that are available online. Adding the same to your resume will bring you one step closer to landing your dream job as a supply chain manager. One such program includes the Executive Certificate Programme For Global Chief Supply Chain and Operations Officers, brought to you by Imarticus. This 10-month duration course details all the crucial aspects of supply chain management, such as operations management, supply chain drivers and metrics, sustainability in the supply chain, and supply chain design, among others.

Enhancing Supply Chain Performance: How Supply Chain Analytics Course Makes a Difference

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Companies face numerous challenges in optimising their supply chain performance in today’s fast-paced business landscape. Organisations constantly seek ways to gain a competitive edge, from managing inventory and logistics to forecasting demand and improving operational efficiency. One powerful solution that has emerged in recent years is the application of supply chain analytics. This article explores how a supply chain analytics course can significantly enhance supply chain performance.

What is Supply Chain Analytics?

Supply chain analytics involves data analysis and statistical modelling techniques to gain insights and make informed decisions in supply chain management. By leveraging advanced analytics tools and technologies, organisations can extract valuable information from vast amounts of data, optimizing various aspects of their supply chain.

The term “supply chain analytics” describes businesses’ procedures to understand and derive value from vast commodities’ production, processing, and distribution data. Supply chain management (SCM) must include supply chain analytics.

supply chain management courses

Although supply chain analytics has existed for over a century, substantial advancements in mathematical models, data infrastructure, and applications support it. With the rise of statistical methods, predictive modelling, and machine learning, mathematical models have become better. 

Data architecture has transformed with the advent of cloud computing, complex event processing (CEP), and the Internet of Things. Enterprise resource planning, warehouse management, logistics, and asset management applications have evolved to offer information across conventional application silos.

How does Supply Chain Analytics Improve Performance?

Supply chain analytics is critical in enhancing performance by offering insightful information and facilitating data-driven decision-making throughout the supply chain. 

The following are a few ways that Supply Chain Analytics improves performance:

  • Supply Chain Analytics enables businesses to understand better their inventory levels, lead times, and unpredictability of demand. 
  • With this knowledge, companies may apply efficient inventory management techniques to guarantee the appropriate items are accessible at the right time, reduce carrying costs, and enhance cash flow. 
  • Supply chain analytics is critical in enhancing performance by offering insightful information and facilitating data-driven decision-making throughout the supply chain. 

What are the Benefits of Supply Chain Analytics?

The following are a few of the benefits of analytics in supply chain management:

  • Enhanced Operational Efficiency: Supply Chain Analytics for Operational Efficiency may shed light on several supply chain components, including production procedures, logistics, and order fulfilment. Organisations may find bottlenecks, eliminate waste, and simplify processes by evaluating this data, which boosts productivity and efficiency. 
  • Improved Forecasting Accuracy: Supply chain analytics enables organisations to analyse historical data and identify patterns and trends that can make accurate demand forecasts. By understanding future demand more clearly, companies can optimise inventory levels, reduce stockouts, and improve customer satisfaction. 
  • Optimised Inventory Management: Supply chain analytics provides insights into inventory levels, lead times, and demand variability. By understanding demand patterns and analysing supplier performance, organisations can optimise their inventory management strategies, ensuring the right products are available at the right time and minimising excess inventory. 
  • Mitigated Risks: Supply chain analytics enables organisations to identify and reduce potential risks in their supply chain. By analysing data related to supplier performance, market trends, and external factors, companies can proactively manage risks such as disruptions in the supply chain, changes in customer demand, or geopolitical events. 
  • Improved Collaboration: Collaboration in Supply chain analytics promotes information sharing across departments and stakeholders. Analytics enables better communication, coordination, and decision-making, fostering closer collaboration between suppliers, manufacturers, distributors, and retailers by providing a holistic view of the supply chain.

The Role of a Supply Chain Analytics Course

Organisations and professionals must develop the necessary skills and knowledge to leverage supply chain analytics’s potential fully. This is where a supply chain analytics course plays a crucial role. Such a course equips individuals with the expertise to effectively utilise analytics tools and techniques and apply them to real-world supply chain scenarios.

A comprehensive supply chain analytics course covers data collection and preprocessing, statistical analysis, data visualisation, predictive modelling, and supply chain optimisation techniques. Participants learn to extract valuable insights from data, interpret results, and make data-driven decisions to enhance supply chain performance.

Businesses utilizing data analytics to enhance their supply chains are at a considerable advantage in today’s cutthroat global market. You may acquire the abilities and understanding required to be successful in this expanding area by enrolling in a supply chain analytics course.

A supply chain analytics course could address data gathering and analysis, supply chain modeling, decision-making, risk management, and business intelligence.

A supply chain analytics course might be a useful complement to your education if supply chain management is a job you’re interested in. These courses can assist you in differentiating yourself from the competition and increase supply chain performance by giving you the abilities and information you need to use data to enhance performance.

The Final Words

Supply chain analytics has emerged as a game-changer for enhanced supply chain performance. By harnessing the power of data analysis and statistical modelling, organisations can gain valuable insights and make informed decisions to optimise their supply chain operations. Investing in a supply chain analytics course empowers professionals to develop the necessary skills and expertise to leverage analytics tools effectively, ultimately making a significant difference in driving success in today’s competitive business environment. 

The Imarticus Learning Professional Certification in Supply Chain Management and Analytics, created in partnership with CEC, IIT Roorkee, and industry professionals, provides applicants with a cutting-edge learning environment suited for individuals looking to work in operations and supply chain.

Imarticus Learning’s Supply Chain Analytics program gives users the knowledge and abilities to base tactical, operational, and strategic choices on data. Few experts in the field of supply chain management are proficient in both processes and analytics. This certification program equips participants for in-demand careers in supply planning, demand planning, data science, and supply and operations planning.

So, take the first step towards enhancing your supply chain performance and enroll in a supply chain analytics course today!

How a supply chain management training is proving helpful during the pandemic

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How supply chain management training is proving helpful during the pandemic

As the world got rocked by an unprecedented pandemic, the supply chain management course proved to be one of the best decisions for some students. With this type of training, businesses are more prepared to ramp up their production and need a healthy workforce to handle it. In this blog post, students will learn the importance of a supply chain management career. So, let us start with the fundamentals of supply chain management.

What is supply chain management?

Supply chain management is a network of entities involved in the process that begins with raw materials and leads to production, warehousing, distribution, and marketing. The goal is for distributors to get products into the hands of consumers efficiently by reducing costs while also maintaining product quality at all times. 

It is where supply chain management training comes in!

Supply Chain Management Training: Why it’s important?

SCM is a thorough understanding of demand and inventory management. How stock prices fluctuate based on market movements are just reasons companies should invest in staff members who have undergone supply chain management training.

Typically, students interested in this type of career can complete a Supply chain management online course that focuses extensively on business and marketing principles. Students will learn how processes can be improved by effectively providing resources at each stage of the distribution process, including manufacturing, warehousing, transportation, marketing, and distribution.

How A SCM Training Is Helpful During Pandemic

The importance of supply chain management gets neglected, but it is an integral part of any organization’s success. Good supply chains focus on internal processes and external factors such as suppliers, product development, finance & accounting, etc. They drive customer satisfaction by lowering risk exposure from poor quality or discrepancies with stock levels that might result from errors during production or logistics operations.

 The time when products arrive at their end destination should be minimum and consistent with the manufacturing time.  The quality of products needs to match customer expectations. The supply chain must reduce risk exposure caused by external factors such as poor weather conditions. It might affect transport costs or delays due to political events or strikes. 

 In many cases, this is important when companies lack capacity or because it makes sense from an operational cost-savings perspective. Since purchasing power may still help drive down costs and improve the bottom line. It is also an essential aspect of supply chain management. 

Why Enroll in SCM Program at Imarticus Learning

The Professional Certification in Supply Chain Management online course and Analytics is created in partnership with DoMS and E-learning Centre, IIT Roorkee, and industry professionals. Imarticus Learning aims to equip candidates interested in entering the operations and supply chain business with cutting-edge experience.

Supply Chain Analytics allows management to make data-driven choices at the strategic, operational, and tactical levels. There is a scarcity of experts with the process and analytical skills in the Supply Chain Management area. This credential prepares students for jobs such as Demand Planner, Data Scientist, Supply Planner, and Supply and Operations Planner, which are in high demand.

Some course USPs:

  • The Supply chain management course lets the students learn job-relevant skills that prepare them for an exciting Supply chain management career.
  • Impress employers & showcase skills with a certification endorsed by India’s most prestigious academic collaborations –  IIT Roorkee and Imarticus Learning.
  • World-Class Academic Professors to learn from through live online sessions and discussions. This will help students understand the practical implementation with real industry projects and assignments.

Understand Amazon’s Supply Chain

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Understand Amazon’s Supply Chain

If you are thinking of a supply chain management career, then you must learn how experts from different industries plan and execute their supply chains. One example of supply chain management that you can refer to is the American multinational e-commerce giant Amazon which has become a household name by winning the trust of millions of its customers.

Amazon made its debut in 1994 as a book-selling website. Today, it features one of the largest and most efficient supply chain models ever seen around the globe. How did Amazon achieve this? What are the fundamentals it focused on for the management of its supply chain? Let’s find out!

Before we get into the details of Amazon’s supply chain, an aspiring supply chain professional like you needs to get the conceptual basics correct so that you can understand these real-life examples well and in their entirety. 

For this, you may wish to enrol in our IIT Supply chain management certification course which equips you with the fundamental concepts of the field that are necessary for making data-driven strategic business decisions!

All About Amazon’s Supply Chain

Amazon’s Supply Chain refers to the entire process under which a product on offer by Amazon undergoes in its life journey. This is the process that starts right from the moment a product reaches Amazon’s warehouse, enters its inventory records, and goes on till the time it gets delivered to the customer.

To offer a robust platform to its suppliers, Amazon provides them with two types of fulfillment options – 

 

  • Fulfillment By Amazon (FBA) – Under this option, Amazon is responsible for storing, packaging, as well as shipping the product to the customer.
  • Fulfillment By Merchant (FBM) – Under this fulfillment option, the responsibility of storing the products in the warehouse, packing, and shipping them to the customers rests with the Merchant.

 

How Does Amazon Supply Chain Work?

Over the last 2 decades, Amazon has made several changes to the working of its supply chain, in a bid to crack an efficient system with which it can offer the fastest delivery options like same-delivery to its customers. 

As soon as Amazon receives an order, products get arranged into pallets either manually or with forklifts into the warehouses, where they get packed and screened for quality checks. After receiving a go-ahead from clearances, Amazon’s logistics team enters the supply chain and completes the delivery of the orders.

To achieve this efficiently, the e-commerce conglomerate puts its primary focus on two elements of the chain – Storage and Delivery. Let’s uncover how Amazon takes care of these two areas.

  • Storage 

Amazon has more than 20 Crore customers globally who have subscribed to its Prime membership, which means, it needs to deliver a huge number of its orders in just 1 day or a maximum time of 2 days.

To fulfill this promise of fast delivery, Amazon maintains a huge network of fulfillment centers for storing its products. Amazon currently has 185 fulfillment centers spread across different cities of the world with a carpet area of up to 10,00,000 square feet!

This huge storage capacity helps Amazon maintain a cutting edge over its competitors and maintain a smooth fulfillment of its orders. 

Another important aspect that Amazon has taken into consideration for its warehousing is its location. Most of its fulfillment centers are located near metropolitan cities from where it received huge and regular demand.

Moreover, to speed up warehouse operations, Amazon has deployed over 10 Lakh employees in its fulfillment centers globally. It also uses robots, drones, and other high-end technologies to run its warehouse ecosystem with greater efficiency. 

  • Delivery

The second most crucial segment of Amazon’s Supply Chain is its logistics and delivery teams. Amazon ships products mainly via two channels – road and air.  Amazon maintains a huge fleet of trucks, bikes, and vans for transporting products via roads. It has also partnered with various delivery services including FedEx and UPS.

Amazon also has a cargo airline of its own called Amazon Air which is used for transporting products. Amazon Air makes more than 160 flights every day with more than 85 planes, which include 11 Boeing Jets.

This is how Amazon can meet and many times exceed its customer’s expectations in terms of fulfillment and timely delivery of their orders!

Take Away

A Supply Chain Management System is an area that can either make or break a business. If you are interested in making an impact on a business by becoming a part of its supply chain decision-making, you must get a supply chain analytics certification today!

Want to know more about the supply chain management career options? Contact us through chat support or visit our nearest training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, 

Supply chain analyst : Salary, jobs, education, career advancement

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Supply chain analyst: Salary, jobs, education, career advancement

Supply chain analysts work with businesses to guarantee that the appropriate items, in the proper amounts, are delivered to consumers on time. These specialists are well compensated, but it is not a career for everyone. There are various stages you must take if you want to become a supply chain analyst.

What do supply chain analysts do?

Supply chain analysts work with various data to help companies improve their supply chains. They use data to provide insight into supply chain operations, design and implement solutions to improve supply chain efficiency and effectiveness, plan and implement supply chain strategies, influence and collaborate with stakeholders, identify opportunities for improvement, and more.

Your education level will depend on the position you’re applying for. You’ll need a bachelor’s degree in supply chain management, logistics, or business to be a supply chain analyst. Supply chain analysts with master’s degrees are called senior analysts and can earn more than those with bachelor’s degrees. 

What skills do supply chain analysts need?

Supply chain analysts must have a wide range of skills and knowledge. Employers look for candidates with the following qualifications:

  • Analytical skills. Supply chain analysts need to use Excel, data analysis, data visualization, and modeling tools to analyze supply chains and make recommendations for improvement.
  • Data science skills. Supply chain analysts may need to perform statistical analysis on large datasets containing sensitive information—such as financial or personal information—so they must understand privacy regulations such as GDPR (General Data Protection Regulation). 

How much money can supply chain analysts make?

Supply chain analysts are in high demand and can earn a decent salary. Supply chain analysts work in a variety of industries and locations. Some companies hire supply chain analysts from college, while others prefer candidates with experience in supply chain management or related fields. Supply chain analysts can expect to receive competitive benefits packages that include health insurance plans and paid time off for vacation days or sick leave.

Supply Chain Analyst Career Paths

There are different types of supply chain analyst jobs. You could be a supply chain analyst, a supply chain manager, or a supply chain management analyst. The supply chain management specialist is one of this career’s most common job titles. Here is what you can expect if you choose this career path:

  • Supply Chain Analyst—In charge of working with vendors and internal departments to ensure smooth operations within an organization.
  • Supply Chain Manager—Managed all aspects of the company’s supply chains, including inventory levels, transportation costs, and vendor relationships.
  • Supply Chain Management Analyst—Typically works closely with executives at companies to help them understand how their current systems work.

Explore a Career in Supply chain Management with Imarticus Learning

Supply Chain Analytics enables management to make data-driven choices at the strategic levels. Prepare to participate in the creation of more innovative and tactical global Supply Chains of the future by merging traditional Supply Chain planning with data-driven decision-making.

Course Benefits For Learners:

  • To provide students a complete understanding of the sector and position them for a prosperous future as certified Supply Chain analysts, we include them in significant technologies and initiatives, including six real-world projects.
  • By completing a supply chain management and analytics degree, students may prepare for highly sought-after positions such as demand planner or data scientist, which are in great demand!
  • Aspirants will learn to become data-centric and improve Supply Chain decision-making using the Python programming language.

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