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Tag: supply chain management online training

Supply chain analytics certification on the rise catalyzing new technological advancements in 2022

Posted on by Imarticus Learning
Reading Time: 3 minutes

Supply chain analytics, as a discipline, has existed for over a century now. But the associated applications, data infrastructure, and mathematical models have developed significantly with the advent of technology. Machine learning, the Internet of Things (IoT), predictive modeling, Complex Event Processing (CEP), and cloud infrastructure have greatly benefited the process of supply chain analytics. 

Organizations utilize supply chain analytics to acquire insight into their day-to-day operations and extract value from extensive amounts of data associated with the procurement, processing, and dispersal of manufactured goods. Due to an acute shortage of young professionals in the field of Supply Chain Management (SCM), Imarticus Learning has brought a supply chain analytics course for students to learn about the prospective sector. This article will give you a cursory understanding of supply chain analytics, its benefits, and why the demand for this course is seen on the rise. 

What is supply chain analytics?

Analytics denotes the capability to make data-driven decisions founded on an overview of authorized and pertinent data, often using visualization tools, such as charts, graphs, and diagrams. All large-scale corporations and start-ups have developed their supply chains to cut down on costs and to remain competitive in the business landscape. A supply chain refers to the extensive network of a company to distribute a specific product to its customer. This vast network includes all the procedures that begin with acquiring an order to meet the customer’s request, such as procurement, marketing, finance, customer service, distribution networks, and operations. 

As a result, supply chains generally yield enormous amounts of data. Supply chain analytics aids corporations to analyze all this data critically, generating insights, and locating patterns.

Different types of supply chain analytics

The various types of supply chain analytics have been briefly explained below –

 

  • Descriptive analytics

 

This type of supply chain analytics delivers visibility and acts as a single source of truth across the supply chain for both external and internal data systems. 

 

  • Predictive analytics

 

This type of supply chain analytics allows an institution to comprehend the most probable outcome and its implications on the business. For example, corporations use predictive analytics to project and mitigate perils and disturbances to their business models. 

 

  • Prescriptive analytics

 

This type of supply chain analytics enables organizations to decode problems and unite to gain maximum business value. It aids businesses in collaborating with logistic partners to cut down on time and effort to reduce disruptions.

 

  • Cognitive analytics

 

This type of supply chain analytics permits an organization to respond to complex questions in simple terms. Explaining complicated problems in layman’s terms will help a team hit upon the solution quicker. It helps businesses think through a difficult situation or problem, such as improvisations and optimizations of different aspects of the business. 

Benefits of supply chain analytics

Some of the major benefits of supply chain analytics are: 

 

  • Have a better understanding of risks

 

Supply chain analytics can help businesses pinpoint known risks and permit the prediction of future disruptions by identifying trends and common patterns throughout the supply chain.

 

  • Boost accuracy in future planning

 

By studying customer data, supply chain analytics can assist a business in better predicting future consumer demands. It enables an organization to determine the products to be cut off as they offer less profit and comprehend customer needs after their first order. 

 

  • Achieve an uncomplicated and lean supply chain

 

Corporations can utilize supply chain analytics to monitor and track partner responses, warehouses, and client needs. This will help them make sounder and well-informed future decisions for the betterment of the business. 

 

  • Get ready for the future

 

Many enterprises are looking for professionals with knowledge of advanced analytics. Familiarity with advanced analytics will help businesses process all types of complex data, mitigate risk factors at little expense and with less sustainability impact and help them optimize their decisions by ensuring timely alerts. 

Conclusion

With innovative technologies, such as Artificial Intelligence (AI), becoming more mainstream, corporations and start-ups are looking to hire more and more young professionals in the field of supply chain analytics. Due to an acute shortage of specialists, there is a rise in demand for certification courses of the discipline. Imarticus Learning’s Supply Chain Management course will tap into this new and prospective sector and help you build a supply chain management career with the assistance of various leaders and the expert faculty of DoMS and E-learning Centre, IIT Roorkee. 

Different types of supply chain analytics

Posted on by Imarticus Learning
Reading Time: 3 minutes

Large-scale corporations use the method of supply chain analytics to acquire deep insights and extract value from extensive quantities of data concerned with the processing, distribution, and procurement of goods.

Though it has existed as a discipline for over a century now, the data infrastructure, mathematical models, and applications have evolved remarkably over time. Accomplishing end-to-end supply chain analytics demands putting information together across the procurement of raw materials and extends through production, distribution, and aftermarket services. 

To cater to the growing demand in this field, Imarticus Learning has come up with Professional Certification in Supply Chain Management and Analytics. This Supply Chain Management course with Analytics furnishes candidates with a chance to work on 6 real-world projects and learn from the best faculty.

This article will give you an elementary understanding of different types of uncertainties managed in the supply chain and walk you through the various aspects of supply chain analytics. A supply chain analytics course training can give you an in-depth knowledge of this field.

Understanding supply chain analytics

Corporations need to analyze the deluge of information they gather from numerous applications affiliated with their supply chain. These include data from inventory, order warehouse management, procurement, transportation, and shipping costs.

The whole system of the supply chain acts like dominoes, with each step directly dependent on the other. Any problems at any step of the entire process can impact the overall result and hamper customer expectations. Supply chain analytics help you to analyze the data and ensure a smooth running of the total operation. 

Different types of supply chain analytics

There are mainly 3 types of supply chain analytics that will help you to in managing your business better:

  • Descriptive Analytics: These help you keep track of your daily operations and the changes required monthly.
  • Predictive Analytics: These provide you with an early warning so that you can gear up production, staffing, and procurement to fulfill the increase in demand.
  • Prescriptive Analytics: They provide suggestions so that you can maximize your inventory system performance and serve as the best posture for your entire inventory policy.

Best practices in supply chain analytics

If you are in the position of managing the supply chain of your trade firm, then these supply chain analytics practices will help you to optimize your decisions: 

  • Help you maintain your inventory history for accurate forecasts
  • Use the Product Life Cycle (PLC) to adapt your forecast
  • Use analytics to plan your shelf space and increase sales
  • Organize your prime hours with overlapping shifts
  • Help you identify the possibility of Full Truck Load (FTL) given various frequencies of replenishment

Key deliverables of supply chain analytics

Some of the key deliverables of supply chain analytics to boost your business are:

  • Reduce inventory and release cash 
  • Improve fill rates and deliver growth 
  • Eliminate wastages and improve margins 
  • Improve forecast accuracy 
  • Improve service levels 
  • Reduce cost to serve

Supply chain analytics compliance requirements

With your business expanding and integrating more and more technology suppliers, you will have to blend supplier compliance management into your all-around compliance agenda. Quality management systems (QMS) record the methods, strategies, and obligations for quality and control objectives.

They also include the management of vendor relationships. Try to concentrate on the most business-critical vendors first to uphold business continuity and protect your customers.

Some major supply chain analytics compliance requirements are: 

  • Define your control requirements in all Service Level Agreements (SLAs)
  • Try to set key performance indicators for monitoring your suppliers
  • Establish communications by moving to a shared digital portal

Conclusion

The field of supply chain management is an evolving one and promises a lot of scopes to grow and prosper. Take the Supply Chain Management course with Analytics by Imarticus Learning and become a supply chain analyst for a career of great promises, prosperity, and growth. 

A supply chain analytics certification with IIT, Roorkee can help students get into top positions in this field.

Here’s why you should choose supply chain planning as a career

Posted on by Imarticus Learning
Reading Time: 2 minutes

IIT supply chain management manages supply chain activities to optimize customer value and gain a last competitive advantage. Supply chain organizations deliberately attempt to construct and run supply chains most effectively and efficiently feasible. Product development, sourcing, production, and logistics are all covered by supply chain operations, as are the information systems required to coordinate them.

The supply chain analytics certification at Imarticus covers the following points:

  • The first is that almost every product that reaches a customer results from a collaboration between several firms. The supply chain refers to all of these businesses working together.
  • The second point is that, even though supply chains have been there for a long time, most businesses have solely focused on what happens within their “four walls.” Few companies comprehended, let alone managed, the complete chain of events that led to the final delivery of products to the client. As a result, supply chains have become disconnected and inefficient.
  • Further, the organizations connect with physical flows or information flows.

A physical flow transforms, transit, and storage of items and materials. They are the supply chain’s most visible component as the flow of information is crucial for every organization.

Information flows are essential for every organization as it governs the day-to-day flow of goods and materials moving around the supply chain.  The SCM program at Imarticus helps develop the strategy to take care of the needs and requirements of the customers.

How to Become a Supply Chain Analyst

Data collection is essential for working in any organization, but management and handling of data to be helpful in the organization is even more crucial. You can have a promising career in supply chain analytics.

So, what does supply chain analytics do? A supply chain analyst examines the flow of goods through a distribution system. The analyst looks for flaws in the current process and then works to find solutions to enhance it, ultimately boosting supply chain performance.

Further, analysts are essential at every level of the supply chain management process, including obtaining data, interpreting data, communicating with supervisors, peers, and subordinates, and facilitating decision-making.

Stages of Supply Chain Management

Every stage of supply chain management requires analysts. Analysts are critical in every aspect of the supply chain, from material procurement to network architecture and all in between. Here are some supply chain management stages (areas) to consider:

  • Raw material sourcing
  • Production planning
  • Inventory management
  • Demand planning
  • Distribution planning
  • Network design

Career Options at Supply Chain Management

Supply chain management is a lucrative career opportunity. By opting for SCM course at Imarticus, you have the following career options:

  • Sourcing analyst
  • Material analyst or material planner
  • Production analyst
  • Inventory analyst
  • Demand planning analyst
  • Deployment analyst
  • Transportation analyst
  • Supply chain modeling analyst

What learning supply chain management at the IITs is like (share like an experience)

Posted on by Imarticus Learning
Reading Time: 2 minutes

As a student of commerce, Supply chain management seems like a prospective career choice because of how lucrative the job role is in the market. Initially, as a rookie student with an interest in this field, I was more drawn towards this sector because of how in-demand this job role is. To elaborate, expert professionals in the supply chain sector are mainly involved in the management of the entire production flow of goods and services, between locations and businesses. It is also inclusive of the storage and movement of raw materials, inventory, and even finished goods. 

To make it big in Supply Chain Management, a background or a qualification in this field is a mandate. Students with commerce backgrounds are open to choosing any specialization or field they want after graduation or finishing higher studies. A professional six-month program in Supply Chain Management from IIT has indeed been a life-changing course. As expected from a top-tier premier institute like IIT, it is truly the best that one can go for if they want to make it big in this industry. 

Key Highlights of This Course

Needless to say, the very mention of IIT in your CV is bound to give your career a boost amongst the numerous candidates who apply for the same job role you are aiming for. Speaking from experience, it is an advantage over other potential candidates in this field. Down below is a list of some of the reasons why taking up this course has been one of the best decisions: –

Premium Faculty

As far as personal experience goes, studying a course in IIT has been more than an honor. It has lived up to every expectation because of the premium faculties in Supply Chain Management. One to one session with expert IIT faculty has indeed helped grasp the key concepts that are a mandate in this field.

Exclusively Designed by Professionals

This 6-months program is professionally designed by industry experts and IIT faculty for students to learn. Job roles involving e-commerce are increasing day by day because of the increasing amount of movement of goods and services. This has led to an increase in demand for supply chain management professionals. With the number of job roles that have increased for Supply Chain Management worldwide, it has indeed made it better for students with this certification. With more opportunities in the market, nailing a job has become much easier thanks to the IIT affiliation as well. 

Gaining Experience Through Learning

This course is designed to make you solve real-industry problems that will give you a simulation of working in the field itself. This experience is extremely helpful in understanding crucial concepts, developing skillsets that prove beneficial for professionals in this field, and even having a thorough grasp of business contexts as well. 

Campus Immersion 

You can participate in the three-day campus Immersion module to visit the IIT Roorkee campus. You can interact with peers and learn from the IIT faculty during the campus immersion. Visit the Delhi or Noida campus and work on the Capstone Project under the esteemed guidance of professional mentors.

Big Data and Analytics Knowledge

Supply chains are hubs of massive datasets making them a part of Big Data. This course had helped not only in training traditional techniques of Supply Chain management but has even implemented a data-centric approach to SCM-related decision-making.

Conclusion

Being fresh alumni of this elite supply chain and analytics management course is bound to take your supply chain career to heights you’ve never imagined. Enroll in the from Imarticus.

In the driver’s seat: Driving value realization in supply chain analytics courses

Posted on by Imarticus Learning
Reading Time: 3 minutes

The supply chain system is a build-up of many aspects put together — from demand to manufacturing to transportation and many more. These aspects together are called the drivers in the supply chain system. As such, their value in the system is irreplaceable. This is why learning about them or realizing their value is essential if you are thinking about a career in SCM.

For that, what is primary is for you to pursue a course on supply chain analytics that will help you cover all the basics. Thankfully, a lot of institutions in India offer a compact supply chain analytics course that will help you get ahead in your career. 

Imarticus Learning, with its years of experience and placement offers, ranks in one of the topmost positions. Their supply chain management course with analytics will not only help you become a supply chain analyst with highly sought-after skills but their placement offers will help you to land a job in your dream sector right from the get-go. Here, we are going to talk about the value realization of the drivers in the supply chain management system and how supply chain analytics courses should focus on them in detail. Please read the whole article to learn more.

Production

One of the major aspects or drivers of the supply chain management process is, of course, production. That includes, what is produced, how much is produced, and also the whole manufacturing process through which it is produced. As such, in the supply chain analytics course, realizing the value of this driver is imperative. 

Inventory

Source materials, products still in the manufacturing process, as well as finished products are referred to as inventory in the supply chain management system. Their value lies in determining the storage places as it directly impacts the responsiveness of the supply chain as well as the retailer’s efficiency. As any change in the inventory greatly affects the supply chain system, their value realization in the supply chain analytics course puts the students way ahead in their careers.

Shipment

Shipment or transportation is yet another core driver of the supply chain management system. The inventory is moved from one place to another through transportation means. As such, its importance is quite irreplaceable in the system. The modes of transportation greatly affect the efficiency as well as the responsiveness of the system. Learning about how to manage a smoother and more efficient mode of transportation in the supply chain analytics course will help the students immensely in their careers later.

Factory Location

Facilities or factories are the places where inventory is stored to assemble them into finished products. As such, deciding their location, capacity, as well as adjustability of the facilities, will impact the supply chain management system massively. Learning to make such decisions quickly and as accurately as possible is one of the most sought-after qualities in a supply chain analyst. Their value realization in the analytics course is a huge way to move forward in your career.

Information

Information, by far, is possibly one of the most important drivers in the supply chain management system. It consists of data regarding inventory, facilities as well as transportation, and clients throughout all the points in the supply chain. As it affects all the other drivers in the supply chain it is absolutely necessary for making the system highly efficient and responsive. As such, learning how to read, store, and analyze said data is one of the skills that make an efficient supply chain analyst. 

Conclusion

Driving value realization is an important part of the supply chain analytics course as it directly impacts how the students will perform in their careers later on. Thankfully, with Imarticus Learning’s IIT supply chain management and analysis course, you can now have all these basics covered and get the boost you need in your career.

Here’s how digital transformation will impact supply chain analytics course training

Posted on by Imarticus Learning
Reading Time: 3 minutes

The recent tide of digitization has impacted all corporate sectors heavily. And the supply chain management sector is not left behind. From logistics, and manufacturing to customer satisfaction, digitization has impacted this sector massively. Now the question stands at what changes or impacts digitization has had on the supply chain analytics course training.

Obviously, with a new form of trading system, the training for that is also going to enhance or differ from the traditional system a bit. The best thing you can do here if you are interested in a supply chain analytics career is to pursue a proper supply chain analytics course training. 

A lot of institutes in India offer a stellar supply chain analytics certification course. Imarticus Learning with their incorporated IIT supply chain management course will help you hone your skills to the max. Not only that, but their real industrial exposure and placement offers will help you start your career right off the bat with great opportunities. Here, we are going to talk about how digitization will impact the supply chain analytics course training and what students will be learning in this training. Please go through the whole article to learn more.

Real industrial case files

An approach to teach and learn about the supply chain system with real industrial cases. These include but are not limited to topics related to procurement, warehousing, production, and distribution as well as planning. This segment will elaborate on how digitization can and will help in the betterment of these processes. So that they run smoothly, efficiently and stay up to par with customers’ needs.

Supply chain analytics and more

Digitization of the supply chain analytics will also need the professionals to have a skill set that can provide the companies help with any problems they might be facing in the digital analytics department. For that, a training course will need to focus on supply chain analytics, inventory management as well as machine learning forecasting, and so on.

A managerial approach to cases

Another thing the courses will have to focus on is a managerial approach to real industrial cases. Although a digitization process seems at its heart tech-centric, in the supply chain management sector, what needs to be done is to build management professionals who can maintain the smooth flow of operations through advanced digital means.

Intelligent optimization techniques

With intelligent transportation, logistics network design, transshipment, drones as well as linear programming and sensitivity, students are going to enhance their skills of supply chain optimization techniques in their course training with models. This will ultimately help them tackle real problems of the industry later on in their careers.

The cyber designing system

Students will also need to learn about the basics of cyber designing systems. That is, they will need to learn how to build as well as interpret a linear model to predict trends. With digitization impacting the course, the segment will focus on visualization techniques as well as pre-processing. Data collection and analysis are a crucial part of the model-building process.

Big data analytics

As the market moves forward to more niche problems, big data comes in to solve many of them. At once, the impact, as well as the value of inventory analytics in this process, is irreplaceable. By storing and analyzing this, it provides a lot of insight into the past trends, present conditions as well as future predictions. The training will be focusing on value, tools, and trends as well as the economic indication and financial performance of the inventory management. 

Conclusion

Digitization of the supply chain management is a big step forward to make the system transparent and customer-friendly. For people looking into a career in this sector, check out Imarticus Learning’s supply chain management certification course and give your career the push it needs.

How to succeed in your supply chain management and analytics job search

Posted on by Imarticus Learning
Reading Time: 3 minutes

Introduction

The field of supply chain management is exploding. Several new technologies are coming into the space, making it a very lucrative industry. From e-commerce companies to manufacturing companies, all of them use supply chain planning and management. If you want to make a successful career in supply chain management, you can take a supply chain management course with analytics and make yourself ready for the industry. 

There are hundreds of opportunities in the supply chain management area. You can either become a supply chain analyst or a manager in the area based on your experience. Let’s check out how you can make a career in supply chain management.

Making a Career in Supply Chain Management

If you are willing to succeed in supply chain management, you will have to brace yourself for an incredibly high-paced environment. You’ll have to figure out how to save money on inventory and shipping. However, you must prioritize customer service in everything you do. You’ll also have to deal with rising manufacturing costs and monitor the entire process. To summarise, to get the supply management career of your dreams, you’ll need a diverse set of talents.

Understand the career paths

The tasks of supply chain management are numerous. It all depends on the particular career route you choose. You must take some time and do your study to find a course that you can stick with. You can go for a supply chain analytics course training to make yourself aware of the job.

You can also work as a supply chain analyst, which entails tracking and analyzing a portion of the supply chain. You’ll also need to concentrate on process streamlining and ongoing improvement. Working as a buying manager, you’d be in charge of supplier interactions and contract negotiations. You could also work as a Demand Planner, Supply Planner, Transportation Analyst, or Inventory Specialist.

Highlight your skills on your resume

You’ll need to demonstrate softer qualities in addition to your great data analysis and financial prowess. Update your resume to reflect a commitment to effective communication. Include anything that has to do with relationship management and bargaining.

You should also demonstrate that you pay close attention to details. This is crucial because you’ll almost certainly have to undertake site audits. You can also compare and contrast various modes of transportation. To kickstart your supply chain management career, you may need to develop some of these talents. Look through internet job postings and recruitment websites to learn more about these changes.

Compensate for your lack of experience

It will be challenging to transition directly from a logistics course or a profession in a related field to supply chain management. Still, there are methods to compensate for the lack of experience. Internships are one way to get into a supply chain management field that requires prior experience, but they’re generally out of reach for experienced professionals wishing to change careers.

Training and certificate courses, which involve a minimal time commitment and provide a résumé, are an alternate kind of education offered.

Conclusion

We at Imarticus are known for our supply chain management courses. Several SCM courses will help you crack the industry code and then perform well in the industry. We also offer a Professional Certification in Supply Chain Management and Analytics by IIT Roorkee.

This course highlights everything that is there to know about supply chain management, and it also covers the application of analytics in the course. You can take up this course if you are interested in having a career in supply chain management. You will also get a certificate on the completion of the course, which you can showcase in front of the recruiters. It’s time to enroll in the course!

Overcoming privacy challenges in supply chain planning

Posted on by Imarticus Learning
Reading Time: 3 minutes

Introduction

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

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

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

Ways in which privacy challenges can be tackled 

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

 

  • Go Digital

 

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

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

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

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

 

  • Encryption and Identification of Data

 

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

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

 

  • Risk Management through third-party

 

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

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

Conclusion

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

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

How blockchain is adding transparency and efficiency to supply chain management

Posted on by Imarticus Learning
Reading Time: 3 minutes

Blockchain technology is quickly becoming one of the most important innovations in recent history. It has the power to transform every sector, from manufacturing to finance and more. Blockchain can help businesses streamline their supply chain management by providing transparency while reducing costs for all parties involved. 

This blog post will explore how blockchain benefits supply chain management and why it is essential for business owners to understand this new technology!

What is blockchain, and how does it work?

The blockchain is a technology that stores information in blocks, each block containing data of any size. Once data is stored, it can’t be changed or removed. It makes the blockchain incredibly secure and tamper-proof.

Blockchain is the world’s leading software platform for digital assets. Offering the largest production blockchain platform globally, we are using new technology to build a radically better financial system. Blockchain enables transformation across every business, government, and institution.

One of the key ways to use blockchain in supply chain management is to add transparency and efficiency. Blockchain can help businesses keep track of their inventory and get the best deals on supplies by creating a tamper-proof ledger of transactions. Additionally, blockchain can help companies save money and time by reducing the need for intermediaries.

What are some of the benefits of using blockchain in supply chain management?

The key benefits of using blockchain in supply chain management include increased transparency, reduced costs, and improved efficiency. By creating a shared ledger of tamper-proof and secure transactions, businesses can reduce the need for intermediaries and create a more efficient supply chain.

As it becomes easier for businesses to track the provenance of their products, consumers can also feel confident that they are buying ethically sourced goods. For example, if someone buys diamonds mined in South Africa on De Beers’ blockchain-based platform Tracr, they will be able to trace the provenance of those diamonds through that supply chain.

The ability to track goods from origin to end-user means a more transparent and therefore traceable product journey, enabling businesses to prove compliance with governmental regulations for food safety, quality assurance, or other aspects of their offerings. 

What challenges need to get addressed before you can widely adopt blockchain in supply chain management?

 One of the key challenges is that blockchain is still in its early stages, and many businesses are unsure how to implement it. Additionally, there are some concerns around security and privacy when sharing data on a blockchain network.

Another challenge facing blockchain in supply chain management is the lack of standardization. Because different businesses use different blockchains, it cannot be easy to transfer data between them. You could address it by developing a universal standard for blockchain technology.

Explore Supply chain Management Career with Imarticus Learning.

Supply chain management certification online is in partnership with DoMS and E-learning Centre, IIT Roorkee, and industry professionals to equip candidates interested in entering the operations and supply chain business with a cutting-edge experience.

Course Benefits For Learners

  • Supply chain management online course prepares students for jobs such as Demand Planner, Data Scientist, Supply Planner, and Supply and Operations Planner, which are in great demand.supply chain management courses

     

  • With a certification authorized by one of the top-ranked IITs, IIT Roorkee, students can impress employers and demonstrate their new-age SCM and Analytics abilities. 
  • Students Attend 1:1 mentorship sessions and get their questions addressed by Supply Chain Management industry leaders.

Procurement- Switch your focus from sourcing to supply chain management and analytics

Posted on by Imarticus Learning
Reading Time: 2 minutes

The world of procurement has changed dramatically in the past decade. With an increasing shortage of skilled labor and a rising global economy, companies are experiencing growing pains trying to keep up with the demands for goods and services. 

One way to meet these challenges is by adopting new procurement methods to serve your organization’s needs better. This blog post discusses how to start focusing on supply chain management and analytics instead of just sourcing materials for production! 

What is supply chain management?

Supply chain management is the process of planning, organizing, and managing the flow of materials and goods from supplier to consumer. It includes forecasting demand, coordinating production schedules, managing inventory levels, and ensuring that products are delivered on time and in good condition. 

The reason to focus on supply chain management is that it allows you to optimize your entire production process. By understanding how the different parts of the supply chain interact, you can identify and address any inefficiencies. It will help you reduce costs, improve quality, and increase production speed. In addition, you can use supply chain analytics to make better decisions about where to allocate resources and how to respond to market fluctuations.

The benefits of focusing on supply chain management 

The main challenge in focusing on supply chain management is that it requires a lot of time and effort to set up and optimize. Getting everyone on board with the new approach can also be challenging. However, with careful planning and execution, the benefits of supply chain management will far outweigh the costs. 

Some of the benefits include:

  • Reduced manufacturing and inventory costs
  • Improved quality and speed of production
  • More accurate forecasting of demand
  • Easier identification and resolution of problems in the supply chain
  • Greater flexibility to respond to changes in the marketplace

How to start focusing on supply chain management?

Focusing on supply chain management is not easy, and it will take some time to design your system correctly. One way that you can start making this transition is by setting up a dedicated team within procurement. This team should create an overall strategy and work with other departments (such as engineering) to implement changes. You will also need to invest in the right tools and software to help you manage your supply chain.

The procurement world is changing, and those who don’t adapt will be left behind. By switching your focus from sourcing materials to managing the entire supply chain, you can improve efficiency, reduce costs, and stay ahead of the competition.

Explore Supply chain Management Career with Imarticus Learning.

The supply chain management course with analytics offers an experience beyond just classroom learning – our partnerships allow candidates interested in entering this hands-on field training from some of today’s top professionals!

Course Benefits For Learners:

  • We prepare students for a rewarding career in Supply Chain Analytics course by immersing themselves in six real-world projects that will provide them with a thorough understanding of the sector. 
  • Supply chain management course prepares students for competitive jobs such as Demand Planner or Data Scientist, which employers today have in high demand! 
  • By utilizing the power of Python, this course will help students become more data-centric and enhance Supply Chain decision-making.