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Tag: supply chain management online training

Why is blockchain important in logistics management?

Posted on by Imarticus Learning
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Blockchain is a new technology that will play an important role in logistics management. By utilizing Blockchain, we can streamline the process and reduce paperwork, time, and costs associated with international trade.

 Blockchain will also make it easier to track the status of shipments as they move from one country to another. This blog post will go through the overview of Blockchain and the benefits of using Blockchain in logistics management.

What is Blockchain?

Blockchain is an automated record-keeping system that makes it possible to improve supply chain efficiency, reduce costs and increase transparency. You can use Blockchain to track shipments across borders by recording the origin, destination, location, timestamps, and other essential data points. 

By utilizing distributed ledger technology (DLT), Blockchain creates an immutable and transparent record of all transactions. It allows for improved trust and collaboration among supply chain partners.

Blockchain is still a new technology, but several companies are already exploring its potential in logistics management. Blockchain has a lot of prospects to revolutionize the logistics industry, and we can see more companies adopting this technology in the coming years.

The benefits of using Blockchain in logistics management are:

  • Increased transparency and trust between supply chain partners
  • Faster, more accurate data sharing across the supply chain
  • Reduced costs and improved efficiency due to reduced paperwork and faster processing times
  • Greater visibility of the entire supply chain, from supplier to customer.
  • Improved security against cyber threats.

How to implement Blockchain in your business?

To implement Blockchain in your business, you need to understand how it works. First, a user or machine creates a block with a unique cryptographic hash. This block contains data and a reference to the previous block.

Blocks are chained together, forming a blockchain, which allows for secure and transparent recording of transactions. Every machine on the network has a full copy of the Blockchain to ensure all members agree and that no one can add or remove blocks without consensus from other network participants. 

This way, it’s impossible for someone to tamper with information recorded on the Blockchain because they would have to change every record across each block on the network.

The future of Blockchain in logistics management is bright. Blockchain technology may change a lot of supply chains across all industries in ways unimaginable today. Blockchain increases the transparency and trust among logistics managers, suppliers, and customers. 

Discover Supply chain Management course with Imarticus Learning.

The logistics and supply chain management course 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!

Supply Chain Analytics is the key to making data-driven strategic, operational, and tactical decisions. 

Course Benefits For Learners:

  • We prepare students for a rewarding career in Supply Chain Management and Analytics by immersing themselves in in-demand tools and projects, including six real-world projects that will provide them with a thorough understanding of the sector. 

     

  • Supply chain management online 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.

Supply chain management courses on the rise catalyzing blockchain to leverage potential

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Reading Time: 2 minutes

Implementing blockchain technology is a new and promising way to present opportunities to improve the supply chain and related management process of any company. Notably, blockchain is a distributed database that is specifically used for the electronic storage of information that cannot be changed or deleted.

In the supply chain, the implementation of blockchain technology indeed gives it an added boost in order to improve the traceability and transparency in the supply chain as well as to reduce unnecessary administrative costs. 

Blockchain has gained global popularity. Many startups and corporations are also considering venturing into the use of this technology outside the industry of financial services. An example is Provenance, which is a startup specializing in supply chain transparency and finished a 6-month pilot project for keeping a track of the reliable tuna sourcing in Indonesia through blockchain. 

How has blockchain been integrated into the supply chain management system?

Blockchain in the supply chain is still under the experimental stage. And so far, it has helped participants record important relevant information like price, location, certification, date, and quality to efficiently run the supply chain management system. The availability of such information within the blockchain system increases the traceability of the material in the supply chain and reduces the chance of losses. It further enhances the organization’s position as a leader in reliable manufacturing. 

Top blockchain in supply chain management courses online

Blockchain will most likely dominate the supply chain industry due to it streamlining the processes involved. This will create a demand for more blockchain developers in the supply management industry. If you are looking for some reliable courses, then here are a few:

Blockchain in supply chain management: In this course, you will learn the ways in which blockchain technology is being implemented in supply chain management to efficiently deliver secure and transparent supply chains. You will be given in-depth knowledge of what blockchain is and how it has been implemented in supply chain management (SCM). You will additionally get to explore actual business use cases where blockchain is applied in SCM. You will be taught the necessary steps for implementing blockchain in your supply chain. 

 

Certified supply chain professional and blockchain training: Blockchain is a disruptive technology that has been deployed in a multitude of domains to optimize countless processes. Since there is a rising demand for blockchain professionals in the supply chain industry, a special certification is a proof that you are more competent and are sure to have an advantage over others.

This course is designed to guide anyone in creating solutions that can have an impact in every possible facet of the supply chain. It is professional training that deals with providing you with the necessary knowledge of how blockchain can be utilized for increasing revenue, decreasing costs, and improving other factors like quality and production.

 

Needless to say, there is a rising demand for blockchain developers and experts. And in the coming years, it has the potential to provide prospects to individuals just starting off. A supply chain management career is one of the best fields to venture into and is highly promising with a good amount of job satisfaction. Therefore, if you want a supply chain certification to kickstart your career in the domain, then you can opt for a good supply chain analytics course.

Adopting a data-driven approach to supply chain certification courses

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Reading Time: 3 minutes

Supply chain analytics is an integral part of SCM (supply chain management) which is entirely data-driven. It primarily depends on gaining insights and values from the huge amounts of data related to various supply chains management elements like procurement, processing, and distribution of commodities. 

Further, supply chain analytics is involved in the collection and compilation of relevant data from across various applications, third-party sources, infrastructure, and upcoming technologies. This improves the quality of tactical and strategic decision-making in supply chain management. You can get better at it by enrolling in a comprehensive supply chain certification course. 

Besides, supply chain analytics also aids in the synchronization of planning and execution by enhancing real-time visibility into these methods and the impact they have on customers. Increased visibility leads to the increase in flexibility in a supply chain network that eventually helps decision-makers to efficiently evaluate tradeoffs amongst customer service and the cost.

How is supply chain analytics related to supply chain management?

Supply chain analytics plays an integral part in supply chain management because it has the ability to think about and make data-driven decisions on the basis of the summary of trusted and relevant data. Since supply chains generate huge amounts of data, supply chain analytics decipher the data to make sense of it and uncover insights and patterns. This is how supply chain management is dependent on supply chain analysis. 

Courses related to supply chain analytics

We can already conclude that a supply chain cannot exist without supply chain analysis. If you are enthusiastic about supply chain management as well as data analysis, then here are some courses that will give you a better insight into the data-driven approach to supply chain management. 

Supply chain analytics certification: This course is meant for individuals who want to learn about how to integrate supply chain management with data analytics. It will help you discover, determine and solve problems in various sectors of a supply chain. Additionally, you will develop data analytics skills and learn how to use tools for improving supply chain performance.

 

Big data analysis and machine learning: This certification will give you added leverage as you will be taught how to use most of the data science tools and techniques that are in demand to make yourself ready for the job market. You will develop important and valuable skills in Python, data analytics, SQL, data visualization with Tableau, and machine learning.

Real industry problems with real industry projects: A business analyst’s role is to prescribe the ultimate solution to any problem and this analytics course emphasises teaching and building up this quality. This course will teach you how to take data and models and connect them to real-world scenarios requiring decision-making in the supply chain and other areas like finance, manufacturing, and human resource management.

Predictive analytics for demand forecasting: Data is the basic raw material that is highly dependent on predictive analysis for understanding it and effectively utilizing it. This specialization helps learners recognize the primary components of predictive analysis which include monitoring big data at any given moment.

It also teaches the importance of Tableau that provides particular views of minuscule events or connects information to the recent forecasts and trends in order to ensure efficient allocation of resources and improve effectiveness.

Supply chain management is a job role that also requires the efficient handling of large amounts of data sometimes. Professional certification in supply chain management or any top-tier supply chain certification will help in acquiring the necessary skills to fit the bill.

It ought to equip you with the knowledge and skillsets that you will require in your journey into supply chain management. You can opt for good courses offering certification in supply chain management online with Imarticus Learning.

Changing career paths: A developer’s journey towards supply chain management courses

Posted on by Imarticus Learning
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To meet the demand of a customer for a product or service, there is a chain of procedures involved such as Sourcing, Warehouse, Distribution, and the like. Effective management of these processes is called Supply Chain Management. Supply Chain Management is crucial in most businesses where professionals are required to manage and handle not only the flow of information but most importantly the flow of their products, as per the behavioural changes in consumers.

Just like changing industrial trends and customer behaviour, career paths are subject to change as well. You may find interest in a supply chain as a career even without any qualification or formal training and even if you are from a different industry and a different sphere. As impossible and risky as it may seem, all it takes is having faith in yourself. Here are some skills you will require to excel in Supply Chain Management.

Mandatory Supply Chain Management Skills:

  1. Creative Mindset: You need to come up with unique ways to improve your current role and also help reduce waste. 
  2. Have Computer Skills And Knowledge of Data Management:  You will need good computer skills to handle, understand, analyze, utilize, and manage data. 
  3. High Learning Aptitude: You will need to learn new concepts on the daily basis and use them to improve the process. 
  4. Working in a Team and Leadership Skills:  Supply Chain Management requires good leadership and management skills to not only manage tasks but also improve the efficiency of the team as well. 
  5. Customer Service Skills: Supply chain managers are required to make client rosters. To build such relationships with the suppliers, excellent customer service skills are a must-have. 
  6. Enterprise resource planning (ERP) mastery: Supply Chain Managers use ERP software to execute their job and you can attain these high-level skills through training on the job and tutorials or a certificate course in supply chain management.

Why Take-up SCM Courses?

For a detailed introduction to the world of Supply Chain Management, it is highly recommended that you take up a Supply chain Management course especially if you are planning to change your career field. It will give you a better understanding of how it works and the various complexities related to it in today’s global networked economy. 

A specialization in Supply Chain Management is made up of four courses. They are in operations, logistics, sourcing, planning, and strategy. A Supply Chain Management course will not only help you develop the aforementioned points, but also will cover the technical aspects required to optimize flow, and also the Lean practices and Six Sigma quality. You will gain vast knowledge on various forecasting techniques, and also how to create reliable and productive relationships with suppliers. 

Great Career Opportunities Supply Chain Management (SCM) Courses Provide

A Qualification in Supply Chain Management (SCM) provides a plethora of opportunities and the job roles are as follows. 

  1. Purchase Manager: A Purchase Manager is required to procure goods and services. 
  2. Strategic Planner: The job role of a Strategic Planner involves planning and coming up with a business strategy. 
  3. Materials Analyst: A Material analyst is required to make sure that the flow of goods and services amongst a company’s distribution chains go seamlessly. 
  4. Supply Chain Manager: Supply chain management is the main man in the manufacturing process. 
  5. Warehousing Manager: Warehouse managers are required to manage things like storage, receipt, and dispatch of the goods. 

Conclusion:

A career in Supply Chain Management ought to take you places. A reliable supply chain management training course is what you will need to kick-start your SCM journey to success. Keeping in mind the points mentioned above. 

Why digitizing supply chain management courses will yield greater efficiency in the new normal?

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Why digitizing supply chain management courses will yield greater efficiency in the new normal?

Digitizing the supply chain management system has helped the companies reduce their operational cost and have managed to save more time. This drastic change has increased their overall efficiency. This has become the new normal almost everywhere across the world. 

Does this strategy of digitalization benefit the supply chain management courses as well? Are the SCM online courses as efficient as earlier? Let’s find out!

Online Supply Chain Management courses

Digitization has helped automate the various operations across the various levels of a supply chain. It is also only fitting to digitalize the management courses of such operations and business. The various SCM courses available online provide a curriculum that includes the latest technology in this field. 

For example, the supply chain management online course offered here at Imarticus Learning is created in collaboration with the IIT Roorkee. The course curriculum includes the metrics of the supply chain along with areas such as demand and supply, distribution network, sales and operations, optimal product level, etc. 

The concepts of all these areas are provided by experts in the industry through live interactive sessions and practical sessions so that there is no compromise on the quality of education. There will be continued assessments and assignments to keep track of your progress.

 Online or on-campus? 

Being an online course doesn’t mean that it is similar to on-campus courses, In fact, the Professional Certification In Supply Chain Management & Analytics with IIT, Roorkee offers this wonderful opportunity to have an on-campus experience for the students.  

Moreover, the Capstone project at the end of the courses allows you to work at the campus either in Delhi or Noida. It will be ideal to work with professional mentors and understand more about the industry to have a wonderful start in your supply chain management career. 

So it doesn’t make any major difference between the offline or online courses as both of them cover a similar curriculum. The project will be working with real-life issues inspired by leading companies. The result will be that you are ready with all the necessary job skills required to do well in the supply chain industry. 

How do online courses prepare you for SCM?

Online courses for SCM and other related topics are widely available. The biggest advantage of online courses is that they are available with the latest technologies and changes related to what is happening in the industry. 

They can be quickly tailor-made to accommodate all sorts of job profiles depending upon their demand in the market. Such tailor-made courses help the candidates be more suitable to deal with big data, automation, and other technologies. 

What helps is to prepare aspirants for the particular jobs with the right kind of knowledge to help them get a better edge over others in the same pool. Physical courses do not have this advantage as it can take longer for them to come up with the necessary tools. 

Conclusion

Due to the ongoing pandemic, digitization is the new normal in almost all industries. It has become a part of our lives. The availability of SCM online courses has increased the availability and efficiency of the various aspirants and candidates for the different job opportunities in this industry.

From the supply chain management training perspective, it doesn’t matter how or where the candidate was trained. All it matters is whether or not they are qualified. 

10 top strategies to better sustainable supply chain management and analytics

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The supply chain management training will help you become a professional in this industry in the form of a Supply Planning Analyst or a Logistics Manager. At the same time, they will also give you a clear idea about all the processes and operations pertaining to the daily operations of this industry.

So you will know that sustainability is important for the supply chain industry but the process can be complex. 

Here are the top 10 strategies that can help achieve sustainability. 

  • Commitment in all levels 

Ensure commitment from all the stakeholders from top to bottom such as the partners, employees, third-party entities, customers, etc. Only the complete backing of all parties involved will bring success. 

  • Create a proper plan

Whether it is the business case to start the business or understanding the challenges that are likely to appear, companies must have a clear-cut plan for their progress and expectations. It is also important to communicate those expectations to everyone concerned. 

  • Establish a code of conduct

Supply Chain Management career is one of those areas that give importance to regulations and conduct to win the trust of customers and the public. The core of sustainability will have values as its chief driving force so it is important to ensure that a code of conduct is set. Sometimes a new set is not necessary, one could also make use of the already available regulations. 

  • Accept criticism

Objective criticism is a crucial building block for a sustainable supply chain. Accept them well enough and also seek advice from NGOs or other organizations to understand the initiatives that can achieve your goal in sustainability. 

  • Utilize the metrics

In the Supply chain management course with analytics such as the Professional Certification In Supply Chain Management & Analytics here at Imarticus, you will learn how to use the metrics and data from the various resources. Use them well to fine-tune the operations and performance. 

  • Assess the third-parties

Since accountability is an important asset in the supply chain, assess and measure all the third parties to judge their performance and can choose to replace them if they don’t meet the standard.  

  • Cooperation with other companies

Leverage the relationships with other companies that fit the existing regulations and framework of the industry. 

  • Use capacity-building programs

Giving proper training to the employees will be fruitful and improve their performance. Also include some programs that help them achieve their goals and work smoother. 

  • Performance assessment

Constant performance assessment of the third parties is equally important as that of the employees. A bad decision or a mistake from one level can affect all the related levels as well. 

  • Adopt transparency

The most important factor that affects the success of a supply chain and its ability to achieve sustainability is its transparency. 

How can supply chain management and analytics courses help?

It may seem unrelated but the supply chain is a collaboration of different stakeholders at various levels. People at each level must have a clear understanding of the operations involved here. Those who are on the medium to higher levels may also need to work with data and these SCM certifications courses help them understand the nuances very well. 

The bottom Line

The supply chain is a complex industry that needs the trust and support of its customers. The best way to gain their trust is sustainability. Sustainability shows their commitment towards customers. That will help them gain their social license and maintain it too. 

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

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

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

The benefits of integrating the three technologies go beyond SCM

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

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

Some Other Benefits Listed!

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

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

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

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

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

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

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

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

Boost Your Supply Chain Management Career with Imarticus Learning

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

Course USPs:

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

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

How is RPA impacting the supply chain management and analytics industry?

Posted on by Imarticus Learning
Reading Time: 2 minutes

RPA stands for Robotic Process Automation, which is a new system used in supply chain management systems. RPA automates those processes that are otherwise operated manually. This reduces errors and anomalies drastically. It allows the companies to utilize their employees for actual brainstorming rather than correcting the various issues on a regular basis. 

RPA has had a major impact on the daily operations of a supply chain system with its productivity increasing many folds in recent times. If you intend to choose a supply chain management course with analytics, having a general idea about its impact will be beneficial. 

Pros and Cons of RPA in the SCM industry

It has not been long since RPA was used in SCM so it may not be time to judge it to be a good or bad move. But it has been in use for a while to see what are its advantages and drawbacks.

Benefits of RPA in SCM

  • Order processing and payment

Processing the orders and tracking the payments are some of the most difficult tasks in the supply chain system. But automating both of these, companies can save time and effort while making it simple for the customers or the company to keep track. The automation includes timely processing of the orders and sending out bills through emails and text messages. 

  • Communications

It is important to keep track of the processes and inform the involved parties about the progress or delays concerning the shipments, etc. The automated email system sends out emails whenever an order is placed, the product is shipped, or out for delivery. Such automation makes the system transparent and reliable. 

  • Inventory management

Every certificate course in supply chain management teaches that this is the most important department of the supply chain. Inventory management is a major part of the supply chain and by automating this department, companies can ensure the balance of supply and demand. The automated system can send notifications for low levels of stock and reordering processes. It could also use historical data to predict the inventory levels depending on the demand. 

  • Shipment status

 Communication of the shipment status could be completely automated right from the opening line of the email to assessing what the customer expects from such communication. Sending out the regular updates of the shipment is one such example and it will require minimal human intervention and only on some rare occasions.

  • Supply and demand planning

RPA helps gather, compile, analyze, and present the data for the regular planning for supply according to the demand. By using AI and ML, reduces common human errors and makes the system more efficient. 

Drawbacks of RPA in SCM

Rather than considering it as a drawback it would be better seen as a challenge that could have a solution in the near future. The common issues with RPA in SCM are 

  • Standardizing the processes even with proper documentation
  • Need for constant IT support
  • Keeping up with the expectations of stakeholders and gaining their trust to implement the RPA system
  • Engaging the employees and making them accept the system 

Conclusion

The world is moving forward with technological advancements so every industry must keep up with these changes. The SCM system requires professionals having such advanced skills and that is the reason why one should opt for the supply chain management online course such as the Professional Certification In Supply Chain Management & Analytics at Imarticus.

It will help you be a supply chain manager who has a thorough knowledge of the latest developments in this system. 

Best practices to set up safety stock targets in supply chain management and analytics

Posted on by Imarticus Learning
Reading Time: 2 minutes

In the modern era, technology has been an indispensable part of our lives. And the fact remains constant for various industries including the field of supply chain management. With cloud computing, big data, and other forms of advanced analytics, businesses are becoming more efficient than before with their supply chains. But what exactly does this mean? 

Supply chain management is a management process that focuses on the smooth flow of information, materials, and services to meet customer demand. It is a complex process that requires the coordination of many different players, from suppliers to distributors and customers.

Now that we’ve discussed supply chain management, it’s time to learn about safety stock. Safety stocks are a component of supply chain management aimed at preventing stockouts. 

The term “stockout” refers to a situation in which a firm has run out of inventory, leaving clients without a product or service. This can be quite harmful to businesses because it could result in lost revenue and customer satisfaction. Therefore, it is clear that Safety stock targets are one of the most important aspects of supply chain management.

Essential elements of setting up safety stock goals in supply chain management and analytics:

  1. Using advanced analytics can help ensure that your company will never run out of inventory and prevent the loss in revenue that comes with a stockout. Analytics can also help you to avoid overstock, which occurs when a company has more inventory than they need. Apart from this, Advanced analytics can help you to determine the optimal amount of inventory that should be kept in a warehouse.

  2. In order to ensure your business is using safety stocks effectively, it’s important that all stakeholders work together from the beginning stages of an operation plan. This will allow companies to make decisions based on accurate data and demand forecasts for their products.

  3. It is also important to take into consideration the various planning horizons when setting up safety stock targets. For example, if your plan has a long-term horizon (more than one year), you will want to make sure that the inventory accounts for fluctuations in demand over time, however, if your supply chain management strategy focuses on short-term goals. You might want to have a more streamlined strategy that focuses primarily on current demand.

  4. You may also enroll in a supply chain management course to learn more about the subject and how it might assist your organization to operate successfully.

Explore SCM with Imarticus Learning:

Imarticus learning offers you a Supply chain management course with analytics that will provide you with the skills and knowledge to understand supply chain planning, management, and optimization. You will get to learn about the modern supply chain management concepts and how to apply them in your specific business environment.

This course contains numerous case studies which will help you understand exactly how these issues are handled by professionals working in Supply Chain Management across various industry sectors. Also, this course will take your Supply chain management career to the next level. 

Course USP’s:

  • Real SCM projects and case studies.
  • Industry expert faculty will help you apply SCM concepts in your organization.
  • Exclusive Videos and Podcasts by industry leaders to take your career ahead.
  • Offers you a certification from one of the most renowned supply chain management training institutes.

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

Posted on by Imarticus Learning
Reading Time: 2 minutes

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

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

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

Unified forecast in Supply Chain Management (SCM)

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

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

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

Importance of Supply Chain Management & Analytics

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

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

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

Conclusion

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