Supply Chain Management Course | Logistics and Supply Chain Management Course | Intellipaat

Introduction

Introduction

The global Supply Chain Management (SCM) market is projected to double in size over the next three years. Yet, an estimated 56% of companies, including those in the US, Dubai, Canada, and India, are experiencing a shortage of qualified supply chain professionals. In fact, a quick search for supply chain jobs reveals over 24,000 positions available in India and around 23,000 in the USA.

Course Overview

This course is designed as an introduction to the Supply Chain Management domain, catering to beginners. It aims to provide a solid understanding of various disciplines within Supply Chain Management, making participants eligible for entry-level positions in the field.

Agenda

1. Introduction to Supply Chain Management

   • Definition of Supply Chain Management
   • Importance and relevance in today’s business environment

2. Stages in Supply Chain Management Process

   • Key concepts such as Bullwhip effect, sustainable supply chain transformations, and circular supply chain.

3. Inventory Management

   • Exploring different inventory management models and frameworks
   • Procurement technologies
   • Supply chain logistics in detail

4. Logistics Overview

   • Understanding logistics within supply chain management
   • Importance in fulfilling customer demands efficiently

5. Key Performance Metrics

   • Inventory turnover
   • Days Inventory on Hand (DIOH)
   • Average Order Value (AOV)

6. Quality Management

   • Supplier performance and its impact on quality and overall operations

7. Strategies for Effective Supply Chain Management

   • Sourcing strategies
   • Procurement strategies
   • Risk management and mitigation strategies

8. Advanced Topics

   • Supply chain disruptions and its management
   • Ethical considerations in supply chain operations

Importance of Supply Chain Management

Supply Chain Management plays a critical role in reducing costs, managing waste, and optimizing manufacturing cycle times. It enhances the overall efficiency and effectiveness of business operations, ultimately impacting customer satisfaction positively.

Companies such as Amazon, Cisco Systems, Intel, Nike, H&M, and Starbucks utilize advanced Supply Chain Management practices to improve their operations continuously.

Logistics in Supply Chain Management

Logistics is an essential aspect of SCM encompassing the management of goods flow, information exchange, and financial transactions from the point of origin to consumption. Effective logistics management reduces transportation costs, ensures timely deliveries, and maintains customer satisfaction.

Strategic Procurement

Procurement encompasses the process of obtaining goods or services necessary for business operations. It includes identifying suppliers, negotiating terms, placing orders, and eventually making payments. It is vital for ensuring that the organization effectively sources its needed products while adhering to budget constraints.

Conclusion

With the right knowledge and skills in Supply Chain Management, including logistics and procurement strategies, professionals can thrive in this rapidly growing field.

Keywords

• Supply Chain Management
• Logistics
• Procurement
• Inventory Management
• Supplier Performance
• Sustainability
• Cost Analysis
• Risk Management

FAQ

1. What is Supply Chain Management?
Supply Chain Management refers to the management of the flow of goods and services, including all processes that transform raw materials into final products.

2. Why is Supply Chain Management important?
It reduces costs and waste, helps optimize manufacturing cycle times, and enhances customer satisfaction.

3. What are the main components of Supply Chain Management?
Key components include logistics, procurement, inventory management, and supplier relationship management.

4. What is inventory turnover?
Inventory turnover is a measure of how effectively a company sells its inventory. Higher turnover indicates better inventory management.

5. What are the characteristics of single period inventory?
It typically relates to items with a single selling opportunity, has uncertain demand, and often involves perishable or seasonal goods.

6. What are the types of inventory management strategies?
Common strategies include continuous review, periodic review, and various sourcing strategies.

7. What are some key performance metrics used in Supply Chain Management?
Examples include inventory turnover, days inventory on hand, average order value, and order fill rate.