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Supply Chain Management Course | Supply Chain And Logistics Course | Supply Chain Training

Introduction

Introduction

Have you ever wondered how Apple can produce millions of iPhones with new features yearly or how Amazon manages one-day deliveries? The answer is Supply Chain Management. It is a critical business function in the manufacturing industry and is rewarding. Even beginners can make around INR 15-20 lakhs in India and between $ 100,000 to $ 150,000 in the US. Considering this high monetary value, many MBA grads naturally gravitate towards Supply Chain Management. But do you need a management degree to enter this field? The answer is no. Supply Chain Management is a diverse domain with roles in inventory management, supply chain analytics, procurement technologies, etc. If you’re interested and knowledgeable about good Supply Chain Management, you can definitely land a job in this field.

Course Overview

Welcome to Intellipaat's Supply Chain Management Course. Designed by top industry experts from companies like Amazon, Accenture, and AB InBev, alongside experienced IIT faculties, this course keeps current industry expectations in mind. Ensure you stay tuned till the end of this article.

Agenda

  1. What is Supply Chain Management?
  2. Starting a Career in Supply Chain Management
  3. Supply Chain Management Roadmap
  4. Key Concepts in Supply Chain Management
  5. Industry 4.0 and Technological Advancements
  6. Operational Efficiency in Supply Chain
  7. Decision-Making in Supply Chain
  8. Introduction to Vision, Mission, and Goal of Supply Chain
  9. Amazon's Vision, Mission, and Goals

What is Supply Chain Management?

Supply Chain Management encompasses the production and distribution of a product from the supplier to the final delivery to the customer. It’s called Supply Chain Management because physical connections between the chain’s links are minimal, yet they tug against one another when in motion.

Why is Supply Chain Management Important?

Efficient Supply Chain Management reduces costs, waste, and manufacturing cycle time. It adds value to the supply chain in three situations:

  1. Recognizing potential issues: Data analysis can help foresee potential shortfalls before customer dissatisfaction.
  2. Dynamic pricing optimization: Prices are dynamically adjusted to suit demand, improving margins even for hard items through analytical software.
  3. Enhancing distribution: Manufacturers can confirm a product delivery date and ensure optimal availability.

Types of Supply Chain Management

There are six models of Supply Chain Management:

  1. Continuous Flow: Provides stability for firms with consistent product offerings.
  2. Fast Chain: Ideal for producers frequently altering product lineups.
  3. Efficient Chain: Suitable for highly competitive industries.
  4. Agile: For companies producing customized goods.
  5. Custom Configured: Offers unique setups for production and assembly.
  6. Flexible: Adapts to and withstands peaks in volume demand.

Career in Supply Chain Management

Why Choose Supply Chain Management?

  1. Exciting Role: Encompasses every stage of a product’s life cycle, from purchase to delivery.
  2. Industry Growth: Expected to expand by 30% over the next 10 years.
  3. Well-Paying Jobs: Median annual salary for logisticians in the US is around $ 77,000.
  4. Low Barrier to Entry: Can be started with just a bachelor’s degree.
  5. Abundant Internship Options
  6. Opportunities to Travel Abroad

Skills Needed

  1. Relationship Building
  2. IT skills
  3. Leadership
  4. Problem-Solving

Starting a Career

  1. Determine interest areas.
  2. Select an industry.
  3. Earn a degree.
  4. Network with professionals.
  5. Apply for internships.
  6. Obtain Certification (Intellipaat offers a comprehensive SCM certification course).

Key Concepts in Supply Chain Management

  1. Planning: Demand forecasting, lead-time management.
  2. Sourcing: Choosing suppliers, understanding capacity and turnaround time.
  3. Production: Quality assessment, manufacturing, maintaining stock.
  4. Inventory Management: Raw material and finished goods management, turnover ratio.
  5. Logistics: Customer orders, deliveries, dispatching load.
  6. Return Handling: Managing defective or unwanted products.

Industry 4.0

Industry 4.0 refers to the current and developing environment where digital technologies change how we live and work. This involves using iot, machine learning, and big data in supply chain operations.

Operational Efficiency

Using technology to achieve operational efficiency helps:

  1. Discovery of products.
  2. Reorder Points.
  3. Holding Costs.
  4. Dashboards and Metrics for real-time tracking.
  5. Inventory Management.

Decision-Making in Supply Chain

  1. Transportation Decision: Choosing the transportation mode and route.
  2. Inventory Decision: Determining how much to store and when to replenish.
  3. Production Decision: Deciding how much and when to produce.
  4. Location Decision: Determining the location of warehouses, distribution centers, or manufacturing plants.

Vision, Mission, and Goals of a Supply Chain

Vision Statement

A vision statement paints a picture of where you are going and why you want to go there. It explains the company's long-term goals.

Mission Statement

A mission statement explains the company's reason for being present today and what it aims to achieve.

Goals and Objectives

Goals are measurable targets a company aims to achieve, whereas objectives are specific actions taken to achieve those goals.

Amazon's Vision, Mission, and Goals

  • Vision: To be the Earth's most customer-centric company.
  • Mission: To offer customers the lowest possible price, the best available selection, and the utmost convenience.

Keywords

  • Supply Chain Management
  • Industry 4.0
  • Operational Efficiency
  • Demand Forecasting
  • Inventory Management
  • Vision and Mission Statement
  • Amazon Supply Chain

FAQ

Q1: What is Supply Chain Management? A1: Supply Chain Management encompasses the production and distribution of a product from the supplier to the final delivery to the customer.

Q2: Why is Supply Chain Management Important? A2: Efficient Supply Chain Management reduces costs, waste, and manufacturing cycle time, improving overall operational efficiency.

Q3: What are the types of Supply Chain Management? A3: Continuous Flow, Fast Chain, Efficient Chain, Agile, Custom Configured, and Flexible.

Q4: What skills are needed for a career in Supply Chain Management? A4: Relationship Building, IT skills, Leadership, and Problem-Solving.

Q5: How can I start a career in Supply Chain Management? A5: Determine interest areas, select an industry, earn a degree, network with professionals, apply for internships, and obtain certifications.

Q6: What is Industry 4.0 in Supply Chain Management? A6: Industry 4.0 refers to the use of iot, machine learning, and big data to enhance operational efficiencies in the supply chain.

Q7: What is the primary goal of Supply Chain Management? A7: To ensure that the right product reaches the right place at the right time, in the right quantity and quality, at minimal cost.

Q8: What is Amazon's Vision and Mission in Supply Chain Management? A8: Vision: To be the Earth's most customer-centric company. Mission: To offer customers the lowest possible prices, the best available selection, and the utmost convenience.

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