Supply Chain Management: The Gearbox of Organisational Growth
SCM is a collection of sequential flow of things that brings uniformity and closeness and helps scan the loopholes within product procurement and shipment.
A supply chain management course developed by a high-ranked institution can benefit newcomers looking to take up this challenging but rewarding job role.
One of the crucial parameters that define the success of any business is increasing its efficiency and proficiency in meeting customers’ preferences to provide them with goods that make them come for more; however, this might seem easier in theory, but in practicality, several times it can be met with challenges.
The supply chain management courses offered by IIM have been designed to cater to these alarming concerns and provide means for rectifying these situations.
Top 3 Aspects that Govern Organisational Supply Chains
Every sector has specific descriptive components that are combined for taking forms to newer heights.
Similarly, supply chain management has elements devised by experienced managers to oversee different particulars of these domains.
Different aspects govern supply chains in retail and e-commerce businesses, these include the following:-
1. Demand Management
The dynamics of supply chain management isn’t only limited to just filling up orders and stacking future stock products, goods and deliverables.
It’s more to do with setting up strategies that help businesses overcome demand shortages due to external factors and keeping sufficient stock within local bodies to overcome these challenges.
Also Read : How to Successfully Manage Supply Chains
2. Communication Management
Communication between different supply chain processes is essential for going to the next level and acquiring monetary and market success.
3. Integration with Third-Party Suppliers
Integrating supply chains with third party suppliers, procurement officers and other vendors renders several benefits for organisations. Businesses can accurately predict fulfilment times, bring products quickly to markets and offer competitive prices for end-users.
Despite having closed off networks, companies can usher into supply chain systems that offer collaborative tools.
The flow taught through the IIM Kozhikode supply chain management course offers a deeper look into how these aspects come into play at different stages.
Understanding the Supply Chain Management Flow
The table below offers a birds eye view over steps involved in a typical supply chain management flow:-
|Step 1: Supplier supplies the product|
|Step 2: Procurement Officer procures different goods|
|Step 3: Production of goods and assembling them for orders|
|Step 4: Distribution of deliverables through different transportation modes|
|Step 5: The marketed goods finally reach the consumer|
The process then needs to be streamlined to help businesses deliver their goods on time to consumers.
Also Read : 5 Functions of Supply Chain Management
How can the Supply Chain Management Course help in Streamlining Organisational Processes?
Through supply chain management courses, professionals will learn that streamlining of SCM processes leads to 79% increased revenue growth, 50% fewer inventory holdings, 15% lower supply chain costs, etc.
Here’s how young managers can develop the seamless flow of SCM processes in their firms:-
1. Reviewing SCM Processes
To uncover any obstacles in businesses, challenges and any other loopholes, managers need a high-level process review. Doing so will enable in development streamlined manufacturing and production lines for increased savings to customers.
The supply chain management course rendered by IIM will conduct live sessions on how a successful review is important for increasing ROIs and fostering business partnerships.
Also Read : How to Make Your Reviews More Effective
2. Rethinking Sourcing Strategies and Partners
In this era of cut-throat competition, it’s hard to find a source that offers low prices, high quality, and short lead times.
Therefore, forming strategies that help in delivering faster and quality-driven goods to consumers can be a paramount factor in ushering a company towards success.
3. Reducing Shipping Times and Costs
Ask any consumer-driven business what they aim to achieve, most of them will reply saying that reducing lead times and inherent costs can do a world of good.
There are several ways to cut costs and reduce shipping costs for businesses; one of the feasible ways is partnering with 3PL companies.
3PLs offer special pricing for their clients and build relationships with prospective suppliers and vendors.
The above tips showcase how a company can walk on the path towards success and monetary growth. However, those professionals who are still facing doubts can look at FAQs to help them get clarity over different procedures that govern these domains.
Some Supply Chain Management FAQs
The following list offers common FAQs that constitute supply chain management:-
Q. Which is the best course in supply chain management?
Ans. The supply chain management courses offered by IIMs are amongst the best programs available to learners.
Q. What is a logistics and supply chain management course?
Ans. The courses that have been defined to deal with logistics (planning, resources, strategies) of a company fall under this category.
Q. What are the institutions providing online supply chain management courses?
Ans. The elite level of colleges such as IIM Kozhikode offers credible SCM programs.
Q. What are the basic steps involved in supply chain management?
Ans. Plan, Source, Make, Deliver and Return are the rudimentary steps involved in the SCM process.
Q. How many types of SCM are there?
Ans. Two types namely- Reactive Supply Chain Strategy and Data-Driven Supply Chain Strategy.
Q. What are the course modules offered in supply chain management courses?
Ans. The course modules focus on teaching different processes, internal flows and significant aspects that comprise SCM.
Q. How are 3PL companies helping supply chains?
Ans. 3PL offers external resources such as suppliers, vendors and procurement officers that can help increase the value of supply chains.
Q. What is a supply chain management system?
Ans. An SCM system is one that involves individual contributors in a cohesive chain process.
Q. What are the requirements of SCM?
Ans. A bachelor’s degree in management of business and a credible SCM course are the basic requirements of this domain.
Q. What is a global supply chain management course?
Ans. The SCM that are developed in lieu of global trends and practices.
Summing it Up!
Supply chain management is a crucial facet of any organisation that surveys and intervenes in all processes concerning stock collection, delivery, transportation and warehousing of marketed goods, services and deliverables.
Several communication barriers, prediction failures, lack of proper demand management can obliterate any business strategies and bring E-commerce to its knees.
Therefore, undertaking a supply chain management course can teach about practical measures for leading organisational change.
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