The golden rules to build a supply chain management career from a pro
Table of Contents
The supply chain deals with the flow of products into and out of the manufacturing process. The supply chain management stayed flexible even when others shut down during the pandemic. Several challenges, such challenges climate change, wars, and other conflicts, have changed how the supply chain works. It has become essential that the supply chain is created to be elastic enough to maintain the supply flow. You can opt for theory-based university courses to build a supply chain management career or choose an up-to-date course from Imarticus learning and learn from industry experts right at your home.
So, What are the golden rules for building a flexible supply chain?
3. Create values
Proper planning for designing an efficient logistics system
Planning is a vital nerve for the supply chain management operation. Each company should plan before making any significant changes in its business pattern. The operations team should ensure that there is no vulnerable link, giving the whole logistics view a better overview and pointing out the vulnerable or weak areas of the chain. You can focus on managing weak points and profit maximisation. It allows you to gear up for unforeseen situations and execute an emergency plan to keep the supply chain on track.
Collaboration is key
No supply chain can work solely built on single-origin resources. You must design a logistics chain that relies on others providing resources or services to you. These trusted third-party connections could help avoid disruptions during a crisis. Supply chain management heavily relies on relationships with third-party stakeholders. They help create a smooth, flexible supply chain and boost profits; for example, if you want to increase warehouse space due to growing product demand, a good relationship with the warehouse manager could easily find an adequate space quickly.
Sourcing and pricing
Sourcing in the supply chain deals with planning, designing, and building a trusted supplier base. It also includes determining the procurement strategy and designing pricing strategies. The process involves focusing on stakeholders' objectives in operations, finance, marketing and distribution. Some supply chain managers favour “everyday low pricing” strategies to reduce demand distortion, improve customer service, and lower costs, while others apply “high-low pricing” strategies to clear slow-moving items and build retail traffic, thereby increasing revenues.
Know the Network
When creating a supply chain, having information about where your suppliers and customers are, is vital. It equips you to handle any crisis during disruptions. To become a successful supply chain analyst, you must know the locations of materials, supplies, and products. You must understand how the route works and how to introduce agility. Knowledge about the local situations helps mend the existing loopholes in any supply chain.
Automation is the most trending tool of supply chain management. It increases efficiency and makes it easier to manage the supply chain. With the right software, automation reduces clutter and brings transparency by collating all the required paperwork in one place. Automation centralises the supply chain's operations, reducing costs and the chances of human errors. Automation is an essential part of the supply chain as it aids in measuring performance in real-time and handling the situation accordingly. It consolidates the supply chain and brings the complete picture into one place, making it easier to assess the situation.
So, do you want to become a successful supply chain analyst? Do you often think you need to spend a lot of money and time on a university course to learn about efficient supply chain management? Think again.
At Imarticus Learning, you can get a professional certification in supply chain management and analytics. You will learn from industry veterans at the IIT Roorkee facility and deal with real-world problems. You can avail of live sessions with experienced faculty members and industry experts. The best part? You don’t need to leave your office or home to learn. Imarticus learning has brought the best of the industry at your door, bringing value to learners and future industry assets.