Learning Objectives
6 objectives- Understand the core concepts and significance of supply chain management.
- Analyze the design and optimization of supply chain networks.
- Apply inventory management and demand forecasting techniques.
- Evaluate supplier relationships and logistics strategies.
- Incorporate sustainability and risk management principles into supply chain operations.
- Measure and improve supply chain performance using key performance indicators.
Content Outline
PreviewUnit 1006: Supply Chain Management Fundamentals
1. Introduction to Supply Chain Management
- Definition and scope of supply chain management (SCM)
- Importance of SCM in business operations
- Overview of supply chain flows: materials, information, and finances
- Objectives of SCM: efficiency, responsiveness, and customer satisfaction
2. Supply Chain Network Design
- Components of a supply chain network: suppliers, manufacturers, warehouses, distributors, retailers
- Factors influencing network design: customer demand, cost, service levels
- Network design models and decision criteria
- Sourcing strategies and production location decisions
- Distribution and logistics considerations
3. Inventory Management
- Role of inventory in supply chains
- Types of inventory: raw materials, work-in-progress, finished goods
- Inventory costs: carrying costs, ordering costs, stockout costs
- Inventory control techniques: Economic Order Quantity (EOQ), Just-in-Time (JIT), safety stock
- Inventory review systems: periodic vs continuous
4. Demand Forecasting
- Importance of accurate demand forecasting
- Qualitative forecasting methods: expert opinion, market research
- Quantitative forecasting methods: time series analysis, moving averages, exponential smoothing
- Forecast accuracy measurement and error analysis
- Integrating forecasts into supply chain planning
5. Supplier Relationship Management
- Supplier selection criteria and evaluation
- Building collaborative supplier relationships
- Supplier performance measurement
- Communication and information sharing with suppliers
- Contract management and negotiation
6. Logistics and Transportation Management
- Role of logistics in supply chains
- Transportation modes: road, rail, air, sea, pipeline
- Route optimization and carrier selection
- Cost, speed, and reliability trade-offs
- Warehouse management and order fulfillment
7. Sustainability in Supply Chain
- Environmental impact of supply chains
- Principles of green supply chain management
- Ethical sourcing and fair trade practices
- Strategies for reducing carbon footprint
- Corporate social responsibility (CSR) in supply chains
8. Risk Management in Supply Chain
- Types of supply chain risks: operational, financial, geopolitical, natural disasters
- Risk identification and assessment techniques
- Mitigation strategies: diversification, safety stock, contingency planning
- Role of technology in risk management
- Case studies of supply chain disruptions
9. Performance Measurement and KPIs
- Importance of performance measurement
- Common supply chain KPIs: order fulfillment rate, inventory turnover, lead time, cost per order
- Balanced scorecard approach
- Data collection and analysis for continuous improvement
- Using KPIs for strategic decision-making
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