Supply change management is a highly-detailed system used by small and large organizations alike to get products to consumers, from obtaining raw materials, manufacturing and delivering the final product to the customer. A well-organized supply chain management system involves optimizing operations functionality to be fast and efficient. Show What is Supply Chain Management?Supply chain management in not only a process served to generate a cost reduction in the budget or a mission to create greater operational efficiencies within an organization. While these are a part of the whole ecosystem, modern supply change management encompasses the strategic alignment of end-to-end business processes to realize market and economic value, as well as giving a firm the competitive advantage over their business rivals. In recent times, the dawn of the digital age has brought wholesale transformation to the world of commerce. Only twenty years ago, these processes were arduous, labor intensive, time consuming and disorganized. It now may seem like ancient history, delivery times have gone from two weeks to a month down to a turnaround of hours in some cases. Automated systems and high-speed communication have paved the way for supply chain management and its increased demand. Why is Supply Chain Management So Important?Today, more than ever before, supply chain management has become an integral part of business and is essential to any company’s success and customer satisfaction. Supply chain management has the power to boost customer service, reduce operating costs and improve the financial standing of a company, but how does this work? Improve Customer Services
Reduce Operating Costs
Improve Financial Position
What Can You Do with a Supply Chain Management Degree?The Master degree in Operations and Supply Chain Management is designed to provide students with a fundamental understanding of company supply chain management from a global perspective, with an emphasis on leveraging the effects of the operations and supply chain management on business performance and objectives. The program will prepare supply chain managers who will be able to work in Europe, Asia, Latin America, and other regions around the world. Graduates will be able to help companies build a competitive edge based on high levels of technical and managerial competence gained on the job and in the classroom. The Master in Operations Management and Supply Chain Management degree courses at GBSB Global Business School aim for a high level of integration between management techniques and the technologies that they control, with emphasis on the strategic decision-making and international supply chain management across borders. Topics include global supply chain design and management, global project management, quality management, and financial management. Students who chose to earn a Master in Operations and Supply Chain Management degree are often pursuing management or consulting positions in Europe and around the world in supply chain management, operations management, manufacturing, purchasing, or related fields. Are you interested in finding out more information about career opportunities in supply chain management and if this is the right discipline for you? Read this post or contact us. Written by Emily Dawn Szajda, GBSB Content Manager
Supply chain is a complex mix of activities that are focused on cost-effectively delivering products or services. It refers to the start-to-finish process that involves everything, from researching, inventory, logistics, and manufacturing to distributing and delivering the product to the customers. Global Supply Chain Global supply chains are needed by companies that operate in global markets. It is similar to the traditional supply chains but differs due to the digital transformation. The global supply chain focuses on the organization’s global interests and suppliers. Effective supply chain management gives the companies a competitive advantage over others and helps in eliminating wastes and reducing the inherent risks. Global Supply Chain Management Through supply chain management, the entire supply chain is analyzed in order to identify the changes required to increase efficiency and productivity. It looks at the effectiveness of the operations on a global level which leads to the organization’s economic growth. Supply chain management (SCM) makes the whole process faster and cheaper. Group50, a leading consulting firm provides Supply Chain Management Solutions and have effectively managed supply chains of various sizes. They understand that companies need to be effective at designing products, defining services, forecasting, acquiring materials and resources, purchasing and delivering the products and services to their customers. And, they need to do it with lower-cost year in and year out with supply chain optimization. Major benefits of global supply chain management Increased efficiency rate With global supply chain management, the companies are able to focus on more innovative strategies. This leads them to the position where they are not only able to predict demand but also act accordingly. Companies become more dynamic towards the fluctuating economies and emerging markets. Expands sourcing options Global market offers companies tremendous business opportunities. They have access to diverse sourcing options, from the workforce, materials to products which allows them to choose the higher quality or even the lower-cost options. Eliminates wastes Supply chain management incorporates lean practices to reduce or totally eliminate the wastes produced during various processes. These practices identify the areas of wastes improvement and make the processes more efficient and effective. Increases output and profit margins It leads to communication improvement which further brings more coordination with vendors, suppliers and shipping companies. Improved collaboration and new business opportunities ultimately lead to higher profit margins. Improved customer service By investing in supply chain management, organizations can easily manage logistics. They can track their shipments, materials, and products. With improved supply chain technology, it has become easier to deliver the products to the customers. For optimizing your company’s supply chain and reaping the benefits of global supply chains, consult a renowned supply chain consulting firm like Group50. Their consultants provide strategic sourcing services and have designed and implemented optimized supply chains in many industries, implementing best practices. They take an integrated approach to designing and implementing an optimization roadmap. Contact Group50 for more details about their Supply Chain Optimization program. |