Supply Chain is About Flow of Business
Why Do We Need Supply Chain In The First Place?
Holding Huge Inventory Was The Solution To Meet Demand
Companies were forced to hold a certain amount of inventories to supply goods to manufacturers or customers. Therefore only enterprises that had tremendous assets were able to survive in these business environments. The key point was how can smaller companies survive in their business without holding too many inventories. Then people started to think about how can I reduce my inventory and be able to deliver my goods on demand at the same time. Only large enterprise who hold a significant amount of assets were able to dominate the market in the past. However, by managing your purchase, production and demand now you don’t need to hold inventories. There will be a better chance for mid-size companies to contribute to the market by implementing Supply Chain Management.
Useful Videos To Learn Supply Chain Management
Let’s see what contents we can use to learn Supply Chain Management. You can buy books, but as we have many free online videos and materials, we can utilise it would be better to use them to understand the concept.
1.Simplified Definition of Supply Chain Management
The reason why I recommend this video is that it explains supply chain management using very simple description and examples of Supply Chain Management. Simple description is useful for beginners to learn Suppy Chain Management. Using the example of how to provide and sell a bottle of water, you can understand that there are many other resources you need to deliver your business. Materials, packages, labours, insurance and transportation costs are necessary for the company to provide the product to customers. The key of the supply chain is companies face challenges when they buy, make, move and sell things. These simple examples are relevant to the actual situation of what companies are facing. You are right. Businesses cannot perform what seems very straightforward and obvious to do. The difficulties come from crossing the barrier of organisations. You can learn these concepts through this video.
2.Fundamental Way to Explain Supply Chain Management -AIMS
This video provides basics of how to learn Supply Chain Management. Supply Chain Management covers the movement of product, information and financials. It explains about the core business flows and how Seller(Who supply the goods), Producer(Who produces goods and adds value) and Customer(Who buys the products) are involved in the entire supply chain activities. There are some examples based on different type of business. Such as retailers, manufacturers and service industries.
The key point to learn here is about the vertical and horizontal integration of supply chain. Vertical means your company needs to integrate supply chain between your seller and customer. Horizontal integration means the integration of supply chain across various products and service you provide in your company. The last contents in this video explain about the development stages of supply chain management. You can go to AIMS to take the this course.
3.Supply chain management – the what and the why – Case Business School
So as I mentioned in my previous video post about doing output activities, I want you also to challenge to explain Supply Chain Management to others. I know you might feel overwhelmed, but I know you can do this. Let’s watch this video and learn what are the points and terminologies that experts use when they explain about Supply Chain Management.
Definition of Supply Chain Management and Operations
- Connect enterprise to deliver goods and service
- Flows of materials and products
- Information management, such as demand information and order information
- Financial flows of supply chain
- Supply chain flows through entities, such as suppliers, focal firms, distributors, retailers and customers.
Risk Management in Supply Chain
- Manage high impacts low probability risks, such as flood, earthquake and natural disasters.
- Manage low impact high probability risks, such as supplier delivery delays, port strikes and quality defects.
- Globalisation creates opportunities and challenges at the same time
- Environmental sustainability, such as greening, efficiency, reducing carbon footprint, and emissions.
- Social sustainability is necessary to maintain the business and labour where the plants are located.
Supply Chain Management Skills
- Operational skills to strategic skills.
- Analytical skill set
- Interpret significant amount of information
- Organisational skills
- Teamwork and leadership
- Ability to work with multinational people
- Social and relationship management skills
- Contract and negotiating skills
4. How Amazon Manage Order Fulfilment
Now let’s take a look at one of the best practices and have fun. Amazon is one of the largest online retail companies in the world. It is known for its strength to manage an enormous amount of different products and handle the demand to supply products to consumers. You can learn in this video how what are the technologies Amazon use to optimize their supply chain processes.
5.How Walmart Deals With Managing Social Aspect of Supply Chain
Wallmart is one of the largest retailers in the world. Let’s learn Suppy Chain Management and key factors of how Walmart manage their supply chain process. Walmart is focusing on a social and community aspect of supply chain. When your company is delivers huge variety and quantity of products, there are huge numbers of companies involved to provide the goods. Maintaining the security and relationship with the community is one of the key aspects of supply chain management.
6.Development & Management of your Supply Chain KPIs – Logisticsbureau
You would want to analyze performance once you learn about the importance of supply chain management. Perhaps you may also want to benchmark against competitors. When you are going to develop a KPI, it is not merely about just defining the KPI and tracking them. It is about why those KPIs matter to measure your performance. It is possible to benchmark general KPIs, but think about whether that will fulfil the needs to measure your supply chain performance. This video will provide you fundamentals of how you should manage supply chain KPIs.
Today we looked at some of the essential contents you can learn Supply Chain Management. Supply Chain Management is a fundamental skill you need to understand and manage your business. I hope these materials will help you to understand more about Supply Chain Management, and you can start to think how you will explain to Supply Chain Management o others.