Supply Chain and Logistics Management (SCM) can be defined as “the management of a network of interconnected businesses involved in the provision of product and service packages required by the end customers in a supply chain.” As you can see from the definition, supply chain management is crucial for any company – spanning the entire lifecycle of a product from procuring raw material to supplying the finished product to the end-consumer.
According to stats, an efficient supply chain can save up to 20 per cent of costs for a company. However, supply chain management is a continually evolving field throwing up several challenges for supply chain professionals that they can overcome only through continuous learning and innovation.
One of the foremost challenges that supply chain leaders must tackle is globalisation. Think about it – many markets across that world that were previously local have now become global. To reduce costs, larger enterprises are outsourcing manufacturing and other operations to countries that offer cheaper labour and lower production costs. Besides, they have suppliers, and supply, in different geographical regions, further complicating the supply chain.
Therefore, as a supply chain professional, not only do you need to manage the logistics and create a robust supply chain spanning different geographies but also think about what lies ahead for the business. It turns out to be your duty to coordinate with various stakeholders across the world to ensure timely and efficient manufacturing efficiency and also maintain visibility at all steps of the supply chain.
The localisation of products presents another challenge to supply chain leaders who must keep up with the fast-changing consumer market by continually upgrading their existing products while keeping the manufacturing costs low. Another implication of a fast-moving market is that what sells today may not sell tomorrow. Therefore, it is essential to design a supply chain that is flexible enough to manufacture other products that might be more viable in the future.
From the above, it is clear that to add more value to their role, a supply chain professional must be able to:
• Design a supply chain
• Forecast the demand and supply for a supply chain
• Build strategic frameworks to analyse supply chains
• Manage cross-functional drivers in a supply chain
• Create, manage and optimise inventories across geographies
Besides, a supply chain professional must also be well-versed with IT management of a supply chain. For example, knowing how to use ERP systems and other enterprise management tools can boost overall operational efficiency and reduce waste, leading to lower costs.
But how do you acquire or polish the skills required to succeed as a supply chain professional?
In addition to learning on the job, having an executive certification in Supply Chain and Logistics Management from a premium institute can equip you with the critical skills needed to succeed in a competitive landscape.
At Nulearn, we help you learn the key skills for your career by enrolling in an executive program facilitated by top management schools in India. We offer an end-to-end course for existing and aspiring supply chain professionals that gives them the opportunity to earn a certificate of completion from the prestigious Indian Institute of Management, Rohtak.
Administered in a campus-like online environment on weekends, the course is curated by top management faculty in India and is a boon for working professionals who want to scale their career. Admission to the course is based on merit. Once admitted, students learn from real job situations, case studies and online group discussions that create an environment of learning for everyone.
Did you know that supply chain professionals with at least one certification get paid up to 19 percent more than their peers? Visit Nulearn to know about the Executive Certification in Supply Chain and Logistics Management and propel your career in the right direction today!