Supply Chain: Concept, Solution and Application
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Supply Chain: Concept, Solution and Application Course
Introduction:
This course provides participants with practical cost-saving strategies that can be applied in their organizations. It examines an innovative cost-saving approach that may appear promising in theory but can have negative consequences in practice, potentially leading to increased costs. Forward-thinking managers aim to achieve a balanced approach between supply chain responsiveness and cost efficiency to drive business outcomes. The course explores key concepts and solutions that can be implemented to optimize this balance, resulting in improved customer satisfaction and enhanced corporate profitability when effectively executed.
Course Objectives:
By the end of the course, participants will be able to:
- Analyze the effectiveness of your firm’s supply chain practices
- Identify areas offering the greatest opportunity for improvement
- Develop a process improvement road map
- Create an inventory strategy that speeds cash flow
- Evaluate and work with suppliers to deliver tangible business results
Who Should Attend?
This course is suitable for a wide range of professionals but will greatly benefit:
- Supply chain, logistics, and transportation professionals
- Sourcing, procurement, and supplier management professionals
- Production and manufacturing professionals
- All of those who need an understanding of supply chain concepts that can deliver lasting value for your business
Course Outlines:
Copy the Best: Supply Chain Benchmarking
- Quantitative vs. qualitative benchmarking
- Types of process frameworks
- Benchmarking against process standards
- Establishing a cross-functional benchmarking team
- Defining performance gaps
- Prioritization and developing a performance road map
Inventory Management & Optimization
- Types of inventory
- Applying procurement strategies that maximize inventory turns
- Speeding the cash-to-cash cycle time
- The financial justification for the change
- Supplier relationship management: strategies, approaches, and tools
- Supplier collaboration and your company's culture
Managing Information to Deliver Supply Chain Excellence
- The importance of ERP systems
- Understanding your company’s IT infrastructure and capabilities
- Approaches to internal systems integration
- IT integration with all your suppliers?
- Normalizing, digitizing, and automating, and accelerating the demand signal
A New Paradigm for Outsourcing
- Is your relationship transactional or outcome-based?
- Defining desired outcomes that are measurable
- Developing an effective outsourcing contract
- Designing a pricing model that incentivizes desired behaviors
- Evaluating cost/service trade-offs
- Creating a governance structure that works
Performance Management: Defining, Measuring, & Improving your Results
- Rationale and approach to performance management
- Identifying, defining, and tracking your metrics
- Aligning your metrics with corporate goals: creating a cascading metrics program
- Incentives and continuous improvement