MBA in Supply Chain Admission in Management Quota Colleges
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What is ‘Supply Chain Management (SCM)?
( MBA in Supply Chain Admission in Management Quota Colleges )
SCM is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace. SCM represents an effort by suppliers to develop and implement supply chains that are as efficient and economical as possible. Supply chains cover everything from production to product development to the information systems needed to direct these undertakings.
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What’s the Core Purpose of Supply Chain Management?
( MBA in Supply Chain Admission in Management Quota Colleges )
As supply chain professionals and SCM technology enthusiasts, our conversations and discussions are often forward-looking. Sometimes, it’s essential to focus on the here and now, before looking ahead. In this post, we’ll cover some of the basics of what SCM entails, and why it’s a critical component in fuelling supply chain innovations.
Organizations, from healthcare facilities to manufacturing giants to small restaurants, can be viewed as an ongoing sequence of loosely coupled activities where current and future assets are matched with current and future demand across the supply chain or demand-supply network. ( MBA in Supply Chain Admission in Management Quota Colleges )
These planning and scheduling decisions occur across a complex playing field organized by decision tier (strategic, tactical, operational, and relevant time response) and organization (corporate planning, factory, marketing, purchasing, etc.). ( MBA in Supply Chain Admission in Management Quota Colleges )
The purpose of (SCM) is to keep chaos at bay – synchronizing the activities of the network. All SCM or central planning processes created to manage an organization’s demand/supply network consists of three primary activities, as well as two secondary activities. ( MBA in Supply Chain Admission in Management Quota Colleges )
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What Role Will Artificial Intelligence Play in Supply Chain Management?
( MBA in Supply Chain Admission in Management Quota Colleges )
Artificial Intelligence (AI) has been making its rounds in world news for the last few years. With considerable advancements in the field, the concept of AI has garnered its share of fans and critics alike. While many believe AI is the next step in the industrial revolution with its potential for complete automation and an error free process, there are a few (notably Elon Musk) who believe AI advancements must be regulated to ensure that we do not risk security and safety for comforts and profits. Like it or not, AI is slowly creeping into our day to day lives with the devices we use. So it’s not a coincidence that the manufacturing sector has taken notice of the phenomena and have started making investments in AI to improve business and supply chain processes.
How will AI change the traditional methods of supply chain?
( MBA in Supply Chain Admission in Management Quota Colleges )
Major companies like Siemens and Amazon have already begun implementing AI into their supply chain systems. While the majority of AI is primarily in robotics, software that fully monitors the complete supply chain from production to delivery have begun to come into play. ( MBA in Supply Chain Admission in Management Quota Colleges )
There are multiple advantages to using AI in the supply chain:
Streamlined Process
( MBA in Supply Chain Admission in Management Quota Colleges )
If AI oversees the handling of the entire supply chain process, it can learn to adapt to changing scenarios. By using historical data and trends, it will be able to streamline every aspect from demand to inventory to supply in order to best meet the needs of the market. This would be done with minimal human input, saving time and reducing errors due to the incomprehensibility of data. Also, due to vast memory options available, the AI would literally be able to learn from past mistakes and ensure risk-free paths are undertaken. ( MBA in Supply Chain Admission in Management Quota Colleges )
Near perfect Planning
( MBA in Supply Chain Admission in Management Quota Colleges )
While usual supply chain planning involves sticking to certain parameters of data because of data limitations, AI would not be hindered by this issue. By using infinite sources of information at once, it would be able to alter the demand schedule depending on a variety of continuously varying trends such as weather, the stock market, traffic, etc., within a minimal time and near zero error rate. ( MBA in Supply Chain Admission in Management Quota Colleges )
Market Shaping
( MBA in Supply Chain Admission in Management Quota Colleges )
What can you do when you have near infinite knowledge of the past, present and future? Make the perfect products of course. By using continuous feedback from customers alongside all possible sources of information, AI can not only assist in the supply chain process but also be Product designers. The product designs would be linked to various production elements such as Raw Materials quantity, lead times, and so on, ensuring the most optimal design parameters. ( MBA in Supply Chain Admission in Management Quota Colleges )
Faster & Accurate Transportation
( MBA in Supply Chain Admission in Management Quota Colleges )
While we’ve mainly discussed the data crunching aspect of AI, it can also be used in mechanical processes. Apart from production machinery, AI can be used to optimize transportation as well. Automotive and tech companies such as Tesla and Google have been delving into the concept of driverless cars for a few years now, with impressive results. If such a technology can become fully developed, it will be the driving force in Product transportation and shipments. To improve accuracy, decrease lead times, reduce transportation and human labour costs.
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Career Scope and Job Prospects in Supply Chain Management
( MBA in Supply Chain Admission in Management Quota Colleges )
There are various sectors in which a Supply Chain Manager can look for a job. They are,
- Manufacturing and distribution sector
- Transportation ( MBA in Supply Chain Admission in Management Quota Colleges )
- Logistics Companies
- Shipping Corporations
- Aviation ( MBA in Supply Chain Admission in Management Quota Colleges )
- Multi product Conglomerates
Few institutes List of Logistics and Supply Chain Management in India
( MBA in Supply Chain Admission in Management Quota Colleges )
- ITM Business School, Navi Mumbai
- IBS Business School, Hyderabad
- SPJIMR, Mumbai ( MBA in Supply Chain Admission in Management Quota Colleges )
- Narsee Monjee Institute of Management Studies, Mumbai
- Sharda University, Greater Noida
- Galgotias University, Greater Noida
- Dr DY Patil University, Navi Mumbai ( MBA in Supply Chain Admission in Management Quota Colleges )
- Maulana Abul Kalam Azad University of Technology, Kolkata
- ITM Business School, Navi Mumbai
- University of Mumbai, Mumbai ( MBA in Supply Chain Admission in Management Quota Colleges )
- Presidency University, Bangalore
- ITM University, Gwalior ( MBA in Supply Chain Admission in Management Quota Colleges )
- Manipal Academy of Higher Education, Manipal
- Indian Institute Of Social Welfare And Business Management, Kolkata
- Amity Business School, Noida ( MBA in Supply Chain Admission in Management Quota Colleges )
For Details Contact Ace1Guru on 09742479101 (Ankit Mishra), 09742886036 (Anis), 09035556036 (Mayur Gautam) or you can or visit www.direct-mba.com for further details.