In the simplest sense, supply chains are “process umbrellas” under which products are designed, produced, and delivered to customers. A supply chain incorporates procurement, production, storage, distribution, selling, and disposal/recycling activities that are connected by material, information, and financial flows. Despite its name, a supply chain is in fact a network of activities and flows that often involves the extensive participation and integration of external trading partners. Therefore, Supply Chain Management (SCM) includes:
• The strategic design of the network and its operational capacities
• The tactical utilization of these capacities (e.g., by managing production, inventory, and logistics activities), and
• The simultaneous control of material, information, and financial flows to achieve an optimal mix of responsiveness and efficiency in the face of changing market conditions and customer demands.
Building on lean/just-in-time (JIT) manufacturing concepts and quality methodologies (e.g., Six Sigma) that were all the rage in the 1980’s and early 1990’s, SCM has gotten significant attention in recent years. What were “theoretical” capabilities ten years ago are now hot competitive weapons. Although recent developments in large-scale optimization software applications have provided industry players with the information visibility needed to synchronize the entire channel, SCM isn’t just about technology. It’s fundamental to business strategy and can be leveraged to create new opportunities to succeed and achieve long-term competitive advantage.
The central objective of this course is to introduce future senior decision makers to the concepts, skills, and perspectives necessary to make good SCM choices. Analytical foundations of SCM related to key concepts such as inventory, capacity, and quality will be introduced. A variety of SCM examples from the private, public, and social sectors, from the simplest to the most complex, will be explored and compared. The emerging challenge of incorporating recycle and reuse strategies into SCM objectives will be investigated. Particular emphasis will be placed on evaluating the appropriateness of mainstream SCM technologies such as enterprise resource planning (ERP) systems as well as emerging enablers like radio-frequency identification devices, 3D printers, and do-it-yourself, open-source manufacturing.
Understand key concepts and terminology specific to SCM, and gain experience in appropriately
applying them in relevant situations.
Know how to rigorously question and analyze SCM-specific data, along with qualitative
evidence, to support executive-level decisions.
Improve on their ability to defend a position while actively listening to, respecting, and heeding the advice and ideas of others.