In this supply chain management (SCM) training class, working professionals will learn to optimize their supply chain operations through efficient design, planning, execution, control, and monitoring of supply chain activities with the objectives of creating net value, building a competitive infrastructure, leveraging logistics, synchronizing supply with demand, and measuring performance.
Put simply, the main objective of SCM training is to provide students with the knowledge to improve overall supply chain organizational performance and customer satisfaction by enhancing product and service delivery to the customer.
The focus of supply change management is on cooperation and trust and the recognition that, properly managed, the whole can be greater than the sum of its parts. It is the management of upstream and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole to achieve a more profitable outcome for all parties in the chain. The narrow self-interest of one party has to be set aside for the benefit of the chain as a whole.
Effective development and management of your supply chain network will cut your costs and enhance your customer value through supplier relationship management. Resulting in a sustainable source of advantage in today’s turbulent marketplace, where demand is difficult to predict, and supply chains need to be more flexible as a result.
The real competition today is not between companies, but between supply chains. The winning approach to supply chains is an integrated perspective that takes account of networks of relationships, sustainability, and product design, as well as the logistics of procurement, distribution, and fulfillment.
Supply Chain Management Training examines the tools, core processes, and initiatives that ensure businesses gain and maintain their competitive advantage.
This class will benefit the supply chain manager as well as the logistics manager.
Industry Related Courses
One of the first questions I ask our Warehouse Management students is, “Do you know your operating costs?”, and our Production Planning Management students, “Do you know the cost to produce one of your items?” After five years of training, I can count on one hand how many students were able to answer these questions, which immediately tells me their company does not utilize cost accounting.
The reason students are unable to answer the question is their company only has what is called management and financial accounting in place. Management accounting focuses on historical and estimated data management needs to conduct ongoing operations and do long-range planning. The purpose of management accounting is to accumulate financial information for use in making economic decisions.
Financial accounting focuses on gathering historical financial information to be used in preparing financial statements that meet the needs of investors, creditors, and other external users of financial information. The statements include a balance sheet, income statement, retained earnings statement, and statement of cash flows. Although these financial statements are useful to management as well as to external users, additional reports, schedules, and analyses are required for management's use in planning and controlling operations.
Management and financial accounting focus on the company’s operations as a whole and cannot provide the detail necessary to accurately determine product costs and pricing. At best all they can do is provide averages. In addition, cost accounting provides the detailed cost information management needs to control current operations and plan for the future. Management uses this information to decide how to allocate resources to the most efficient and profitable areas of the business.
Cost accounting enables management to properly allocate costs such as raw materials, labor, and other factory resources to the products actually using then instead averaging them over all products. Without cost accounting, expenses such as major investments in physical assets, developing the workforce, depreciation, taxes, insurance, utilities, machine maintenance and repair, materials handling, production setup, production scheduling selling and administrative expenses are usually lumped together to create an overhead rate which is added to a product as an overhead markup. The true cost of a product is never determined which means the company is charging too much for some products and not enough for others.
Principles of cost accounting have been developed to enable manufacturers to process the many different costs associated with manufacturing and to provide built-in control features. The information produced by a cost accounting system provides a basis for determining accurate product costs and selling prices, and it helps management to plan and control operations.
Determining Product Costs and Pricing
Cost accounting procedures provide the means to determine product costs that enable the preparation of meaningful financial statements and other reports needed to manage a business. The cost accounting information system must be designed to permit the determination of unit costs as well as total product costs. Unit cost information is also useful in making important marketing decisions such as determining the selling price of a product, meeting competition, bidding on contracts, and analyzing profitability.
Planning and Control
One of the most important aspects of cost accounting is the preparation of reports that management can use to plan and control operations.
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(The training manual was) chalk full of information, and breaks down information clearly. Exercises/homework allow for independent learning to gain understanding on topics of discussion. (The instructor has) so much knowledge! I was never told, "I don't know that: or, "I don't know the answer to that question." The application of past experiences helped me understand the concepts better.
Company: Almco Steel Products Corporation
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IMPROVE YOUR SUPPLY CHAIN MANAGEMENT SKILLS NOW
Wed., Thurs., and Fri., April 3 - 5, 2019 Full
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Supply chain management is a wider concept
The supply chain becomes the value chain
The mission of logistics management
The supply chain and competitive performance
The changing competitive environment
The marketing and logistics interface
Delivering customer value
What is customer service?
The impact of out-of-stock
Customer service and customer retention
Market-driven supply chains
Defining customer service objectives
Setting customer service priorities
Setting service standards
Logistics and the bottom line
Logistics and shareholder value
Logistics cost analysis
The concept of total cost analysis
Principles of logistics costing
Customer profitability analysis
Direct product profitability
Cost drivers and activity-based costing
The lead-time gap
Improving the visibility of demand
The supply chain fulcrum
Forecast for capacity, execute against demand
Demand management and planning
Collaborative planning, forecasting and
Product push versus demand pull
The Japanese philosophy
The foundations of agility
A route map to responsiveness
Logistics pipeline management
The extended enterprise and the virtual supply
The role of information in the virtual supply
Laying the foundations for synchronization
Quick response logistics
Production strategies for quick response
Logistics systems dynamics
The sources of supply chain complexity
The cost of complexity
Product design and supply chain complexity
The trend towards globalization in the supply
Gaining visibility in the global pipeline
Organizing for global logistics
Thinking global, acting local
The future of global sourcing
Why are supply chains more vulnerable?
Understanding the supply chain risk profile
Managing supply chain risk
Achieving supply chain resilience
The new organizational paradigm
Collaboration in the supply chain
Managing the supply chain as a network
Seven major business transformations
The implications for tomorrow's logistics
Supply chain orchestration
From 3PL to 4PL
Creating the logistics vision
The problems with conventional organizations
Developing the logistics organization
Logistics as the vehicle for change
The triple bottom line
Greenhouse gases and the supply chain
Reducing the transport-intensity of supply
Beyond the carbon footprint
Reduce, reuse, recycle
The impact of congestion
Shifting centers of gravity
The multi-channel revolution
Seeking structural flexibility