If you are thinking of a career involving supply chain management, here are some things to keep in mind. There are many types and industries that have their own supply chains. If you are interested in working as a wholesaler or retailer, then a supply chain manager for a manufacturing firm is not the best choice.
The characteristics of a successful supply-chain manager
Supply chain managers who excel are adaptable learners who are open to learning and willing to experiment with new ideas. They can quickly grasp the nuances of a problem, and they use their failures to help them improve. They enjoy the challenge of new tasks and can quickly grasp the essence of any topic. Their innate curiosity for the unknown fuels their desire to learn new things.
Although supply chain managers should not become micromanagers, they must be able to take strategic risks. While risks are an inevitable part of growth, they should be supported by data. This means being strategic and analytical rather than reactive. Flexibility is a hindrance to success. It can also frustrate supply chain managers.
Management of a supply chain can be complex and constantly changing. So, supply chain managers should be well-versed in market trends and be ready to adopt new technology. They must also communicate well with technologists with advanced knowledge.
The requirements for a bachelor's in supply chain management
The bachelor's degree is in supply chain management. It gives students the foundation for business administration, leadership, and strategic management. This degree also provides the necessary skills to use common software applications. The cost of an accredited undergraduate degree in supply chain management is relatively low. In 2020, full-time programs at public four-year universities cost in-state students on average $10,560 per annum, compared with $37.650 at private universities. Federal student loans and financial aid may be available to reduce the cost of your degree.
A supply chain management degree online can be an attractive option. This program includes courses on global supply chains, international supply chains, business decision-making, and global supply chain management. Other courses include operational strategies and sustainability within global supply chains. The cost of the program is about $688 per credit hour.
The job duties of a supply chains manager are typical
Supply chain managers are responsible for the organization of a company's supply chain. They plan and manage the flow of products and inventory and develop and implement processes to reduce costs. They manage third-party logistics providers and identify waste. These professionals provide reports on their performance metrics, create weekly, monthly, and daily reports.
Supply chain managers usually work 40 hours a week. Sometimes they are on the manufacturing floor, but sometimes they are in business settings. The role requires extensive knowledge and understanding of all aspects within the business, including operations and the internal processes. They must be comfortable with data and people. If you enjoy working with ideas and following procedures, a career as a supply chain manager could be ideal for you.
A supply chain manager earns slightly more than a director in procurement. But, both roles require similar skills and knowledge about logistics, customer service and procedures.
FAQ
How does a manager develop his/her management skills?
Good management skills are essential for success.
Managers should monitor the performance and progress of their subordinates.
You should immediately take action if you see that your subordinate is not performing as well as you would like.
You must be able to spot what is lacking and how you can improve it.
What is a basic management tool used in decision-making?
A decision matrix can be a simple, but effective tool to assist managers in making decisions. They can think about all options and make informed decisions.
A decision matrix can be used to show alternative options as rows or columns. This makes it easy for you to see how each option affects other options.
The boxes on the left hand side of this matrix represent four possible choices. Each box represents one option. The top row displays the current situation, and the bottom row shows what might happen if nothing is done.
The effect of selecting Option 1 is shown in the middle column. In this case, it would mean increasing sales from $2 million to $3 million.
The next two columns show the effects of choosing Options 2 and 3. These are both positive changes that increase sales by $1million and $500,000. However, these also involve negative consequences. Option 2 increases costs by $100 thousand, while Option 3 decreases profits to $200 thousand.
The last column shows you the results of Option 4. This results in a decrease of sales by $1,000,000
The best part of using a decision-matrix is that it doesn't require you to know which numbers belong where. Simply look at the cells to instantly determine if one choice is better than the other.
The matrix has already done all of the work. It is as simple a matter of comparing all the numbers in each cell.
Here is an example of how a decision matrix might be used in your business.
You need to decide whether to invest in advertising. If you do, you'll be able to increase your revenue by $5 thousand per month. You will still have to pay $10000 per month in additional expenses.
Look at the cell immediately below the one that states "Advertising" to calculate the net investment in advertising. It's $15,000. Therefore, you should choose to invest in advertising since it is worth more than the cost involved.
What are the steps that management takes to reach a decision?
Managers have to make complex decisions. It involves many factors, including but not limited to analysis, strategy, planning, implementation, measurement, evaluation, feedback, etc.
Management of people requires that you remember that they are just as human as you are, and can make mistakes. As such, there are always opportunities for improvement, especially when you put in the effort to improve yourself.
This video will explain how decision-making works in Management. We discuss different types of decisions as well as why they are important and how managers can navigate them. You'll learn about the following topics:
How do you manage your employees effectively?
Achieving employee happiness and productivity is key to managing them effectively.
It also means having clear expectations of their behavior and keeping track of their performance.
Managers need clear goals to be able to accomplish this.
They need to communicate clearly and openly with staff members. They also need to make sure that they discipline and reward the best performers.
They also need to keep records of their team's activities. These include:
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What was accomplished?
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How much work was put in?
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Who did it, anyway?
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Was it done?
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Why it was done?
This data can be used to evaluate and monitor performance.
What is Kaizen?
Kaizen is a Japanese term meaning "continuous improvement." It is a philosophy that encourages employees to constantly look for ways to improve their work environment.
Kaizen is based on the belief that every person should be able to do his or her job well.
What is Six Sigma?
Six Sigma uses statistical analyses to locate problems, measure them, analyze root cause, fix problems and learn from the experience.
The first step to solving the problem is to identify it.
Next, data is collected and analyzed to identify trends and patterns.
Next, corrective steps are taken to fix the problem.
Final analysis of data is done to determine if the problem has been solved.
This cycle will continue until the problem is solved.
Statistics
- The profession is expected to grow 7% by 2028, a bit faster than the national average. (wgu.edu)
- 100% of the courses are offered online, and no campus visits are required — a big time-saver for you. (online.uc.edu)
- This field is expected to grow about 7% by 2028, a bit faster than the national average for job growth. (wgu.edu)
- Hire the top business lawyers and save up to 60% on legal fees (upcounsel.com)
- UpCounsel accepts only the top 5 percent of lawyers on its site. (upcounsel.com)
External Links
How To
How can you implement Quality Management Plan (QMP).
QMP, which was introduced by ISO 9001:2008, is a systematic approach to improving products, services, and processes through continuous improvement. It helps to improve customer satisfaction and product/service quality by continuously measuring, analyzing, controlling and improving.
QMP is a standard way to improve business performance. The QMP aims to improve the process of production, service delivery, and customer relationship. A QMP should include all three aspects - Processes, Products, and Services. A "Process" QMP is one that only includes one aspect. QMP stands for Product/Service. And when the QMP concentrates on Customer Relationships, it is called "Customer" QMP.
Scope, Strategy and the Implementation of a QMP are the two major elements. These are the following:
Scope is what the QMP covers and how long it will last. This scope can be used to determine activities for the first six-months of implementation of a QMP in your company.
Strategy: This describes the steps taken towards achieving the goals set forth in the scope.
A typical QMP includes five phases: Design, Planning, Development and Implementation. Each phase is described below:
Planning: This stage is where the QMP objectives are identified and prioritized. In order to fully understand and meet the needs of all stakeholders involved in this project, they are consulted. After identifying the objectives, priorities and stakeholder involvement, it's time to develop the strategy for achieving the goals.
Design: The design stage involves the development of vision, mission strategies, tactics, and strategies that will allow for successful implementation. These strategies can be implemented through the creation of detailed plans.
Development: Here, the development team works towards building the necessary capabilities and resources to support the implementation of the QMP successfully.
Implementation is the actual implementation of QMP according to the plans.
Maintenance: This is an ongoing procedure to keep the QMP in good condition over time.
Additionally, the QMP should include additional items:
Participation of Stakeholders: The QMP's success depends on the participation of stakeholders. They should be involved in planning, design, development and implementation of the QMP.
Project Initiation - A clear understanding of the problem statement, and the solution is necessary for any project to be initiated. In other words, the initiator needs to know why they want to do something and what they expect from the outcome.
Time frame: The QMP's timeframe is critical. A simple version is fine if you only plan to use the QMP for a brief period. If you are looking for a longer-term commitment, however, you might need more complex versions.
Cost Estimation - Cost estimation is an important part of the QMP. It is impossible to plan without knowing what you will spend. Before you start the QMP, it is important to estimate your costs.
QMPs are not only a document, but also a living document. This is the most important aspect of QMPs. It evolves as the company grows and changes. So, it should be reviewed periodically to make sure that it still meets the needs of the organization.