Supply Chain Management deals with the management of goods supply and the flow of services. In a broader sense we can call it as a network of people, resources and services that are associated with the production or sale of a product in the market. The cycle starts from picking up the raw goods and ends with the delivery of the finished product to the customer in the market. It is one of the very important concepts that are essential for company's success as it helps to achieve the economic growth in the industry and also leads to improvement in the standard of living.
Importance of Supply Chain Management in Academic Curriculum
As most of the companies today are using the concepts of supply chain planning and operations along to bring about the resource optimization, so it becomes important for an individual to get insights about them during the course of their study. It would help them to implement these concepts in a practical sense when they would step into the corporate world. Many good firms these days are offering the projects to the students to take in the domain of supply chain management so that they become industry ready. The inclusion of this domain in curriculum actually helps them to choose a career in the same field through which they learn about different supply chain strategies and approaches.
Why students seek advice in Supply Chain Management
The curriculum of this subject has been designed with a view to make the students learn about the advanced concepts of supply chain. These concepts pose difficulty for them to understand like six sigma and lean management. Institutes make the students to do the internship in such domains where they face difficulty in solving the problems as they do not hold the right amount of knowledge.
Difficulties encountered in Supply Chain Management
Companies are giving importance to many of the advanced concepts of supply chain management which are in high usage and demand. Some of them are: Applied data analysis, business logistics, demand planning, global procurement, six sigma and lean management, supply chain finance, retail marketing and business intelligence. These are few of the topics that are in high demand as per the latest industry needs in which the students seek advice from the experts. These are few of the tough topics in which students get stuck while solving their assignments, case studies etc.
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Portfolio of services in Supply Chain Management
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