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Supply Chain Management

Study Supply Chain Management
Study Supply Chain Management

Supply Chain Management

Suppliers seek to develop and implement supply chains as practical and cost- effective as possible through supply chain management (SCM). Supply chains encompass everything from manufacturing to product development and the information systems required to coordinate these activities.
Typically, SCM aims to centralise or link a product's production, shipment, and distribution. Companies can cut costs and distribute products faster by managing the supply chain. Internal inventory levels, engineering and quality, distribution, sales, and company vendor inventories are all tighter control.
Effective supply chain management processes reduce cost, waste, and duration in the product cycle. A just-in-time supply chain, in which retail sales automatically signal inventory levels to manufacturers, has become the industry standard. After that, retail shelves can be restocked just as quickly as products are sold. Analysing supply chain partners' data and seeing where further improvements could be made is one way of improving this process.

Read further to know what important content will be covered under this topic?

  • History of Supply Chain Management & its current relevance
  • Top Universities in Europe are offering Supply Chain Management studies.
  • what is the eligibility criteria to get admission into the Supply Chain Management
  • scope of Supply Chain Management concerning career demand
  • What career roles can one expect after studying the Supply Chain Management field?
  • Salaries Graduates can expect after Supply Chain Management studies
  • Top companies employing Supply Chain Management in Europe
  • Conclusion
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Study Supply Chain Management

History of Financial Technologies & its current relevance

The initial stages

Rum was probably the first example of manufacturing with a "truly global supply network." Enslaved people were transported from Africa to the Caribbean to grow sugarcane imported from India, and the supply chain ended in distilleries in the United Kingdom.
Of course, if we consider the early stages of supply chain-related areas like logistics, we must go much further back in time. Roads, organised labour, transportation, and armies were introduced by ancient empires from Peru to Rome, paving the opportunities for sustainable development of logistics as a separate field. Considering the land, human capital, food sources, and property, all of this necessitated a massive organisational effort.
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Technological progress

The personal computer's invention in the 1980s sparked the development of more new technology that significantly impacted supply chain management, such as excel spreadsheets, optimisation techniques, and algorithms that might predict logistics issues in a supply chain. These addressed issues with planning, resource management, and forecasting, making it much easier to visualise, save, and share information about the entire supply chain.
The advancement of systems such as Enterprise Resource Planning, or ERPs, an extended version of the Electronic Data Interchange (EDI) systems introduced decades earlier, was closely followed by the formation of faster and stronger computers. ERPs allowed companies to use software to manage their activities, such as automating business operations, centralising data, managing finances, and measuring progress.
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Top Universities in Europe offering the Supply Chain Management studies

Bachelors Level

  • Jacobs University, Bremen, Germany
  • INSA Business, Marketing & Communication School, Barcelona, Spain
  • Oxford Brookes University, Headington, United Kingdom
  • Fontys University of Applied Sciences, Venlo, Netherlands
  • University of Groningen, Groningen, Netherlands
  • University of Sussex Business School, Brighton, United Kingdom

Masters level

  • ENAE Business School, Murcia, Spain
  • Arden Study Centre, Berlin, Germany
  • Rotterdam University of Applied Sciences, Rotterdam, Netherlands
  • IMT Mines Albi, Toulouse, France
  • Robert Kennedy College, Salford, United Kingdom
  • Cranfield School of Management, Cranfield, United Kingdom
  • Oxford Brookes University, Headington, United Kingdom
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What is the eligibility criteria to get admission into Supply Chain Management?

Bachelors Level

  • Students really should have completed 10+2 from a recognised board in any subject.
  • The average grade ranges from 45 to 50 per cent.
  • English proficiency exam results of at least 6.5 bands in IELTS, 80-100 in TOEFL, and 61-73 in PTE academic are required.

Masters level

  • A second-class honours degree in business administration or a second-class degree in supply chain management is required.
  • It is necessary to have a 60% – 70% average or equivalent.
  • Students with industry experience and a professional undergraduate degree are also favoured.
  • English proficiency test scores of at least 6.5 bands in IELTS, 80-100 in TOEFL, and 61-73 in PTE academic are required.

Scope of Supply Chain Management

The field of logistics has been positively affected by the ever-increasing breakthroughs in automation. As a result, every formation will use mechanisation and supply chain management to carry out their production simultaneously in the future. Given this, the field of supply-chain management has a lot of potential in the future.

What career roles can one expect after studying the Supply Chain Management field?

So, let's go over each of the jobs mentioned above directory listings' roles, obligations, and pay rates.

Manager of Purchases

A purchasing supervisor or supply supervisor is another name for a purchase manager. The Manager's job is to find the best possible quality at a lower price when purchasing goods or services for resale or company use.

Strategic Strategist:

Strategic planning for medium and large businesses is the responsibility of a strategic planner. As part of their responsibilities, Strategic Planners must be aware of all aspects of their employer's business and present possible suggestions to senior decision- making. A strategic planner's job is a white-collar, entry-level position.

Materials Architect:

A material analyst is responsible for ensuring that goods flow smoothly between a company's distribution chains. A materials analyst assists a company with a variety of tasks. He guarantees that a company's inventory is up-to-date and adequate to support any future projects the company wishes to pursue.
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Manager of Supply Chain:

In the manufacturing process, the supply chain manager is crucial. Supply chain managers, or SCMs, impact their companies from the beginning of the new product development to the time the finished product is shipped by lending their expert knowledge to finding ways to improve safety, effectiveness, and productivity.

Warehousing Supervisor:

Warehouse managers are in charge of receiving, storing, and dispatching various goods. You'll work with people, procedures, and structures to ensure that goods are received and delivered correctly and that productivity goals are met as part of a critical part of the supply chain procedure.

Salaries Graduates can expect after Supply Chain Management studies

  • Supply Chain Analyst - £25,783
  • Demand Planner - £31,375
  • Procurement Manager - £50,221
  • Business Continuity Coordinator £20,756
  • Supply Chain Planner £37,447
  • Purchasing Manager £32,68
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Top companies employing Supply Chain Management in Europe

  • Wincanton, Chippenham, United Kingdom
  • Schneider Electric, Rueil-Malmaison, France
  • Nestlé, Vevey, Switzerland
  • Inditex, Municipality of Arteixo, Spain
  • Diageo, London, United Kingdom
  • Adidas, Herzogenaurach, Germany
  • Danone, Paris, France

Conclusion

The way supply chain management is done in the future is likely to change dramatically. Thanks to the Internet of Things (IoT), businesses will build and execute new systems while production is ongoing, thanks to the Internet of Things (IoT). This will force companies to think about future product life and current product distribution.
Supply chain management may see significant changes in both operational needs and each procedure along the supply chain due to the integration of technologies such as blockchain. The use of blockchain and smart contracts can meet customer demands for clarity and global growth for stable and safe transactions.
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