Supply Chain Management Lecture
Sanny Olafeso
With a degree in logistics and supply chain management, you'll be able to provide global organizations with a competitive edge through learn, efficient operations. You'll learn the critical skills and specialized knowledge to reduce inventory costs, streamline processes, improve the customer experience and enhance profitability.
Logistics management professionals manage, coordinate and transport products from raw materials to finished goods, and those with a bachelor's degree in the field are primed to step into nearly any industry. Demand for logistics professionals is growing rapidly as firms realize the benefits of increased profitability through improved efficiency. Employment growth will be driven by critical role logistics and supply chain management play in the transportation of goods in a global economy.
A supply chain includes supply, production, storage, distribution, and selling facilities that are connected by material, informational, and financial links. Since facilities are not necessarily connected in a serial fashion, despite its name, a supply chain describes a network of connected facilities. Supply chain management (SCM) includes the strategic design of this network and choice of its capacity; the tactical planning of this capacity and related management of production, inventory, and logistics activities; and the operational control of the flows of materials, information, and money and the stocks of physical goods in this network.
The goal of SCM is to maximize the economic value that can be generated by managing these decisions. Depending on the context, this may involve an objective of profit/margin maximization or cost minimization. Typically, economic value maximization is associated with matching the supply of products with its demand: excess supply is too costly and inadequate supply irritates customers. Information technology and systems, such as radio frequency identification tags, enterprise resource planning systems, and advanced planning and inventory optimization systems greatly facilitate this task. Increasingly, the concept of risk, arising from supply and/or demand uncertainty, has been attached to supply chains - either to quantify the risk of supply/demand mismatch, or the risk involved due to a potential disruption of the supply chain (due to natural or man-made factors). Flexibility and responsiveness are useful strategies and tactics to manage supply chain risk.
This course explores how firms can make better SCM strategic and tactical choices. The course includes the following units: (1) Inventory Planning (both single stage and multiple stages); (2) Coordination; (3) The Inventory-Order Interface; and (4) Network Design. Throughout, this course illustrates mathematical analysis and qualitative principles applied to real SCM challenges, that is, the tools of SCM, with an emphasis on approaches to increase the flexibility and responsiveness of a supply chain. A substantial part of the course will focus on discussing advanced multistage inventory planning practices embedded in modern SCM software based on managing inventory from a network, rather than single site, perspective, and the practical benefits from their adoption.
The aim of the course is to provide both strategic insights and tactical knowledge needed by supply chain consultants and managers. We seek both rigor and relevance. We will demonstrate that companies can use (and have used) the tools from this course to significantly enhance their competitiveness. The course material is thus of particular importance to students interested in management consulting and managerial careers.
The course format includes lectures, case discussions, analyses of successful supply chain management practices, and, depending on availability, practitioner guest lectures. The course learning objectives are to teach students how and when to implement the tools of SCM, and to provide them with rigorous and practically relevant SCM education from the point of view of a strategic, high-level manager or consultant. (2/13-NS)
Supply chain management is a critical function that involves the coordination and optimization of the entire process of delivering products or services to customers, from raw material sourcing to production to distribution.
The definition of supply chain management has expanded to include both cost containment and product/service innovation. Linear supply chains have become more complex and adaptive networks. In the past, cost containment was inevitable tradeoff for product/service innovation. Today, companies must focus on supply chain excellence including cost containment, product design, and customer relationship management.
We basically provide the same curriculum of big schools like Ohio and Michigan State SCM programs in a small classroom setting. We forge strong partnerships with companies in various industries such as Swagelok, Nestle, Cleveland Clinic. We offer internship opportunities, co-op programs, and real-world projects to give students hands-on experience and networking opportunities. We use experiential learning where we use case studies, simulations, field trips to distribution centers or manufacturing facilities, and guest lectures by industry professionals. We stay current to prepare students for the evolving industry landscape and cover topics like blockchain in supply chain, automation, artificial intelligence, and sustainability practices.
Internally organizing operationsEmployers seek out our SCM graduates because of their:Upon graduation, students will hit the ground ready and running, able to rethink and re-engineer business processes in a variety of settings, types and sizes.
Contemporary topics in supply chain management not covered in depth in other business supply chain courses. Specific topic, method of presentation, and student requirements will be designated by the seminar leader. Prerequisite: SCM 328 or SCM 3328, or as announced.
The design and implementation of supply chains to maximize their effectiveness and efficiency. Focus on the analysis and design activities of the supply chain development process and introduction to system implementation and maintenance issues. Prerequisites: BI 200 or BI 2200 and SCM 328 or SCM 3328 and one of (SCM 330 or SCM 3330, SCM 350 or SCM 3350, or SCM 361 or SCM 3361.
Focuses on professional purchasing. Emphasis on category analysis, supplier selection/development, and cost analysis. Also covers corporate social responsibility, negotiation, quality, and technology integration. Prerequisite or corequisite: SCM 328 or SCM 3328.
Contemporary analysis of transportation systems, including regulatory issues, carrier management, for-hire and private transportation. Covers characteristics of traditional and emerging modes of transportation. Prerequisite or corequisite: SCM 301 or SCM 3301 or by permission of instructor.
Principles and practices of supply management in a global environment. Emphasis on the regulatory, technological, social, business, and political issues that might impact transnational supply-chain efficiency. Prerequisite: SCM 328 or SCM 3328.
Provides coverage of consumer behavior theories, frameworks, concepts, and tools to understand consumers and uncover insights relevant for business and policy. Students learn to generate original consumer insights to create real-world marketing recommendations. Topics drawn from psychology, social psychology, sociology, cultural anthropology, and behavioral economics. Offered spring semester only; should be taken in junior year. Prerequisite: MK 301 or MK 3301.
Examination of the quantitative tools marketers use to develop, monitor, and evaluate marketing strategies. Topics include the use of Qualtrics online survey tools, statistical analysis using SPSS, including correlation analysis, difference analysis with t tests, ANOVA, and multiple regression analysis. Senior standing required. Prerequisite: MK 301 or MK 3301, AC 202 or AC 2202, and (EC 210 or EC 2210 or MT 223 or MT 2230 or equivalent level of statistics). Offered fall semester only; should be taken in senior year.
Application of mathematical optimization to decision-making. Uses MS-Excel and several add-ins as tools to find optimal solutions to a wide variety of business problems. Topics include linear programming, network models, non-linear programming, goal programming, decision trees, and simulation. Prerequisites: (EC 210 or EC 2100 or MT 122 or MT 1220 or MT 228 or MT 2280) AND BI 200 or BI 2200.
Study principles and methods helpful in planning and controlling a project, including developing a project plan, budgeting, resource planning, scheduling, and project monitoring and control. Study of selected computerized packages, including Microsoft Project, with examples of projects from manufacturing and service industries. Prerequisite or co-requisite: SCM 301 or SCM 3301.
Study of issues and practices related to corporate reward practices and managing performance. Topics include job analysis, job evaluation, and performance management theory and techniques, incentive and fringe benefit systems, and the legal issues related to performance management and rewards. Prerequisite: MHR 301 or MHR 3301 or PS 259 or PS 2590 (may be taken as a prerequisite or corequisite), or permission of Department Chair.
Study special issues and advanced management and organizational leadership topics. Topics include employee well-being, diversity, equity, and inclusion initiatives, people analytics, employment law, organizational development, leadership, ethics, sustainability, and other trends in management and organizational leadership. Students research a topic of choice. Prerequisites or corequisites: MHR 376 or MOL 3376, MHR 453 or MOL 4453, MHR 470 or MOL 4470, Senior standing, or permission of Department Chair.