They make capital available, particularly to smaller players, and lower their risk for participating. Because these funds are large and controlled by relatively fewer players, they allow capital to be raised at lower rates much like insurance systems. Ultimately, these major funds provide stability while supply chains get longer and longer.
There is a lot of room for growth and innovation in the global supply chain finance market, as most borrowers are unsatisfied with their current solutions. The globalization of supply chains has greatly increased the financial risk that corporations have to take on, which is causing GSCF to grow. A unique operator in the supply chain field is the GSCF translator. They are a liaison between logistics and transportation providers, and financial services providers. With expertise in each field, they can bring all parties to the table to work out a deal that takes the needs of each party into account.
They help supply chain operators choose and structure credit solutions that will keep them running, while insuring GSCF providers get a return on their investment. Students interested in this intersection of finance and logistics, along with the opportunity to work globally, should consider pursuing this path. Business logistics management: The production and distribution processes of an organization. Economic Order Quantity EOQ : A tool that helps you decide how to order necessary inventory at minimal cost, taking time and cost of placing an order into consideration. Global Asset Based Lending GABL : A practice that enables middle market organizations to monetize in-transit and other inventory to improve their liquidity.
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Inventory finance: A financing method that allows small suppliers of large buyers to get financing that they hold for said large buyers, which helps maintain liquidity. Receivables management services: Outsourcing receivables management and collections that provides financing and guaranteed payment on said receivables. Supply chain diligence: Using true vigilance and supply chain audits to ensure no entanglement in your supply chain with war, slavery, child labor, excess pollution, and other unsavory global problems.
Supply chain event management: The practice of considering all possible scenarios that may disrupt a supply chain. This enables you to proactively put solutions in place to mitigate risk. With remote workers and competing schedules, managing a global supply chain takes organization, around-the-clock monitoring, and strong, consistent communication.
Investing in a software tool to store, track, and manage all supply chain data can alleviate some of this stress. One such tool is Smartsheet, a work management and automation platform that helps enterprises and teams work better. Whether for supply chain project scheduling and execution, production calendars and communication, or compliance visibility and tracking, Smartsheet helps ensure efficient and effective workflows.
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Improve supply chain visibility with real-time data, increase accuracy with an always-up-to-date picture of projects and strategic initiatives, and accelerate overall production. Reduce inventory and eliminate disruptions to flow, and better facilitate communication with vendors and suppliers. As a cloud-based application, you can access and update information stored in Smartsheet anytime, anywhere, providing greater collaboration and visibility for team members spread worldwide.
In fact, the team at Shaw Industries Group, Inc. We have less to maintain and we're more flexible and more efficient, creating a more sustainable business model. Try Smartsheet Free for 30 Days. In This Article.
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The History of Supply Chains Supply chains have been in effect since the beginning of trade. Modified image of colonial trade ship - Creative Commons The next innovation in supply chains came in the s with the Industrial Revolution, where machines enabled workers to produce more food, clothing, and other goods than could be immediately sold. The complex state of global supply chains today. The essentials skills come down to: Textual: On paper, you need to understand everything from raw materials procurement to parts manufacturing to supplying product development firms, selling to distributors to storing in warehouses, transporting by train, plane, ship, and truck, to selling at retail to end consumers.
This knowledge allows you to design effective supply chains. Analytical: Everyone in supply chain management must be able to analyze data for decision making, read sales and demand data, understand the ramifications of particular aspects like shipping lanes or the fuel and weight factors of a delivery, and measure performance of every step in the chain.
How do you determine if you should outsource production of a product, or insource it handle production with in-house resources? The answer is always data analysis. Interpersonal: The ability to collaborate with others and find mutually beneficial solutions to problems. Though there may be a growing number of robots and AI handling actual product assembly, you will deal with real people at all stages of a supply chain.
Whether in your organization or elsewhere in the supply chain, you must know how to handle people. Topics for GSCM Certification The following topics are important for passing most global supply chain management certification programs, and they all fall under the above skill categories. The program covers all aspects of supply chain strategies, logistics, purchasing, manufacturing, and e-commerce.
Type: Four year B. Their program focuses on managing across boundaries in a firm and throughout a channel. Type: Emphasis within four year B. Noteworthy: Their students have gone on to supply chain giants like Amazon, Boeing, and Goldman Sachs.
Principles of Supply Chain Management
Bryant University Location: Rhode Island, USA Summary: A private school program taught by active supply chain professionals who have taught around the globe, bringing more hands-on experience to their global supply chain theory. Type: Offered as a four year B. Noteworthy: Feeds into their prestigious graduate program. Cambridge University Location: Cambridge, UK Summary: A certification in sustainable value chains for professionals and teams looking to improve understanding of current affairs and CSR.
Active members of nonprofits, governments, and CSR specialists are also welcome. Noteworthy: Discount rates are available for groups, and it accepts global applicants. Copenhagen Business School Location: Copenhagen, Denmark Summary: A full course from the College of Economics and Business Administration which teaches students to design supply chains, build networks, and form corporate strategies.
Noteworthy: The program has a rotating accompanying minor in topics like IT-based supply chain modeling and maritime business. Cranfield School of Management Location: Bedford, UK Summary: A program designed for recent grads who want a role in the supply chain field, and for professionals who want to get to the next level. You must also hold an undergraduate degree. Type: Five day program for helping managers create, optimize, or redesign their supply chains. London Business School Location: London, UK Summary: A supply chain leadership program that offers experiential learning with visits to job sites, simulations, and many guest speakers.
Noteworthy: The program is taught in partnership with a world leader in business consulting, McKinsey. Type: A B. PhD - varies. Requirements: Varies based on level. Noteworthy: Provides international students with 29 months of work and internship authorization after the program completes. Type: day intensive executive master class in supply chain management.
West Virginia University Location: West Virginia, USA Summary: A foundational program in supply chain management that provides students right out of high school with networking opportunities and professional experiences. Noteworthy: Strong ties to the Supply Chain Management Association, providing endless networking opportunities for students. SCM Professional Organizations and Clubs with Certifications Global supply chain management benefits from a large number of professional associations, which not only provide opportunities for networking and career advancement, but also provide training for students and professionals alike.
Books on Global Supply Chain Management Another way to stand out in your class is by looking for self-directed study beyond online courses. Supply Chain Processes The following processes are common to all supply chains. Benefits of GSCM Reliability: Global supply chain management means increasing reliability and predictability for suppliers, buyers, and the end consumers.
Challenges of GSCM Ethics in supply chains have been a long standing problem, as this early s poster shows - Wikimedia Increased cost, complexity, risk: Extending a supply chain beyond your direct control invites increased risks, as more moving parts are complicated to control.
Instilling this focus in all partners and liaisons can prevent waste in the global supply chain. This also helps determine what regions to send and sell product to, how to manage shortages, and generally how to make decisions that benefit the global organization not just regional leaders with self-serving interests.
Build Strong Supplier Relationships: Build relationships beyond transactional, with larger sets of strategic suppliers who offer more than a core product or service, but instead marry entire industries together, enabling sustainability and integrated profitability. Find local talent who can bridge culture and language barriers and also send talented, loyal team members to your various regions and suppliers to ensure you have an honest account of local situations. Additionally, consider using incentive systems to keep distant parts of your machine running.
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Install a Rapid Response System: Create visibility throughout your supply chain so that you can quickly recognize and mitigate disasters of all sorts as soon as they occur. This requires all other parts of the best practices to be in place - reliable IT systems, loyal local representatives, simplified suppliers, and strong relationships.
Politics: Do the politics of this country support supply chain activities? What regulations are there on business, and how much bureaucracy and corruption are there? Are your products going to be held up in customs? Infrastructure: There are three measures - their energy infrastructure, physical infrastructure, and telecommunication infrastructure. This also takes the geography of the country into consideration. Are roads in good condition; will you be able to get things shipped out on time? Organizations of significant size may even consider investing in infrastructure to take advantage of other factors in the area, like steady workforce or low real estate costs.
Competence: This measures how productive and skilled the labor force and the logistics industry is within and around the country. Also worth considering are culture, history, and other soft issues. Here are some of the base parts of this decision-making process: Strategy Driven: All design decisions need to support your overarching business strategy.
Identify risk, allow for innovation, and build with responsiveness to threats in mind. Scalable: Make design choices that increase the scale of your business to keep up with demand and further growth. You must be able to justify every decision. Here are the three major structures that have formed in this environment: Buyer managed platforms: The buyer owns the supply chain finance platform, onboarding suppliers as they are contracted and determining the terms of liquidity.