Supply chain resilience is particularly important in times of crisis. Today there is no time to debate which system is most appropriate and which approach most effective. Under uncertain conditions, one cannot rely on one-sided solutions. Instead of proposing special strategies, forecasting methods, and ideal stock replenishment techniques, this course focuses on improving the full range of supply elements, aimed at creating supply chain resilience.
At the strategic level, the course examines most of the processes related to sourcing. The course analyzes the advantages of the widely used “pull” strategy and discusses the interesting method of customizing the product at the last minute for the most accurate response to the customer’s order. In parallel, proven best practices for shorter lead times, lower inventory levels, and better response to changing markets are explained.
The training takes a practical look at the strengths and weaknesses of the forecasting methods of exponential smoothing, moving average, and trend analysis. The course focuses on the bullwhip effect and shows how to overcome its symptoms: shortages, delayed and canceled orders, unstable schedules, chronic overstocking.
The Economic Order Quantity (EOQ) method is presented with examples which show how decisions for optimal orders are made, which reduce the annual total cost of inventories. The course introduces the concept of Total Cost of Ownership (TCO) when estimating the real value of assets in time. Today, more and more companies are applying the activity-based valuation method (ABC). The course focuses on this part of the shift of the analytical focus from revenue estimation to profit contribution and elimination of unnecessary costs.
Through examples and illustrations, the training also shows how the evaluation and selection of potential suppliers in done in accordance with the Weighted-point Method and the Cost Ratio Method. The course also discusses the classification of supply risks and presents a useful analytical tool – the Supply Chain Vulnerability Map.