Supply chain managers are often faced with multiple goals, some of which may compete with one another. To combat this, you can set priorities for goals, you can create combined metrics, or you can create a balanced score card.
- Supply chain management is about making trade offs.…You have to maintain balance in order to meet multiple goals…such as keeping costs low, providing a high level of service…and earing a profit for your business.…Using a balanced score card is a great way…to track performance along different dimensions…so that you can keep your supply chain running smoothly.…Let's look at how a balanced score card works.…Balanced score cards started to become popular…because of a 1992 article in Harvard Business Review.…
Before that managers were often taught…to focus on a single number…as the best way to measure success.…An inventory manager might focus…on maintaining a high service level.…An operations manager might focus on…maximizing capacity utilization.…And the CEO might focus…on maximizing the company's profitability.…While each of these goals sounds fine on it's own,…when you look at them together,…you see there's a conflict.…For example the inventory manager might try…to improve service levels by carrying lots of inventory…
- Explore the fundamentals of source inputs within a supply chain.
- Examine the role of returning products in a supply chain.
- Determine how to calculate total costs.
- Explore the role of investing in flexibility when managing a supply chain.
- Discover how to increase visibility with a control tower.
- Identify the role innovation plays in supply chain management.
- Examine how artificial intelligence and machine learning help to monitor supply chain trends.
- Break down the fundamentals of selecting the right technology when implementing a supply chain agenda.
- Determine the best ways to collaborate externally when implementing a supply chain agenda.