My learning journey in Supply Chain Dynamics
My learning journey in Supply Chain Dynamics has been an enriching experience, providing me with the necessary knowledge and skills to navigate the complexities of managing a supply chain effectively.
At the beginning of my journey, I started by learning the fundamentals of supply chain management, including the different components of the supply chain, such as procurement, manufacturing, logistics, and distribution. I also gained a deep understanding of the various strategies and techniques used to optimize these processes and ensure the smooth flow of goods and services throughout the supply chain.
As I progressed further, I began to explore the various challenges and complexities that arise in managing a supply chain. This included understanding the impact of demand variability, supply chain disruptions, and risks, and how to manage them effectively. I also learned about the different approaches to supply chain design, such as lean supply chain and agile supply chain, and how they can be applied to different industries and contexts.
One of the most valuable lessons I learned during my journey was the importance of collaboration and communication in managing a supply chain. I learned how to build effective partnerships with suppliers, customers, and other stakeholders, and how to coordinate and communicate with them to ensure the smooth operation of the supply chain.
Finally, I had the opportunity to apply my knowledge and skills in a real-world setting, through various case studies and projects. This allowed me to see first-hand how the concepts and techniques I had learned could be applied in practice, and how to deal with the challenges and uncertainties that arise in real-world situations.
Week 1: Introduction to Supply Chain Dynamics
- Read introductory materials on the basics of supply chain management and dynamics
- Attended the first lecture and participated in the class discussion
- Completed the first assignment, which involved analyzing a case study on supply chain challenges in a manufacturing company
I found some problems quite interesting:
Part 1
Consider the operations for the previous year. For the retailer, the variance of customer demand at a weekly level was 4053 rolls. The variance of orders at a weekly level for the retailer, wholesaler, distributor, and manufacturer, was 5864, 10106, 11538, and 15591 rolls respectively.
Note that the variance of orders equals the variance of demand for that firm’s supplier. The customer for each level in the supply chain would be the level downstream to it. For example, the customer for manufacturer would be the distributor.
Determine the size of the bullwhip effect for the retailer.
Week 2: Demand Forecasting
- Learned about demand forecasting techniques and their applications
- Participated in a group discussion on how to forecast demand for a new product launch
- Worked on a group project to forecast demand for a fictional product using different forecasting methods
I found some problems quite interesting:
Part 1c
“inventory correction” is the rate which captures the correction for a deviation of Inventory from its target.
“inventory correction” depends on “target inventory”, “inventory” and on “time to correct inventory”.
Choose the correct formulation (equation) from the below options
Week 3: Inventory Management
- Studied inventory management techniques, including safety stock, lead time, and reorder point
- Analyzed a case study on a company’s inventory management challenges and suggested potential solutions
- Completed an individual assignment on calculating safety stock levels for a given set of data
I found some problems quite interesting:
CommunCo
CommunCo is a worldwide leader in the communication electronics industry and provides a wide range of technology solutions for many industries including major manufacturing, technology, and retail companies. CommunCo solutions has regular demand and product volume with businesses with very minor requirements such as video-conferencing or wi-fi devices. But it also services more complex clients such as big corporations requiring call-centers, cloud-services, or customized data servers. They have recently implemented a supply strategy called Lean-CommunCo, focused on reducing the number of suppliers. These suppliers are qualified but most of them are new suppliers for CommunCo.
Part 1
Using Lee’s matched strategies matrix, what supply chain strategies might CommunCo use for the customized data servers?
Using Lee’s matched strategies matrix, what supply chain strategy should CommunCo use for the regular wi-fi devices for retailers?
Overall, my learning journey in Supply Chain Dynamics has been an exciting and rewarding experience, providing me with the necessary knowledge and skills to tackle the challenges of managing a supply chain effectively. I look forward to applying these skills in my future endeavors and contributing to the continued success of supply chain management.
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