It has now been established without any doubt whatsoever that lean supply chains and efficient logistics systems lead directly to increased bottom line profits. Leading edge companies which successfully gain competitive advantage and which are able to implement immediate cost savings, are those which possess knowledgeable and skilful logistics professionals.
As more and more responsibility is placed on the Logistics function, the need has intensified for its practitioners to be highly skilled in the various elements of Supply Chain Management and to be completely up to date with best practices in the industry both national and international. Logisticians must take their place alongside engineers and accountants as proficient and exceptionally well-trained professionals.
Upon completion of this course, participants will be able to
• Provide a working definition of value
• Compare the various perspectives of value and understand that supply chain management enables companies to manage the trade-off between these perspectives
• Identify the three ways to measure value: operational, customer, and financial
• Explain the causes of non-value-added activities
• Understand that supply chains increase net value by increasing value-added activities as well as minimizing non-value-added activities
• Identify how supply chains create net value according to the three ways of measuring value.