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supply chain management certification

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TOP SUPPLY CHAIN MANAGEMENT CERTIFICATIONS

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Like many other professionals, individuals in supply chain management can get various certifications to enhance their qualifications and advance their careers. With multiple supply chain certifications to choose from, it can become a task to choose the right one. Therefore, you need to have the best APICS certification from the leading SCM Guru.

Moreover, earning a supply chain certification can help you in your job as well as your business. For beginners, getting certified can prove your credibility and that you meet or exceed the core certification requirements. This will make you more attractive to potential employees. Also, it will make you a stronger job candidate among the pool along with better career and pay opportunities.

So, here are the top supply chain management certifications you can choose from as follows:

  1. Certified in Planning and Inventory Management (CPIM)

This APICS Certified in Planning and Inventory Management (CPIM) requires your eligibility as having three years related experience or a bachelor’s degree or equivalent. CPIM is best for individuals aiming to learn production planning and scheduling and inventory management. The certification provides all the individuals with a solid grounding in the terminology and through a process that is involved in production and inventory management.

  1. Supply Chain Operations Reference (SCOR-P)

This endorsement links business processes, performance metrics, practices and people skills into a unified pattern and structure. With this certification, you get a validation of your knowledge in the supply chain operations reference model. To acquire this endorsement, you will have to appear and pass the examination.

  1. Certified Supply Chain Professional (CSCP)

This certification provides you with a mastery of supply chain management best practices and distinguishes you as an industry expert with specialized, high-level knowledge and skills.”

This certification teaches you to consider the supply chain from a broad perspective, view the relations between the areas of planning, sourcing, manufacturing, delivering and observe how the overall supply chain integrates.

  1. Certified in Logistics, Transportation and Distribution (CLTD)

More than just a certificate, being Certified in Logistics, Transportation and Distribution (CLTD) will make you develop an in-depth understanding of how to streamline logistics, transportation and distribution including order management, distribution inventory management and warehouse management.

You’ll be able to join a network of professionals in transportation, logistics and distribution who are committed to creating exceptional and innovative solutions for the industry. Also, you’ll advance your ability to lead in this industry with the best practices always.

Once you gain the certificate, you get to add the credential to your resume, list it on your LinkedIn profile and include certification letters to enhance your potential and credibility. At KnoWerX, we offer a wide range of the leading and best courses on SCM for you to choose from and advance your career. We serve as your SCM Guru and guide you to the best path that leads to success. As a trusted partner of APICS, you can always rely on us for the best APICS certification courses.

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WHAT IS THE BEST WAY TO STUDY FOR AN APICS CPIM CERTIFICATION?

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A leading professional association for supply chain and operations management, APICS offers the Certified in Planning and Inventory Management (CPIM) program. Owing to the widespread benefits and value of the certificate, many candidates choose to take up the courses on SCM. However, the hard part for them comes when it is time to study and prepare for the certification. Here’s how you can study for a CPIM APICS certification.
Step 1
Create a study plan
• You need a study time investment of 175-225 hours – According to 50 percent of successful candidates, they dedicated 30 to 50 hours or more per module
• Start preparing early – Do not wait for the last moment to start your preparations
• Assess your areas of weaknesses and strengths and work on them
• Create a step-by-step plan and learn in segments
• Stick to your plan once you have created it
Step 2
Study the study material
You will not find any substitute for the study material for each module provided by APICS. They have appropriate information one needs to understand in order to ace the exam. Therefore, before you decide to look into other study modes, first have a look into the study modules.
It is always recommended to follow the study material provided by APICS to study for your APICS CPIM certification.
Step 3
Reinforce the concepts
Always study and review the reading material; complete all the exercises; complete all the performance checks and use the online CPIM study tools to study. Once you complete studying all the concepts, reinforce them to check your knowledge.
Review the body of knowledge covered in the manual, self-study guide and practice your exam with the CPIM exam simulator. Complete the self-assessment, build a study plan and complete the course material and practice.
Step 4
Practice for the exam
The last thing you must do is practice for the exam. Practice will help you in assessing your knowledge and learning to date. Determine your strengths and weaknesses, review the material, review session solution slides and online assessment all while you practice.
Here are a few study tips
• Choose the right method for your learning style
• Set your exam date to avoid procrastination
• Determine and know your strengths and weaknesses
• Study the manual and module provided by APICS
• Once you know your ‘knowledge gaps’, spend time on studying and improving them
• Do not only memorize but also understand how you can apply the concepts
• Be prepared for the test format and testing centre
• Don’t leave anything to the last minute

As a Premier Elite Partner of APICS, KnoWerX offers a wide range of APICS certification courses from which individuals can choose. Alongside, candidates get the right support and guidance needed to prepare for and ace the CPIM (Certified in Planning and Inventory Management program) APICS certification with KnoWerX, the best SCM Guru.

APICS CERTIFICATION: A POWERFUL WEAPON

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Companies in the 21st-century demand leaders who can manage and evolve within a global context along with staying in tune with the change in the supply chain industry. With increased competition and escalating customer demand, companies need to adjust to new technologies and modify their business conditions simultaneously.
Any successful company in this era will need value-driven world leaders to leverage the best of people as well as technology. Any organization will be as effective as the leadership they have. Just as these organizations need to evolve, new leaders need to come up. And, these new leaders should be capable of conceptualizing and developing their organizations to attain organizational goals.
In this new level of leadership, professional societies like APICS are emerging as important players. For example, with an APICS certification, an individual becomes capable of facing the new facts of life in the organization. Several APICS certification courses such as APICS CPIM and CIRM help individuals address the new demands of organizations today. Moreover, these programs continue to evolve with time and changes in the workplace.
APICS Certification Courses
Individuals can specialize in many SCM courses provided by APICS, such as CPIM and CIRM. Let’s explore a little more about them.
What is CPIM?
The Certified in Planning and Inventory Management program offers you the strategic advantage that one requires to compete and excel in today’s workplace. Similar to successful organizations adapting to the changing business scenario, this CPIM program has also evolved to stay in tune with the current practices and knowledge.
Participating in the CPIM program will help the individuals to achieve recognition for their knowledge as well as acquire the required education important for staying competitive in today’s market. Also, individuals with a CPIM certification have increased functional and technical knowledge, enhanced credibility, evident commitment and professional competence.
What is CIRM?
Having an integrated approach to managing the business is the need of the hour which encompasses partnership with customers and suppliers as well as understanding global operations among other needs. Therefore, APICS termed this new concept as Integrated Resource Management.
CIRM or Certified in Integrated Resource Management is an emerging field of study designed to expand the horizons of individuals taking up the course. Individuals who are working in consulting, manufacturing and service industries in finance, accounting, sales/ marketing, engineering, human resource and product control role and take this certificate to gain cross-functional knowledge and team-based skills. It not only prepares the candidates to prepare themselves for leadership roles but also provides them with a strategic perspective on the global workplace environment and an improved ability to manage.

KnoWerX is a Premier Elite Partner of APICS offering the finest APICS certification to you. You can get courses on SCM that come along with plenty of benefits from the best SCM Guru. Moreover, KnoWerX will help you become a strong and potential candidate in the field with a certification of APICS CPIM and CIRM bundled with the right guidance and support.

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APICS Certified SCM GURU KnoWerX

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Because of the cyclical nature of business and market instability, Supply Chain Management and Logistics are always at risk. With risk management still in its infancy, Supply Chain Management will need to grow significantly. Risk will rise and become more costly as the supply chain develops and becomes more complicated.

Effective supply chain risk solutions are dependent on the company plan and its compatibility. Let’s look at an example to help you understand. The company’s supply chain activities must be in sync with the company’s overall strategy. If not, the supply chain will become a source of risk for the entire company. KnoWerX provides the best Supply Chain Management and Logistics certificate, which will assist you in building risk management skills as well as other supply chain or industry features. Having a supply chain certification like APICS Certification will allow you to handle risk more effectively.

Risk Management Causes and Challenges

To eliminate supply chain risks, the SCM GURU KnoWerX manager must first determine what is causing the risk (s). Knowing the reason aids in the development of effective and long-term treatments. Finding the sources of the hazards, on the other hand, is no easy task. Missing information, a lack of communication, and a high level of complexity are among the roadblocks.

Supply chain risk management courses help students learn about and comprehend the many facets of Supply Chain Risk Management.

What is the significance of this?

Supply Chain Risk Management can assist firms in surviving and benefiting from these risks in these difficult economic times. It mimics various supply chain best practices and enhances supply chain partner relationships by providing relevant risk information. It also gives insight into hazards across the supply chain.

Result…

The number of jobs in Supply Chain Risk Management is on the rise

Every organization must strike a balance between risk and return. A better track record necessitates a higher level of risk. Risk management may help you do this by ensuring that risk exposure is reduced as the business strives to meet its objectives.

Risk Management – For A Competitive Advantage

In the event of any risks or unanticipated occurrences, a firm with improved risk management might gain market share from its competitors. This improves the organization’s ability to detect, mitigate, and eliminate hazards that might result in unneeded or unavoidable expenses and time. Furthermore, these advantages are always multiplied when implemented across the supply chain.

Conclusion

Keeping a warehouse running in all conditions necessitates skills, knowledge, and competence, which the best certification may assist you in gaining. It will help you get closer to your goal of being a successful and experienced supply chain expert with superior risk management knowledge and abilities. SCM certification personnel are more equipped to confront and manage risk management many levels and difficulties.

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How Six Sigma Can Improve Your Customer Service

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Six Sigma Certification is a quality management philosophy that gives organizations a roadmap for improving operations and reducing unproductive behaviors that contribute to poor customer service. Companies may use the Lean Six Sigma approach to focus on producing and delivering near-perfect goods and services.

The goal is to keep defect rates below 3.4 per million. DMAIC (Define, Measure, Analyze, Improve, and Control) and DMADV (Define, Measure, Analyze, Improve, and Control) are two Six Sigma methods (Define, Measure, Analyze, Design and Verify). While the DMADV technique is frequently used to design new goods or processes, DMAIC, Six Sigma’s core methodology, is primarily concerned with improving current products and processes. This is particularly essential in the customer service sector since it helps you eliminate faults and guarantee that your company achieves and maintains an optimal level of performance.

How can Six Sigma help in improving your customer service?

To apply for SCM certification customer service, you must first identify the essential variables to the quality of the consumers who demand service. The major focus is on enhancing service capabilities, efficiency, and consistency and implementing Six Sigma in the customer service system.

  • Define Customer Service: In the first Sigma, the problem is identified and the objectives that must be met. This initial stage defines and comprehends the customer service issue.
  • Measure Customer Service: In the second Sigma, data and the impact of problems are measured. Look for everything related to customer service actions so that the perfecting of the service offering may be planned.
  • Customer Service Analysis: In the third sigma root cause analysis is carried out. After the problem has been recognized, its impact quantified, and the problem’s details emphasized, the action in progress may be examined and what contributes to the problem.
  • Improve Customer Service: The customary solutions are covered in the fourth Sigma.
  • Customer Service Controls: In the fifth Sigma, controls are developed to continue the proper procedure. Controls are needed to guarantee that the job being done is of high quality and triggers in place to prevent faults.
  • Perfect Customer Service: In the sixth Sigma, outstanding service is provided at near-perfection levels, with just 3.4 bad customer service encounters per million.

 

Define the problems that customers are experiencing

The first step is to list all the problems that your clients are having. To identify the issues, a variety of approaches and instruments can be employed. Include your customer support teams in the process and define and allocate the resources needed to detect problems. Next, create a timetable of actions to be completed to manage the situation, and set realistic deadlines for each activity. Finally, don’t forget to match your project goals to the needs and expectations of your customers.

Measure the problem by collecting important information

After you’ve defined the problem and its parameters, you’ll need to collect data important to your project’s scope. Make a note of all the specifics related to the problem and build a step-by-step plan for dealing with it. Identify the procedures that lead to the problem and the areas that need to be improved. All essential data about the customer service issue must be gathered. For example, the kind and frequency of the problem and the number of consumers affected are all critical details.

SCM GURU KnoWerX is here to assist you in achieving your goals towards Customer Satisfaction. For more details on Six Sigma Certification, get in touch with our Team.

 

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SCM Talk Show-Supply Chain Risk Management, Episode 3.

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WHAT IS LEAN SIX-SIGMA CERTIFICATION IN SUPPLY CHAIN MANAGEMENT?

WHAT IS LEAN SIX-SIGMA CERTIFICATION IN SUPPLY CHAIN MANAGEMENT?

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Expecting an organization to manufacture and distribute a product with Six Sigma efficiency can seem to be an unrealistic task. However, this is possible, as several successful companies have proven this by having well-operated supply chains which are managed by supply chain professionals.

Today’s competitive market does not require just quality products but also a quick and efficient one to achieve maximum profit and customer satisfaction. This objective is accomplished with the implementation of Six Sigma methodologies. Individuals with Six Sigma certification can greatly benefit from the same and climb up the professional ladder at a great pace. But what exactly is the Six Sigma SCM certification? With the finest SCM Guru KnoWerX, let’s explore what is Lean Six Sigma certification in supply chain management.

What is Lean Six-Sigma SCM Certification?

A methodology that utilizes statistical concepts and tools to identify the defects or variation in a process is termed Six Sigma. Having an accredited Six Sigma SCM, certification implies that the individual has attained the particular knowledge and understanding in the application and study of this methodology. With this type of certification, you can be a valuable asset in any industry well significantly enhance your career.

Despite the roots of six-sigma certification being in the manufacturing sector of business, upon the manufacturing of the product, it needs to reach its destination to be profitable for the company. Before that, organizations will have to acquire raw materials – often in bulk, to manufacture the product before they sell it. The supply chain forms a sequence of the processes involved in the distribution and production of the product or service. Owing to the complexity of the task, supply chain management was born.

Supply Chain Management (SCM) is the broad range of coordinated activities required to plan, control, and execute a product’s flow from acquiring raw materials through a company to its distribution to a final customer. This process should be as streamlined as possible and cost as little as possible for maximum profit. SCM and Six Sigma naturally work together to perfect the supply chain in a corporation. The main goals of the Six Sigma process are to find, diagnose, and fix errors or defects, wherever they may exist in the supply chain. Six Sigma experts look at each phase to determine where the defects are coming from and how they could be reversed from their root cause, leading to a sustainable 6 sigma level of perfection. This increases customer satisfaction and bottom-line profit. Having an SCM certification will ensure that you have the required and desired skills and you stand out from the candidate pool in this competitive job market. You can get the best Six Sigma SCM Certification from SCM GURU KnoWerX who has the finest to offer to you. It will help you get a successful career in supply chain management at a better position in the industry. The certification is specially developed to cater to the needs of the supply chain management industry.

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START A BUSINESS WITH A SUPPLY CHAIN MANAGEMENT SYSTEM

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A supply chain management system, attributed nonprofessional synonym for logistics, is a critical part of a business no matter what the nature of goods and services is. Whether it is handling, mobility, procurement and more, the supply chain exists everywhere. It can be attributed as a multifaceted approach that involves several fields such as engineering, commerce, management, IT, marketing and sales among others making it a competitive field.

Individuals with a Certificate in Supply Chain Management and Logistics can gain the in-depth knowledge and skills required to make a successful career out of it. Alongside, having a certification Certified in Production and Inventory Management also helps the individuals gain a better understanding of the industry.

Here are a few tips that will help you planning a venture in the supply chain industry with a logistics business. These are quintessential for understanding the prevailing scenario and the aspects of the undertaking to start a business:

  1. Know your fundamentals

You will have to perform analysis and do your homework. And for that, you need the best consultancy and case study of your competition. The research, analysis and homework include the following:

  1. Funding and investments
  2. Governance and regulatory documents required
  • How to formulate a business plan
  1. Skillset to recruit a capable individual

 

The list can include a lot of things and will continue to grow as your business sets up and expands. All this will help you in laying the foundation of your business with a supply chain management system.

 

  1. Decide the priorities

Your logistics business priorities should be properly thought about and established. Safe and fast services are required as priorities for an e-commerce business while procurement is a priority for a metal business. Therefore, put extensive consideration and thought for the same.

 

  1. Appeal to drivers

Not only the correct mode of transportation but also a fleet of good drivers. This will ensure that you reach greater efficiency and yield more benefits along with profit.

 

  1. Manage the lead time

Apart from delivery and arrivals, you will have to consider the lead-time that is different from the procurement time. It can include:

  1. Time in accepting orders and delivery
  2. Time in procuring and shipping from storage
  • Time required by the supplier to deliver the product

 

  1. Plan of action

You need a team to look after the supply chain management system of the company to ensure smooth operations. This is the primary result of intense planning in demand and production. Moreover, a smooth operation will require a well-designed course of action along with a capable and efficient workforce.

To get the finest knowledge and skills of supply chain management systems, you can get an APICS CPIM certificate. It will broaden your knowledge prospects and make it easier for you to venture into the industry. KnoWerX offers the finest APICS Certification with which you can become a successful professional in the industry.

 

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SCM Talk Show-Supply Chain Risk Management, Episode 3.

Watch our latest episode of SCM Talk Show on the KnoWerX YouTube channel & Subscribe for more updates.

SCM Talk Show, Episode-8

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regular updates in the field of Supply Chain Management.

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E-COMMERCE BUSINESSES AND SUPPLY CHAINS

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Critical to ensuring the success of e-commerce business, business efficiency is required at all levels of operation. Supply Chain Management and Logistics stand as the essential component of an eCommerce business. The supply chain aspect in e-commerce emphasizes procuring raw materials, manufacturing and distributing the products to the consumers. Along with this, it includes the function of managing demand and supply, warehousing, order entry, inventory tracking, order management, distribution and delivery to the consumers.

What is the process of supply chain and logistics in the e-commerce industry?

E-commerce is not just about setting up a website and selling products and services, it has a lot more attached to it. Right from product configuration, infrastructure, secured payment gateway to supply chain management and logistics, it demands a lot. Also, with an efficient supply chain and logistics process, a business can accelerate its processes and meet customer expectations.

Individuals with a Certificate in Supply Chain Management and Logistics have better knowledge of the aspects of the same. E-commerce involves buying and selling goods over the internet and moving them between two places or parties. The primary requirement of an efficient supply chain stands as dispatching the right quantity of products at the right time and to the right person. Having an uninterrupted, quick and secure supply chain and logistics process serves as a critical aspect for any e-commerce organization.

The key benefits of supply chains in E-commerce

Supply chain management and logistics for E-commerce brings along plenty of benefits with it. Let’s get along and explore the benefits which are as follows:

  • Reduces the Costs

SCM in E-commerce eliminates the several stages involving distribution, retailers, and outlets. The elimination of these stages decreases the overall cost of the products. The reduced costs provide the customers with a direct advantage when compared to the cost of products in physical stores.

  • Trade Globally

With SCM, E-commerce businesses gain the power of global trading. With an efficient SCM process, e-commerce organizations can import raw materials and export their finished goods anywhere across the globe.

  • Enhanced Customer Satisfaction

Crucial to the success of an e-commerce business, customer satisfaction can be achieved with efficient supply chain management. E-commerce businesses can easily track the demand, the time required by suppliers to fulfill orders and order sources from suppliers to keep the inventories stocked.

With an efficient supply chain and logistics process, e-businesses can reduce their production cost along with the demand response time. Individuals can take the finest Supply Chain Management courses, by KnoWerX, to learn and understand the various aspects of the industry.KnoWerX, based in Mumbai, provides the required skills and knowledge you will need to excel in the field. It is now your chance to pick the best course and make a successful career in the supply chain as it has multiple career opportunities to offer to you. Get the best supply chain course/certification for you.

 

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SCM Talk Show-Supply Chain Risk Management, Episode 3.

Watch our latest episode of SCM Talk Show on the KnoWerX YouTube channel & Subscribe for more updates.

SCM Talk Show, Episode-8

Download KnoWerX App and follow KnoWerX Education on LinkedIn, Facebook, Twitter and Instagram for

regular updates in the field of Supply Chain Management.

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WHAT CAN YOU DO WITH A SUPPLY CHAIN MANAGEMENT DEGREE?

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With the immense growth in the significance and importance of supply chain management and logistics, it has opened plenty of career prospects for individuals. Moreover, individuals with an APICS Certification develop better chances of career advancement and success.

Are you still unsure of what you can do with a supply chain management degree?

Let us have a look at the career options for SCM Professionals.

Before we get on to the career, let us understand why a SCM degree is very much in demand today.

Why should you have an SCM degree?

Individuals equipped with an integrated and comprehensive knowledge of supply chain and logistics stand as potentially strong candidates in the job market. For every retail organization, a supply chain exists which makes it a potential area with multiple employment opportunities.

For a job in supply chain and logistics, you need to be a graduate. But employees prefer candidates with a supply chain management degree over those who have only done graduation. Having a SCM degree will make you stand out of the crowd, as you will have the relevant qualification.

What are the career prospects?

Now, when you have developed an understanding of the subject and industry, let’s start with the career options available for you to pursue after getting an SCM degree.

Operations Manager

You will be responsible for the operations of the organization while directing and coordinating the activities concerned with the production, pricing, sales and distribution of goods. Also, you will have to review the performance data to check the productivity levels.

Logistics Analyst

Responsible for analysing the supply chain processes, a logistics analyst identifies the areas for optimization and improvements. You will maintain the databases, compile and organize all relevant information. Alongside, you will have to provide analysis and feedback in certain areas related to logistics.

Supply Chain Manager

As a supply chain manager, you will coordinate and direct the supply chain processes to enhance customer service, safety and accuracy. You will be monitoring the forecasts and quotas to determine the changes and their effect on the supply chain and logistic activities.

Purchasing Manager

A purchasing manager has to plan and direct the activities of the purchasing officers, buyers and other personnel involved in the purchasing of material, services and products. You will represent the organization in policy formulation and contract negotiation with the suppliers.

Storage and Distribution Manager

You will have the responsibility of overseeing the facility of storage and distribution operations. The managers are also responsible for conducting interviews, selecting and training employees apart from supervising the warehouse personnel. You will also have to develop and implement warehouse safety and security activities.

Logistics Manager

A logistics manager coordinates the purchasing, warehousing, forecasting, distribution, customer service and planning of the organization. The individual has to manage the systems and personnel related to the daily logistics operations. Also, you’ll have to collaborate with departments to streamline the processes.

So, you see, Now, you do not have just one, but multiple choices to choose a career path. You can pick the one that best aligns with your skills and interests. Moreover, no matter what you choose, you can be assured of having a potentially successful career with the right blend of knowledge and skills.

An elite partner of APICS and affiliate of Demand Driven Institute, KnoWerX offers the best certification in Supply Chain Management. Along with these, it offers other training programs and courses.

The certifications and courses offered are in the area of supply chain management, operations, management, production management, material management, demand planning, distribution management, logistics management, theory of constraints and transportation management.

The certifications and endorsements you can get from KnoWerX includes Certified in Planning and Inventory Management (APICS CPIM), Certified Supply Chain Professional (CSCP), Certified in Logistics, Transportation and Distribution (CLTD) and Supply Chain Operations Reference Professional (SCOR-P).

Individuals can get plenty of benefits from supply chain management courses such as higher recognition, personal development, accelerated career growth, higher success rate, better salary and many more from the courses.

# WatchonYoutube

SCM Talk Show-Supply Chain Risk Management, Episode 3.

Watch our latest episode of SCM Talk Show on the KnoWerX YouTube channel & Subscribe for more updates.

SCM Talk Show, Episode-8

Download KnoWerX App and follow KnoWerX Education on LinkedIn, Facebook, Twitter and Instagram for

regular updates in the field of Supply Chain Management.

PROCUREMENT MANAGEMENT

WHAT IS PROCUREMENT MANAGEMENT?

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What do you understand by the term procurement management?

Is it related to Supply Chain Management and Logistics?

Confused? Let’s understand what procurement management is. 

To ensure efficient operations, procurement practices are an essential element to execute, regardless of the company or industry. Putting it in simple words, procurement involves processes concerning the acquisition of goods and services from other parties. Procurement can be goods such as furniture, raw materials and office supplies or services such as training and consulting.

Different organizations follow different techniques to execute their business operations. Procurement management helps in ensuring that they are done as planned. Also, time and again, it has proven its caliber to be a deserving and vital business function to follow.

How important is procurement management?

In simple terms: To ensure the success of business operations and enabling you to meet your specific business goals.

Let’s make it simpler. 

It helps in maintaining better relationships with the vendors or suppliers. Also, it allows you to stay organized at every step of the procurement process. With the procurement process, organizations are able to avoid costly downtime. This helps them in boosting the bottom line of their business.

Moreover, with the continuous advancement in technology, procurement techniques are becoming very popular. It helps in cutting down costs, delays and promotes efficient performance. Also, managing procurement processes is a crucial business aspect that cannot be eliminated.

What are the steps involved in procurement management?

Let’s Take A Look.

  • Planning – Organizations put together a comprehensive plan for the procurement process while specifying the goods and services that will be required, internally or externally
  • Finance – Further, a budget is made. Moreover, with the plan, it helps in staying organized throughout
  • Supplier Identification- Supplier research and identification help in determining whether they will meet all the requirements or not
  • Proposals – Upon supplier identification, the company makes requesting proposals along with negotiating whenever required. This requires effective communication of the requirements.
  • Contract – The contract is made and signed with the supplier, now the organization’s purchasing department controls the delivery and payments of the goods and services
  • Analysis – The organization analyses the entire procurement process with the key performance indicators. This helps in finding areas for improvement and making the process better for further procurement plans.

How does it benefit the organizations?

Now that we have an overview of procurement management, let’s see the benefits it brings along.

  • Saves valuable time for the organization as the goods or services are readily available
  • Enables the organization in running the procurement process smoothly and quickly
  • Helps in large scale savings for the business through strategic sourcing of the products/ services
  • Quality assurance is made for the purchases made during the procurement process
  • Improves business relations with the vendors or suppliers and improves transparency

Procurement management proves to be a crucial step in ensuring smooth business operations. With plenty of supply chain management courses available, you should choose the best having all the concerned aspects including procurement. It ensures that you learn the steps with ease. Having a certificate in Supply Chain Management (CSCP) and Logistics (CLTD) would ensure that you attain the finest knowledge of the same. KnoWerX enables you in getting Supply Chain Management Certification (CSCP) and establish a successful career in the field with the required skills. 

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SCM Talk Show-Trends in Procurement, Episode 4.

Watch our latest episode of SCM Talk Show on the KnoWerX Youtube channel & Subscribe for more updates.

SCM Talk Show, Episode-7

Download KnoWerX App and follow KnoWerX Education on LinkedIn, Facebook, Twitter and Instagram for regular updates in the field of Supply Chain Management.

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