Importance of Demand Forecasting

Importance of Demand Forecasting in Supply Chain- 9 Authentic Reasons

The importance of demand forecasting has been topic of discussion in economics and valuable books have been written on it over the years. However, within the supply chain context there are three types of forecasting, which are: Demand Forecasting: This is the investigation of the companies demand for an item or SKU, to include current and projected demand by industry and product end use. Supply Forecasting: Is a collection of data about the current producers and suppliers & technological and political trends that might affect supply. Price Forecast: This is based on information gathered and analyzed about demand and supply. […]

Logistics Competencies

6 Must Have Logistics Competencies for Supply Chain Professionals

Logistics activity is literally thousands of year’s old, dating back to the earliest form so organized trade. As an area of study however, it first began to gain attention in the year 1900s in the distribution farm products1.  Considering logistics is a broad, far-reaching function which has major impact on a society’s standard of living, logistics competencies are difficult to master. In the current day and age we just take it for granted that when we go to our favorite shopping center we will find our favorite food, clothes and other items conveniently. This won’t be possible without the logistical […]

Supply Chain Manager

8 Habits of a Highly Effective Supply Chain Manager

A good well-rounded Supply Chain Manager is always in high demand, but they are in scarce supply in my opinion! You just need to look around how many jobs are available with title of “Supply Chain Manager”. I have worked as a Supply Chain Manager for 5 years in two entirely different businesses and in the process I have seen and worked with lot of Supply Chain Managers either as colleagues or Suppliers or sometime as Customers. There are several habits that many successful Supply Chain Managers have in common. Sometimes these habits form naturally, but they are more often […]

Supply Chain Management Book

Which is The Best Supply Chain Management Book? Top 7 for Beginners

“Which is the best Supply Chain Management Book for beginners like me to learn operations and supply chain?” someone ask me on Quora. And I thought I could write a blog on this and can mention 7 of them, rather than 1!  Although Supply Chain Management can be encapsulated in a definition presented in my old blog here, however, these definitions explode into an immeasurably vast field not only for studying but also for working within. There are so many sub-fields and branches that it can be quite confusing to determine which area you wish to study or specialise in. […]

Masters in Supply Chain Management – Top 6 Universities in the U.K.

Masters in Supply Chain Management why do you need one? By definition, Supply Chain Management focuses on how to economically and efficiently manage the supply-chain systems in place for the smooth movement of the product or service from the supplier to their client thus increasing a business’ competitive advantage.   It sounds simple enough! However, in today’s international market, the client is continually sourcing their suppliers globally to ensure that their product or service meets their customer’s demands at the lowest cost yet highest profit margin so as to stay competitive and relevant in their field. This makes the modern […]

2700 Plus Supply Chain Management Terms & Glossary

Managers, academics, students, professionals and practitioners of Supply Chain Management require ready access to a definitive source of current terminology and practice. Over the years I have gathered the most up-to-date glossary of Supply Chain Management terms, concepts and definitions relevant to the subject, which I hope you will find it useful. Salient features of this document include: You can download here for $0.99, 2700 plus Supply Chain Management Terms, which if purchased in paperback format could cost between £21.54 to £55.58. [purchase_link id=”431″ style=”button” color=”orange” text=”BUY NOW”] Easy to use format. Current definitions, based on those given by leading authorities. Key […]