Supply Chain Design | MITx on edX | Course About Video

Supply chain management is the
backbone of the global economy. Regardless of your
role within a firm, you will interface
with the supply chain. Supply chains span time
zones, continents, cultures, and companies. Everything that
you touch and use came through some supply chain. The ability to manage these
far flung and complex networks is now seen as crucial to the
success or failure of a firm. Hi, my name is Chris
Caplice, and I’m the executive director of the
MIT Center for Transportation and Logistics. I’ll be your primary instructor
for all five of the forces that make up the MITx
Micromaster’s Credential in supply chain management. So what is logistics and
supply chain management? Well, basically it’s
the art and science of getting products from where
they were made to where you, the consumer, want them to be. Firms have become
more global in terms of where they source materials,
where they manufacture those products, and where they
sell their finished goods. And the need for professionals
who can design, manage, and operate these complex
global supply chains continues to grow both in
size and in importance. So what we learn if you take
CTL.SC2x Supply Chain Design. On completion of
the course, you’ll have a deep understanding
of an ability to design the three flows,
information, physical, and financial. To create a successful
supply chain. We’ll start the
course by introducing the design of the physical
flow of a supply chain. This is sometimes called the
network design, or facility location, or flow optimization. You’ll learn how to use
large scale optimization models to capture the trade-offs
between costs and level of service. The end result is a plan of how
raw materials, work in process, and final products move through
a company’s supply chain from supplier to customer. Following this, we’ll focus on
the financial flows of a supply chain. You’ll learn how improvements
in the supply chain operations can be translated into
financial terms and the language that C level executives
of a company understand. This is a very critical
skill that every supply chain professional needs to possess. Next, we’ll trace
how information flows through a supply chain. You’ll learn how a firm
interacts with the suppliers through sourcing
and procurement, how a firm coordinates with
its internal and external manufacturing operations
through production planning, and how a firm collaborates
with its customers, utilizing demand management in
sales and operations planning. I love teaching this course,
because it ties together all the fundamental
pieces from a C1x into a coherent and
eminently usable framework. This course combines
solid theory with very practical concepts
that can be applied immediately within any company. I hope that you will decide
to join us and take the course CTL.SC2 Supply Chain Design. [MUSIC PLAYING]

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