Specialization at UG Level
Following are the areas of specialisation offered under supply chain management courses:
· Purchase/Sourcing: It offers complete know-how of the process of goods and services ordered, which involves sourcing activities, negotiation and strategic selection of goods and services that are usually of importance to an organisation.
· Inventory Control: This area of specialisation under supply chain management courses prepares students to keep a track of inventory with the help of automated systems and programmed software.
· Warehousing and Distribution: Students learn how to deal with the movement and storage of raw materials and finished goods, together with distribution.
· Freight and Transportation: This area of specialisation under supply chain management courses prepares students for trucking companies, which are required to be accurate in terms of processing and transportation of packages. Such companies are dependent on the supply chain management professionals which guide them on their daily operations.
· Process Management: Students learn about systematic approaches in order to make an organisation’s workflow more effective, efficient and capable of adapting to an ever-changing environment. Supply chain management is a necessary element in process management units.
· Vendor Development: It involves popular techniques of strategic sourcing, which improves the value consumers receive from suppliers. This activity is performed when a buying firm undertakes to improve a supplier's performance and capabilities to meet the buying firms' supply needs.
· Solution Designing: Students learn to define and describe the design of a system delivered in context of a specific solution, and as such, it may encompass description of an entire system or only its specific parts.
· Network Planning: This area of specialisation under supply chain management courses prepares students for an iterative process, encompassing topological design, network-synthesis, and network-realization. Network planning professionals need to ensure that a new telecommunications network or service meets the needs of the subscriber and operator.
· Project Planning and Implementation: It teaches how to convert visions and plans into reality. It involves coming to the logical conclusion, after evaluating, deciding, visioning, planning, applying for funds and finding the financial resources for a project.
· System and Technology Implementation: This area of specialisation under supply chain management courses involves the realisation of technical specification or algorithm as a program, software component, or other computer system through computer programming and deployment.
Specialization at PG Level
Most of the colleges offering supply chain management courses allow their students to gain specialisation in the areas, including:
· Management Theory: This area of supply chain management course focuses upon the development of ideas and its implementation to improve productivity and management in an organisation. It is focussed upon managers and supervisors who motivate their employees to adopt practices which do away with avoidable and time-consuming efforts in their daily work to increase efficiency and productivity.
· Organizational Behaviour: It is the study of the way people interact within groups or function as individuals in a working environment. Studying this supply chain management course enables an organization to create a more efficient working environment. Further, the core idea of studying organizational behaviour is to apply a more scientific and effective approach to the management of the workforce.
· Information Systems for Managers: This field of supply chain management course includes the collection, organisation, storage and communication of information. Also, it involves the study of process of complementary networks that people and organisations use to collect, process and distribute data. Further, it involves a group of components that interact to produce information. Information systems have a definitive boundary, users, processors, storage, inputs, outputs and communication networks.
· Business Economics: It is a field in applied economics, which uses economic theory and quantitative methods to analyse business enterprises and the factors contributing to the diversity of organisational structures and the relationships of firms with labour and capital. It helps a business achieve the best possible result with the proper use of people and resources in relation with finances.
· Business communication: This area of supply chain management course is the practice of exchanging ideas and information within an organisation or between two businesses to enhance their working style to ensure better and informed results. It plays a key role in any organisation to ensure employee learning and satisfaction and adoption of better styles of working, based on other related businesses. It increases awareness and ensures informed decisions being made.
· Marketing Management: This process involves the application, tracking and review of a company’s marketing resources and activities. Marketing management depends on the size of the business and the industry in which they operate. An effective marketing management will use a company's resources to increase its customer base, improve customer views of the company's products and services to increase the company's perceived value. Marketing management professionals ensure that products are marketed the right way.
· Strategic Management: Strategic management students study the formulation and implementation of the major goals and initiatives taken by a company’s top management. It deals with the optimum use of resources and an assessment of the internal and external environments in which the organisation competes. Strategic management provides overall direction to the enterprise and involves specifying the organisation's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Strategic management is not static in nature; the models often include a feedback function that monitors execution and detailing the next round of planning.
· Business Statistics: Business statistics teaches the scientific approach to applied statistics of good decision-making in the face of uncertainty. This is used in many areas such as financial analysis, econometrics, auditing, production and operations including services improvement, and marketing research. It is a branch of applied statistics working mostly on data collected as a by-product of doing business or by government agencies. This supply chain management course provides knowledge and skills to interpret and use statistical techniques in a variety of business applications.
· Business Law: It refers to conducting any kind of business according to and within the laws of the land. This area of supply chain management course focuses upon best practices, labour welfare, business policies environmental safety and other aspects of the day-to-day functioning of a business. Entrepreneurs or business heads are supposed to function in an ethical manner mandated by the laws.