Supply Chain Cost Management
A successful supply chain strategy must be effective not just in its material flow within the six pillars and the information flow from its systems, but its financial flow as well. Companies and their corresponding supply chains can achieve improved cost management that leads to greater top line revenue growth through improvements in financial flows achieved waste reduction, inventory carrying cost, capital investment and management and terms with suppliers and customers, to name a few. How the financial flow of the company and its supply chain is dependent on the entity’s material and information flows, and vice versa. This course will provide an understanding of how these flows work in conjunction with one another, and how supply chain professionals must understand the role of financial management fundamentals in the process. Prerequisite: TRAN 4130.