Trends to keep up with throughout your professional MBA
Figuring out how to produce and deliver goods more quickly is a concern of many businesses, and achieving greater efficiency in the supply chain is an important way to do so. It means refining every step of the manufacturing process, from acquisition of supply through to the distribution of the final product. This is a complex area, and one that can be addressed with many different approaches and technologies.
The world of supply chain management – and business more generally – is changing quickly, which means it's important to keep up with the latest trends in order to maintain an advantage in the marketplace. If you want to ensure you get optimal results with your business's supply chain, here are a couple of recent developments you need to know about.
Semi-autonomous and fully autonomous robots are nothing new in the world of supply chain management, but as the years pass and they get cheaper and easier to use, they're beginning to take off like never before.
Especially common in warehouses, one type of robot increasingly likely to be integrated into a company's supply chain is one that delivers shelves of goods to a human picker, who then retrieves a specific item and places it in a bin for transportation or shipment.
Newer, more exciting entrants to the market, however, are close to cracking the ultimate code for warehouse automation: robots that can pick goods as quickly as humans do (or quicker), and just as accurately. Before long, these types of machines may present an opportunity to cut costs or improve efficiency in a dramatic way.
Understanding how best to integrate new technologies into an existing supply chain is a rare talent, though one that can be developed effectively through a professional MBA program. At a reputable school like WU Executive Academy, enrolling in this type of program can allow you to learn from academic and industry experts about how to evaluate and invest in new technologies.
This is essential for those professionals who understand the need to find technological supply chain solutions that will provide maximum value over the long term. As automation becomes more common, this is a skill that will be ever more necessary.
Although coordination with suppliers and customers has always been an important part of achieving efficiency in the supply chain, it is increasingly understood that this element of the process holds a great deal of potential untapped value. Correspondingly, more businesses are making a greater effort to establish friendly relationships with the other firms involved in their supply chains.
There are a number of benefits that can arise from making this type of effort. For example, a business that has a great working relationship with a supplier might be better able to secure its cooperation in making alterations to its production standards or delivery times. This kind of relationship might also lend itself to sharing quantitative data relating to production and delivery, which can help a business gain a greater objective understanding of its supply chain.
Fortunately, this is a trend that has a relatively low barrier to entry, so there's no reason not to hop on board and start building a deeper relationship with collaborating firms. The advanced training you receive through a part time MBA program can help ensure you and your organization approach this task with the professionalism necessary to get great results. Before long, it's likely you will achieve a level of friendly cooperation that can make a real difference in improving your supply chain.
Do you want to learn how to keep up with the fast pace of the business world?
Contact WU Executive Academy to enroll in a Master's in Business Administration program!