Many companies in the manufacturing sector are presented with supply chain challenges every day ranging from identification of new suppliers and materials through manufacturing transportation and distribution to customers. It is not uncommon for both complex, multi-national original equipment manufacturers (OEMs) and small or mid-sized manufacturers in the U.S. to be faced with challenges. From reducing risk and volatility to identifying and collaborating with suppliers through understanding the true cost of the supply chain, MEP's Supply Chain Optimization initiative provides an opportunity to assess and implement a strategic solution.
Supply Chain: Risk Management
Risk is an inherent component that must be accounted for within the volatile supply chain faced by manufacturers not only today but in the future as well.
In this session, participants will learn to identify activities and events that could adversely affect the company’s supply chain. They will analyze the benefits of implementing an effective overall risk mitigation strategy plan. A successful plan documents mitigation strategies, describes triggers of risk events, and establishes monitoring metrics and activities so you are prepared for the inevitable. Utilizing the Value at Risk (VaR) tool, participants will also learn how to calculate the financial impact of risk within their supply chain.
After successful completion of this course, participants may choose to complete the follow-up course entitled: Supply Chain Optimization. Implementation assistance can be included at an additional cost.
- Understand the impact of risk events for which no risk management strategy exists
- Recognize the necessity of a risk management strategy
- Learn how to estimate the financial impact of a potential risk event
- Incorporate financial considerations within the Total Cost of Ownership (TCO) model
- Cycle count program implementation with root cause analysis and corrective action: Objective is to improve inventory accuracy, reduce inventory, and lower cost.
- ABC inventory, supplier, and/or customer classification: Objective is to reduce cost and increase profitability and reduce inventory.
- Obsolete and slow-moving inventory (OSMI) identification and reduction planning: Objective is to eliminate or greatly reduce obsolete and slow-moving inventory to reduce inventory, free-up capital and lower carrying costs.
- Supplier negotiation training: Objective is to reduce piece part prices, packaging and freight costs while building mutually beneficial partnerships.
- Supplier development: Objective is to ensure suppliers are aligned with company goals, support open collaboration, improve on-time-delivery, and increase product quality.
- Forecasting: Objective is to increase organizational performance through more revenue, increased profits, and more satisfied customers.
- Safety stock: Objective is to reduce inventory and carrying costs and free-up capital.
- Sourcing strategies: Objective is to reduce cost and improve quality.
Risk Management: Evaluating, assessing, and prioritizing the probability of unexpected events are part of Risk Management, which is essential for an effective supply chain. This session helps participants create a risk impact analysis, including the financial implications of unexpected events.
Supplier Quality Management: Learn the benefits of having a formal system for selecting, developing, monitoring, and evaluating suppliers as well as the associated requirements from ISO 9001 and IATF 16949. Gain hands-on practice developing your supplier quality management plan.
Supplier Auditing: Learn technique and strategies for auditing suppliers to requirements. You will also develop a tool for auditing suppliers and develop a supplier scoring system.
Basic Contract Negotiations & Test: Learn techniques and tactics to become a more effective, successful, and collaborative negotiator.
Supply Chain Series
Four-Day Manufacturing Training Boot Camp for Supply Chain Professionals. Candidates will receive a Purdue University Certificate of Learning.
Day 1 - Risk Management: Learn about common risks facing manufacturers and methods and tools for mitigating and managing risks, including FMEA, SWOT, and root cause analysis.
Day 2 - Supplier Quality Management: Learn the benefits of having a formal system for selecting, developing, monitoring, and evaluating suppliers as well as the associated requirements from ISO 9001 and IATF 16949. Gain hands-on practice developing your supplier quality management plan.
Day 3 - Supplier Auditing: Learn techniques and strategies for auditing suppliers to requirements. You will also develop a tool for auditing suppliers and develop a supplier scoring system.
Day 4 - Basic Contract Negotiations & Test: Learn techniques and tactics to become a more effective, successful, and collaborative negotiator.
- Additive Manufacturing
- Collaborative Robotics Assistance
- Digital Manufacturing & Design Assessments
- Digital Manufacturing Technology Center (DMTC)
- Employee Attraction & Retention
- Faculty Projects
- Food and Beverage
- Indiana DIB Capability Accelerator Program (IDCAP)
- Innovation Assessment
- Leadership Development
- Lean Manufacturing
- Lean Office
- Six Sigma
- Supplier Scouting Network
- Supply Chain
- Training Within Industry
Director of Business Development