Supply Chain Dynamics from edX

Supply Chains are complex systems involving multiple firms and organizations with different goals and objectives. Additionally, there are external forces and trends that can impact (positively or negatively) a supply chain’s efficiency and effectiveness. Understanding the dynamics and risks within supply chains, both large and small, is key to being a successful supply chain professional.

This course builds on the fundamental models introduced in SC1x and the design trade-offs covered in SC2x. It is essentially a capstone in understanding how to successfully model, design, and manage a supply chain in any industry. We will divide the course into three sections.

First, we will introduce the field of System Dynamics. Developed at MIT, system dynamics is an approach that examines and models complex systems that feature interacting, non-linear, and dynamic elements. The objective is to better understand the underlying features of a complex system and to recommend policies and other actions to improve overall performance.

Second, we will explore the concepts of supply chain risk. Supply chains are subject to a wide number of potential disruptions – from both within and outside of the supply chain. Students will understand how supply chains can be better designed and managed to not only mitigate the downside of supply chain disruption but also to leverage and capture any upside.

Finally, the students will engage in a series of more extended case studies and simulations that demonstrate these complex relationships. Actual case studies and examples from companies will be used to help students better prepare for actual situations.

This course is part of a MicroMasters program.

What's inside

Learning objectives

Supply chain risk management
Supply chain dynamics

End to end supply chain management

Supply chain risk management
Supply chain dynamics
End to end supply chain management

Good to know

Know what's good

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Excellent course for those in Supply Chain Management or seeking to learn about it

Taught by four instructors who are well-known for their work in Supply Chain Management

Covers various dimensions of Supply Chain Management like risk management, dynamics, and end-to-end management

Leverages System Dynamics and uses case studies to illustrate concepts

May require prerequisite knowledge in Supply Chain Management

Reviews summary

Generally positive supply chain course

Learners say that they are grateful for the content of Supply Chain Dynamics. While there is only a single review, it is very positive.

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Supply Chain Dynamics with these activities:

Review Probability Theory

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Build up your foundational understanding of Probability Theory to ensure success in this course.

Browse courses on Probability

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Revisit basic probability concepts, such as sample spaces, events, and probability distributions.
Practice solving probability problems involving conditional probability, Bayes' theorem, and random variables.
Utilize online resources, textbooks, or videos to reinforce your understanding.

Read 'Supply Chain Management: Strategy, Planning, and Operation'

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Expand your knowledge of end-to-end supply chain management by reading this comprehensive textbook.

View Supply Chain Management: Strategy, Planning,... on Amazon

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Read through the chapters, focusing on key concepts and frameworks.
Highlight and make notes to reinforce your understanding.
Summarize the main takeaways and discuss them with classmates or online forums.

Explore System Dynamics

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Gain a deeper understanding of system dynamics and its application in supply chain management.

Browse courses on System Dynamics

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Find online tutorials or courses on system dynamics fundamentals.
Follow along with the tutorials, practicing the concepts and techniques.
Apply system dynamics principles to analyze and improve supply chain processes.

Two other activities

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Design a Simulation Model

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Enhance your understanding of supply chain dynamics by creating a simulation model of a real-world supply chain.

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Identify a specific supply chain to model, considering its complexity and availability of data.
Collect and analyze data on supply chain processes, lead times, and costs.
Develop a simulation model using appropriate software or tools, representing the key elements of the supply chain.
Run simulations and analyze the results to identify inefficiencies and improvement opportunities.

Implement a Supply Chain Improvement Plan

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Apply your knowledge and skills to develop and implement a supply chain improvement plan for a real-world organization.

Browse courses on Supply Chain Optimization

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Identify an organization or industry facing supply chain challenges.
Conduct a thorough analysis of the existing supply chain, including data collection and stakeholder interviews.
Develop a comprehensive improvement plan outlining specific initiatives, metrics, and timelines.
Implement the plan, collaborating with key stakeholders and monitoring progress.
Evaluate the outcomes and make necessary adjustments to the plan.

Career center

Learners who complete Supply Chain Dynamics will develop knowledge and skills that may be useful to these careers:

Logistician

As a Logistician, you will be responsible for planning and managing the movement of goods and materials. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to ensure that goods are delivered to the right place, at the right time, and at the right cost.

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Supply Chain Analyst

As a Supply Chain Analyst, you will be responsible for analyzing and evaluating supply chain data. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to identify and solve problems in your supply chain, and make recommendations for improvement.

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Supply Chain Manager

As a Supply Chain Manager, you will be responsible for the planning, implementation, and control of supply chain activities. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to make informed decisions about how to improve the efficiency and effectiveness of your supply chain.

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Procurement Manager

As a Procurement Manager, you will be responsible for managing the procurement of goods and services. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to negotiate favorable contracts with suppliers and ensure that your company gets the best possible value for its money.

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Inventory Manager

As an Inventory Manager, you will be responsible for managing the inventory of a company. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to ensure that your company has the right amount of inventory on hand to meet customer demand.

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Operations Manager

As an Operations Manager, you will be responsible for managing the day-to-day operations of a business. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to make informed decisions about how to improve the efficiency and effectiveness of your operations.

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Transportation Manager

As a Transportation Manager, you will be responsible for managing the transportation of goods and materials. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to ensure that goods are transported safely and efficiently.

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Warehouse Manager

As a Warehouse Manager, you will be responsible for managing the day-to-day operations of a warehouse. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to ensure that goods are stored safely and efficiently.

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Business Analyst

As a Business Analyst, you will be responsible for analyzing and evaluating business processes. This course will help you develop the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you will be able to identify and solve problems in business processes, and make recommendations for improvement.

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Editor

As an Editor, you will be responsible for editing a variety of content, including articles, blog posts, and books. This course may be helpful in developing the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you may be able to better edit content about supply chains.

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Teacher

As a Teacher, you will be responsible for teaching students about a variety of subjects. This course may be helpful in developing the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you may be able to better teach students about supply chains.

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Consultant

As a Consultant, you will be responsible for providing advice and guidance to clients on a variety of business issues. This course may be helpful in developing the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you may be able to provide more informed advice to clients on supply chain-related issues.

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Writer

As a Writer, you will be responsible for writing a variety of content, including articles, blog posts, and books. This course may be helpful in developing the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you may be able to write more informed content about supply chains.

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Project Manager

As a Project Manager, you will be responsible for planning, executing, and closing projects. This course may be helpful in developing the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you may be able to better manage projects that involve supply chains.

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Researcher

As a Researcher, you will be responsible for conducting research on a variety of topics. This course may be helpful in developing the skills you need to succeed in this role, including an understanding of supply chain risk management, supply chain dynamics, and end-to-end supply chain management. With this knowledge, you may be able to conduct more informed research on supply chains.

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