The global pandemic COVID-19 is a huge wake up call for all businesses and managers and it has shown with complete ruthlessness that it is time for us to develop the resilience for any future shocks that might come our way.
Because of the fact that the pandemic broke out in China and has had a major impact on Chinese manufacturers the impact of this being felt all around the world because of the major role that China has been playing in the global supply chain. When it comes to electronics and the automotive industries this can be felt rather harshly while other sectors like pharmaceuticals, metals, surgical gowns and masks, consumer and industrial products are also affected nonetheless.
The main reason for this break down now is the fact that we have become so dependent on the supply chains. So how can we get through this?
Regionalisation can be considered
This is one measure that can be taken. It is important that we try and localise the supplier base as much as possible. It is no longer a wise move to rely on one international supplier for all that is needed. Rather, if the possibility is available, it would be smart to try and get a local supplier for the supplying purposes.
Developing additional safety stocks and secondary sources
If you want a greater amount of supply chain resilience, there may be an additional cost to bear but you can certainly make that timely investment in additional safety stocks and secondary supply sources. There are challenges here though such as the fact that the supply concentration will be mostly driven by the scale of economies involved in the manufacturing process, the capabilities of your chosen supplier and the location of the available resources. If you can evaluate how much safety stock is needed and whether you can economically source it, this is something worth looking at.
As we are looking at major changes in the global supply chains, having the right educational and professional qualifications can certainly help you get there. At 1Training we offer you a host of programmes that are accredited by CPD in order to accomplish this.
Diploma in Business and Business Planning – Level 3
The Diploma in Business and Business Planning Level 3 is a practical and extensive course that will teach you to identify effective business strategies that can yield fruitful results. The course touches on the value of business planning, creating business strategies and setting up your own business. This course will help you to be innovative with your business plan, make fewer mistakes and create a stronger and more feasible strategy. There are a number of key topics discussed in this course such as an introduction to business planning, the concept of business planning, marketing and budgeting and break-even analysis. Each module is discussed in-depth ensuring learners gain a firm understanding of the subject matter.
Foundation Certificate in Business Analysis
The Foundation Certificate in Business Analysis (BCS) is an introductory course for aspiring and existing Business Analysts. While, no previous experience is required to study this course, if you are working in a similar capacity or in a change environment, you will find this certificate a good fit for your career. The course provides an extensive coverage of all aspects of business analysis to gain a higher understanding of the role of a Business Analyst.
The course will cover a wide range of fundamentals required to perform as a Business Analyst. Learn key topics such as roles and competencies, strategic analysis, investigation techniques and delivering the business solution. If you want to enjoy strong job prospects and high earning potential, this course is a stepping stone to progressing to the next level.
The Foundation Certificate in Business Analysis will boost your CV and enhance your value in a project team. It is a practical course that provides the opportunity to develop your skills and knowledge in the field and demonstrate your understanding in business systems.
Why not invest this time in learning more to grow? Contact us on [email protected] for more information.