Markets have become competitive and price wars became quite common, companies are trying to provide customer high-quality product/services at affordable prices. Hence, to achieve profits in such scenarios, an efficient supply chain is a must. In order to facilitate a rewarding learning experience on this, ScOpe – the Supply Chain and Operations Club of the Vinod Gupta School of Management, IIT Kharagpur recently conducted ‘SC 2.0’, an event on Supply Chain, which gave students an immense opportunity to go in-depth of Supply Chain concepts.
Supply chains traditionally are linear in nature, but today due to globalisation, innovations in IT, manufacturing and delivery models have led to several transformations in the management of supply chain networks. Managing today’s supply chains all the links to creating and distributing goods is extraordinarily complex. Depending on the product, the supply chain can span over hundreds of stages, multiple geographical locations, several individuals and entities involved, and extend over months of time. Due to the complexity and lack of transparency of our current supply chains, there is interest in how blockchains might transform the supply chain and logistics industry.
SC 2.0, an offline quiz, was an extremely interesting event. It was indeed a rich platter of knowledge serving a wide variety of supply chain concepts ranging from Just-in-Time manufacturing, Lead time, Pareto charting, bullwhip effect, Cross docking, Agile Supply Chain and numericals involving concepts such as Economic Order Quantity to name a few of them. Students, despite being subjected to a barrage of submission deadlines and other academic rigours, attended the event in huge numbers. The engrossing event closed with prizes getting awarded to the winners. Indeed, such events give students a great opportunity to learn and analyse the relevant industry concepts which will help them accelerate in their career.