Cultivating supply chain experts
When a supply chain is firing on all cylinders — moving products, information and money on schedule — it goes largely unnoticed, at least to the average consumer. You expect to find the supplies you need at the grocery store, and to receive your latest Amazon order within five business days. But getting a product from the manufacturer to your doorstep involves a complex chain of contracts, transportation, customs, inventory control, planning and demand forecasting, among other steps. When parts and demand for a product come from around the world, the supply chain becomes an intricate network. “A supply chain that can deliver around the globe on time at low cost takes years to build,” says Yossi Sheffi, director of MIT’s Center for Transportation and Logistics (CTL). “It brings real competitive advantage [to a company], and that’s why supply chains are important and becoming more so.”In 2008, in response to...