Though most Mondays don’t leave much to be happy about, SCMEP is starting off the week with excitement and smiles! Why?
Because we are thrilled to reflect on the great success of last week’s Supply Chain workshop series. Companies from all over the state–and country–flocked to Greenville and Charleston to attend these highly anticipated and absolutely FREE courses. Attendants enjoyed engaging instruction from proven experts and left with knowledge and tools that they could apply immediately within their respective organizations.
These unique courses, which included Risk Management and Total Cost of Ownership, were hosted in partnership with Tony Cerilli of the GENEDGE Alliance in Virginia. Read below for more information about these invaluable courses!
Risk Management – There was standing room only during this workshop on Oct 14th in Greenville & Oct 16th in Charleston!
Risk is everywhere and it impacts companies large and small. It doesn’t sleep and it often shows up uninvited. This session helps you to identify the triggers of risk events, the importance of developing a plan to mitigate them when they do occur, and how to establish monitoring metrics and activities so you may be prepared for the inevitable. Participants will also learn how the financial impact of risk is determined and why a Risk Management Plan is an essential element to operational efficiency.
Total Cost of Ownership – Each student received their very own TCO calculator during this course on October 15th in Greenville & October 17th in Charleston!
The Total Cost of Ownership (TCO) method is a set of related concepts that allow for the quantification of costs for every activity along the supply stream. TCO takes into consideration all costs related to the acquisition, transportation, storage, and selling of purchased goods or services, so that sourcing decisions may be made strategically. Use of the traditional Piece-Part Variance method of costing has been shown to underestimate these visible and hidden costs by more than 15%.
The TCO calculator introduced in the session facilitates the side-by-side comparison of up to four suppliers. It also permits the analysis of multiple sourcing scenarios. TCO focuses on minimizing the total costs while maximizing value to the customer. It encourages a sharper focus on the big-picture concept of complete supply chain optimization.
Be sure to join us next year for another round of this enriching series!