Understanding the Financial Implications of Supply Chain Decisions /RNSBDC
Understanding the Financial Implications of Supply Chain Decisions
All organizations are a part of a supply chain. Whether an organization is manufacturing / producing a product or providing a service, it has a supply chain. Successful businesses have a comprehensive understanding of their supply chain. They know, build relationships and engage their supply chain partners so there is value added collaboration to gain efficiencies in order to manage an effective supply chain.
Business owners who do not develop a deep appreciation for understanding their respective supply chains, frequently make decisions without the consideration of its impact on the critical financial areas of the company. These decisions, in many cases create financial difficulties for the business owner and certainly affect the Income Statement, Balance Sheet, Statement of Cash Flows and other financial metrics.
This webinar will cover:
- What is a supply chain and how does it function end to end? Manufacturing and Service Industries
- The important role of Supply Chain Partners and Stakeholders: External and Internal
- Supply chain responsiveness and the trade-offs in terms of costs and customer service
- Basic accounting, financial management and finance terms and concepts which are key to managing a supply chain and understanding the dynamics of decisions on the financial statements.
- A case study to demonstrate supply chain improvement decisions and the financial implications.
Participants in this training will:
- Understand better the concept of supply chains and supply chain management.
- Have a better sense of the importance of stakeholder collaboration.
- Increase their appreciation for how desired improvements in their supply chain must be weighed against the impact on the financial statements.
Based on this knowledge it will be easier to:
- Guide business improvement change
- Have a broader perspective on the business dynamics of change.
- Understand the financial impact of change on the business and potentially other partners in the respective supply chain.