Module

Element

Learning Outcome

Assessment Criteria

Indicative Topics

2.1

Interactions of Supply Chain Elements

2.1 .1 Impacts of Inventory Decision Making

2.1 .1 .1 Analyse the impact of mechanisms used to manage inventory along the supply chain

2.1 .1 .1 .1 Explain the benefits of effective inventory management practices

Purpose and considerations: Demand; Stockholding; Assets | Inventory Management: Stock levels; Supply; Safety stock calculations |

Inventory Policies | Reverse Logistics: Recovery; Remanufacture; Disposal | Customer expectations: Delivery promising, Order Servicing | Trade-offs | Order fulfilment | Inventory management

strategies: Vendor managed inventory (VMI);

Effective Consumer Response | Categorising

Inventory: Inventory Stratification; Stock Keeping

Units (SKUs); Accuracy | Types of stock: Raw materials; Work-in-progress; Finished Goods

2.1 .1 .1 .2 Calculate when to order inventory using appropriate models

Inventory levels | Order quantity models: Economic Order Quantity (EOQ) | Models: Reorder point;

Periodic Review; Rolling Schedule| Bullwhip effect (Forrester effect) | Types of inventory costs: Unit price to acquire; Transportation; Insurance; Tax | Capital costs | Ordering costs | Product holding

2.1 .1 .1 .3 Describe inventory

classification methodology which supports appropriate handling and storage

Inventory Characteristics | Valuation methods: First in First Out (FIFO); Last in first Out (LIFO);

Weighted Average Cost (WAC); Specific identification

2.1 .1 .1 .4 Analyse inventory controls to ensure visibility, accuracy and viability along the supply chain

Stock Control | Stock Checking: Count;

Reconciliation; Shelf life; Obsolescence; Surplus;

Quality | Inventory Tracking

2.1 .2 Data and Information Management

2.1 .2.1 Explain appropriate data to inform supply chain decisions

2.1 .2.1 .1 Outline data gathering and management techniques

Data gathering techniques: Document review;

Interview; Survey; Observation/testing |

Data Management Practices: Data consolidation; Governance – Naming conventions; Metadata/datasets; Data storage options; Data

quality; Data security; Supporting software

2.1 .2.1 .2 Describe how relevant data informs supply chain solutions and decisions

Management Information | Data purpose: Intelligence; Data Protection legislation | Data controls: Validation; Consistency | Data analysis: Big data; Market analytics; Structured data analytics; Data visualisation | Informed decision

making: Considerations; Volatility, Uncertainty, Complexity, and Ambiguity (VUCA)

2.1 .2.1 .3 Explain how you would communicate relevant data to appropriate stakeholders

Information versus data | Communicating information: Presentation; Reports; Business case

| Supply chain structures: upstream/downstream;

communication; finance | Supply Chain Visibility

2.2 Value and Resilience

2.2.1 Value

2.2.1 .1 Outline how value is considered along the supply chain

2.2.1 .1 .1 Outline what is meant by the term value chain

Value chain: components and support activities | Competitive Advantage | Customer-centric operations | Value chain analysis | Advantages

and disadvantages of value chain analysis

2.2.2 Resilience

2.2.2.1 Explain actions taken to achieve operational and organisational objectives

2.2.2.1 .1 Outline what is meant by supply chain resilience

Supply chain resilience | Factors affecting supply chain resilience

2.2.1 .1 .2 Explain how ethical influencing techniques can be used along supply chain operations to achieve objectives

Conflict Management | Internal Service Level Agreements (SLAs) | Cultural Norms | Influencing skills: Assertiveness; Active listening; Observation;

Self-confidence; Problem solving | Thomas Kilmann | Trade-offs

2.2.1 .1 .3 Outline risk management and control processes

Risk identification | Risk assessment processes: Consequence and Likelihood matrix | Risk mitigation: Acceptance; Avoidance; Reduction; Transference

2.2.3 Digital and Technological

Transformation

2.2.3.1 Describe the trends in technologies affecting

supply chain operations

2.2.3.1 .1 Describe what is meant by digital transformation

Digital Transformation: Connections – Digital, Physical, biological spheres | Internet of Things

(IoT) | Industry 4.0

2.2.3.1 .2 Describe how available digital and physical technology can support supply chain and operational activity

Digital and physical technology: Robotics; Cobotics; Automation; Artificial Intelligence (AI); Virtual Reality (VR); Augmented Reality (AR) M Integrated communication channels: Social media;