MicroMasters - About Video - 080916 - FINAL-HD 1080p 2-En

Supply chains are all around us.
Everything that we wear, that we eat,

that we touch, or use every day was part of some supply chain
to transform raw material from some other location
into a finished product that you're enjoying now.
Supply chains literally connect the world.
My name's Chris Caplice and I'm the executive director
for MIT Center for Transportation and Logistics.
I'd like to talk about why you might
be interested in completing the MITx Micromasters Credential
in Supply Chain Management.
So what is supply chain management?
Basically, it's the art and science
of getting products from where they're
made to where you the consumer want them to be.
It's how the pair of shoes you ordered online
are manufactured in Italy and sent to your front door
in Kuala Lumpur, Malaysia.
It's how the pears from Chile get your supermarket
in Winnipeg, Canada in the winter.
It's how your smartphone was assembled
with more than 100 parts from over a dozen
different countries.
It's not just about moving stuff around.
Service industries like restaurants, tourism,
and health care have some of the most sophisticated supply
chains.
You can think of supply chain management
as managing three flows.
The flow the physical product, the flow of information,
and the flow of money.
It also deals with a reverse flow of products
at the end of their life for recycling, re-manufacturing
or disposal.
While the term itself, supply chain management,

wasn't coined until the 1980s, the art and science
of logistics dates back to ancient Roman times.
It combines both theory and practice.
You need to master these theoretical concepts
but also be able to temper them with practical considerations.
So supply chain management is a hybrid area
that combines different disciplines, methods,
and ideas.
Supply chain management is the backbone of the global economy.
The need for professionals who can design, manage, and operate
these complex global supply chains, continues to grow.
This is why we created the online courses that
comprise the Micromasters Credentials in Supply Chain
Management.
Our main objectives are to provide access
to supply chain education for anyone, anywhere in the world,
for free and to offer an official credential
of achievement for a modest fee.
The Micromasters Credential can be used to advance your career,
as well as be a first step in earning master's degree
in supply chain management.
We've organized the courses by theme.
The Micromasters consists of five online courses,
followed by an intensive capstone final exam.
The first course SC0x, Supply Chain Analytics,
covers the basic mathematical techniques
that are used in supply chain management software systems.
The next course is SC1x, Supply Chain fundamentals.
We'll examine different forecasting techniques,
develop inventory replenishment policies,
and analyze transportation mode trade-offs.
SC2x, Supply Chain Design, builds directly off of SC1x
to illustrate how to design the three primary flows
within the supply chain, the physical, the financial,
and the information.
SC3x explores the softer side of supply chains
and introduces some of the complexities
inherent in real operations.
This class explores how different firms and supply
chains interact with each other.
Finally SC4x, Supply Chain Systems and Technology,
we show how all of these activities
are performed in practice.
We'll dive into big data management
since data is the lifeblood of any supply chain.
We'll also map out the different off the shelf
software tools and systems that most companies use
to manage their supply chains.
We'll finish up with a simulation that ties together
some complexities and challenges that you'll face in practice.
These SCx courses combine practical and theoretical
concepts and have the same breath, depth, and rigor
as a course I teach on campus here at MIT.
I love teaching these classes because the concepts
and techniques are universal.
The concepts you will learn are applicable to all supply chains
from Fortune 500 firms all the way to your own home.
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Supply chains are all around us.

Everything that we wear, that we eat,

While the term itself, supply chain management,

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