SMT - Accounting and Finance

This seminar provides a comprehensive overview of how finance impacts supply management. Basic terminology used in finance and accounting are defined. Participants learn how to read financial statements and understand how decisions are taken. They will be introduced to using key ratios to interpret financial information. The principles of accounting and budgeting will be presented. Participants will gain an understanding of how supply management practitioners make a business case for an investment and evaluate investment opportunities.

Objectives

Upon completion of this seminar candidates should be able to:

  • Describe the content that is found in the major sections of each of the statements.
  • Assemble appropriate accounts to create a simple Income Statement and Balance Sheet for a business.
  • Use examples to illustrate the concept of liquidity and be able to describe the relationship of The Cash Flow Statement to the other three statements.
  • Relate financial, investing and operating decisions to financial statements.
  • Have a general understanding of the accounting process.
  • Use basic accounting terms correctly.
  • Trace the flow of accounting information from the Income Statement through the Statement of Retained Earnings and into the Balance Sheet.

SMT - Marketing

Participants will learn the role and purpose of marketing with a special emphasis on how marketing affects supply management. The differences between marketing and sales, marketing products and services, as well as B2B and B2C marketing will be addressed. Market research, understanding your competition, market segmentation and market selection are key topics covered. Among the other subjects discussed are the marketing mix: the “4 Ps” of product, pricing, place and promotion. Strategies for market leaders and market followers will also be outlined.

Objectives

Upon completion of this seminar candidates should be able to:

  • Understand the role and importance of marketing in a business organization.
  • Identify opportunities and challenges for an organization in the business environment.
  • Identify potential markets for a business’s offering.
  • Understand how the marketing mix is applied to target market segments.
  • Create and present an abbreviated marketing plan.

SMT - Business Planning

Every department has a critical role to play in delivering on an organization’s strategy. This seminar provides an overview of strategic planning in an organization and the basic elements of a strategic analysis (SWOT). The Porter 5-forces model for analyzing the competitive environment will be introduced. Topics covered include critical success factors, strategic maps and company positioning, and strategic models (low-cost, differentiation, niche). Participants will discuss how to develop a strategic plan in a supply management role and the linkages between the strategic plan and a budget.

Objectives

Upon completion of this seminar candidates should be able to:

  • Define strategy.
  • List and describe the role of strategy relative to the organizational hierarchy and alignment through the hierarchy.
  • Discuss two models used to describe business level strategy.
  • List and describe the steps within strategy formulation including situational analysis tools such as SWOT and Porter’s 5.
  • Identify the critical success factors of the implementation plan including financial budgeting.
  • Describe supply management’s role within the strategic process.