- 19 April 2015
- by Levi Haros
Supply Chain Management is all about logistics. Supply Chain Managers plan, organize, and control to purchase raw materials, manufacturing, and the transportation of materials across the country and the world. These materials can be anything from food products at your local grocery store to trial medication for cancer treatment. The goal of a supply chain manager is to be efficient, to have all items from Point A to Point B in a timely manner. There are three components to supply chain: source, make, and deliver. There are many things that go into the process: production, inventory, location, transportation, information.
With Intel, Arizona State University’s W.P. Carey School of Business, Michigan State University’s Broad College of Business, Levi Haros, helped teach a cell phone game incorporating Supply Chain Management. The point of the game was to fulfill the demand of the customer and to have the highest profit. The students were paired up in groups, and each given 5 cell phones. There were also different suppliers: Supplier A, B, and C, each having different prices,
capacities, and lead times. Each time was given a demand, then needed to buy or sell given each demand. It was their choice to choose which supplier, teaching them forecasting, sourcing, and risk. Students calculated their ending inventory, unmet demand, and the penalties associated with the two. At the end, the team with the highest profit, successfully succeeded in the Supply Chain world, and ultimately, won the game.
There are many surprising statistics regarding Science, Technology, Engineering, and Math (STEM) majors in the United States.
The National Math and Science Initiative & U.S. Department of Education reports:
• 38% of students who start with a STEM major do not graduate with one
• In recent years, men held a supermajority of the bachelor’s degrees in engineering
• While engineering has the highest median earnings, less than 20% of students choose to study it as a major
• Women make up 23% of all STEM jobs, but 48% of the workforce
• There has been an 11% decline (from 40% in 1981 to 29% in 2009) in science research, which restricts growth in the science field and a reduction in research
• STEM careers will increase by 14% from 2010 – 2020
• In the United States, only 16% of students interested in a STEM career are proficient in math