Institute of Supply and Materials Management maps future strategy

Workshop participants

Supply chain management has become one of the most powerful engines of business transformation globally. However, the concept of supply chain management is not very well understood locally. This is clearly evident in almost all local supply chains. 

Agriculture supply chains for instance are mostly impacted in Sri Lanka where postharvest losses account to almost 40% impacting food security. On the other hand, global supply chains are more risky than domestic supply chains due to numerous links interconnecting a wide network of firms. These links are prone to disruptions, bankruptcies, breakdowns, macroeconomic and political changes, and disasters leading to greater risks. 

Amidst this changing supply chain landscape locally and globally, Institute of Supply and Materials Management (ISMM) undertook to map its future direction in supply chain education in the country. The newly elected Council led by President Noel Wickremasinghe and subcommittee members met on 23 May at Renuka City Hotel to develop the five year strategic plan of the institute to cater to the changing dynamics in the supply chain environment. The workshop was conducted by the Strategic Planning, Finance and Market Development (SPF&MD) subcommittee headed by ISMM Vice President Gayani de Alwis.

The workshop was inaugurated by the ISMM President spelling out the objectives and the need to refocus and realign actions of each sub-committee to support the end objectives of the institute and thanked each member for their continued commitment and dedication to take the institute forward.

The participants critically studied the competitive landscape and the SWOT analysis. Each sub-committee developed their individual action plans and key performance indicators to align with the strategic plan. 

This was followed by a business risk assessment by SPF&MD Secretary Sajith Edirisooriya and mitigatory measures identified for each risk. Judging by the active participation and the outcome of the workshop, it was a huge success. SPF&MD committee will track progress on a quarterly basis to ensure flawless execution of plans. 

ISMM is the pioneer in purchasing and supply chain management education for more than three decades in the country and so far have trained over 13,000 supply chain professionals. Although supply chain management is an essential part in any manufacturing, service or in an event, the awareness of supply chain is still at a nascent stage in the country. 

The value addition that a supply chain professional can do to an organisation is immense. ISMM hope to create this awareness among corporates, government agencies as well as the wider society as a career choice to popularise the discipline among young school leavers, parents and industry professionals. 

The strategic planning workshop conducted by ISMM has identified the role in upgrading the knowledge and skills of today’s supply chain professional is a continuous process. The role of supply chain practitioner is evolving with integration through technology, functional expertise, and experience to identify problems with professional solutions. 

Today’s supply chain education curriculum of ISMM, from certificate, to management and graduate diploma level is opening new doors to job seekers and career prospects in employment.

ISMM has an eminent panel of resource personnel and hope to conduct many more value adding short courses, tailor made programs and provide consultancy services for public and private sector in the future.