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Assignment Task 1: Strategic Supply Chain
Management and Logistics

LO1. Understand the relationship between supply chain management (SCM) and
organizational business objectives
1.1 What are the organizational objectives of Meditech Surgicals? Explain the
importance of an effective supply chain management in achieving the organizational
objectives at Meditech Surgicals. (Assessment Criteria 1.1: Explain the importance
of effective supply chain management in achieving organizational objectives)
The organizational objectives of Meditech Surgicals are:

  • To be a leader in the endoscopic surgical instrument market.
  • To deliver cost effective and innovative endoscopy surgical instruments to
    hospitals on time
  • To provide the best customer service to domestic and international customers
    Supply chain management plays an important role in achieving the organizational
    objectives. It aims to link all the supply chain agents to jointly cooperate within the firm
    as a way to maximize productivity in the supply chain and deliver the most benefits to all
    related parties (Finch 2006). It helps organization to stay competitive in the market by
    outsourcing its non core functions and focusing on the core competencies. It allows
    organizations to rejig their entire operations and reframe it so that they operate at lower
    costs and maximize profit margins. For being a market leader, an organization must re-
    look the whole process and determine which processes can be downsized or upscaled for
    maximum competitive advantage. The main reason and objective of SCM is to provide a
    strategic weapon to build up and enhance sustainable competitive advantage by cost
    reduction without compromising customer satisfaction (Mentzer et al. 2001). When the
    organization reduces cost and maximizes value, products and processes become more
    innovative. This results in effective mass customization and improves product life cycles.
    Thus, the organization is powered well to cater to varied market segments and customer

1.2 What are the prime business functions of Meditech Surgicals? Explain the link
between supply chain management and business functions in Meditech Surgicals.
(Assessment Criteria 1.2: Explain the link between supply chain management and
business functions in an organization)
The prime business functions of Meditech Surgicals are:

  • Forecast demands and procure raw materials accordingly
  • Produce high end and innovative endoscopical surgical equiments
  • Deliver and distribute the equipments in a timely fashion and maintain
    sufficient inventory
  • Enhance profitability by catering to varied demands
    The supply chain constitutes of the total process ranging from obtaining raw materials
    through all suppliers to delivering the end product to the consumer. Supply Chain is the
    total chain of exchange from original source of raw material, through various firms
    involved in extracting and processing raw materials, manufacturing, assembling,
    distributing, and retailing to end customers (Saunders, 1997). Each step of the process
    adds value to the end product thereby making it a value chain. Thus it touches upon each
    of the business function by exchanging value addition. Business functions which are
    closely linked to supply chain management are: demand forecasting, production planning,
    raw material procurement, production of finished goods, storage and distribution,
    transportation, and order management. With an effective SCM, the organization will
    always have the right inventory holding and this eliminates the need for safety stock.
    Right from procurement of raw materials from suppliers to delivering finished goods to
    end consumer, an effective Supply chain management makes all the business functions
    efficient and cost effective.
    1.3 Discuss the key drivers for achieving an integrated supply chain strategy in
    Meditech Surgicals? (Assessment Criteria 1.3: Discuss the key drivers for achieving
    an integrated supply chain strategy in an organization)
    Supply Chain Management is an integrating philosophy to manage the total flow of a
    distribution channel from supplier to ultimate customer (Ellrarn & Cooper, 1993). The
    key drivers for achieving an integrated supply chain strategy in Meditech surgicals are:

An efficient customer service management process: Customer service
management is vital to the success of any organization since it acts as an
important source of customer information and satisfaction. On the other hand,
the customer also gets accurate information on new products and their
availability through interactiion with the production and distribution

  • Well co-ordinated procurement: Demand forecasting reports are shared
    with suppliers to assist the manufacturing process and new product
    development. This results in a reduced product development cycles and
    effective inventory management. With the advent of technology, e commerce
    interactive portals can help suppliers stay updated on the upcoming demands.
  • Innovative product development and customization: Integration of
    suppliers and customers into this process is paramount. This reduces
    production cycle times and the products reach faster to the market. This gives
    a lot of time for effective customization of the products to meet the varied
    customer needs.
  • Manufacturing and distribution: A flexible and adaptive manufacturing
    process is needed to meet the ever changing demands for quantities and mass
    customizations. When the manufacturing cycles are shortened, products are
    delivered faster and lead to better customer satisfaction. The finished products
    reach the distributors in a shorter period of time and hence they too don’t find
    it necessary to do panic ordering.
  • Warehousing: The concept of decentralized warehousing assists in timely
    distribution by reducing wait times and transportation delays. However, it is
    imperial to enhance communications between distributors, regional
    warehouses and the central warehouse so that demand forecasting and
    delivery are accurate and there are no cases of inflated demands which cause
    unnecessary load on production processes.

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A worldwide recognized credential that gives professionals a thorough understanding of theoretical concepts and real-world applications of quantitative finance is the Certificate in Quantitative Finance (CQF). Derivatives, risk management, mathematical finance, derivatives, risk control, financial programming, and quantitative trading strategies are some subjects covered in the curriculum. The Certificate in Quantitative Finance (CQF) will give you the specialized quantitative skills necessary for success, transforming your career. Because of this, a focus is placed on teaching relevant, practical skills you may use immediately. 

Professionals can acquire the knowledge and abilities necessary to succeed in computational finance roles through the CQF program. The flexible nature of the curriculum enables working professionals to retain their employment while enrolled. Probability theory, stochastic calculus, and the pricing of derivatives are some basic concepts covered in CQF Level 1. Building on these ideas, CQF Level 2 discusses more complex subjects, including exotic products, model validation, and algorithmic trading. Professionals who complete both levels of the CQF program will thoroughly understand quantitative finance, preparing them for various positions in the computational finance industry.

Availability of CQF Courses in Belgium:

Belgium has not had any particular businesses providing CQF Level 1 & Level 2 courses. On the other hand, Belgian citizens can sign up directly for the CQF course on the Fitch Learning website. The flexible curriculum offers access to various online tools and support, enabling professionals to continue working while they study. The company that provides the CQF program in Belgium, Fitch Learning, does not have a physical presence there. Belgian citizens can still apply to the program and take distance learning courses. Your career success, both now and in the future, is the goal of the curriculum. Your enrolment price includes everything you will need to complete the qualification. This covers pre-program planning, faculty assistance, tuition, assessments, textbooks, access to the CQF alum network, the CQF Portal, the CQF App, the Lifelong Learning Library, and a one-year membership to Wilmott Magazine. This guarantees that neither you nor your company will incur any additional charges. The CQF curriculum is revised every three months to include the most crucial market practices.

Because the program is delivered online, anyone can access it. Local institutions in Belgium can provide computational or quantitative finance courses besides the CQF curriculum. In finance, known as quantitative finance, financial data is analysed using mathematical models and tools to make predictions and judgments. Numerous academic institutions in Belgium provide undergraduate and graduate-level quantitative finance courses. This essay will concentrate on the curriculum, advantages, and employment chances of the level 1 and 2 computational finance courses provided in Belgium.

Quantitative analysts evaluate financial data and forecast future market patterns using mathematical models and techniques. They work for hedge funds, investment banks, and other financial organizations. Financial risk is assessed and managed by risk managers using statistical methods. Banks, insurers, and other financial organizations employ them. Financial engineers design and test economic goods and solutions using mathematical and statistical models. Banks, insurers, and other financial organizations use them. Portfolio managers manage investment portfolios, choosing investments based on risk analysis and market trends. Numerous institutions in Belgium, such as the Solvay Brussels School of Economics and Management, the Vrije Universiteit Brussel, and KU Leuven, offer level 1 quantitative finance courses. A foundation module for the Master in Quantitative Finance program offered by the Solvay Brussels School covers subjects including statistics and probability, financial mathematics, and financial markets. A core module on quantitative approaches in finance is part of the Master in Quantitative Finance program offered by the Vrije Universiteit Brussel. This module covers financial modeling, risk management, and investment analysis. A core mathematical finance module in the Master of Science in Financial Engineering at KU Leuven covers stochastic calculus, option pricing, and risk management. Taking level 1 and level 2 quantitative finance courses can lead to various financial employment prospects. Taking a level 1 course in quantitative finance has many advantages. In addition to developing a thorough understanding of the statistical and mathematical techniques used in finance, students will also obtain knowledge of financial markets and instruments. Many different financial careers, such as investment banking, asset management, risk management, and financial analysis, benefit from having this knowledge. Students who successfully finish a level 1 course in quantitative finance are also well-prepared to undertake more advanced or graduate-level coursework in the subject. By presenting increasingly complex mathematical and statistical

techniques used in finance, level 2 courses in quantitative finance aim to build on the foundation offered in level 1 courses. Advanced derivatives pricing, stochastic calculus, and financial econometrics are typically covered in the curriculum. Along with learning how to create and evaluate quantitative trading strategies, students will also learn about more complex financial instruments like exotic options.

Numerous foreign banks and financial institutions operate in Belgium, where the financial services sector is expanding. There is a need in the industry for qualified individuals, particularly those with a solid grasp of quantitative finance. Graduates of the CQF are well-positioned to work as quantitative analysts, risk managers, and trading strategists in the Belgian market. With good pay and room for professional progression, these positions are in high demand.


Despite having no physical presence in Belgium, Fitch Learning still allows residents to sign up for the CQF program and pursue distance learning there. Professionals who complete both program levels will thoroughly understand quantitative finance, preparing them for various positions in the expanding Belgian financial services sector. A CQF qualification can be a worthwhile career investment because it offers chances for job progression and competitive pay in a demanding and fulfilling field. CQF offers precisely the right mix of the theoretical underpinnings and the practical expertise required in applications to real-world use cases. The CQF, acknowledged by the financial services sector, is a requirement if you want to advance or take on a career associated with quants. It will give you various modern quantitative skills and strategies that will help you flourish in today’s markets.

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