Tuesday, April 22, 2014

Supply chain management drives when, where, how of business

Supply chain management is one of the fastest growing but most misunderstood areas of business.

Supply chain students study abroad in Panama 
According to the Bureau of Labor Statistics, the supply chain management field is expected to grow 22 percent between 2012 and 2022, which is double the average growth rate for all occupations.

Joe Walden, a decision sciences and supply chain management lecturer, said he thinks supply chain management is an important business skill because it touches all other departments of a company. A company can’t survive if its supply chain fails to get the product to the consumer.

“I think everybody that’s going to go to work for any company needs to understand supply chain, but especially those who are trying to become an MBA
need to understand how the supply chain interacts,” Walden said. “It’s not a stand-alone function.”

One of the biggest roles of supply chain management professionals is to look for opportunities to increase the company’s bottom line by finding the most cost effective and efficient way to get resources and produce and transport a product. However, supply chain management professionals also drive top-line revenue by finding out what the consumer wants to buy and where and when they want to buy it. Steve Hillmer, director of finance economics and decision sciences, said supply chain is important because it revolves around getting the product to the customer.

“It starts with the customer and asks, ‘What does the customer want?’” Hillmer said. “Then it goes back and asks, ‘Okay, now where do we get that?’”

The Supply Chain Management graduate certificate is composed of one decision sciences course and four supply chain management courses for a total of ten credit hours. These courses cover operations management, procurement and supplier management, logistics and distribution management, information systems for supply chain management and Lean Six Sigma.

Learn more at MBAcert.ku.edu and apply by July 15 for fall.

by Allison Kite

Thursday, April 17, 2014

Business law professor recognized for paper

Journal of Financial Crime, an international research journal published in the United Kingdom, has recognized John Gergacz, KU professor of business law, for writing one of the journal’s “Highly Commended Papers of 2013.”

Gergacz’s paper, “In-house counsel claims against a corporate employer and access to privileged corporate communications: An analysis and a proposal,” appeared in the journal in fall 2013.

The paper evaluates in-house legal counsel’s dual role in wrongful discharge claims against a corporate employee and its effect on privileged corporate communications.

“I feel very honored to have my work recognized by the Journal of Financial Crime,” Gergacz said.  “Its editorial board consists of legal scholars from throughout the world and I am pleased that they selected my piece for this distinction.”

Gergacz is also the author of the leading legal treatise, “Attorney-Corporate Client Privilege 3rd edition.”

Wednesday, April 16, 2014

Peeps hatch plan to sell all year

Easter’s famous marshmallow chicks have come to roost year-round.

Peeps, one of Easter’s most popular candies, may dominate the marshmallow candy market, but it’s yet to be determined if they can survive on the shelves year-round. Starting May 1, Just Born, the treat’s manufacturer, will add new varieties of Peeps including miniature Peeps and three different flavors (strawberry crème, chocolate crème, and sour watermelon). Vince Barker, an associate professor of strategic management, said he thinks the strategy is wise and uses his sons as evidence.

“While I do not eat a lot of Peeps, my family loves them and my sons in particular are huge fans,” Barker said. “We already buy peeps shaped as pumpkins and hearts for other holidays as treats, so my family’s experience shows a market might exist for Peeps outside of holiday periods.”

Barker said Just Born’s strategy will lead to more than just increased revenue and customer satisfaction. Keeping Peeps on the shelves year-round will likely lower the cost of production. Laura Poppo, a strategic management professor, said she agrees with Barker— producing Peeps year round makes economic sense.

“Assuming Peeps require some specialized equipment to manufacture, if they only use this equipment a few months out of the year, then their return on investment is minimized,” Poppo said.

Now that Peeps will be offered all year, people can count on constant access to them at grocery stores.  With these candies taking up shelf space, Poppo is concerned by what it might replace.

“I am just wondering what product the supermarkets are going to take off the shelf in order to put Peeps on the shelf year round — I hope it is not black licorice,” Poppo said.

by Mackenzie Leander

Tuesday, April 15, 2014

School of Business makes rank on Best for Vets list

The University of Kansas School of Business was recently ranked No. 25 on the Best for Vets: Business Schools 2014 list.

Military Times releases the annual list of the top colleges, business schools, employers and other organizations for veterans. To determine the ranking, Military Times released a survey and analyzed answers from the colleges and universities that responded.

The ranking considers schools’ resources, tuition, programs and GMAT scores among other factors. Military Times also released a list of the best universities for veterans in the fall, and KU as a whole ranked No. 23 on this list.

The School of Business and the University of Kansas have created programs and support for veterans, reserve and active duty soldiers including the MBA with a concentration in Petroleum Management, the Brigade Pre-Command Course and the Masters of Science in Business Supply Chain Management and Logistics, as well as other non-academic programs and services.

Dee Steinle, administrative director of masters programs, said a variety of university and business school programs were factored into the ranking, but one of the most important was the MBA program.

“In particular, there was a point of interest on the MBA program because I think it’s a very familiar commodity across schools,” Steinle said. “While I think all of our programs played into it, the MBA was probably the most recognizable program that they circled back to.”

The business school provides a variety of programs tailored to the needs of veteran and current military students. Steinle said the MBA with a concentration in Petroleum Management is beneficial to Navy officers who are looking for new skills.

“We have a specific part of our MBA program that allows supply corps officers from the Navy to come to KU, earn an MBA and take hours within the School of Engineering as well to reshape their careers into fuels officers,” she said.

Greg Freix, director of the Master of Science in business supply chain management and logistics program, said while both the business school and the university have strong programs for veterans, they’re working on initiatives to further improve services for veterans. One such initiative is a veteran legal services center, which would be run through the School of Law in Green Hall. Law students, supervised by faculty, will assist veterans with legal issues surrounding veteran’s benefits claims.

“We’re trying to better identify the veterans on campus in a way that meets with legal requirements,” he said. “We’re trying to better serve the veterans on campus as we pull together folks from all these different areas.”

by Allison Kite

Friday, April 11, 2014

Dean Bendapudi inducted into KU Women’s Hall of Fame

Dean Neeli Bendapudi was inducted into the
Dean Neeli Bendapudi
KU Women’s Hall of Fame last night along with five other new members.

Since Bendapudi returned to KU in 2011 as the first female dean at the School of Business, she has raised more than $55 million for a new state-of-the-art business school to open its doors in fall 2016. She has helped implement a program to instill social responsibility in business students by pairing MBA students with Kansas nonprofit organizations, and she has collaborated with university departments to increase the number of women in business.

“The university is lucky to have such an articulate and enthusiastic representative,” said Ann Cudd, vice provost and dean of undergraduate studies.

Since 1970, KU has inducted outstanding leaders into its Women’s Hall of Fame, which is located at the fifth floor of the Kansas Memorial Union.

Tuesday, April 8, 2014

A clean sweep for accounting students

Accounting students (from left) Kara Notvedt, Morgan Shapiro and Adam Baker.

KU business students cleaned house at the ConocoPhillips Accounting Challenge last week, taking home prizes for first, third and fourth place.

Students were divided into teams of three, each student from a different university, to compete in the challenge. The three winning teams included business school students Morgan Shapiro (first), Kara Notvedt (third) and Adam Baker (fourth). Notvedt attributes her success to vital skills she learned from KU courses and professors.

“I felt prepared going into the case competition because the accounting program and business school at KU hold their students to a higher standard,” Notvedt said.

Both Notvedt and Morgan Shapiro strongly encourage KU business students to seize opportunities like the accounting challenge.  It’s important for students to network early on in their careers and it will end up paying off, Shapiro said.

“I gained more confidence talking with people that held powerful positions within a company,” Shapiro said.  “Not only did I get to network with the employees of ConocoPhillips, but I also had a lot of fun at their offices.”

The business school congratulates Shapiro, Notvedt and Baker and encourages students to participate in opportunities like the ConocoPhillips Accounting Challenge.

by Mackenzie Leander

Friday, April 4, 2014

Learning the strategy of leadership

Successful business leaders must possess strong strategic thinking skills and decision making abilities.

The new Strategic Management graduate certificate provides a skill set that makes for more effective decision makers.  The certificate integrates economics, psychology and management to provide detailed insight into what makes companies competitive. That knowledge is not only important in the business world, but can also translate into a student’s personal life.

“This program may help MBA students to lead a more fulfilling personal life by making decisions strategically, and it may help them to better manage their work by understanding and practicing the strategic management process,” said Jane Zhoa, associate professor of technology management.

The certificate teaches students how to effectively lead and make decisions while adapting to rapidly changing organizations, environments and demographics. Vince Barker, professor and faculty coordinator of the certificate, said this advanced management focus is important to current MBA students, but it also serves a wider market.

“It’s also a great thing for students who already have an MBA,” Barker said. “They pick up that specialized knowledge that’ll allow them to be a better manager and better business owners.”

The Strategic Management graduate certificate is made up of four management courses and one business course, a total of 10 credit hours. The courses cover international business, corporate strategy, managing technological innovation, strategy implementation and managing strategic direction and change.

Apply for fall 2014 by July 15. Visit MBAcert.ku.edu for more information.

by Mackenzie Leander