Supply Chain Career Path

Career Path in Supply Chain Management

Supply chain management is the process of integrating and optimizing all steps necessary to produce products in the proper amount and deliver them on time. Basically, it is the movement of raw materials to consumable products in the most efficient manner possible. A retail company, for example Wal-Mart, is the largest company that is part of the Fortune 500, has built its fortune on the success of their supply chain management system. There are many good reasons to choose a supply chain management career path, especially if you have a knack for organization and working with others.

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Islamic Accounting – its Principles & Comparison with Conventional Accounting

 

Islamic Accounting

The accountants who have been brought up with the knowledge that accounting is a technical, value-free and objective discipline. And, it is hard to accept when the same idea is connected with some religious principles, such as accounting in Islam. As a matter of fact, Islamic society operates under different principles and assumptions. While operating a business, they have the role of stewardship toward society. Similarly, guidelines of the Shariah also have defined duties towards employees, customers and competitors. That is why, objectives of Islamic accounting are different from those of conventional accounting. Here are the two main reasons:

  • Islamic banks deal within a Shariah framework. As a result, the nature of their transactions is different from that of conventional banks.
  • The users of the information generated by Islamic financial institutions have different needs from the users of the information published by conventional institutions.
Islamic accounting
accounting in Islam

 

Engineering Project Management – How it Help Engineers to Grow Their Career?

Of the many careers that are available, one of the more interesting is engineering project management. This is a relatively new degree or emphasis that has been around for quite some time and today it is getting more emphasis that ever.

What is Engineering Project Management?

This is a degree that allows students to learn the basic principles of how complex engineering projects work. They are: Management, Organization, and Methods.

This is more than just understanding a project or the materials that it need for completion, it also involves the human element which is part of the managerial process. From small to large projects, the ability to understand the technical aspect, managerial functions, and skills for engineering are paramount to achieving the degree and advancing in terms of your career.

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Why Project Management is Important for Engineers?

The benefits start of project management for engineers starts with understanding the human element involved in the creation of projects. Building a bridge for example is a result of several disciplines being put together in terms of their planning, materials, equipment, and skills needed so that a proper bridge can be built across a body of water.

Even building a road for example requires the work of drafters, civil engineers, and soil specialists to ensure that the job is completed in a proper manner. The project manager oversees the different people involved in the work to ensure that it all runs smoothly and is completed on time and on budget.

Supply Chain Roles and Responsibilities

Maintenance of a business is not the task of a single person whether it is a huge enterprise or a home-based small business. A well-managed team can make the business successful. The most important role is played by the manager who maintains the supply chain of the company. The major role of the supply chain management is to assure that the demand of customers is met with the supply of the products. It has to be assured that the companies never produce extra or insufficient products. Here we have everything you should know about the supply chain roles and responsibilities.

Demand of Supply Chains in Today’s Business

Supply chain management is an integral part of the business organizations and important for the success of the company. Due to the rapid advancement in technology, most of the business organizations are available online. The market is becoming competitive and thus increasing the role of supply chain management. Due to this reason, demand for supply chain management qualification is growing worldwide.

supply chain roles

Takaful Meaning, Principles and its Comparison with Conventional Insurance

Unforeseen events and emergencies can happen to anyone. It can lead to the loss of a loved one or some prized possessions. Humans have always been planning for their future. In order to protect ourselves from such situation and assure that we will get some financial support, we buy insurance. There are different types of insurance policies but the one known in Islam is Takaful or Shariah Insurance. Takaful meaning is providing guarantee in an Islamic way.

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Takaful Definition:

It is a type of insurance system in Islam that is based on the laws of Sharia or Islamic principles. It is a system in which money is pooled and invested. It is a mutual risk transfer arrangement in which both parties will share the profit and loss equally. Here we have everything you need to know about it.

Principles of Takaful in Islam:

The main ideology of Takaful is to bear other person’s burden and there is no profit in this system. Some of the important principles of takaful are as follows:

  • For the common good the policyholders will corporate with each other.
  • The contribution of the policyholders is considered donations.
  • To help those who need assistance, all their policyholders will pay their share.
  • The liabilities are shared according to the pooling system of the community and losses are divided.
  • According to compensation and subscription, there is no uncertainty.

 

Top 5 Supply Chain Management Industries

Supply Chain Management is about managing the product or service from its creation to its delivery to the customer. Supply chain management industries has a very low unemployment rate which means almost all who pursue it land a job successfully. That is why there are many institutions now, who are providing certification related to this field, especially AIMS’ online masters in supply chain management and supply chain management diploma online are top qualifications among them.

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To show more about the demand for supply chain management professionals, below are the top industries where the scope of professionals of this field is growing.

1. Tech and Electronics

Companies like Intel, Samsung, Apple, Lenovo and so many others are keen to recruit new talent which has a better understanding of the tech industry other than the normal qualities companies seek in job-seekers. That is why the supply chain management workforce has handsome pay too in this industry.

2. E-commerce

With the boom of smartphones, everybody is using the internet and that has also increased the trend of online shopping. And that is why e-commerce giants like Amazon, eBay, Walmart have thousands of supply chain management professionals.

3. Food and Beverages

With the high demand for food and beverages, the scope of the workforce is already increasing for Coca-Cola Co., MacDonald’s, Nestle, Starbucks, and many other companies.

4. Automotive

The previous year, more than 94 million automobiles were manufactured, which means thousands of supply chain management professionals took part in their manufacturing and development and made them available for a large population of the world.

5. Consumer Goods

There are thousands of variety of products in the consumer goods industry and that is why there is a need for supply chain management professional, who can manage the supply chain. Most notable companies in this industry are Unilever, Procter & Gamble, and Colgate-Palmolive.

 

How to Become a Project Manager Using Five Simple Steps?

There are strong opportunities in the field of project management. Becoming a project manager has become more popular over the past two or three decades as the field has expanded globally. Understanding how to become a project manager will help you achieve this goal in five easy steps.

 

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Five Easy Steps to Becoming a Project Manager

1. Good Grades:

You’ll need to get good grades in high school, especially in areas like math and science so you can get into the right college or university. You’ll also need to develop good study skills, stay healthy, and don’t do anything to undermine your potential career.

2. Manage Pet Projects:

There are many opportunities to manage small projects, even those that are part of your hobby. By learning the basics of running small projects, you will be better equipped to take on larger ones.

3. Consider Joining Project Management Firm:

Project management firms provide more experience than you might think. You may notice that many of the best project managers are engineers who have used their engineering experience in this regard. By spending some time in the project implementation forms, you can witness first-hand many projects that are managed the professional way.

4. Get the Right Software:

The good news is that there is a plethora of project management software to help you get organized and run an operation. The right software can help you budget, schedule, and manage your project properly.

5. College Education:

One of the most important steps to becoming a project manager is getting the education needed to qualify for most job openings. The question is, what education is needed to become a project manager? The answer is usually a masters degree in business management from a respected college or university. Or if you already hold a degree in other discipline, you’ll need to get the proper training, such as online project management certification from AIMS.

You’ll also need to become a people person and learn how to get along with others so that you can run your project at maximum efficiency.

Islamic Investment Funds and Islamic Mutual Funds – Principals & Comparison

Islamic Investment Funds and Islamic Mutual Funds

When you want to invest in a proper manner, you have to do all you can in order to figure out the right Islamic investment funds that will suit your needs. While there are many challenges to overcome, the reality is rather simple. All you have to do is to help the Islamic community grow and one of the best ways you can use to achieve such a result is to focus on the Islamic investment funds and Islamic mutual funds. These allow you to invest in dedicated companies in the Islamic world that actually need those funds needed to survive.

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Is there a difference between the Islamic investment funds and the Islamic mutual funds?

The prime difference here is that the Islamic mutual funds allow multiple investors to work together in order to complete this task. This is rather impressive and it can bring in front some very nice results. However, if you want to invest on your own and not split any profits, the Islamic investment funds should be right up your alley. You do have the Shariah compliant investment funds and the Shariah compliant mutual funds that you can use here. The idea is to find the ones that suit your needs and results can indeed be great in the end, that’s for sure!

How are they different from conventional funds?

Conventional mutual funds and the investment funds tend to be focused on just about any type of investment. You don’t have any particular things that will stop you. The idea is that you can invest in anything you want and get the profits fast and easy. It sounds great, but if you want to help the local community, this will not be for you. This is why the Islamic investment funds and the Islamic mutual funds are very popular. They can help you get the right value and experience all the time, which in the end will work to your own advantage. Definitely worth your time and the outcome can be a very good one.

Plus, the great thing is that you can invest in the local community and help Islamic companies grow. This is very important, because there are many companies which are in dire need of help and you are the best one to provide that help to them at all times!

Why the demand of these funds is growing worldwide?

As you know, there are many Islamic communities all over the globe. With help from this type of investment funds, you get to eliminate the hassle and focus on what really matters. You have the unique opportunity to deliver the financial influx that Islamic companies need. All you need to do is to access the Shariah compliant investment funds and the Shariah compliant mutual funds. Do that, focus on results and the experience can be second to none for sure!

Should you consider investing in these funds?

So, don’t hesitate and start investing in the Islamic investment funds as fast as possible. Just consider that, focus on value and you will be able to help the local community grow very fast. This is very important and it provides you with a great set of benefits in this regard. If you want to learn more about Islamic banking and financial system, you may choose to study diploma in Islamic banking – an internationally recognized professional development program. This program comprises of well-structured Islamic finance and Islamic banking courses.

 

Why Become a Certified Islamic Banker to Increase Career Prospects?

How to Increase Career Prospects in Islamic Finance Profession?

Islamic Banking sector is distinctive and a popular area of finance that has become a force to be reckoned with in the international forum. According to the World Bank report for future Islamic Banking competitiveness predictions, there is a good chance that in the next twenty years, Islamic Banking will top the charts as the world’s leading system of finance and banking. The industry faces a growth rate of 15-20% per annum and we all know what that means, more resources and better opportunities for Certified Islamic Bankers. Many study programs, for example Certified Islamic Banker is designed for finance professionals, and it may be achieved online by studying Islamic banking courses and Islamic finance courses.

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What is Islamic Finance?

Well, that’s easy. The world has evolved in several ways in the past hundred years and as the economic structures of different countries grow complex day by day, many interested in attaining their place in the decision-making arena of banking and finance are facing a unique market that has risen out of religious contexts. Islamic Finance is a system that covers the area of banking and finance based on the Muslim Shariah Law. This law discourages the payment of interest upon loans and therefore adding a whole new dimension to Banking.

Why is becoming a Certified Islamic Banker a promising idea?

According to ratings by Standard and Poor’s, the total number of assets in the possession of Shariah compliant institutions amount to $4 trillion. That is a number worth looking at for many professionals in the field who would like to take an interest in learning more about Islamic Finance. This system’s impressive performance in the past recessionary periods has also lead to Western Banks opening their own Islamic windows. Adding to this, Islamic banking is equity based, sustainable and an environmentally and socially responsible way of financing. The best part is, it’s not only restricted to Muslims but people from all walks of life.

What are the Qualifications needed?

A global qualification has been established from both a Shariah and technical perspective that provides the one’s seeking job security in the market to not face any unnecessary problems. One can study the Islamic finance courses online and it could be completed in three to four months. This leads to them being awarded with a Certified Islamic Finance Expert (CIFE) and Certified Islamic Banker (CIB) certifications. Islamic banking courses can be learned online by AIMS, who have made it easier for anyone wanting to go in the field.

“Takaful, pension funds, wealth and fund management – this is the future for Islamic Finance”, said Haris Ahmed, director of Academy for International Moderns Studies (AIMS). Many of the options given to us now include the option to focus our energy on choosing to become Certified Islamic Banker as the prospects in the future for the industry are rapidly growing and with a good conscience. Socially acceptable and fundamentally monitored by sacred law, Islamic Finance is creating better career prospects in the world we live in as we speak.

Project Manager VS Program Manager – 7 Major Characteristics

Project Manager VS Program Manager

While there are similarities between managers of projects and programs, there are also stark differences between both roles. It helps if you look at the differences between projects and programs which require similar management styles, but have different overall objectives. Thus, the project manager vs program manager dynamic is in place.

A project is a singular effect that is focused on a concept or product while a program consists of several projects that fall under the same department. This means that running a program is far more complicated than overseeing a single project which means that different skill sets and objectives apply when it comes to managing the overall effort.

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To put it another way, a project is a temporary effort that has a singular goal while a program is several projects grouped together because of their general similarities. For example, a marketing campaign may be considered a program that promotes several different projects that include traditional media, promotions, social media, public relations, and more.