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China’s First Supply Chain Institute Launched in Ningbo

Ningbo Supply Chain Innovation Institute China was launched officially on 7th, March in Ningbo University. Ningbo Supply Chain Innovation Institute China, jointly built by Ningbo and MIT, is the first supply chain institute in China and it will start taking in full-time postgraduates worldwide in the autumn of 2017. 
Ningbo Supply Chain Institute China is an independent and non-profit making education and scientific research institution temporarily set in Ningbo University. With educational resources such as curriculum provision, teaching methods and assessment system introduced from MIT, it offers master and doctor degree programs and high-end training for enterprises’ senior management. Ningbo Supply Chain Institute aims to bring up high-end and international supply chain management elites. 
     Eric Grimsby , Executive Principal of MIT and Jussi Sherfey, Director of MIT Transportation and Logistics Center attended the press conference on 7th, March. Jussi mentioned that logistics and supply chain management is a weak spot for developing countries. For a product, the logistics and supply chain management accounts for 7%-8% of its price in developed countries whereas that rate can rise  above 20% in developing countries. Thus by lowering the cost of logistics, Chinese products are allowed to lower their prices by 15% at most which is of great importance in improving Chinese enterprises’ competitiveness and boosting China’s development. At present, there is a shortfall of about 1million supply chain management talents in China

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