CSCS Academy

Breaking New Ground in Executive Education & Development

Introduction

The CSCS Academy is a valuable resource hub for decision makers and shapers in the global cash industry. At its heart is a pioneering process to develop high level training programmes for currency supply chain executives and managers. It also seeks to establish a new knowledge base of applied research and case studies to support critical decision-making at all touchpoints in the cash cycle.

Background Context

The cash industry reaches all corners of the planet, with almost every nation invested in making, circulating and destroying banknotes and coins. The recent emergence of digital money, trading and payment systems has altered the status quo, and a handful of countries are adopting policies in support of cashless societies. Nonetheless, hard currency will remain systemically vital for the next 20-30 years, both in developed and developing markets.

While currency supply chains are highly standardized around the globe, from institutions and equipment to product design and process flows, they also contain inefficiencies which can hinder innovation: silo effects, supplier dependency, a lack of integrated and interoperable data systems, and the long lifespan of capex-intensive infrastructure, to name a few.

In parallel, despite the challenges posed by significant shifts in technology, public policy and consumer attitudes, senior managers are rarely trained to take a systemic view of the entire cash life cycle and to understand the long-term implications of such dynamics on their processes, efficiency and profitability.

Addressing Strategic Gaps in Executive Development and Learning

This is particularly relevant at the interface between strategy, technology and operations management. Currency supply chains today are built on complex, multi-loop manufacturing and distribution systems, but control is split between central banks and a range of suppliers. Public and private interests are frequently misaligned, leading to conflicting business models and strategic priorities.

Nonetheless, as digitalization and technological capabilities advance, organizational leaders across the industry are under pressure to reduce operating costs, improve performance & product integrity, and integrate environmental dimensions. There is a growing demand need for better training and development to enable public and private sector executives to achieve these vital goals in a rapidly changing context.

From summer 2018, the CSCS Academy will be partnering with one or more highly ranked business schools to address this demand. Its main offer to the global cash industry will be a 5 day residential executive programme titled Currency Supply Chain Management for the 21st Century (CSCM).

About the Programme

The CSCM course will take a helicopter view of the short- and long-term trends reshaping the industry, and harness such foresight with the latest insights and fundamentals that underpin supply chain excellence. In doing so, it will draw on the knowledge, expertise and research base of a world-leading supply chain and logistics faculty.

The programme will challenge participants to reflect and critically analyse issues such as the viability of their organisation’s current business model and competitive positioning, strategic agility, understanding of its stakeholder landscape, and more.

By extension, it will focus on practical methods and approaches to improve business processes and organisational structures, build future capabilities and deploy enabling technologies. It will give managers a range of skills and frameworks which help them, for example, to understand how […/…] can be integrated into supply chain design or to figure out what really drives financial and organizational performance.

It is also clear that many new opportunities are emerging as a result of technological breakthroughs, creating the potential to strengthen existing partnerships, or build new ones throughout the supply chain. Knowing how to deploy enabling ‘smart’ technologies rapidly and effectively can further increase the efficiency of cash life cycle management and the interoperability of different actors, systems and solutions.

Central Themes

Among the key areas that participants will cover are the following:

1/ Global Trends

This section leverages industry foresight to frame a wider debate about the future of cash. Digital, mobile and online finance platforms are reducing physical currency demand in many markets, while the emergence of cryptocurrencies challenges the nature of cash itself. A growing number of governments are embracing the idea of cashless societies, and not just in highly developed countries (e.g. Ecuador, Estonia, India and Kenya). Meanwhile, advances in automation, machine learning, data analytics offer transformative potential across supply chains, and have important implications for internal functions such as HR.

2/ Value Creation and Capture

Against this backdrop, participants will analyse short- and long-term implications for existing business models and explore ‘blue ocean’ scenarios for their organisation’s future. From a strategy perspective, the programme will consider the misalignment of definitions of value for key supply chain actors, as well as the institutional tensions and fracture points in governance systems which can result. This leads into a wider analysis of how different actors can optimise future returns on investment and profitability.

3/ Emerging Infrastructure Technologies

New information technologies are already catalysing deep change in existing supply chain relationships. This section focuses on how they can be used to bring about new partnerships and ways of working, in particular the integration and interoperability of data systems. Innovations in currency inspection, bundling and sorting, as well as machine learning technologies and artificial intelligence, will be among the topics discussed.

4/ Core Processes

This section examines the evolving nature of supply chain links in production, storage, transportation and destruction. Particular attention is paid to end-of-life processes that can shift a currency supply chain from linear to circular principles, embracing recycling and reuse of core materials. Participants will investigate a range of strategies to meet complex security standards and match customer expectations, within the context of their market’s stakeholder landscape and value chain dependencies.

5/ New Organisational Models

Having gained an understanding of the basic flows, the next step in building currency supply chain excellence will be to focus on the organisational forms that enable it. At this stage, participants will have grasped the need to move from a functional to a process-oriented organisation, so they will learn how to collaborate across functions, organisations and partnership networks to enhance financial and operational performance.

Complementary Topics

  • Risk and opportunity management in a global context
  • Decision support tools for robust optimisation
  • Systems integration & interoperability
  • Procurement & outsourcing strategies
  • Cost to profit process remodelling
  • Data analytics: auditing & reporting
  • Supply and demand management
  • Sustainability & environmental strategy
  • Counterfeiting & currency security
  • Stakeholder landscape analysis

Participant Profiles

Currency Supply Chain Management is ultimately designed for managers involved in creating, optimising or redesigning a supply chain, and/or formulating strategy to optimize their organisation’s position within the sector.

Participants should have experience in one of the following areas: cash policy, operations, manufacturing, logistics, processing or sorting, procurement, information technology management, new product development or distribution, or anti-counterfeiting. They should also be responsible for, or contribute to, the supply chain decision-making process in their organisation.

It is also expected that participants will come from leading organizations throughout the sector:

  • Central banks
  • Retail banks
  • Foreign exchange firms
  • Cash-in-transit companies
  • Commercial equipment manufactures
  • Information technology providers