The demand to supply ratio for supply chain professionals exceeds 6:1….
We have been hearing about the supply chain talent crisis for quite some time now. MIT Center for Transportation & Logistics published a white paper on “Are You Prepared for the Supply Chain Talent Crisis?” in 2010. The paper discussed how the global supply chain faces a severe shortage of talent. Fast-forward six years, the situation has actually worsened and shortage has become even more severe. In fact, some reports have suggested that the demand for supply chain professionals might exceed supply by a ratio of six to one. Obviously, this is a serious challenge to the supply chain organizations and their performance. But I see this as an opportunity both for supply chain professionals as well as supply chain organizations. The opportunity is bigger certain areas within supply chain management like supply chain analytics.
Supply Chain Leaders see Advanced Analytics as the capability of the future….
Deloitte published a report titled “Supply Chain Talent of the Future” based on a survey of supply chain leaders in 2015. More than 95% of the supply chain leaders identified advanced analytics including optimization and predictive analytics as the foremost capability of the future and said either that their companies currently use them or that they expect to in the future. Another component of the survey was about the technical competencies of the employees required for the future and where the firm stood on them. Having a technical competency in supply chain analytics was seen as becoming the most important in the future, with two-thirds of respondents backing this. Only 46 percent saw it as a strength today in their supply chain organizations.
Make the right moves now…..
Obviously this is a great opportunity for the supply chain professionals in general and supply chain analytics professionals in particular. You need to start building the right set of skills and optimization must be at the top of the priority list. At the same time, you need to have a strong understanding of the fundamentals of the supply chain as well. However the most important thing is, you need to start today!
For businesses, this is the time to start building supply chain analytics capabilities in their employees. The businesses that will develop supply chain capabilities in their organization now would take a lead that will become difficult to surpass. However in order to achieve this, businesses need to create a complete ecosystem for the employees, one component of which should be employee training. Small businesses in particular lag when it comes to using advanced supply chain analytics and they need to give extra focus on building the right set of capabilities in their organizations.
You simply can’t miss the opportunity that supply chain analytics & optimization provides to everyone – professionals, businesses as well as trainers!!
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