Advice to college grads: when you start working...Spend some serious time watching your company's product be built from beginning to end (from the time materials come in until the finished product leaves the facility). Further, study in detail how a customer order is processed (from the time the order is made until your customer has the product/service in their hands). If you put several hours into this, and perhaps even map out the details, you will become a SCM genius and help your employer do all things SCM related better, faster, and cheaper. If you do this, chances are, you will identify a lot of low hanging fruit to generate deliverables and results (for your employer and your resume).
“Over time, more companies are choosing to draw from their SCM team when they are looking to fill the CFO role. Therefore, a background in SCM is the perfect preparation for a CFO career path-& possibly even the job of CEO.” CFO to CFO: Finance and Supply Chain Management: lnkd.in/gsCibmeT I really push my supply chain students to learn CFO talk. College Accounting to me feels like Supply Chain Finance. The Accounting Minor for our SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical. The worlds of Finance & SCM have collided. Your opportunities are endless if you learn how to talk to the CFO…lnkd.in/eJnVHrsM My discussion on why I maybe recommend a Finance graduate degree for SCM students: lnkd.in/ewNBvPf and lnkd.in/ewA2yq7. The good news is that industry will pay more for more strategic skills (i.e., Finance)… Long term in your careers, understanding SCM Finance will be critical. At the end of the day, SCM executives are evaluated on generating shareholder value (bottom line financial kind of stuff, of which has gotten very creative and complicated). Also, more and more SCM VP’s (C-suite types) are reporting directly to the CFO of the company (because SCM is that important to the bottom line). Students often ask me, if they go on to get a graduate degree, what should they get it in. I say get a graduate degree in something you are weak in but will matter in your career (especially long term). You will hit a ceiling professionally if you do not understand SCM Finance. So, I would give that serious consideration in your graduate education. The Monthly Metric: Cash Flow From Operations A great read: lnkd.in/erfZdWk Do you know what this means? 2/10 net 30 (now employers want Supply Chain Managers to be Financiers!!??) lnkd.in/e2TztjY Here it comes: lnkd.in/eNdih2e2 Supplier financing disclosure would be required under proposed accounting rule. The trade payable arrangements, which help companies manage cash, typically aren’t publicly reported even though they pose a liquidity risk. Creative Payment Terms & Buyer-Supplier Financing Industry often sees suppliers complaining about cash-flow issues. But the supplier havoc, for the most part, does not need to happen. The solution might be as simple as robust payment terms & creative buyer-supplier financing. Large OEM buying orgs often try to negotiate not paying suppliers for as long 90-180 days after they actually receive material &/or services. As a function of being the customer & often larger, buying orgs often have this kind of leverage. Many large OEMs currently have cash on the sidelines & appear to be very liquid. Sitting on that cash for several months might not be necessary all the while suppliers in...for rest of story, see... lnkd.in/eJnVHrsM #supplychain #finance #cfo
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…CEOs Will Come from an Unlikely Place: The Supply Chain...
"...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..." Note, this article (2018) was written before covid. Multiply the above statement by a factor of at least two. lnkd.in/g2rhdEAH Great read from Zero100: Supply Chain Leader Traits That Make for a Great CEO. Executive Summary: For many years marketing and finance were the logical breeding grounds for the CEO role, but this is changing with the rise of ubiquitous digital technology and a heightened awareness of environmental impacts, especially climate change. lnkd.in/gRK3Gauh More reads to back up the assertion that future CEOs will have SCM backgrounds... Why supply chain professionals make great CEOs: To become CEO, according to a recent Business Insider article, the move to an operational role is a common segue for many CFOs seeking the top spot. That’s not a coincidence: many companies seek out their CEOs from roles that are operational, such as supply chain management. A famous example, of course, is Tim Cook, CEO of Apple...lnkd.in/g6HJgvX3. Why supply chain professionals make great CEOs The metamorphosis of supply chain from a humble collection of support functions like purchasing, shipping and production to true business leadership is huge. Chief Supply Chain Officers (CSCOs) increasingly control 50% or more of a company’s annual spending, with two thirds of all employees directly reporting to the role. More importantly, CSCOs have begun to play a vital role in strategy development, product and service innovation, and even sales. Why the change? lnkd.in/gXqaMWU4 _ Supply Chain Leaders Making The Move To CEO Better supply chain management means better businesses, and better businesses make for a better world. Very few people make it to the top office of any business without first holding other major responsibilities. The chief financial officer (CFO) role is typically regarded as just such a standard precursor. However, according to a 2015 survey of CEOs in the Forbes 2000, only 13% of CEOs came over from the CFO position. Instead, the trend in recent years has been to move those CFOs into more operational roles, giving them an opportunity to bolster their hands-on abilities within the organization. lnkd.in/gp42y_Q9 How a Background in Supply Chain Can Set You on the Path to CEO Anyone who’s been paying attention knows that Supply Chain Management has emerged from its status a back-office function to become a major strategic differentiator for business. Welcome the Supply Chain CEO! lnkd.in/gxeu2a5B
More advice: scmtalent.com/podcast-sime-curkovic In This Episode: We speak with Sime Curkovic, a Professor of Operations and Sourcing Management at Western Michigan University. Sime talks about his start in supply chain along with how he got into becoming a supply chain instructor. He provides an in-depth dive into the hard skills and soft skills students need in order to best appeal to what employers are looking for. In particular, he shines a light the ability to use data analytics and make better and faster decisions using the cloud-based tools available today vs. trying to work with just color-coded Excel spreadsheets. He sees supply chain as a well rounded major with lots of upside. He also places high value on hands-on, experiential learning. Sime sees hybrid work as the future, but is concerned about totally remote positions that may not provide the best value out of talent. He also encourages students to look at the big picture of where work can develop you rather than simply chasing money. He places very high value on the ability to grow your networks. Sime closes by emphasizing how setting aside time for reading can greatly impact your career.
New trend/question when managers ask me about students: How professional is their email communication & attention to detail? Hmm. Hey College Students: Do not begin an email message with “Hey” & always finish it with “Thank you.” Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s probably way more). Will Email Stand The Test Of Time? lnkd.in/gz9NTye2 Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). It might be the first impression you create! lnkd.in/ge9nGrjx lnkd.in/evaNVnbv I just saw this one from a current student & liked it... lnkd.in/gqMRPeTC Do NOT round up your GPAs, use a post script on your phones for email replies, take your email signatures VERY seriously, & use keywords on your resume.
Students should not change their official GPA for their resume. Instead, I recommend they calculate their major GPA using the courses required for their major & also list their overall GPA (especially if your major GPA is much higher than your overall & your overall is under a 3.0).
Also, a 2.96 GPA is not a 3.00 GPA. If an employer requests an official transcript be sent upon graduation (which they will), this could be labeled as "falsification of employment record" & as a result, an offer of employment can be revoked (if you round up your GPA). I am noticing that several of my students are responding to my emails via smart phones. That is fine. It is 2022 & your future employer will expect you to do the same. However, it can be cumbersome to write emails on your phone that are clean & easy to read. & sometimes, you try to write one word but another word appears that was not intended. So, please take the time to make sure your reply message looks professional & reflects positively on you. Impressions will be made based on your written communication & you will be judged. I would also recommend programming your phone so that the post script tells the recipient of your message that it was sent from your smart phone. That way people will be less judgmental if a mistake was made. You can add the message in your iPhone settings so that it will appear on all emails sent by phone but not on your email signatures sent by computer. An appropriate post script message from your phone would be: “Note: this email was sent by iPhone, please forgive grammatical errors. “
Resume Keywords Ideas/Action Verbs. Does your resume use these? lnkd.in/ea6gV-K Here are my thoughts on resumes: lnkd.in/gxEy9VkH lnkd.in/gCgi72kX lnkd.in/gKV5JYhR #careeradvice
Reminder: Yes, it is now time to start applying & interviewing for summer internships. Companies get budgets for internships approved months ahead of time & they often recruit nationally for the best talent. Some want to get this wrapped up by the end of the year, but you have to start looking now. Do not wait until Spring 2023 to find a Summer 2023 internship. Note, around ½ my students line up summer internships in the Fall & the other ½ during the Spring (so, it’s never too late). Just look at how demand > supply… There are already > 20,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE & lnkd.in/gt98WuvK & > 60,000 business related internships. lnkd.in/gmMH5myb PERHAPS delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb lnkd.in/gARup7zr lnkd.in/g4-csGUy Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). Over half our students are making over $20/hr. I firmly believe the program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16 per hour. Why would any company want to pay 20-30% below avg? I have soooo many students asking about STAR job interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR. More help: lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Help with online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5 Students are getting lots of job offers... Reneging: Once you commit, quit! lnkd.in/e85beQ2 In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? Recent observations & career advice (videos/podcasts): lnkd.in/gJK8xBZe lnkd.in/g-CanjDx lnkd.in/gvPiGTt5 Tips/advice from this college professor (aka, educated idiot): 1. Read. People that read a lot make more $ (2.3 times more?!) lnkd.in/ggBDzJrp 2. Learn the job saving technology. lnkd.in/eu7ANq6 lnkd.in/gE3wp6JU 3. Learn to interview well. lnkd.in/ePzz3NG and lnkd.in/eZgTxWc How to prep for virtual career fairs: lnkd.in/evKd-VzQ Being job ready… lnkd.in/ed-ZfanD 4. Learn to negotiate ($). lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu 5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR lnkd.in/dAwyTUy lnkd.in/gFa3iCsg 6. Delay graduation for experience. lnkd.in/ewKu7b_X 7. Learn to problem solve - lnkd.in/eWaJ8q2 lnkd.in/gSVTKmwC 8. Double Major? lnkd.in/gAViGTVG lnkd.in/gqAE9u8W 9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty lnkd.in/gA9KH-Ff 10. Job rotations? lnkd.in/ervskG5 11. 10 college majors that earn the most money: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU. 12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ lnkd.in/gsKyJ9rn 13. Get certified as a subject matter expert: lnkd.in/g3yfkvQr lnkd.in/gVbQV2q7 14. Learn to talk CFO talk: lnkd.in/gtve9xTM #internships #careeradvice #interviewing #supplychain
Great read…Translation: Success = Pick the right major (i.e., demand > supply) + Get work experience (i.e., internships related to major) + Pick the right first job (i.e., they pay a premium for your major because of supply/demand conditions and you are job ready day one because you have professional work experience). www.wsj.com/lifestyle/careers/college-degree-jobs-unused-440b2abd Half of College Grads Are Working Jobs That Don’t Use Their Degrees Notice: “More than any other factor analyzed-including race, gender and choice of university-what a person studies determines their odds of getting on a college-level career track. Internships are also critical.” I chuckled at this one: "He also regrets taking an entry-level sales job in logistics after months of fruitless job hunting after graduation." “Bachelor’s degree holders in college-level jobs earn nearly 90% more than people with just a high-school diploma in their 20s.” “…most of the graduates who don’t find work reflecting their degrees are what they call “severely underemployed, meaning they’re in jobs that only require a high school education or less.” Picking a college major: lnkd.in/eX8XUHxj Notice SCM made the list: #5. Supply Chain (Logistics): $52,290. finance.yahoo.com/news/majored-one-18-subjects-ll-193945292.html Note, WMU SCM grads (2022) have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. I have been trying to explain SCM to high schoolers. It’s not that easy. Parents like to see this: the number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022: lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review: lnkd.in/gbV_aMT7. “Employers are fed up with college 'waste,' opt for skilled blue-collar workers instead”…Really? lnkd.in/gR5pNeDe. Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu. Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch. The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ. Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2 & lnkd.in/gH3jSWKt. 90% of 2023 graduates think college is really worth it. lnkd.in/g_Vipjd5. College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM. Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E. The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. Professional experience that pays well while in college?...Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3. Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gR5pNeDe. Goals of an internship (it’s not job shadowing): lnkd.in/gMtdr92u. If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well: lnkd.in/g8n-dCz2 hashtag#college hashtag#major hashtag#careers hashtag#supplychainmanagement
Mid-Level Supply Chain Positions | Average Salary: $115,000 Senior-Level Supply Chain Positions | Average Salary: $260,000 Nice supply chain website. My students ask great questions when it comes to…money. Recently, someone asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. Entry-Level Supply Chain Positions | Average Salary: $69,000 Also: Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000 Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000 Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000 Source: lnkd.in/ga8Azij7 __ Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. lnkd.in/dkGr4_uX Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. Salaries per "ASCM" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year." Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7. SCM $ Information - lnkd.in/gn5jM9xt lnkd.in/gTBMP5dM lnkd.in/eQvfFMc lnkd.in/g7YamZCU #supplychain #job #salary #manufacturing #logistics #procurement
Interviewing tips. If you missed it, this is cool (I think)…Google's "Interview Warmup" asks practice job interview questions, then gives feedback on your spoken answers. If you can’t practice w/ another human for an upcoming job interview, Google has a new solution: Talk to its computer. Also worth noting: @LinkedIn has a similar feature where you can practice by recording an answer to an interview question and 1) get immediate AI feedback, or 2) send it to someone in your network for personal feedback. lnkd.in/d8YGspvf Get Instant AI Feedback to Improve Your Interview Answers Also, I have soooo many students asking about STAR job interviews & online robots…lnkd.in/ePzz3NG and lnkd.in/eZgTxWc STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR. Star Method: Tell me of a time when you had to work within a group where the members did not get along? How did you handle the situation? More help: lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Help w/ online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q Note, it is my understanding that these robot interviews are simply being used to weed out students. Also, that does not mean there is anything wrong w/ you if you do not get a face to face and/or onsite interview with a hiring manager. These robot interviews often simply are trying to develop a psychological profile of you & hence the weird questions. Some of these questions might be: what was the first thing you did this morning? Or what would you do if you saw someone bleeding heavily at work? The companies that use these might be trying to see if their corporate culture is a good fit for your profile. So, do not take the results personally, but learn as much as you can & get better at them (because they are not going away).The WMU website below is actually a very good link for that purpose. WMU has a service through Big Interview that has students get real life practice interview that get recorded & submitted. (I believe this is similar to Hirevue). Students can practice with Big Interview & come talk to HCOB advisors. lnkd.in/eKBDsMq How to prep for virtual career fairs: lnkd.in/evKd-VzQ lnkd.in/eNfUzksJ
Interviewing tools: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of ideas. A Top Business School (take a look at the list): lnkd.in/dn9-BCg Being job ready… lnkd.in/ed-ZfanD What do SCM internships pay? lnkd.in/e8pfXtC Delay graduation for experience? lnkd.in/ewKu7b_X 93% of WMU grads are employed or continuing education. lnkd.in/gabdesWa Sample Lectures: lnkd.in/e9j33EQ Follow: lnkd.in/gejqpRrP #careerguide #interviewing #interviewtips #careeradvice
Should we teach Tableau or Power BI or both? In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/eqiqSMRb & lnkd.in/gXYSQKc7. We do our best to go in-depth in all these 3 areas. Based on the feedback received from students, they are interested in learning about all 3 areas & found them helpful during their job search. However, it is not possible to talk about both Tableau & Power BI visualization because of the time limitation. Therefore, we decided to cover Power BI in 1 section & Tableau & Tableau data prep in the other section. As you know, ETL is 1 of the most important skills they need for visualization. Therefore, we always teach Power Pivot a & Query, which are foundations for Power BI in both sections. There are 8 assignments in the class. At least 2 are about Power Query & Power Pivot & 2 about Visualization in Tableau or Power BI. I personally would encourage students to have an open mind on tool usage. The whole reason of teaching both Tableau & Power BI in our curriculum is backed by industry evidence, rather than by 1 or 2 individual companies. Both visualization tools have been in the best quadrant (i.e., leaders-visionaries quadrant) of Gartner’s “magic quadrant” survey for analytics & business intelligence platforms for years. So, it is not true that Tableau is not used at many companies. Kellogg’s (a major local employer), for example, is a Tableau shop. The bottom line is that it really doesn’t matter which tool students learned (as long as there is industry evidence to support the tool selection). The two tools share similarities. Usually one should be able to transition from one tool to another w/ minimal learning. I think one way going forward is probably this: If students already know what tools they are going to be using at the internship or job, they might want to talk to us first before taking CIS 3640. This will help them pick the desired course section. Otherwise, it is hard for us to predict what analytics & visualization tools each student will be using and which company they will end up working. What if you are a student that wishes to learn both Power BI & Tableau, but your instructor only covers 1? Unfortunately covering both in 1 single class will not give either one a fair coverage. In the end, students won’t have good skills in visualization. This is the reason we offer 2 sections, one for each tool. The good news is that Power BI is a free download. Here is what I recommend students do: 1. Download Power BI 2. Go through the video tutorials of Power BI online (e.g., lnkd.in/gEYERYay) 3. Work on class assignments in both Tableau & Power BI. Many things are available in both tools. That makes it possible to replicate certain parts of class assignments in Power BI.
Our students are going into a job market inundated with outdated processes. Manual and labor-intensive operations will force them to spend hours every week doing repetitive tasks that could be automated for much greater efficiency and accuracy, allowing them to focus on more fulfilling work. The majority of their time will be spent gathering data, while much less will be spent analyzing and providing insights to support strategic decision-making. For example, during these inflationary times, it is time for business faculty to start teaching the lost art of Price Analysis and Strategic Cost Management (in very different ways). I have asked a lot of business managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), Commodity Exchange (COMEX), London Metals Exchange (LME), New York Mercantile Exchange (NYMEX), etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process. Surprised by price increases? As much as 70% of current contracts have price increase provisions! In the WMU supply chain management program we teach our students to track commodity forward price curves. We now look at raw material market data from multiple sources, visualize and analyze historical pricing scenarios, and simulate planned purchases and what-if scenarios against forward price curves. How do we better prepare our business students to be job ready day one? Procurement organizations need processes and “tools” to mitigate and negotiate on these price increase requests in a strategic, data-driven manner (and academics need to do a better job of teaching it). Traditionally, we have worked very hard to help our students develop very sophisticated data analytics skill sets to manage these very large and complicated forms of information. Employers place a premium on these business analytics skill sets and would include: Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). See our Business Analytics minor at: wmich.edu/infosystems/academics/analytics However, I would recommend complimenting the above skill sets with bringing in some cloud-based software and technology that gets us beyond manually updating and coding giant colored Excel spreadsheets. For example, I have been collaborating with N-Alpha and they have a cloud platform called materialx that I am bringing into the classroom (n-alpha.com/solutions/decision-support/). It gets us away from manually updating spreadsheets. Further, these technology software companies tend to be very supportive in helping faculty and students as these students will eventually become the future business professionals that actually use the technology (win-win-win, right?). And the technology is out there! We will soon have some white papers from our WMU SCM program based on the following price analysis & strategic cost management research. Some of our alumni are already testing and / or implementing these cloud-based services that allows procurement organizations, finance, and all other organizations that are exposed to raw material pricing changes, to stay on top of market pricing from multiple sources and proactively assess its impact on future raw material purchases. These technologies are also now serving as the basis for addressing price indexing implementations (formulas, alerts, etc.). It can all be done automatically and updated daily, saving hours from manually updating spreadsheets. These tools are quick and easy to use to prepare for price negotiations with suppliers, and often returns its investment (which is minimal to begin with) rapidly. These technologies also allow organizations to replace multiple spreadsheets and email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions and what led to them, and capturing organizational knowledge. I have asked many of my former students what are the most prevalent technologies used in your supply chain and business role. The two most common answers are Excel spreadsheets and email. It is 2023 now and we need to move further along. You could make a strong case that using antiquated business tools was a major source of supply chain disruptions the last few years. My former students keep telling me they are the “Excel Spreadsheet” generation. Excel works and they have very advanced spreadsheet skills. They also tell me that it gives them a competitive advantage in the workplace (i.e., people depend on their monthly report outs per se and very important people read them). The older managers have very weak Excel skills and even the younger graduates coming in have to play catch up to the people that are in their 30s and 40s (that have very advanced Excel skills). My former students also feel very comfortable with Excel. Many of these spreadsheets are their own creation and they find it empowering. In general, it works, it works well, it gets the job done, they feel comfortable with this version of technology while most others do not feel comfortable with it, the technology itself is cheap, and it gives them job security. Some said it took years to build up these spreadsheets, and now they are up and running. However, as I teach my current students, there are alternatives rooted in technology that will allow you to do things better, faster, and cheaper. Final Thought In talking with a colleague, we both agreed that many hiring managers do not have a full understanding of the Artificial Intelligence (AI) skill sets associated with our graduating students. Our business students told us many times that their hiring managers valued only the traditional Excel capabilities (i.e., lookup functions, pivot tables, etc. - however, that is NOT AI). Managers also greatly overlook the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go beyond our Advances Excel and Predictive Analytics courses. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills and managers become more open to embracing the benefits (which might require a culture change). Embracing and trying new technologies requires leadership that is willing to try new things. Otherwise, we keep using spreadsheets and email to manage very large and complicated data sets.
Some 2022 WMU SCM student success stories…1. Dylan Sing is a team player as a student athlete on the WMU men's soccer team & as a SCM major. lnkd.in/ggqPmMyw. 2. SCM student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit. lnkd.in/d5UEQVJV 3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in supply chain management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY 8. Jessy Mutombo: Going the extra mile. lnkd.in/gU_Mag6i 9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ 10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
*2.4M SCM jobs to remain unfilled between 2018 and 2028 *44M people employed in SCM jobs, making up 37% of the job market *A third of current SCM workers have hit retirement age >20,000 jobs on LinkedIn not filled w/ "entry-level supply chain" in job title >35,000 jobs not filled w/ these words- “supply chain” & “analyst” & “data analytics” 113,000 unfilled jobs in Indirect Procurement & > 4K MRO Buyer jobs not filled Supply Chain Data Scientist (>171,000 jobs on LinkedIn - that's all) Supply Chain Finance (>25,000 jobs on LinkedIn - that's all) >10,000,000 (10M) jobs not filled in the U.S., ½ are in SCM
The unique curriculum of the WMU ISM program is the result of integrating supply chain, information technology, continuous improvement and engineering curriculum from five departments across two colleges. Curriculum includes 13 supply-chain-specific courses (43 credits)-more than other well-known programs. Required courses include one dedicated to learning ERP systems and processes by using SAP. All students take Try-Z, an intensive, three-day capstone course in which student teams use Deming’s Plan-Do-Act management cycle. ISM majors are required to obtain professional work experience, such as internships, prior to graduation. Students have an opportunity to obtain a Lean Six Sigma Green Belt by completing an industry project using DMAIC. As of 2019, close to half of ISM majors are Business Analytics Minors (e.g., big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI). Supply chain management major coursework: MGMT 2800-Intro to Supply Management MGMT 3200-Managing ERP Systems (SAP) MGMT 3810-Experiential Live Six-Sigma Lean Problem-Solving (DMAIC & A3) EDMM 3280-Quality Assurance and Control EDMM 1420-Engineering Graphics EDMM 1500/1501-Intro to Manufacturing/Processes and Materials in Manufacturing MKTG 3720-Sourcing and Purchasing MKTG 4630-Supply Chain Logistics MGMT 4640-Production Management and Control LAW 4840-International Business Law or LAW 4860-Marketing and Sales Law (Advanced Contract Negotiation) GEOG 3010-Fundamentals of Geographic Info Systems or EDMM 4870-Manufacturing Productivity Techniques or EM 5120-Management of Service Operations EDMM 4880 or MKTG 4880-Applied Process Reengineering (Try-Z) Minor/Major: Business Analytics (e.g., big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI) Where do students end up? JOB TITLES Supply Chain Specialist Business Services or IS Consultant Global Purchasing and Supply Chain Buyer Procurement Coordinator Strategic Sourcing Commodity Manager Procurement Coordinator Procurement Analyst ORGANIZATIONS Rolls Royce, General Dynamics, Monsanto, BorgWarner, Whirlpool, John Deere, General Motors, GE Aviation, Hormel Foods, Hydro Aluminum, American Airlines, Kellogg’s, Pepsi, Eaton, IBM, JB Hunt, MANN+HUMMEL, Apple, Gentex, Marathon Petroleum, US Army, Coca-Cola, 3M, J.B. Hunt, Parker Hannifin As of 2019, average starting salary is around $62K. Since 2012, the auto and aerospace industries have hired very aggressively. One OEM starts students at $75K.
Also, our new SCM major curriculum is well underway (and now ALL majors can minor in supply chain...all products and services have a supply chain).
Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For a long time, we required a single procurement class & a single logistics class. They simply were not enough as one class left little time to focus on the strategic issues. So, starting in Fall 2023, our SCM majors will be required to take 2 sourcing classes & 2 transportation classes.
The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics $ Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Mgmt Program: MKTG 2750 Global Negotiation SCM 2200 Enterprise Resource Planning Systems SCM 2800 Introduction to Supply Chain Mgmt SCM 3000 Production Planning SCM 3030 Procurement Mgmt SCM 3050 Logistics and Transportation Mgmt SCM 3800 Continuous Improvement Theory & Practice SCM 3810 Applied Continuous Improvement Project SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required) SCM 5050 Strategic Transportation Mgmt CIS 2640 Applied Analytics Foundations Or a minor in Business Analytics lnkd.in/eprKKbF lnkd.in/gp6VX_e3
What skills come with the Business Analytics minor?... 1. Adv Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5 Logistician, $74,750 Logistics analyst, $58,713 Supply chain planner, $64,844 Purchasing agent, $69,600 Purchasing manager, $121,110 Logistics manager, $114,670 Distribution manager, $94,775 Operations manager, $100,780 Business and supply chain competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%. Top two: Microsoft Office and productivity tools Advanced Microsoft Excel Technical skills Among the top and fastest-growing technical skills are: Data science Supply chain knowledge Supply chain management Project management Many of our SCM students get a Business Analytics minor, what does that mean? See: 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j From me: AI will have a great impact on SCM. However, one thing often not mentioned is the attitude of hiring managers, as many do not have a full understanding of the AI skill sets of graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities (lookup functions, pivot tables, etc. - that is NOT AI), & they greatly overlooked the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go BEYOND our CIS 2640 (Excel on steroids) - Applied Analytics Foundations. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills & managers (SCM Leaders) become more open to embracing the benefits (which might require a culture change). #supplychain #dataanalytics #datascience #python #artificialintelligence #ai
Updated on Dec 13, 2023 : “Salary.com cite a median salary of $160,147 in the US, while Indeed lists an avg salary of $91,223. The job growth rate for logisticians is high, at 28% between 2021 & 2031. Compared to the job outlook for all occupations which is at 5.3%, that is a promising figure for aspiring supply chain managers.” www.coursera.org/articles/supply-chain-manager-salary Education “Attaining higher education typically yields higher pay. For supply chain managers, a bachelor’s degree at minimum is recommended. Zippia reports that 70 percent of supply chain managers have a bachelor’s degree, while 17 percent have a master’s degree, and 9 percent have an associate degree. Only 2 percent have just a high school diploma....With the following education, you can expect to earn this amount as a supply chain manager: · Associate degree: $92,543 · Bachelor’s degree: $108,240 · Master’s degree: $118,982 · Doctorate degree: $124,654
Nice SCM salary report summary: lnkd.in/gtXUfBJg Great read. Wow…”For the 2nd year in a row, a mere 19% of professionals are highly likely to encourage their child or the child of a close friend to pursue a career in transportation or logistics. When asked why they would not recommend a career in logistics and transportation, participants cited concerns about career progression, work-life balance, salary prospects, and industry volatility.” See: lnkd.in/gU2vEA6Q hashtag#salary hashtag#supplychainmanagement hashtag#logistics hashtag#careers
Graduate Program Salary & Placement Trends Salary: • Supply chain MBA average salary is $91,949, up from $88,935, in 2018 • MSSCM average salary is $85,879, up from $83,066 • Top ten schools → MBAs average well above $100K; many MSSCMs also Placement: • 45% of students are already employed and plan to continue to work for their employer post-graduation • 42% secure a new job prior to graduation and 18% were employed by three months after graduation (average totals will exceed 100%) If you lack these skills, go get your MS in Data Analytics before you miss the boat. These skills would include: big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI, etc. Fortunately, most of my undergrads walk away with these skills. Just like AI, the boundaries of what is and what is not Industry 4.0 (supply chain 4.0, digital transformation, digitized supply chain, etc.) is quite blurry. These days any product with even a tiny element of AI/ML is claimed to be an AI product. Note, most mini MBA’s have an entire course dedicated to SCM Finance. Good luck climbing up the corporate ladder if you cannot talk to your CFO. I like SCM Finance so much, I encourage my students to get a graduate degree in Finance if they already have world class technology skills & a SCM background. If SCM professionals lack Finance skills, they will hit a ceiling professionally: th-cam.com/video/sRl2O5YI2h8/w-d-xo.html This is a great read that helps explain why a Finance graduate degree might make sense for a SCM professional: Great read: www.ismworld.org/supply-management-news-and-reports/news-publications/inside-supply-management-magazine/blog/2021/2021-01/the-monthly-metric-cash-flow-from-operations/
Effective in February 2023, CPIM will be reconfigured under version 8.0 moving from two courses & two exams to one. Students: 3 supply chain orgs you can join (ISMworld.org-$35, CSCMP.org, $40 & ASCM.org for free!). SCM pros w/ at least 1 APICS cert have a median salary of $90K, which is 27% higher than those w/o a cert. (according to the 2021 Career Report). lnkd.in/eTfdkA94 I would highly encourage you to join orgs related to what you are majoring in. Send the message to employers that you plan on being an engaged member of your discipline. Also, these orgs have certs which can be used to externally validate you as a subject matter expert. Send the message to employers that you are aware of these certs & these certs are a part of your career goals. Further, all these SCM orgs have monthly local chapter meetings w/ guest speakers that you can attend as a student. It is a great way to learn & network. I have had several students attend these mtgs & managers asked for a copy of their resume because these students showed so much initiative. You will also have access to their websites which has job postings & lots of SCM research that will help with your classes. Lastly, they will mail you magazines that tell you what is happening in your field so you can stay current.
My colleagues helped me put this list together for my non-supply chain majors. Industry Certifications & Associations for Various Business Majors: lnkd.in/gVbQV2q7 Here is one of the most popular orgs related to your major (especially if you go into procurement, though all 3 orgs have become very well rounded)...
Institute of Supply Mgmt (used to be National Association of Purchasing Mgmt)-$35/year lnkd.in/ex3NXgdM lnkd.in/erPSEX_J
Also: Here is another degree related org that you can join ($40) to network & look for job opportunities. You will be competing against other students from other schools that have these on their resume. Council of Supply Chain Mgmt Professionals (used to be the Council of Logistics Mgmt) lnkd.in/emHHiJAY One more high profile club for SCM students & managers (free for students): The Association for Supply Chain Mgmt (used to be APICS, the Association for Operations Mgmt) www.ascm.org/ lnkd.in/eC3sfQxK lnkd.in/ef8X2xPK Certified in Logistics, Transportation & Distribution (CLTD): lnkd.in/dt3EteBd
12 Tips/advice from a college professor (me): 1. Read. People that read a lot make more $ (2.3 times more?!) lnkd.in/ggBDzJrp 2. Learn the job saving technologies (i.e., data analytics). lnkd.in/eu7ANq6 3. Learn to interview well (i.e., STAR). lnkd.in/ePzz3NG and lnkd.in/eZgTxWc How to prep for virtual career fairs: lnkd.in/evKd-VzQ Being job ready… lnkd.in/ed-ZfanD 4. Learn to negotiate ($). lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu 5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR lnkd.in/dAwyTUy For details on how to build your brand: lnkd.in/dSAA6wF 6. Delay graduation for experience. lnkd.in/ewKu7b_X 7. Learn to problem solve - lnkd.in/eWaJ8q2 8. Double Major? lnkd.in/gAViGTVG 9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty 10. Job rotations? lnkd.in/ervskG5 11. 10 college majors that earn the most money: lnkd.in/gEXGmFfU 12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ
11 trendy things we are doing in the WMU ISM supply chain program… 1. Global Negotiation: The fastest growing class in the WMU ISM program - lnkd.in/guTUcvdu ___ 2. Getting hit with a price increase? We will be looking at raw material market data from multiple sources, we will visualize and analyze historical pricing scenarios, & do some simulating on planned purchases & what-if scenarios against forward price curves. Managers love this cloud platform. lnkd.in/gJnbxSBk ___ 3. We use LLamasoft - which is now part of Coupa. The software, called Supply Chain Guru, is used as a network design software to build, model, & test the “best” supply chain networks based on total cost & customer demand. Additionally, students have access to Coupa’s online learning platform where we use various SCM learning modules to enhance class learning. ___ 4. Through a hands-on ERP/SAP software configuration project, students learn how information tech can help a firm manage its business processes. Mgmt issues associated w/ implementing & managing ERP systems, such as project mgmt, configuration control, training, system testing & change mgmt, are explored. ScrimmageSim is also used & is a simulation that is designed to operate like a real company’s ERP system. ___ 5. Students continue to get professional work experience during covid w/ “A3” & “DMAIC” projects. Problem solving has kept moving up & is now #1 as the most sought after skill set by employers! lnkd.in/g_nGqv-u ___ 6. Fall 2022: We will be offering Lean Six Sigma Continuous Improvement Certifications to undergrad supply chain students in our capstone Applied Process Reengineering class. ___ 7. We teach Indirect Procurement from an industry standard that we helped create. 113,000 unfilled jobs in Indirect Procurement on LinkedIn, & > 4,000 MRO Buyer jobs not filled! lnkd.in/gFrGvpCA ___ 8. We teach ArcGIS Pro technology & other SCM risk tools such as FMEA. lnkd.in/ghC4p2hP and lnkd.in/eGtJhvRy ___ 9. Why do our grads interact so well w/ engineers? We make them take engineering classes. lnkd.in/gf7q_3PF ___ 10. SCM+NPD=Competitive Advantage. WMU has one of the best Product Design Programs in the world & ISM is going to collaborate w/ the program’s transdisciplinary approach to incorporating product design w/ engineering & business principles (i.e., SUPPLY CHAIN MANAGEMENT). lnkd.in/gvdUGFvC ___ 11. And of course, Business Data Analytics: *Advanced Excel (power query & power pivot) & macros *Data visualization (Tableau, Power BI and python with seaborn & matplotlib) *Data mining, machine learning & data science *Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy) *Relational data models (Excel data model) *Graphic & statistical libraries (Seaborn, Matplotlib, Pandas,& Plotly) lnkd.in/gf_UWz5x lnkd.in/gKV4dw2z lnkd.in/gHnUrVZz lnkd.in/g9pgFErz
Still feels like a seller’s market for my students. The 10 fastest-growing jobs in the U.S. right now-many pay over $100,000 a year: lnkd.in/g7TNMeja. From Gartner 2022 (2 yrs ago data):
Starting salaries for students in supply chain roles also increased. In terms of compensation, U.S. SCM undergraduates finding their first jobs in supply chain roles are earning about $1,600 more per year than in 2020. While the average starting salary is $61,769, graduates from the top 10 programs can expect around $65,000. The highest salary from the ranked schools was $80,000.
Well, that avg now is closer to $70K. Also, we just had a student get offered $87K, no job rotation (straight into a full time role as she is already loaded with work experience), $8,700 signing bonus, and immediately bonus eligible at 9%.
I talked to one student in the Fall that was given a job offer in Sept. (one month to decide) & he accepted. Yes, he had a summer internship with them. He is a SCM major w/ a Data Analytics minor. $72K base, $14K in relocation, 20% of base bonus eligibility, 4 weeks paid vacation, & a 3 year job rotation (3 jobs in 3 years, and he gets to choose the locations - further, they encouraged him to pick areas outside of his major such as Finance, Engineering, etc., so that he could learn new things & become more cross-functional). Under most circumstances I would encourage my students to negotiate something, but what is there to negotiate lnkd.in/gkmB6BQa. Exploding job offers and job rotations: lnkd.in/gSYZ_PBD lnkd.in/gZQRfZmr lnkd.in/ervskG5 What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g8cAcBh3. The jobs paying six figure salaries to help lead supply chain disruptions: lnkd.in/gU9VhJEG. lnkd.in/g8n-dCz2
If you want to specialize in data & become a Supply Chain Analyst (25,000 jobs on LinkedIn) / Supply Chain Data Scientist (171,000 jobs on LinkedIn - that's all), Python is a must-have skill. A while back, I made these points about our CIS 2650 class (Programming for Data Analytics) and our Business Data Analytics minor in general. Do these points still largely apply?… CIS 2650 is not just a Python class, but instead a Python class for analytics. There is a difference there. In a traditional Python class, people teach Python straight for the whole semester with so much of syntax, data structure, software development, etc. That type of class is mostly designed for CIS and CS. What we do is different. It is Python in a popular analytics platform (more technically speaking, it is Python in Jupyter, which is an analytics platform that data science and business analytics programs do). · We studied the top skills in analytics jobs & Python was among the top skills. · The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools. · Tableau & Power BI recently added Python or Python+Jupyter because certain Python analytics & visualization are not available in Tableau and Power BI. Using them together makes it a powerful analytics solution (e.g., the ability to transform visualization into implementable actions). · All data scientists stress the importance of Python in analytics programs. Note, “data scientist” is one of the fastest growing career paths with escalating salaries because not enough people are good at this stuff. · Python are “R” are both number one & two in analytics, but Python is easier to learn compared to R. · Past experience in our SCM program (3+ semesters of experience in CIS 2650) shows that non-technical students (SCM, marketing, accounting, etc.) are able to handle the content that we designed. · Python + Jupyter (or its variant) are used in Big Data (Hadoop, Microsoft Azure, Amazon AWS, etc.). It can also be used with/on SAP HANA, IoT, AI, Blockchain, and smart contracts to implement supply chain visibility, and other SC related solutions, etc. We believe the above points are still valid. Here are some evidences: · We studied the top skills in analytics jobs & Python was among the top skills. · Python is among the top skills for data analysts (Skill number 4 in the list): lnkd.in/e6r8_KBy · lnkd.in/e7xyUYGs · The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools. How much Python do I need to know in order to excel in SCM? lnkd.in/e6Rmzpw Will technology replace supply chain jobs? lnkd.in/eu7ANq6
Python is coming to Excel?!…Wow, as a supply chain professor that pushes data analytics on our students, I am trying to make sense of this. I suspect this is going to be a VERY big deal for our CIS faculty and students as they have been waiting for this kind of support for…2 decades? While Excel is powerful, it hasn’t provided “native” tools for adv analytics like ML. By integrating Python - a language known for its rich libraries in data science - Excel could be considerably enhanced. If they bring in scikit-learn, statsmodels, etc., this will become a reality, as they both are popular Python libraries used extensively in the fields of data analysis, statistics, and machine learning. Announcing Python in Excel: Combining the power of Python and the flexibility of Excel: techcommunity.microsoft.com/t5/excel-blog/announcing-python-in-excel-combining-the-power-of-python-and-the/ba-p/3893439 I do wonder, if the Python code is going to be run in the Microsoft cloud, what will the pricing structure look like? By integrating cloud-run features, MSFT could introduce new pricing structures, potentially influencing the adoption rate of these new features. The way MSFT structures its pricing for cloud-run Python code will be a significant factor in the adoption rate. Orgs might be cautious if the costs are perceived to be high. The next milestone we should be watching for is whether the Python code can be run on-premise or a local machine. The ability to run Python code locally vs. on the cloud would influence the adoption and usage of these features. Running code on-premises can often be essential for businesses w/ data security concerns. Technically, it is possible since the partnership is with Anaconda. Anaconda is a popular Python distribution platform that provides tools for data science and machine learning. The mention of a partnership with Anaconda suggests that the integration will not just be basic Python scripting but may offer more advanced features. It is just whether Microsoft is willing to do that at the expense of sabotaging their existing market of their decades old VBScripting language. There is a potential conflict of interest for Microsoft. VBScript (and more broadly, VBA) has been the primary scripting language in Excel for decades. By integrating Python, Microsoft may be shifting away from its longstanding support for VBA, which might not sit well with longtime users. However, it’s also possible that Microsoft might maintain dual support for both languages for a while to ease the transition. More thoughts at: www.simecurkovic.com/2023/08/23/python-is-coming-to-excel/
The 16 worst-paying college majors, five years after graduation: lnkd.in/eTyx7YpW. But…If You Majored in One of These 18 Subjects, You’ll Likely Have a Comfortable Retirement: lnkd.in/e2nireWR. Notice SCM made the list: #5. Supply Chain (Logistics): $52,290. Note, WMU SCM grads (2022) had a median wage range of $65-$75K. lnkd.in/dkGr4_uX. I have been trying to explain SCM to high schoolers. It’s not that easy. Parents like to see this: the number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022: lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review: lnkd.in/gbV_aMT7. “Employers are fed up with college 'waste,' opt for skilled blue-collar workers instead”…Really? lnkd.in/gR5pNeDe.
Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu.
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch.
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2 & lnkd.in/gH3jSWKt.
90% of 2023 graduates think college is really worth it. lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Professional experience that pays well while in college?...Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gR5pNeDe.
Goals of an internship (it’s not job shadowing): lnkd.in/gMtdr92u.
If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well: lnkd.in/g8n-dCz2
Reads… How should companies use competitive bidding? lnkd.in/gS9vCRQ6 Assume a supplier estimates the following costs on an RFQ lnkd.in/gxFBz3_U
ROI and Your Core Competency (i.e., SCM?) lnkd.in/euh2rFdU To stay competitive, companies are forced to outsource commodities and focus on their core competency lnkd.in/g-DHtt8X
The primary elements for sourcing a supply partner lnkd.in/ga2xtDsi
What does it mean to be hollow? Sourcing Strategy matters! lnkd.in/gHB-nzeJ
The most reprinted article in the Harvard Business Review: The “Core Competence” Article lnkd.in/gDsHme-r You have every legal right to say you want a “cost breakdown” lnkd.in/gygd5bzs Procurement 101: Explanation on Commodities lnkd.in/g_nEgvhJ
How do companies outsource strategically? lnkd.in/gevbRKEq
POs & Advanced Contract Mgmt: lnkd.in/gcpHEEvw How SCM managers “prepare” to negotiate price increases. lnkd.in/gVrdpuer Hundreds of SCM Blogs… lnkd.in/e5zG6sZ lnkd.in/g9_XQdaG
“Nearly 20% of employers said they've even had a recent college grad bring a parent to an interview...Half the respondents blamed parenting, 48% said the COVID pandemic is the culprit, & 46% said EDUCATORS are the root of the problem." Ouch! Many college grads struggle to land jobs due to a lack of preparedness, study finds www.foxbusiness.com/lifestyle/college-grads-struggling-land-jobs-lack-preparedness-study-finds “One in five employers reported that recent college grads are generally unprepared when it comes to interviewing for a job. More than half of employers surveyed said Gen Z candidates struggle the most with eye contact during interviews. Candidates in this age group also ask for unreasonable salaries and have dressed inappropriately for in-person interviews. Even virtual interviews have posed issues, with 21% of employers reporting that some candidates refuse to turn on their cameras for the interview.” Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. My thoughts: lnkd.in/gEZF6prG.
Here’s what a lot of college grads don’t know about their first job offer: lnkd.in/gG2DeF2h. “Just 38% of new grads negotiate w/ their employers when they get that first job offer.”
Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gdvDK7TQ
Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gQnHZd9Y.
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. More from Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE & lnkd.in/gC44Baeb. MIT: lnkd.in/g3xqeDyc. Kansas State: lnkd.in/gPNgpmKA. Western Michigan University: lnkd.in/gipsXEsK. This is a very good one from UNC Pembroke: lnkd.in/gJA3uub2.
Students looking for internships/jobs: I actually have employers tell me they will NOT consider a student if they do NOT have a strong professional LinkedIn presence...How to effectively join LinkedIn: lnkd.in/gXYFDjXY.
The Pandemic Generation Is Taking Its Supply-Chain Lessons to School: www.wsj.com/articles/the-pandemic-generation-is-taking-its-supply-chain-lessons-to-school-45f0f8df?st=35pr6ua8xvr9pkb&reflink=desktopwebshare_permalink Also, "Readying the Supply Chain Workforce": lnkd.in/eVdi-Eyk. Educators reveal how they’re preparing future supply chain management professionals for growing complexity and advancing technology... Top 12 Skills to Develop For a career in supply chain management, these proficiencies top the list, combining both tech savvy and soft skills. 1. Communication skills 2. Critical thinking 3. Problem solving 4. Data analytics 5. Domain knowledge-understanding supply chain dynamics 6. Teamwork-ability to work in teams and collaborate 7. Technological proficiency 8. Relationship building and management 9. Project management 10. Adaptability 11. Negotiation skills 12. Global perspective ___ WMU SCM Program: Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For a long time, we required a single procurement class & a single logistics class. They simply were not enough as one class left little time to focus on the strategic issues.
WMU Supply Chain Management Program: MKTG 2750 Global Negotiation SCM 2200 Enterprise Resource Planning Systems SCM 2800 Introduction to Supply Chain Management SCM 3000 Production Planning SCM 3030 Procurement Management SCM 3050 Logistics and Transportation Management SCM 3800 Continuous Improvement Theory & Practice SCM 3810 Applied Continuous Improvement Project SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required) SCM 5050 Strategic Transportation Management CIS 2640 Applied Analytics Foundations Or a minor in Business Analytics
What skills come with the Business Analytics minor?... 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics Salary Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Management Program: lnkd.in/eprKKbF lnkd.in/gp6VX_e3 AI will have a great impact on SCM. However, one thing often not mentioned is the attitude of hiring managers, as many do not have a full understanding of the AI skill sets of graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities (lookup functions, pivot tables, etc. - that is NOT AI), & they greatly overlooked the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go BEYOND our CIS 2640 (Excel on steroids) - Applied Analytics Foundations. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills & managers (SCM Leaders) become more open to embracing the benefits (which might require a culture change). CIS 4640 - Business Data Mining This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. Specifically, it covers several types of modeling techniques & tools such as prediction, classification, segmentation & association detection algorithms. Students are introduced to the state-of-the-art data mining applications software such as SAS Enterprise Miner or SPSS Clementine for their class assignments & term project. “Consulting firm McKinsey projects a supply-chain shattering event will happen every 3.7 years, on avg. Since the pandemic started approximately 2.5 years ago, the clock is ticking…” *orgs utilizing AI spend less on processing & require 53% fewer transactional FTEs than companies w/o AI. *Contract Analytics: Gartner - by 2024, the current amount of manual effort for contract review will be reduced by 50%. *Estimated 80% of supplier-related data is unstructured or “dark data.” *Gartner: nearly 45% of orgs have either already implemented AI From Dr. Handfield: “These [semiautonomous] processes will draw on supplier rating systems, meeting notes, customer input, social media, legal filings, news feeds, employee & customer data, economic indicators, weather data, & multiple forms of data that can be mined to provide alerts that trigger procurement actions & supplier mgmt activities.” lnkd.in/g3bCXtDF. Learn - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). Grad Cert: lnkd.in/gJetuSjB
Ready to make over $70K/yr. upon graduation & over $100K by age 30 (& change the world)? Let’s get started. WMU Integrated Supply Management (ISM)...Nation's best undergraduate SCM program (Gartner 2014); 2nd in SCM technology (SoftwareAdvice 2015); 2nd in top global SCM talent (SCM World 2017) Learn more about Western Michigan University’s top supply chain program at: www.wmich.edu/supplychain E-Mail: sime.curkovic@wmich.edu
Program Major Credit Hours (twice most other programs): Integrated Supply Management, Western Michigan University 43 Supply Chain Management, Arizona State University 21 Supply Chain Management, Michigan State University 18 Supply Chain Management, Penn State University 24 Supply Chain Management, University of Texas, Austin 21
“Half our member respondents (50%) said they would take a “Data Analytics” class to continue their growth as supply chain leaders. Second on the list was taking a “Finance” class (33%).” lnkd.in/eEEVhWEX. “Knowledge workers were the hardest positions to fill. With the explosion of data in supply chains and the richness of that data, many companies are starting to understand the value of that information. This is causing tremendous demand for people to analyze the data, and companies aren’t able to fill those roles.” lnkd.in/eGp6xXJG. Do not be a victim of technology. You could make the case that every Business major should minor in Data Analytics. These skill sets would perhaps include: lnkd.in/dQABdsXc Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). lnkd.in/dtqV-HqE. Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical. lnkd.in/gBPZJsVq lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT. hashtag#supplychain hashtag#finance hashtag#bigdata hashtag#cfo hashtag#dataanalytics
Tips/advice from this college professor (aka, educated idiot): 1. Read. People that read a lot make more $ (2.3 times more?!) lnkd.in/ggBDzJrp 2. Learn the job saving technology. lnkd.in/eu7ANq6 lnkd.in/gE3wp6JU 3. Learn to interview well. lnkd.in/ePzz3NG and lnkd.in/eZgTxWc How to prep for virtual career fairs: lnkd.in/evKd-VzQ Being job ready… lnkd.in/ed-ZfanD 4. Learn to negotiate ($). lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu 5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR lnkd.in/dAwyTUy lnkd.in/gFa3iCsg 6. Delay graduation for experience. lnkd.in/ewKu7b_X 7. Learn to problem solve - lnkd.in/eWaJ8q2 lnkd.in/gSVTKmwC 8. Double Major? lnkd.in/gAViGTVG lnkd.in/gqAE9u8W 9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty lnkd.in/gA9KH-Ff 10. Job rotations? lnkd.in/ervskG5 11. 10 college majors that earn the most money: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU. 12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ lnkd.in/gsKyJ9rn 13. Get certified as a subject matter expert: lnkd.in/g3yfkvQr lnkd.in/gVbQV2q7 14. Learn to talk CFO talk: lnkd.in/gtve9xTM Recent WMU SCM student success stories… 1. Finding a team: Dylan Sing’s future in supply chain management Dylan Sing is a team player as a student athlete on the WMU men's soccer team and as a supply chain management major. lnkd.in/ggqPmMyw 2. Integrated supply management student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit. lnkd.in/d5UEQVJV 3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in integrated supply management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY 8. Jessy Mutombo: Going the extra mile lnkd.in/gU_Mag6i 9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ 10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
Newer Supply Chain Salary Data. Avg salary $144,017 (2021: $131,771): lnkd.in/gESQFNZa - 2022 salaries are up across the board. On avg, supply chain pros are making $126,215/yr, an increase from $112,779 in 2021, but on par w/ 2020’s avg of $126,475. The median salary in 2022 is now $108K. 20% earn $150K - $249,999/yr, while 16% earn $120K -$149,999. 12% earn between $90K-$99,999, & 10% earn $100K-$119,999. At the higher end of the scale, 9% earn more than $250K/yr. For details, see: lnkd.in/gbumc4Wb www.linkedin.com/posts/sime-curkovic-61617a115_demand-for-supply-chain-talent-has-never-activity-6948229678465765376-VLXb? "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, nearly three-quarters (72%) saw a boost in their total compensation in the past year." lnkd.in/gESQFNZa & lnkd.in/gW-U-KHK & lnkd.in/gJquYyT4 SCM $ Information - 2021: lnkd.in/gpMvehY5 2021: lnkd.in/gn5jM9xt 2020: lnkd.in/gcsrX6tr 2018: lnkd.in/gTBMP5dM lnkd.in/eQvfFMc lnkd.in/g7YamZCU Placement success of ISM Program - *Median salary was $60K-65K (10% of grads hired on w/ 1 auto OEM at $78K!). lnkd.in/gV4x6GWE Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. "$ in SCM are going up & avg $10-20K higher than entry-level positions in other fields." lnkd.in/deYpduqZ Should current students negotiate an INTERNSHIP offer? The avg SCM internship is $44,918/yr, or $21.6/hr. People on bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84 JOB SECURITY? U.S. News recently predicted that SCM jobs would expand by 25% w/i 10 years & identified SCM as one of the “20 Best Business Jobs.” SCM is also included in lists that rank top career fields for women (lnkd.in/gKF3-iXu.) "...it’s clear that SCM professionals are poised to become the most powerful executives in the world..." CEOs Will Come from SCM? lnkd.in/eGb9u-3 and lnkd.in/gVC7TNCT 10 college majors that earn the most: lnkd.in/gEXGmFfU MBA graduate can expect to earn $3 million more than someone with only a bachelor’s degree. When is the right time for grad school? Avg age is 33. lnkd.in/gka9Qqmg Laundry list of $ reports: lnkd.in/d4_bYNF lnkd.in/gzM6ZtaC lnkd.in/gakfzs6r lnkd.in/gv4SmiWB lnkd.in/gFvMk35E lnkd.in/ghZpE-rR lnkd.in/gJuGinEi lnkd.in/e6K8NNhg lnkd.in/g-4qtPMz lnkd.in/gHPHHA3p lnkd.in/gd5PJD_6 lnkd.in/gYB7qt7F lnkd.in/gu_SDNEf lnkd.in/gPxfuGUZ lnkd.in/gYq5SMMc $: lnkd.in/g8sN6tqZ lnkd.in/gt_vDR9c lnkd.in/gNbVwX-s lnkd.in/g_m_6jA2 #salary #salaryguide2022 #salarynegotiation #supplychain
Tools for Job Searching: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of great resume ideas & career resources. FYI, below are Harvard’s ideas for a great looking resume (20 pages): lnkd.in/gvywrPxM lnkd.in/g9_svxC5 Personally, I prefer WMU’s Career Services manual. Also, WMU HCOB/ISM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). Keep in mind that many schools such as Harvard ($54K/yr tuition), Yale ($58K/yr), & Stanford ($57K/yr) don't offer undergraduate business degrees. WMU ($13K/yr) - A Top Business School (take a look at the list here): lnkd.in/dn9-BCg ___ Virtual career fairs: lnkd.in/evKd-VzQ Business externship? lnkd.in/e9aeewPa Placement success of ISM Program - *Median salary was $60K - $65K (around 10% of grads hired on w/ 1 auto OEM at $78K!). "Supply Chain"+"Degree"=jobs & $$. lnkd.in/gV4x6GWE Will technology replace SCM jobs? lnkd.in/gX8vcRNa Global Negotiation: Fastest growing class. lnkd.in/guTUcvdu A Top School: lnkd.in/dVdMRXP WMU: *No. 1 in Michigan for earnings by graduates* Sample Lectures: lnkd.in/e9j33EQ "WMU ISM...Nation's best undergraduate SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World)" Power BI or Tableau? Do not be a victim of technology. lnkd.in/eKEaPGq lnkd.in/e5zG6sZ Here is a good read on how SCM 4.0 does not have to be super expensive: lnkd.in/eyebnSct lnkd.in/ekhu3YHA - Yes, WMU has one of the best business colleges in the world. How much Python do I need to know in order to excel in SCM? lnkd.in/e6Rmzpw STAR job interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Effectively join LinkedIn lnkd.in/dAwyTUy Myers-Briggs. lnkd.in/ehj3ysR For details on how to build your brand: lnkd.in/dSAA6wF Similar to MBTI: lnkd.in/ey4TEUY lnkd.in/exNDhSv Help with online interviews...lnkd.in/eKBDsMq Practice before it really matters...lnkd.in/ekaBK5Q 3 supply chain orgs you can join lnkd.in/eTfdkA94 Also, resume advice for SCM majors... lnkd.in/eWen96qj lnkd.in/e7utipBi lnkd.in/eVEHgvk6 Internships, salary data, interview info, etc. lnkd.in/eNfUzksJ Being job ready in the covid market… lnkd.in/ed-ZfanD FYI: What do SCM internships pay? lnkd.in/e8pfXtC Delay graduation for work experience? lnkd.in/ewKu7b_X Right time for grad school? lnkd.in/eTk-PXPv Predictive Data Analytics (Excel)…lnkd.in/dQABdsXc A lot of coding in SCM? lnkd.in/eQgH3YY2 Problem solving is now the #1 skill set! See Elon's resume - lnkd.in/eWaJ8q2
Thank you Hire Lily for the supply chain salary data, & also your Insights: lnkd.in/gSYKjixY. Also from ISM: Both women’s & men’s compensation fell in 2021. From ISM: lnkd.in/g2dVpbeK & lnkd.in/gHMUSv_s. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. 2020 $ (before covid): lnkd.in/gz8WQEhr. 2018 $: lnkd.in/gV53aggX. Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr. FYI from 2019:lnkd.in/grttnhZm 2018: lnkd.in/gTBMP5dM Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. www.linkedin.com/posts/sime-curkovic-61617a115_more-supply-chain-salary-data-activity-7019631483912929280-eNkC?
Advice from this college professor (aka, educated idiot): 1. People that read make 2.3x more: lnkd.in/ggBDzJrp 2. Learn job saving technology. lnkd.in/eu7ANq6 & lnkd.in/gE3wp6JU 3. Learn to interview well. lnkd.in/ePzz3NG and lnkd.in/eZgTxWc How to prep for virtual career fairs: lnkd.in/evKd-VzQ Being job ready… lnkd.in/ed-ZfanD 4. Learn to negotiate ($). lnkd.in/gMJYNJkh & lnkd.in/guTUcvdu 5. Network & use LinkedIn. lnkd.in/gPZPQtqR & lnkd.in/dAwyTUy & lnkd.in/gFa3iCsg. 6. Delay graduation for experience. lnkd.in/ewKu7b_X 7. Learn to problem solve - lnkd.in/eWaJ8q2 & lnkd.in/gSVTKmwC. 8. Double Major? lnkd.in/gAViGTVG & lnkd.in/gqAE9u8W. 9. Get a grad degree? Earn $3M more. lnkd.in/g5FY5aty & lnkd.in/gA9KH-Ff. 10. Job rotations? lnkd.in/ervskG5 11. 10 college majors that earn the most $: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU. 12. Tool for calculating degree ROI: lnkd.in/gEPwNSTJ & lnkd.in/gsKyJ9rn. 13. Get certified as a SME: lnkd.in/g3yfkvQr & lnkd.in/gVbQV2q7. 14. Learn to talk CFO talk: lnkd.in/gtve9xTM.
www.simecurkovic.com/ The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022 (per The Financial Times). The U.S. supply chain accounts for 37% of all domestic jobs (per Harvard Business Review). Supply chain pros are making an avg of nearly $30K more/yr than the avg American, & are generally happy in their careers (per ASCM)...WMU SCM grads have a median wage range of $65-$75K.
www.simecurkovic.com/posts-page/ www.simecurkovic.com/membership/ - Supply chain knowledge for everyone. Explore, learn, & connect - Do your job better, faster, & cheaper - Join my network to reach thousands of SCM students, faculty, & professionals - Hot Market: Over 25,000 SCM internships and > 250,000 full-time jobs Join to get access to endless current SCM content and job postings. Bring your SCM needs and questions, and I will provide you with timely and thorough feedback. If you join our growing community today, you will have access to Sime Curkovic’s expertise through blog posts, articles and videos. You’ll also gain access to Dr. Curkovic for one-on-one advice. Dr. Curkovic (please do not call me Dr.) has more than 30 years experience working to shape the future of SCM professionals. Check out this intro lecture (>217K views). Have access to > 50 hours of timely SCM content with > 4,400 TH-cam & > 20K LinkedIn followers, & thousands of views daily.
Yes, AI will take notes for college students (but you still have to study the notes). This college professor spills 6 secrets that every freshman should know: lnkd.in/gseeR7qe. Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that. StudyFetch Launches AI Study Tutoring Platform to Help Students Succeed: lnkd.in/gFEKMwKm. See it in action: lnkd.in/gZsDhswy lnkd.in/gcRk9BQC lnkd.in/gjwpNrsb In case you want to see what we cover in our AI course, see the screenshot below. We are expanding this list in spring. Our analytics faculty are on top of this AI wave. They have already built an AI course in our business college (CIS 5550) to cover all kinds of AI for business applications. After this course, AI embedded modules in existing courses will be added. See: lnkd.in/gwHynAZB
Students: Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3. Prepping for a job interview? Here's how to answer 'What is my biggest weakness?' Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gMtdr92u. hashtag#study hashtag#ai hashtag#artificialintelligence hashtag#college hashtag#supplychainmanagement
Hundreds of SCM Blogs… lnkd.in/e5zG6sZ lnkd.in/g9_XQdaG Reads… How should companies use competitive bidding? lnkd.in/gS9vCRQ6 Assume a supplier estimates the following costs on an RFQ lnkd.in/gxFBz3_U
ROI and Your Core Competency (i.e., SCM?) lnkd.in/euh2rFdU To stay competitive, companies are forced to outsource commodities and focus on their core competency lnkd.in/g-DHtt8X
The primary elements for sourcing a supply partner lnkd.in/ga2xtDsi
What does it mean to be hollow? Sourcing Strategy matters! lnkd.in/gHB-nzeJ
The most reprinted article in the Harvard Business Review: The “Core Competence” Article lnkd.in/gDsHme-r You have every legal right to say you want a “cost breakdown” lnkd.in/gygd5bzs Procurement 101: Explanation on Commodities lnkd.in/g_nEgvhJ
How do companies outsource strategically? lnkd.in/gevbRKEq
POs & Advanced Contract Mgmt: lnkd.in/gcpHEEvw How SCM managers “prepare” to negotiate price increases. lnkd.in/gVrdpuer
Great read: lnkd.in/gCiYgwS2 - "Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields." Quickest way to six figures? Answer: SCM - lnkd.in/guSURWFF. Note, there are hundreds of open unfilled supply chain internships in Michigan (5,000+ nationally). See postings in MI: lnkd.in/gVsHEZxz What are they looking for? SCM majors. Perhaps delay graduation for work experience & stay specialized... lnkd.in/gdr7f9wb The placement success & starting salaries for WMU ISM is off the charts. *Median salary for all WMU ISM degrees was $60K-$65K (around 10% of grads hired on w/ one auto OEM at $78K!). "SCM" + "Degree" = jobs & $$. lnkd.in/gV4x6GWE There are > 20K jobs on LinkedIn not filled which have the words "entry-level supply chain" in the job title. "SCM"+"Data Analytics"=jobs & $$. There are > 35K jobs on LinkedIn not filled which have these words in the job title and/or job description - “supply chain” & “analyst” & “data analytics”. lnkd.in/dQABdsXc There are >10M jobs not filled in the U.S., many of which are in SCM. In fact, if you loosely define SCM, around half these jobs are in SCM. "Only" 113K unfilled jobs in Indirect Procurement on LinkedIn, & > 4K MRO Buyer jobs not filled. lnkd.in/gFrGvpCA SCM Data Scientist (>171K jobs on LI- that's all). Our Business Data Analytics minor: lnkd.in/gf_UWz5x lnkd.in/gKV4dw2z lnkd.in/gHnUrVZz lnkd.in/g9pgFErz SCM Finance (>25K jobs on LinkedIn - that's all). lnkd.in/gE9gVG34 A SCM undergrad degree creates many benefits beyond employment, but it never hurts to get a bit of educational ROI either! _ JOB SECURITY? U.S. News recently predicted that SCM jobs would expand by 25% w/i 10 years & identified SCM as one of the “20 Best Business Jobs.” SCM is also included in lists that rank top career fields for women (lnkd.in/gKF3-iXu.) "...it’s clear that SCM professionals are poised to become the most powerful executives in the world..." CEOs Will Come from SCM? lnkd.in/eGb9u-3 lnkd.in/gVC7TNCT Common Theme from Grads: It's a great career path because SCM jobs are everywhere. Additionally, SCM jobs usually pay great & there is a great room for career growth. The career path also offers excellent work satisfaction, & it's hard to get bored. ___ SCM Salary Data: lnkd.in/eQvfFMc Negotiation: lnkd.in/guTUcvdu Top School: lnkd.in/dn9-BCg lnkd.in/dVdMRXP Trends: lnkd.in/gDBXEi26 Internship pay: lnkd.in/e8pfXtC SCM orgs: lnkd.in/gkeAdXcU Double Majors? lnkd.in/gAViGTVG WMU ISM...1st among non-PhD granting programs & #8 overall (Gartner 2018)
The new Western Michigan University - Haworth College of Business video series turned out great. Supply chain management student, Alexandra Henson says that attending WMU Haworth was one of the best decisions of her life. Hear from Alexandra. th-cam.com/video/qbG7AufdzKQ/w-d-xo.html Some 2022 WMU SCM student success stories… 1. Dylan Sing is a team player as a student athlete on the WMU men's soccer team & as a SCM major. lnkd.in/ggqPmMyw. 2. SCM student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit. lnkd.in/d5UEQVJV 3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in supply chain management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY 8. Jessy Mutombo: Going the extra mile. lnkd.in/gU_Mag6i 9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ 10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75K. Watch these "major" stories on WMU Haworth's students. lnkd.in/dHhA8iEX. Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys. FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7. WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major: lnkd.in/g3CZBrM7 Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples: WMU named in Princeton Review's 2022 'best business schools' lnkd.in/gnRvmJwD Accounting *Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs. lnkd.in/esW6ZuD lnkd.in/eN5wF6b Supply Chain Management *Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF Food & Consumer Package Goods Mktg *Has earned certification for its category management coursework from the national Category Management Association lnkd.in/eTjBRP9 Sales & Business Mktg *Nationally ranked as the best university sales program since 2007 lnkd.in/etcppYi Digital Mktg & eCommerce *One of only a handful of its kind in the nation. wmich.edu/dme Advertising & Promotion *Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals. lnkd.in/ecR2pxu Entrepreneurship lnkd.in/emeTCTJ *Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies. Human Resource Mgmt *One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6 Leadership & Business Strategy *We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses. lnkd.in/e5JUSye Military Science & Leadership *Thank you for your service to our country! wmich.edu/rotc Finance & Commercial Law *Business law, finance & personal financial planning wmich.edu/finance Business Information Systems *Business analytics, Computer information systems, Cybersecurity lnkd.in/evSdSqU GRADUATE PROGRAMS *Princeton Review: one of the best places to earn a Master of Business Administration degree. #college #career #major #business
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. Watch these major stories on WMU Haworth's major students. lnkd.in/dHhA8iEX Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7 WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major: lnkd.in/g3CZBrM7 Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples: WMU named in Princeton Review's 2022 'best business schools' lnkd.in/gnRvmJwD Accounting *Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs. lnkd.in/esW6ZuD lnkd.in/eN5wF6b Supply Chain Management *Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF Food & Consumer Package Goods Mktg *Has earned certification for its category management coursework from the national Category Management Association lnkd.in/eTjBRP9 Sales & Business Mktg *Nationally ranked as the best university sales program since 2007 lnkd.in/etcppYi Digital Mktg & eCommerce *One of only a handful of its kind in the nation. wmich.edu/dme Advertising & Promotion *Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals. lnkd.in/ecR2pxu Entrepreneurship lnkd.in/emeTCTJ *Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies. Human Resource Mgmt *One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6 Leadership & Business Strategy *We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses. lnkd.in/e5JUSye Military Science & Leadership *Thank you for your service to our country! wmich.edu/rotc Finance & Commercial Law *Business law, finance & personal financial planning wmich.edu/finance Business Information Systems *Business analytics, Computer information systems, Cybersecurity lnkd.in/evSdSqU GRADUATE PROGRAMS *Princeton Review: one of the best places to earn a Master of Business Administration degree. #college #career #major #business
Nice SCM salary report summary: lnkd.in/dTneTGgw. “Supply chain pros are making an avg of nearly $30K more/yr than the avg American, & are generally happy in their careers (ASCM)...The report found that the avg median supply chain salary is $98,570 (including base & additional compensation), up more than 3% from the previous year’s survey. The average median pay in the U.S. in Q4 of 2022 was equivalent to $56,420 annually, according to data from the Bureau of Labor Statistics.”
Also, from ASCM/APICS: lnkd.in/d7WSAWC3.
For tons of SCM salary data, see: lnkd.in/gp6iMKT9.
Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu.
Supply Chain Certifications To Advance Your Career…and many more at: lnkd.in/gHBkZ5cM. Supply Chain Manager Salary: Your 2023 Guide: lnkd.in/grxANayH & lnkd.in/gp6iMKT9. Indeed has material on supply chain careers...70 Job Titles in Supply Chain (w/ Avg Salary): lnkd.in/gUAk4SPG. 11 Benefits of SCM Careers: lnkd.in/gXG9EkEF. What Does a Supply Chain Manager Do? lnkd.in/gFxhqH2m.
Do Certificate Programs Pay Off? lnkd.in/gxGAtHVs.
How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gfW-SeZk. Top 10 SCM Trends…lnkd.in/gG3hBRpH.
Students: Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3. Prepping for a job interview? Here's how to answer 'What is my biggest weakness?' Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gMtdr92u. hashtag#college hashtag#supplychain hashtag#internships hashtag#salary
“In ISM’s 2023 Salary Survey, the reported overall average salary remained steady, dipping imperceptibly (that means subtle) to $123,523, while the median salary rose 5.8 percent year over year, to $105,795. Except for 2021, average salary has mostly increased over the past five years for both women and men, though the pay gap between men and women persists, now at 25 percent.” lnkd.in/gwCWhhcE. Previous years: Both women’s & men’s compensation fell in 2021. From the Institute of Supply Management 2022 - lnkd.in/g2dVpbeK & lnkd.in/gHMUSv_s. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. 2020 $ (before covid): lnkd.in/gz8WQEhr. 2018 $: lnkd.in/gV53aggX. lnkd.in/giwxC9ux "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." lnkd.in/gMxqC5mb. Links to other sources of salary data: lnkd.in/gaY5FszK #salary #salaryguide #salarynegotiation #supplychain
Another awesome post Ms. Labes, thank you. Just curious as to where people think the supply chain function should sit within this chart, especially in regards to the CFO. Assume mfg orgs where direct material purchases (from their supply chain) are 50-80% of each dollar in sales revenue. www.linkedin.com/posts/sime-curkovic-61617a115_entrepreneur-finance-business-activity-7038161272391036928-VZap? FYI, per chatGPT: On avg, what % of each mfg sales dollar is in direct material costs? The % of each mfg sales dollar that is in direct material costs varies depending on the industry & the product being manufactured. However, a commonly used benchmark is the Cost of Goods Sold (COGS) metric, which includes direct material costs, direct labor costs, & overhead expenses associated w/ production. According to the National Association of Manufacturers, the avg COGS as a % of sales for U.S. manufacturers was 64.7% in 2020. However, this % can vary sig depending on the industry, w/ some industries such as food/bev having a higher % of direct material costs, while others such as software/technology having a lower %. In summary, while it is difficult to determine an exact % for direct material costs as it varies across industries & products, a common benchmark is the COGS metric, which is typically around 65% of sales for U.S. manufacturers. __ Remember, ROI = profit margin * asset turnover rate (ATR).
ATR = sales/total assets total assets = current assets + fixed assets current assets = inventory + accounts receivable + cash.
I keep telling my students if they can widen margins (i.e., reduce direct material costs since that is where most of your costs come from) and/or increase ATR, then ROI will go up. So, if you can reduce your total assets without changing sales and/or increasing sales, then ATR goes up. For example, reduce your inventory and your ATR will go up and ROI will go up. If you can do more with less, then your ATR will go up. Arguably (in mfg orgs), no other major/function (SCM) has a greater impact on what goes into the ROI calculation. That is why SCM graduates will likely be immediately bonus eligible and their highest ranking functional area (SCM) leader will have a VP in front of their name. WHAT IS THE FORMULA FOR ROI? Return on Investment equals Profit margin * asset turnover rate. WHAT IS THE FORMULA FOR PROFIT MARGIN?
(Sales - cost of sales)/Sales or Net Income/Sales
Keep this simple, take your company’s total annual sales revenue and subtract your costs (DM, DL, & OH). Take that number and divide it by your total annual sales revenue. So, how do you widen margins? Cut costs. Where do most of your costs come from? Direct material purchases. This is what they are majoring in. Why do you want to widen margins? To increase ROI (Return on Investment). ROI is PM multiplied by Asset Turnover Rate (ATR). What is ATR? Doing more with less (i.e., reducing inventory, getting customers to pay sooner, buying less expensive stuff…OUTSOURCING?). Details: lnkd.in/e9j33EQ #outsourcing #supplychain #cfo
Here is a way to be very proactive and even stay one step ahead of your suppliers (and customers). lnkd.in/gMuhMNf6 and lnkd.in/gQZ7HfWb Surprised by raw material price increases? At the WMU ISM supply chain management program we teach our students to track commodity forward price curves. Here's a quick video of Net Alpha's cloud based materialx Decision Support service that is being made available to our students in class as they prepare to become future SCM managers. Some of our alumni have experienced this new service and love it. It looks at raw material market data from multiple sources, visualizes & analyzes historical pricing scenarios, & simulates planned purchases & what-if scenarios against forward price curves. Our grads will be ready.
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7. Supply Chain Manager Salary: Your 2023 Guide th-cam.com/video/-KEbg2FTat4/w-d-xo.html Indeed has material on supply chain careers...70 Job Titles in Supply Chain (w/ Avg Salary): lnkd.in/gUAk4SPG. 11 Benefits of SCM Careers: lnkd.in/gXG9EkEF. What Does a Supply Chain Manager Do? lnkd.in/gFxhqH2m. Nice SCM salary report summary: lnkd.in/dTneTGgw. “Supply chain professionals are making an average of nearly $30,000 more per year than the average American, and are generally happy in their careers, according to data included in a new report released this morning by the Association for Supply Chain Management (ASCM). ...The report, “The Supply Chain Profession in 2023: Salaries and Careers Across the Globe,” found that the average median supply chain salary is $98,570 (including base and additional compensation), up more than 3% from the previous year’s survey. The average median pay in the U.S. in Q4 of 2022 was equivalent to $56,420 annually, according to data from the Bureau of Labor Statistics.” Also, from ASCM/APICS: lnkd.in/d7WSAWC3 “Those who invested in career certifications found themselves earning higher salaries. The report found that supply chain professionals who hold at least one credential reported a median salary that is 16% higher than those without. People with two or more certifications earn 34% more.” For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9. 2023 Logistics Salary Survey: lnkd.in/g-MCCsfa. Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu. #supplychain #salary #career #jobs
So high schoolers are saying college is NOT worth it…“The % of students who say college “isn’t worth it” has grown from 8% in 2019 to 17% in 2021 & 20% in 2023.” lnkd.in/gcjRb-Um. But actual college graduates say it is VERY worth it: “…95% of graduates of two-year, four-year, and graduate programs are excited about their postgraduate plans, and nine of 10 said that college was worthwhile, they were happy with their choice of school and think they chose the right field of study.” See: lnkd.in/gyN2iwXN. …Of the half of graduates who plan to immediately get a paid job-as opposed to, say, pursuing another degree or taking some time off-79% had already secured postgraduate employment in their primary field of study. And one in two said the job hunt was easy. …those with bachelor’s degrees earned nearly $30,000 more annually than counterparts who have only a high school education. A two-year degree yields an extra $8,000 a year. … 20% of those polled who are graduating from a public school report carrying no debt at all, compared with 7% of their private-school peers. __ "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022." lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7. WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Supply Chain Manager Salary: Your 2023 Guide: The job growth rate for logisticians is high, at 28% between 2021 & 2031. Compared w/ 5.3%, the job outlook for all occupations, that is a promising figure for future supply chain managers. lnkd.in/grxANayH How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gNCq6eYR In Michigan: Hot Top 50 Job Outlook: “a 29.7% increase in demand for logisticians” & “The most in-demand, high-wage jobs will be operations managers, w/ an annual need of more than 6,500 & a wage of $29-72/hr”. lnkd.in/gYbWCSQQ & lnkd.in/gzqRPEPr & lnkd.in/g9T2fU_d & lnkd.in/g_G-xwFv. Industry outlook and trends lnkd.in/gCNG4EqB More data: For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9 #supplychain #careerguidance #job #career
This college professor spills 6 secrets that every freshman should know www.marketwatch.com/story/this-college-professor-spills-6-secrets-that-every-freshman-should-know-2019-08-13 Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that.
I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergraduate level.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ
"Students who are able to build strong relationships w/ professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall...lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed w/ student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
Another study: Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH
Ready for a HW assignment that will sharpen your SCM Finance skills?... Students: See the one-page financial statement on ROI at: wmich.edu/sites/default/files/attachments/u56/2023/LectureROIHandoutPDF.pdf
Let’s say you just started working for this company and you are a problem-solver that is obsessed with finding ways to do every part of your job better, faster, and cheaper. Over a six-month period, you work very aggressively to reduce your organization’s direct material purchases/costs by 5%. For example, you figured out a way to consolidate your purchases by reducing the number of suppliers you use. So, you are giving a fewer number of suppliers larger amounts of business and volumes. By the way, that is called supply base deproliferation and it usually results in lower prices from economies of scale for suppliers. Suppliers are very OK with lowering their prices if you give them higher volumes of business (suppliers reduce their costs that way and share the cost savings with you by charging you less per part). Question #1 (fill in the blanks): Here is the question: what impact does reducing your employer’s direct material (DM) costs by 5% have on its ROI (use the numbers on the attachment)? Note, if you reduce your DM costs by 5%, it also reduces your inventory value by 5% (in other words, it will also increase your asset turnover rate - so you have to recalculate profit margin and asset turnover rate). Such a cost reduction (5%) would increase profit margins from _% to __% and ROI from 10% to __%? This equals a _ percentage point increase improvement in return on investment for each 1 percentage reduction in material costs…Hint, (new ROI - old ROI)/5. My thoughts…The 5% reduction used in this example is certainly a realistic expectation if the firm hires a high performer and if the SCM operation in this firm is not particularly progressive/strategic or well run. In a well-managed supply chain organization, a more realistic target might be a 2-3% cost reduction. However, this new post covid inflationary environment has made trying to cut costs VERY difficult. Remember, I said earlier that a dollar saved in SCM is the same as a dollar of new profit. However, an additional dollar of income from sales is NOT a new dollar of profit. Applicable expenses (your costs) must be deducted from the sales dollar to determine the remaining profit. Question #2 (fill in the blanks): Back to the financial statement…A 5% reduction in direct material costs produces a profit increase of $____? If the same profit increase had to be increased by sales, what sales increase would you need? At the existing 8% profit margin, the following calculation provides the answer: Profit increase (plug in the number from the blank above in Question #2) = New sales x .08 New sales = $____ This represents a sales increase of: ($_____/$5,000,000) x 100 = ____% So, for comparative purposes, in this case study, the same absolute profit improvement can be achieved by reducing material costs by 5% or by increasing sales __%, approximately a ratio of __ to 1. My thoughts: If the profit margin were greater than 8%, the ratio would be somewhat less; if material costs, as a percentage of sales, were higher, the ratio would be somewhat greater. Look, most progressive/strategic (long term thinking) managers strive to improve the firm’s profit position by both increasing sales revenue (if possible in global saturated hyper competitive markets) and by reducing the various elements of operating costs (which is always a viable option since most costs come from the supply chain!). Sales and Marketing majors: Yes, selling more stuff to make more money is great, especially stuff with wide margins, but cutting costs can be a way more viable and effective option. In practice, the cost of materials can easily vary as much as 10%, depending on the skill sets of your supply chain management organization. This is why typically there are more opportunities available for reducing purchasing costs 5% per se than there are for increasing sales volume by 20-30%. Also, additional profit from purchasing savings can normally be made without increases in expense. If an increase is required, it is usually for hiring more Broncos which pays for itself because they are trained to be problem solvers that do things better, faster, and cheaper. On the other hand, additional profit from increased sales volume normally entails increases in both expenses and increases in risk of capital. Additional expenses are incurred for such things as expanded sales and/or workforce, expanded advertising budget, additional plant capacity, overtime production pay, or some combination of these factors. Additional profit from sales, therefore, entails increased capital risk and increased managerial effort. Additional profit from purchasing/supply chain management normally only entails increased managerial effort, plus an occasional modest increase in management expense (hiring Broncos). What’s wrong with hiring a high performer for $70K/year ($100K/year with benefits and bonuses) if they save you hundreds of thousands of dollars annually (maybe millions in savings). Question #3 (start over with the case study): Go back to the original financial statement on ROI. Let’s say you start working for this company and you tell the owner of the company that you need around six months to reduce direct material costs by 5%. You tell the owner that it will make the ROI go up by X% (your answer to question #1 above). The owner says that is great but he/she does not have that much time and wants instant cost savings results. This company is privately owned and family run. That means they are not publicly traded (you cannot buy stock in the company). The hourly workforce in the factory is also not represented by a union. So, the owner said he/she is going to cut direct labor costs by 5%. How much will doing so improve the owner’s ROI? How effective do you think that is and what might be the consequences? What would you have done if this was your company and you were dealing with low, thin, and tight margins? My notes (I keep giving you my notes): How can Supply Chain Management (SCM) increase company profit? For the typical firm, SCM is responsible for spending well over half of every dollar the firm receives as income from sales. More dollars are spent for purchases of materials and services than all other expenses combined, including wages, taxes, dividends, and depreciation. The fact that SCM is responsible for spending well over half of most companies’ total dollars highlights the profit-making possibilities of SCM. Every dollar saved by SCM is equivalent to a new dollar of profit. Note, almost all of my students that go into SCM, are immediately bonus eligible. That is management’s way of saying Broncos will get extra money added to their salary if they help the company save money (saving money is the same as making money). Top management’s performance is frequently evaluated on the basis of the rate of return management is able to earn on the total capital invested in the business. A firm’s profit margin reflects management’s ability to control costs relative to revenue. The asset turnover rate reflects management’s ability to effectively utilize the firm’s productive assets. Hence, a firm’s management (SCM) can improve ROI (and managerial performance) in three ways: 1) by reducing costs relative to sales; 2) by getting more sales from available assets (or increasing sales proportionately faster than investment); or 3) by some combination of the two. As seen from the handout, SCM can contribute to ROI by both increasing the profit margins and/or increasing the asset turnover rate. That’s it! Email me if you want the answer key. Thank you. Sime
My students asked for a summer reading list (if they would just read the syllabus). People that read a lot make more $ (2.3x more?!). Both Gates & Buffett make a point to read every day. lnkd.in/gd-J5x5N. Why Reading Business Books May Actually Help You Get More Money: lnkd.in/gum3EzgR. www.linkedin.com/posts/sime-curkovic-61617a115_7-must-read-business-books-activity-7077620029189459969-QBT2? Reading List: A great book read for CFO types that want to understand SCM types (or the other way around?): "Supply Chain Metrics that Matter"...The book links corporate financials to SCM. This video shows 7 business books recommended by Stanford professors: lnkd.in/g5EGVe_X Other reads for SCM leaders: The New Leader's 100-Day Action Plan: How to Take Charge, Build or Merge Your Team, and Get Immediate Results- by George B. Bradt, Jayme A. Check, John A. Lawler
5 Levels of Leadership or 21 Irrefutable Laws of Leadership by John Maxwell. Both are mandatory readings for many F500 SCM teams.
Many are also proponents of the “The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter, Updated and Expanded”, by Michael D. Watkins
This was required reading in Procurement at a F500 org: Switch: How to Change Things When Change Is Hard by the Heath Brothers
Great feedback on these 3:
Supply Chain Excellence by Peter Bolstorff and Robert Rosenbaum The Lean Extended Enterprise by Terence Burton & Steven Boeder The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt. Suggested student reads: - Designing and Managing the Supply Chain by David Simchi-Levi, Philip Kaminsky and Edith Simchi-Levi - Essentials of Supply Chain Management by Michael H. Hugos - Logistics and Supply Chain Management by Martin Christopher - Logistics Management and Strategy: Competing through the Supply Chain by Alan Harrison and Remko Van Hoek - Manufacturing Planning and Control for Supply Chain Management F. Robert Jacobs, William Berry, D. Clay Whybark and Thomas Vollmann - Purchasing and Supply Chain Management by Robert Monczka, Robert Handfield, Larry Giunipero and James Patterson - Purchasing and Supply Chain Management: Analysis, Strategy, Planning and Practice by Arjan J. Van Weele - Supply Chain Logistics Management by Donald Bowersox, David Closs and M. Bixby Cooper - Supply Chain Management: Strategy, Planning, and Operation by Sunil Chopra and Peter Meindl - The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage by Yossi Sheffi Also: lnkd.in/gb9nDnju lnkd.in/gjBhpb9M lnkd.in/guxyh9Ny The classics… HOW TO WOW: FRANCES COLEJONES THE EXCEPTIONAL PRESENTER: TIMOTHY J KOEGEL THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE: STEPHEN COVEY GOOD TO GREAT: JIM COLLINS THE PRESENT: SPENCER JOHNSON FISH: STEPHEN LUNDIN THE SERVANT: JAMES C HUNTER According to a number of studies, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year.
According to another study in the Economic Journal, those who had over 10 non-school books as a kid earned an average of 21% more than those who did not. Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas & strategies they can use to help their careers (e.g., developing core competencies), their teams & their orgs. Where can you find a stream of new & practical ideas to help drive your success? The easiest & most underutilized method is to learn directly from the world's business experts (e.g., HBR). Many of them have written great books that offer their proven strategies & winning ideas - ideas & strategies that took years to develop & perfect. This information is just sitting there for the taking - ready to propel you to the next level.
A recent study showed that 74.9% of all managers understand they need to read more to stay ahead of the curve, but they simply don't have the time. & this troubling reality is directly impacting their incomes - not to mention their careers! Western offers new course on the intersection of artificial intelligence and writing: lnkd.in/g476QVTS. #supplychain #readinglist
New lectures/career advice can be found at: th-cam.com/video/R1orKbGDEbM/w-d-xo.html th-cam.com/video/S9cyD9ydG3w/w-d-xo.html th-cam.com/video/shO_ItxFGpE/w-d-xo.html
College Students: Do NOT round up your GPAs, use a post script on your phones for email replies, take your email signatures VERY seriously, & use keywords on your resume. www.linkedin.com/posts/sime-curkovic-61617a115_careeradvice-resumeadvice-activity-6998245283591598080-XkAP?
Resume advice, Do NOT round up your GPAs
Students should not change their official GPA for their resume. Instead, I recommend they calculate their major GPA using the courses required for their major & also list their overall GPA (especially if your major GPA is much higher than your overall & your overall is under a 3.0).
Also, a 2.96 GPA is not a 3.00 GPA. If an employer requests an official transcript be sent upon graduation (which they will), this could be labeled as "falsification of employment record" & as a result, an offer of employment can be revoked (if you round up your GPA). ___ I am noticing that several of my students are responding to my emails via smart phones. That is fine. It is 2022 & your future employer will expect you to do the same. However, it can be cumbersome to write emails on your phone that are clean & easy to read. & sometimes, you try to write one word but another word appears that was not intended. So, please take the time to make sure your reply message looks professional & reflects positively on you. Impressions will be made based on your written communication & you will be judged. I would also recommend programming your phone so that the post script tells the recipient of your message that it was sent from your smart phone. That way people will be less judgmental if a mistake was made. You can add the message in your iPhone settings so that it will appear on all emails sent by phone but not on your email signatures sent by computer. An appropriate post script message from your phone would be: “Note: this email was sent by iPhone, please forgive grammatical errors. “ ___ Resume Keywords Ideas/Action Verbs for your resume. Does your resume use these words? lnkd.in/ea6gV-K Here are my thoughts on resumes: lnkd.in/gxEy9VkH lnkd.in/gCgi72kX lnkd.in/gKV5JYhR ____ Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). It might be the first impression you create! lnkd.in/ge9nGrjx lnkd.in/evaNVnbv I just saw this one from a current student and really liked it... xxxx xxxx Integrated Supply Management (Purchasing, Operations, Logistics) - 2023 Western Michigan University - Haworth College of Business, Lee Honors College xxxxball Student Athlete E-mail: xxxxx.x.xxxxxx@wmich.edu; Tel: (269) xxx-xxxx; LinkedIn: lnkd.in/gqbYfa9U #careeradvice #resumeadvice
Even in the pandemic, the placement success of the WMU Integrated Supply Management Program continues to be off the charts. *Median salary for all WMU ISM degrees was $60,001 - $65,000 (around 10% of graduates hired on with one automotive OEM at $78K!). "Supply Chain" + "Degree" = jobs and $$$$. There are > 20,000 jobs on LinkedIn not filled which have the words "entry-level supply chain" in the job title. An undergraduate degree creates many benefits beyond employment, but it never hurts to get a bit of educational ROI either! Wow, check out this job placement... _ Quickest way to six figures? Answer: Supply Chain Management JOB SECURITY? U.S. News & World Report recently predicted that logistics & SCM jobs would expand by 25 percent within the next decade and identified SCM as one of the “20 Best Business Jobs.” Logistics and supply chain management are also included in lists that rank top career fields for women during the next decade. "...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..." Tomorrow’s CEOs Will Come from an Unlikely Place: The Supply Chain. lnkd.in/eGb9u-3 Common Theme from Graduates: It's a great career path because SCM jobs are everywhere. Additionally, supply chain jobs usually pay super well and there is a great room for career growth. The career path also offers excellent work satisfaction, & it's hard to get bored. Everything has a supply chain and everything comes from a supply chain. ___ SCM Salary Data $$: Since so many people asked, here is a list of pubs: lnkd.in/eQvfFMc Employment of SCM analysts is projected to grow 14 percent from 2020 to 2028, much faster than the average for all occupations. The average growth rate for all occupations is 5 percent. The median annual wage for these types of skill sets was $83,610 in 2019. The median annual wage for all workers was $38,640. Also, from the Institute of Supply Management: For the 15th year, the ISM is out with its annual salary report for procurement professionals, this year based on survey results from some 2700+ supply managers from those new to the profession to chief procurement officers. The survey was conducted between mid-Jan & mid-Feb 2020, and based on 2019 compensation data. Salary levels include both base pay and any bonus payments. The headline news is that average compensation growth for SCM practitioners rose for the third straight, with average overall 2019 compensation across all levels reaching $123,226, a 3.3% increase compared to 2018, when the avg was $119,271. The increase in 2019 is double the 1.6% rise reported for 2018 versus 2017. This year, 87.6% of respondents indicated their base salaries increased in 2019, & of those, the average increase was 5.5%. lnkd.in/ekhu3YHA - Yes, WMU has one of the best business colleges in the world.
Parents: are you pushing your kids to finish college ASAP? Perhaps delay graduation for work experience & stay specialized? FYI: What do SCM internships pay (& they all pay, never work for free)? The going rate is $18-27 per hour. lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Thousands of SCM internships currently posted - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE. > 25,000 business related internships. lnkd.in/gmMH5myb. Being job ready in the covid market & beyond. lnkd.in/eZGZbkP. Most good paying jobs are highly specialized (e.g., purchasing, operations, and logistics). SCM degrees are specialized but you also have to get good practical work experience related to what you are majoring in. Quite simply, students without work experience in their major do not get good jobs in their major. That means you have to make getting an internship one of your top priorities while in school. You have to do this even if it means delaying graduation (in my opinion). The delay will pay for itself in terms of starting salary & future advancement opportunities (because of what you learned during the internship & what you brought into your full-time job because of the internship). Pasted below is some feedback from a manager that thinks students are less inclined to delay graduation for great work experience. I think his points are somewhat exaggerated, but I just wanted to reiterate the importance of getting work experience related to what you are majoring in. Please take this in the right spirit. I just want the very very best for you. I am currently working with a handful of graduates that are unemployed. What do they have in common? Low GPAs & no work experience. Again, please know that I am not judging. __ Students (here is an email from a manager): “As a bit of feedback, we always seem to have trouble convincing students that taking a semester off school & working for a company is “okay”. They tend to want to stay in school straight through & graduate in 4 yrs. In my opinion, times have changed, & a student absolutely needs to have some co-op work experience on their resume in order to land a good job in the area of Supply Chain. A summer internship (around 3 months) is just not enough anymore.” __ Being job ready in the covid market and beyond… lnkd.in/ed-ZfanD Also, students who choose to specialize in their education (e.g., SCM) are having better experiences than those who stay generalist. FYI, research from my colleagues: lnkd.in/ex89namH. They also found that college educators have more influence on a student's choice of major than any other person--more than parents, friends, other students, high school figures, academic advisors, etc. If there's one thing my SCM career taught me, it is to not fear specialization. It is the fastest road to growth and opportunity. #college #supplychain #internships #salary
Some employers are giving students a few days to make decisions on full time job offers several months before graduation. One student asked if that was ethical or even legal. Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5. My students came back to school from their summer internships and many of them received full time offers from their internship & many will accept (5-10 months ahead of graduation!). www.linkedin.com/posts/sime-curkovic-61617a115_should-college-grads-negotiate-a-job-offer-activity-6990285259237965824-O2FI? Note, most companies will only give them 1-2 weeks (or even only a few days!) to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want). lnkd.in/gmFMJfbC Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60K-$70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gMJYNJkh Many of our grads begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5 In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number. Advantages of starting career in job rotation for students: · Rapidly learn about your industry of interest · Work on a diverse set of projects · Find a mentor & learn about your potential career trajectory · See what makes the company great Also, students are getting lots of job offers when they play the job market...In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? Reneging: Once you commit, quit! lnkd.in/e85beQ2 Amongst those grads that have reneged on a job offer, 64% claimed that they did this because they didn’t know how to decline. 22% said they did this because they received a better offer elsewhere, while just 9% changed their mind (Milkround). lnkd.in/gZiiskjD The Harvard advice: lnkd.in/ghEYr3Qw lnkd.in/gc4Kd_SE Ideas from Yale: lnkd.in/gggJFADW lnkd.in/gxkjy3sm #careeradvice #salarynegotiation #joboffer #supplychain #salaryguide2022
2024 Top 10 SCM Trends…Common theme: BIG DATA is not going away (agreed), BUT one must understand why/when certain data formats create more value. Many of our supply chain students get a minor in Business Analytics & we actually teach a variant of Wide/Small data called Association Analysis (our Business Data Mining class). My thoughts: lnkd.in/g5UizdeN.
ASCM/APICS now has a Supply Chain Technology Certificate, $495, 20 hrs of online training (hmm). Topics covered: Blockchain, Adv Analytics & Automation, Internet of Things, Cybersecurity, Demand Planning Technologies, & Additive Mfg (3D Printing). This covers a LOT of ground in 20 hrs. For example, see their Adv Analytics & Automation…My thoughts: lnkd.in/gCtUu65i.
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead. “Bachelor’s degree holders generally earn 84% more than those with just a high school diploma…STEM, health and business majors are among the highest-paying…Top-paying college majors earn $3.4 million more than the lowest-paying majors over a lifetime.” lnkd.in/gfAFzNiP. www.visualcapitalist.com/sp/interested-in-a-career-in-global-trade/ The unemployment rate for Americans w/ a college degree has dropped to 1.9%. The avg cost of college tuition & fees at public 4-year institutions has risen 179.2% the last 20 years for an avg annual increase of 9.0%. It’s a disturbing chart. BUT, while my supply chain students spend around $60K for their degree, they graduate with a job that pays $60-75K, & many are at 100K by age 30. That’s not bad ROI, right? Education boosts earning power...Avg salary by education 2022 (inflated IMO): 1. High school diploma $98,157; 2. Two-year degree $91,204; 3. Some college $108,647; 4. Bachelor’s degree $134,037; 5. Master’s degree $163,335; 6. Ph.D. $265,606. lnkd.in/gESQFNZa Over their lifetime, an MBA graduate can expect to earn $3M more than someone w/ only a bachelor’s degree. ...by 2030, the U.S. could experience unrealized revenue of $1.748 trillion due to labor shortages - equivalent to 6% of the country’s entire economy. I think it is going to be WAY worse because people are having WAY fewer kids. lnkd.in/gSPR9AfU If you look at this 2020-30 job growth chart closely, all things supply chain related scored VERY well (i.e., operations & logistics). lnkd.in/gbWAzjjK Basically, we are going to see 20-30% growth in SCM jobs over the next decade. Also, the jobs in SCM pay VERY well. Lastly, the data science jobs scored off the charts in growth & pay. So, SCM + data science = jobs & $. Finally, automation is killing all things manual (negative job growth).
My students are getting worried about the job market because they are hearing about this recession. Yes, recessions tend to be very bad for college grads. However...Yes, the number of job openings fell for the 3rd straight month to 10.698M in June which is the lowest since 10.629M in August 2021 (off the record high of 11.855 million in March). But, that means there are only (sarcasm) around 11M unfilled jobs. National unemployment is 3.7% (near 50 year lows). That is not a labor recession. College grads, worry not (not even close). Recession Graduates: lnkd.in/gY9FC6TR The benefits of starting college in a recession lnkd.in/gZFAmqXX After a few thousand students, I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere. FYI: WMU students can double major w/ Leadership. lnkd.in/gTv7gtEP www.linkedin.com/posts/sime-curkovic-61617a115_interested-in-a-career-in-global-trade-activity-7010719839551963136-0U5F? #supplychain #career
After a few thousand students, I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere (#2 on list below). FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H www.linkedin.com/posts/sime-curkovic-61617a115_why-are-americans-quitting-their-jobs-5-activity-6997166854179876864-xHc-? "Quiet quitters" make up at least 50% of the U.S. workforce -- probably more, Gallup finds. U.S. employee engagement took another step backward during the 2nd quarter 2022, w/ the proportion of engaged workers remaining at 32% but the proportion of actively disengaged increasing to 18%. The ratio of engaged to actively disengaged employees is now 1.8 to 1. lnkd.in/gb4WBKvf U.S. productivity posts biggest EVER drop in 2nd quarter 2022. This is a very complicated calculation, but it is very concerning. Has how we managed the last 2+ years caught up to us? This not only will make inflation harder to beat, it contributes to inflation.
Note, in the quarter after Sept. 11th, & during the Great Recession of 2007-09 & early in the pandemic, American productivity SOARED. Why? Because it’s what we do. Something is amiss in 2022. I think Leadership got us into this, & Leadership can get us out. For example, here are Four Ways to Energize a Post-Pandemic Workforce (which have largely been downplayed in my opinion): 1. Physical Safety Remains #1 2. Mental Health on the Mind 3. Time Matters Most-Even Above Pay 4. See Me, Hear Me Working Together To Get Back to Normal: lnkd.in/gRRntrQ6 Why are people quitting their jobs? Is there a LEADERSHIP void? I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere. From Gartner: If you want to develop and retain strong employees without compromising their health and well-being, Connector managers are your secret weapon. gtnr.it/3A1mDvc FYI: Our students can major in Leadership (lnkd.in/e5JUSye). It can actually be taught, practiced, & learned (you can get better at it). However, another major is also req’d in our program (you cannot just major in Leadership), make sense? Great posts & reads: Flowchart: Are You Working for a Toxic Boss? lnkd.in/ggp_NaTx
Why are Americans quitting their jobs? lnkd.in/gRN_tFm3 The five best lessons I’ve learned on leadership and career development lnkd.in/g2PaXqF9 The Great Resignation turns to the Great Regret as worker needs are not being met, expert says. lnkd.in/ggNH5YMY "Promotions are, in part, a function of who has the best relationship with the decider - if you're young, get to the office @smerconish @CNN": lnkd.in/diBcDBM4 Malcolm Gladwell says people must return to the office to regain sense of belonging’. lnkd.in/gaCbAzSj #leadership #careeradvice
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, if a company does not know your market value. There are already>10,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE. lnkd.in/gt98WuvK & > 16,000 business related internships. Perhaps delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb lnkd.in/gARup7zr lnkd.in/g4-csGUy www.linkedin.com/posts/sime-curkovic-61617a115_goals-of-a-supply-chain-internship-or-co-op-activity-6994340284243345408-XO44? Top 100 Internships lnkd.in/g8N_p43w Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84 > 1/2 our students are making over $20/hr. The program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16/hr. Why would any org want to pay 20-30% below avg? Should grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60-70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gB9bTdgJ lnkd.in/gW5uwkkE Our avg is $65K. You need to position yourself w/i that context. Are you above avg? Why? And, does this org want someone that is above avg? Probably. If someone asked me what the avg WMU SCM student looked like, I might say: they have around a 3.3-3.4 GPA, 2-3 internships, a very relevant minor like Business Analytics, etc. So what if you have a 3.1 GPA & only one internship? It's OK! You can still get the best jobs out there! Maybe you interview great, maybe you really connect w/ the corporate culture, maybe you have stronger soft skills, etc. What if you have a 2.7 GPA & have to take a job w/ a mom & pop 3PL for $48,600? What's wrong w/ that?! Yes, there might be consequences for not getting more experience, for not having a higher GPA, for not having a BA minor, etc., but, it is America. You get 2nd+ chances.
Also, the top 20% in our program are getting offers 64K-78K from the F500 types. Not all orgs can compete against these offers & try not to focus too much on $. The $ will come no matter what if you have a challenging job. Try to make an assessment based on things beyond $. I know it is hard to do but you have to think long-term, & long-term the $ will come. The most important part of your long term earning potential is not your starting salary, but what your resume will look like 3-5 years from now. In other words, what will you accomplish & what will you be doing in your first job during the first 3-5 years of your career? #joboffer #negotiation
Notice how a lot of these jobs are in the supply chain. "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." www.visualcapitalist.com/sought-after-entry-level-jobs-of-2023/ The U.S. supply chain contains 37% of all jobs, employing 44 million people. See: The Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw. Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.” A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.” The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. Nice SCM salary report summary: lnkd.in/dTneTGgw. #supplychain #jobs #economy
Hello I’m from Ontario Canada I’m starting a supply chain course in January I’ve done lots of research on the course and they have tons of job opportunities in my area and tips ?
I would read and watch as much as you can, because much of the Intro material can be self taught. My website has tons of free material to watch and read from. Also, connect with me on LinkedIn and follow my posts. It is largely geared towards undergrads majoring in SCM. Finally, the goal should be to get professional SCM work experience while you are in school so that you are job ready upon graduation. Students that are job ready have multiple job offers to choose from. Last note, master the technology, get a minor in something that resembles Data Analytics.
What does a "material" reduction mean? Data?...“Companies such as IBM, Accenture and Google have all worked to reduce the number of jobs that require degrees-and many more are taking steps to do the same. According to a 2022 report by Burning Glass Institute, a labor market research nonprofit, some 46% of middle-skill occupations and 31% of high-skill occupations saw a “material” reduction in degree requirements between 2017 and 2019.” No degree? No problem: 10 highest-paying jobs without degree requirements: Take this one with a grain of salt, notice #6: Supply Chain Manager: lnkd.in/g_k6q9gv · Average earning potential: US$108,141 per year “Supply chain or logistics managers have never been in greater demand than after the COVID-19 pandemic…As the supply chain industry expands, it offers you great potential to progress in your career…While studying for a degree in supply chain management can help you learn more about the industry, you can start working at an entry-level as a supply chain administrator…As you work your way up management, consider completing professional development courses from the global leader in supply chain management, the Association for Supply Chain Management.”
Also from Indeed…Best Entry Level Jobs With and Without Degree Requirements: lnkd.in/gX8p-fKP. lnkd.in/gjhtECnF "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ. Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt 90% of 2023 graduates think college is really worth it. Here’s why they’re right-and politicians and pundits are wrong: lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. #supplychain #careeradvice #salary
Great read (see our new apprenticeship program below): The Supply Chain Of Supply Chain Talent Is Broken www.forbes.com/sites/ryancraig/2024/02/08/the-supply-chain-of-supply-chain-talent-is-broken/?sh=6f7678dc69d7 From article…“In some ways, it’s odd supply chain & procurement hadn’t come to the forefront sooner….Managing complex processes on paper or w/ spreadsheets is impossible…All told, the supply chain may comprise as much as 37% of all jobs - 44M jobs…64% of companies are experiencing a supply chain talent gap...Colleges aren’t providing any coursework or training on Salesforce, Workday, or SAP. And if they’re not doing that, they’re highly unlikely to introduce specialized procurement and supply chain platform curriculum.” NOTE: there are programs (not many though) providing the knowledge and skills the writer is lamenting. For example, in regards to apprenticeship programs: We just concluded a co-op pilot program with a F500 company that was highly successful and has started its second iteration in 2024. So, what makes this Co-op program different? It is based on the European apprentice programs, whereby students work part time as an integral part of their studies. The advantages are that students learn from hands-on experience, while also earning college credits. It is not students with a part time job next to their studies. In this program students work with company mentors and WMU-SCM faculty on projects that are directly linked to the SCM curriculum. At the end of every semester presentations are made to the company and WMU-SCM faculty members. At this point it is decided if both parties want to continue the engagement and, what the student’s grade is. Students can earn up to three courses (nine credit hours). Because of the required time, effort, and resources, i.e., investments, that the employer commits to the students, the learning experience and personal growth the students achieve from the Co-op program is unique. At the same time, the engagement between employer firm and WMU-SCM faculty improves on our industry relations, and provides yet additional opportunities for research support from the firm to the WMU-SCM program. The next company who will start a similar Co-op program will be another F500, yet another board member AND a corporate sponsor of the WMU-SCM program, underlining the commitment of our industry partners to the success of our students. Students are selected through a half day long hiring event. Together with employer and input from the WMU SCM leadership, we pre-select students. We travel up to HQ with them, where the students take an office tour, learn about the company, and they take part in interviewing sessions with several managers. ___ WMU Supply Chain Management Program: lnkd.in/erU3yTTW Delia Dohm’s curiosity guides her to success as the first WMU student in new co-op program: lnkd.in/emQrD2mk Thank you Ryan Craig for a great read (very timely in my world). hashtag#supplychainmanagement hashtag#logistics hashtag#procurement hashtag#college hashtag#apprenticeships
Five reasons why CEOs need to drive supply chain excellence from the top: “Some of the world’s leading CEOs today emerged from supply chain roles. Many have carried over their relentless focus on supply chain excellence into their leadership approach, proving to be invaluable in recent times….A deep understanding of supply chain issues is now a critical skill set for any C-suite leader.” lnkd.in/gVXyzaEn. I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…
"...it’s clear that supply chain pros are poised to become the most powerful executives in the world..." lnkd.in/g2rhdEAH. Why supply chain pros make great CEOs (2015!). lnkd.in/g6HJgvX3. Supply Chain Leaders Making The Move To CEO: Why the change? lnkd.in/gXqaMWU4. How a Background in SCM Can Set You on the Path to CEO: lnkd.in/gp42y_Q9 & lnkd.in/gxeu2a5B. Supply Chain Leader Traits That Make for a Great CEO. lnkd.in/gyYCRe9s. The Next-Gen CEOs Will Be ex-Supply Chain Leaders. lnkd.in/guyQRJ-D.
Moving supply chain leaders to the C-suite: lnkd.in/gU366dTD. Top 10 CEOs Who Have Had Roles in Supply Chain: lnkd.in/gkzVaZKc. CFO to CFO: Finance and SCM...lnkd.in/gFv3gqgn. Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical…lnkd.in/gBPZJsVq. lnkd.in/guejd-vi. Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT. #supplychain #ceo #csuite #cfo
SCM Data Scientist (171K jobs on LinkedIn!), Does your school teach this (we do)? Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). Employers require these skill sets from their SCM professionals. Do you know...big data/predictive analytics, database mgmt, data mining, project mgmt, SQL, Python, PMO, Tableau, Power BI, etc.? Business analytics addresses an increasing demand in orgs of all types to understand data related to their operations. Investments in information systems throughout the enterprise over the last 10+ years are generating huge amounts of data, & orgs will spend at least the next 10 years developing processes that generate insight from those data. In addition to data generated internally, many orgs are exploring the effects of external data, primarily present in social media, web search, mfg, & SUPPLY CHAIN. The ability to manage data to support business projects are the key to success in many disciplines. Business analytics will provide a comprehensive skill set for SCM professionals & future SCM graduates to analyze, VISUALIZE (Tableau & Power BI), & report data. Job Trend Data analytics plays an important role in the second decade of the 21st century. Tools supporting business analytics are exploding. Software designed to obtain data from multiple sources & transform them into actionable intelligence is a multi billion dollar business growing at 14 to 18 percent per year. The higher demand of analytics skills in business provides solid support for employers to demand this from future SCM graduates. Academic Offerings (does your school teach this?) Academic institutions are responding to the business analytics demand trend. In a recent study, more than 390 courses containing analytics content were taught in higher education. · At WMU, over half of their supply chain majors are picking up the business analytics minor per employer interest. These students are commanding a premium in the job marketplace as a result with starting salaries for well over $60K (many are in the 70s). See link below for a partial list of universities offering concentrations/minors. lnkd.in/eMPTFCd ____ Python is a must-have skill. lnkd.in/gf_UWz5x (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gKV4dw2z Anaconda +Jupyter Notebook + Python + visualization libraries lnkd.in/gHnUrVZz Do you know how to use Power BI or Tableau? lnkd.in/g9pgFErz
Hello: see - www.linkedin.com/posts/sime-curkovic-61617a115_hottest-mba-degree-now-supply-chain-management-activity-6882696153184378880-uiTq www.linkedin.com/posts/sime-curkovic-61617a115_forget-financesupply-chain-management-is-activity-6882372564593741824-GdUf When is the right time for grad school? The average age is 33. lnkd.in/eTk-PXPv I find this stat to not be too meaningful. For anyone
Notice what happens to salaries as you get certified and get a graduate degree... Careers in Purchasing and Supply Management Average Salaries (this is actually a few years old so the current numbers are even bigger) The Institute for Supply Management™ (ISM) surveyed supply management professionals during January and February to determine average salaries in the supply management profession. This report presents summary results of the survey that is based upon salaries earned during the calendar year. A full report is available to ISM members in the Online Career Center. Some of the key result are listed here. Keep in mind that there are a variety of factors that determine the actual salary you may earn. Salaries vary based on such issues as business climate, work experience, industry, education, certification status, personal ambition, cost of living, and organization budget. Overall average for supply management profession $102,218 Average for those with five or fewer years of experience $ 69,350 (average for WMU ISM graduate is around $60K) 1. Average for those with BS/BA in business $ 99,490 2. Average for those with one or more credentials $102,498 3. Average for those with a Master's degree $123,090
Note, there are some orgs that do not place a premium on a grad degree. SCM might actually be the quickest career path to six digits w/o a grad degree because rewards tend to be very performance driven. lnkd.in/eQvfFMc
If interested see, Do you want a full time job to begin in a job rotation? lnkd.in/e3EYjtsE More thoughts & help: lnkd.in/eXSyc5MF lnkd.in/epCzGXvs
Graduate Program Salary & Placement Trends Salary: • Supply chain MBA average salary is $91,949, up from $88,935, in 2018 • MSSCM average salary is $85,879, up from $83,066 • Top ten schools → MBAs average well above $100K; many MSSCMs also Placement: • 45% of students are already employed and plan to continue to work for their employer post-graduation • 42% secure a new job prior to graduation and 18% were employed by three months after graduation (average totals will exceed 100%) If you lack these skills, go get your MS in Data Analytics before you miss the boat. These skills would include: big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI, etc. Fortunately, most of my undergrads walk away with these skills. Just like AI, the boundaries of what is and what is not Industry 4.0 (supply chain 4.0, digital transformation, digitized supply chain, etc.) is quite blurry. These days any product with even a tiny element of AI/ML is claimed to be an AI product. Note, most mini MBA’s have an entire course dedicated to SCM Finance. Good luck climbing up the corporate ladder if you cannot talk to your CFO. I like SCM Finance so much, I encourage my students to get a graduate degree in Finance if they already have world class technology skills & a SCM background. If SCM professionals lack Finance skills, they will hit a ceiling professionally: th-cam.com/video/sRl2O5YI2h8/w-d-xo.html This is a great read that helps explain why a Finance graduate degree might make sense for a SCM professional: Great read: www.ismworld.org/supply-management-news-and-reports/news-publications/inside-supply-management-magazine/blog/2021/2021-01/the-monthly-metric-cash-flow-from-operations/
I am not convinced about the whole MBA thing (though the data still makes a good argument for a strong ROI)... lnkd.in/eW_F27BN lnkd.in/eTk-PXPv lnkd.in/e3EYjtsE lnkd.in/eQvfFMc lnkd.in/eX-2GgPp lnkd.in/ejRNPgfq
“The last time the U.S. labor market was this strong was in 1969…Although manufacturing hasn’t seen the highest gains, the sector has one of the lowest unemployment rates across job sectors, at 2.4%. Yet the industry faces an acute labor shortage-if every skilled unemployed worker were to fill open job vacancies, a third of jobs in durable manufacturing would remain open.” www.linkedin.com/posts/sime-curkovic-61617a115_visualized-the-state-of-the-us-labor-market-activity-7038877132286042112-BobS? __ The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. WMU supply chain grads from 2022 have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. lnkd.in/gwfAHdkW lnkd.in/gyRiv9_x Entry-Level Supply Chain Positions | Average Salary: $69,000 Mid-Level Supply Chain Positions | Average Salary: $115,000 Senior-Level Supply Chain Positions | Average Salary: $260,000 Also: Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000 Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000 Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000 Source: lnkd.in/ga8Azij7. Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5 Logistician, $74,750 Logistics analyst, $58,713 Supply chain planner, $64,844 Purchasing agent, $69,600 Purchasing manager, $121,110 Logistics manager, $114,670 Distribution manager, $94,775 Operations manager, $100,780 Business & SCM competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%. Top two: Microsoft Office/productivity tools Advanced Microsoft Excel Technical skills Among the top and fastest-growing technical skills are: Data science Supply chain knowledge Supply chain management Project management Many of our SCM students get a Business Analytics minor, what does that mean? See: 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j #supplychain #datascience #dataanalytics #college
College majors have a big impact on income. Here are the highest- and lowest-earning fields. "The typical college grad between 25 to 64 years old has an annual income of $127K, compared w/ the typical pay of $61K for those w/o a degree...& college grads on avg have 4x the wealth as workers w/o bachelors degrees." www.cbsnews.com/news/college-major-top-and-lowest-earning-majors-impact-on-income-pay/?hss_channel=lcp-598009 Indeed has material on supply chain careers...70 Job Titles in Supply Chain (w/ Avg Salary): lnkd.in/gUAk4SPG. 11 Benefits of SCM Careers: lnkd.in/gXG9EkEF. What Does a Supply Chain Manager Do? lnkd.in/gFxhqH2m. 12 Supply Chain Certifications To Advance Your Career lnkd.in/gHBkZ5cM "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. Hmm. Please take stats like this w/ a grain of salt (i.e., measurement, methods, sample size, context, etc.), but…Supply & demand conditions for SCM majors/pros might be very favorable moving forward. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7 WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Supply Chain Manager Salary: Your 2023 Guide: The job growth rate for logisticians is high, at 28% between 2021 & 2031. Compared w/ 5.3%, the job outlook for all occupations, that is a promising figure for future supply chain managers. lnkd.in/grxANayH How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gNCq6eYR Industry outlook and trends lnkd.in/gCNG4EqB More data: For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9 In Michigan: Hot Top 50 Job Outlook: “a 29.7% increase in demand for logisticians” & “The most in-demand, high-wage jobs will be operations managers, w/ an annual need of more than 6,500 & a wage of $29-72/hr”. lnkd.in/gYbWCSQQ & lnkd.in/gzqRPEPr & lnkd.in/g9T2fU_d & lnkd.in/g_G-xwFv. #supplychain #careerguidance #job #career
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…CEOs Will Come from an Unlikely Place: The Supply Chain... www.linkedin.com/posts/sime-curkovic-61617a115_tomorrows-ceos-will-come-from-an-unlikely-activity-6999055149319036929-aRIQ?
"...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..." Note, this article (2018) was written before covid. Multiply the above statement by a factor of at least two. lnkd.in/g2rhdEAH
More reads to back up the assertion that future CEOs will have SCM backgrounds... Why supply chain professionals make great CEOs: To become CEO, according to a recent Business Insider article, the move to an operational role is a common segue for many CFOs seeking the top spot. That’s not a coincidence: many companies seek out their CEOs from roles that are operational, such as supply chain management. A famous example, of course, is Tim Cook, CEO of Apple, who was COO before becoming CEO. He is not the only one. Alan George Lafley, CEO of Procter & Gamble, took a commission with the U.S. Navy as a supply officer first, and Mary T. Barra, CEO of General Motors, is known for her strong operations and supply chain management background. Why is supply chain expertise so valuable for future CEOs?...lnkd.in/g6HJgvX3. _ Why supply chain professionals make great CEOs The metamorphosis of supply chain from a humble collection of support functions like purchasing, shipping and production to true business leadership is huge. Chief Supply Chain Officers (CSCOs) increasingly control 50% or more of a company’s annual spending, with two thirds of all employees directly reporting to the role. More importantly, CSCOs have begun to play a vital role in strategy development, product and service innovation, and even sales. Why the change? lnkd.in/gXqaMWU4 _ Supply Chain Leaders Making The Move To CEO Better supply chain management means better businesses, and better businesses make for a better world. Very few people make it to the top office of any business without first holding other major responsibilities. The chief financial officer (CFO) role is typically regarded as just such a standard precursor. However, according to a 2015 survey of CEOs in the Forbes 2000, only 13% of CEOs came over from the CFO position. Instead, the trend in recent years has been to move those CFOs into more operational roles, giving them an opportunity to bolster their hands-on abilities within the organization. lnkd.in/gp42y_Q9 How a Background in Supply Chain Can Set You on the Path to CEO Anyone who’s been paying attention knows that Supply Chain Management has emerged from its status a back-office function to become a major strategic differentiator for business. Welcome the Supply Chain CEO! lnkd.in/gxeu2a5B
I actually have employers tell me they will NOT consider a student if they do NOT have a strong professional LinkedIn presence. Hmm. How to effectively join LinkedIn. lnkd.in/dAwyTUy. I have former students that found new jobs & they were not even looking! Interviewing tools: lnkd.in/gipsXEsK. www.linkedin.com/posts/sime-curkovic-61617a115_does-your-resume-look-like-a-lazy-effort-activity-7010575035400687616-y6lS? Also, most employers will not even look at your resume if it looks like a lazy effort. Aesthetics matter! Yale advice: lnkd.in/gggJFADW lnkd.in/gxkjy3sm Harvard: lnkd.in/ghEYr3Qw lnkd.in/gc4Kd_SE MIT: lnkd.in/g3xqeDyc Personally, I prefer WMU’s Career Services manual. Also, WMU HCOB/ISM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). Keep in mind that many schools such as Harvard ($54K/yr tuition), Yale ($58K/yr), & Stanford ($57K/yr) don't offer undergrad business degrees. WMU ($13K/yr) - A Top Business School (take a look at the list): lnkd.in/dn9-BCg Should current students negotiate an INTERNSHIP offer? The avg SCM internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84 Should grads negotiate a job offer (i.e., a higher starting salary)? lnkd.in/gMJYNJkh Virtual career fairs: lnkd.in/evKd-VzQ Business externship? lnkd.in/e9aeewPa Placement success of ISM Program - *Median salary was $60K - $65K (around 10% of grads hired on w/ 1 auto OEM at $78K!). "Supply Chain"+"Degree"=jobs & $$. lnkd.in/gV4x6GWE Will technology replace SCM jobs? lnkd.in/gX8vcRNa Global Negotiation: Fastest growing class. lnkd.in/guTUcvdu A Top School: lnkd.in/dVdMRXP Sample Lectures: lnkd.in/e9j33EQ Power BI or Tableau? Do not be a victim of technology. lnkd.in/eKEaPGq lnkd.in/e5zG6sZ Here is a read on how SCM 4.0 does not have to be super expensive: lnkd.in/eyebnSct How much Python do I need to know in order to excel in SCM? lnkd.in/e6Rmzpw STAR job interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Myers-Briggs. lnkd.in/ehj3ysR For details on how to build your brand: lnkd.in/dSAA6wF Similar to MBTI: lnkd.in/ey4TEUY lnkd.in/exNDhSv Help with online interviews...lnkd.in/eKBDsMq Practice before it really matters...lnkd.in/ekaBK5Q Resume advice... lnkd.in/eWen96qj lnkd.in/e7utipBi lnkd.in/eVEHgvk6 Internships, salary data, etc. lnkd.in/eNfUzksJ Covid job market… lnkd.in/ed-ZfanD Delay graduation for experience? lnkd.in/ewKu7b_X Right time for grad school? lnkd.in/eTk-PXPv Predictive Data Analytics (Excel)…lnkd.in/dQABdsXc Problem solving #1 skill set! Elon's resume - lnkd.in/eWaJ8q2 #jobhunting #networking #interviewing
I actually have employers tell me they will NOT consider a student if they do NOT have a strong professional LinkedIn presence. Hmm. How to effectively join LinkedIn. lnkd.in/dAwyTUy I have former students that found new jobs & they were not even looking! Yes, aggressive orgs found them via LI. Some firms w/ a market cap of > $1T do this often. Interviewing tools: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of ideas. www.linkedin.com/posts/sime-curkovic-61617a115_employers-expect-a-strong-li-profile-activity-6997976884756041728-xqiA? Yale advice: lnkd.in/gggJFADW lnkd.in/gxkjy3sm Harvard: lnkd.in/ghEYr3Qw lnkd.in/gc4Kd_SE MIT: lnkd.in/g3xqeDyc Personally, I prefer WMU’s Career Services manual. Also, WMU HCOB/ISM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). Keep in mind that many schools such as Harvard ($54K/yr tuition), Yale ($58K/yr), & Stanford ($57K/yr) don't offer undergrad business degrees. WMU ($13K/yr) - A Top Business School (take a look at the list): lnkd.in/dn9-BCg Should current students negotiate an INTERNSHIP offer? The avg SCM internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84 Should grads negotiate a job offer (i.e., a higher starting salary)? lnkd.in/gMJYNJkh Virtual career fairs: lnkd.in/evKd-VzQ Business externship? lnkd.in/e9aeewPa Placement success of ISM Program - *Median salary was $60K - $65K (around 10% of grads hired on w/ 1 auto OEM at $78K!). "Supply Chain"+"Degree"=jobs & $$. lnkd.in/gV4x6GWE Will technology replace SCM jobs? lnkd.in/gX8vcRNa Global Negotiation: Fastest growing class. lnkd.in/guTUcvdu A Top School: lnkd.in/dVdMRXP Sample Lectures: lnkd.in/e9j33EQ Power BI or Tableau? Do not be a victim of technology. lnkd.in/eKEaPGq lnkd.in/e5zG6sZ Here is a good read on how SCM 4.0 does not have to be super expensive: lnkd.in/eyebnSct How much Python do I need to know in order to excel in SCM? lnkd.in/e6Rmzpw STAR job interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Myers-Briggs. lnkd.in/ehj3ysR For details on how to build your brand: lnkd.in/dSAA6wF Similar to MBTI: lnkd.in/ey4TEUY lnkd.in/exNDhSv Help with online interviews...lnkd.in/eKBDsMq Practice before it really matters...lnkd.in/ekaBK5Q Resume advice... lnkd.in/eWen96qj lnkd.in/e7utipBi lnkd.in/eVEHgvk6 Internships, salary data, etc. lnkd.in/eNfUzksJ Covid job market… lnkd.in/ed-ZfanD Delay graduation for experience? lnkd.in/ewKu7b_X Right time for grad school? lnkd.in/eTk-PXPv Predictive Data Analytics (Excel)…lnkd.in/dQABdsXc Problem solving #1 skill set! Elon's resume - lnkd.in/eWaJ8q2 #jobhunting #networking #interviewing
The U.S. supply chain accounts for 37% of all domestic jobs. “The last time the U.S. labor market was this strong was in 1969…Although mfg hasn’t seen the highest gains, the sector has one of the lowest unemployment rates across job sectors, at 2.4%. Yet the industry faces an acute labor shortage-if every skilled unemployed worker were to fill open job vacancies, a third of jobs in durable mfg would remain open.” www.linkedin.com/posts/sime-curkovic-61617a115_visualized-the-state-of-the-us-labor-market-activity-7042865244666286080-zkZf? _ WMU supply chain grads from 2022 have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. lnkd.in/gwfAHdkW lnkd.in/gyRiv9_x Entry-Level Supply Chain Positions | Avg Salary: $69,000 Mid-Level Supply Chain Positions | Avg: $115,000 Senior-Level Supply Chain Positions | Avg: $260,000 Also: Entry Level Mfg Jobs | Salary Range: $66,000 - $78,000 Mid-Level Mfg Jobs | Range: $110,000 - $143,000 Senior-Level Mfg Jobs | Range: $239,000 - $338,000 Source: lnkd.in/ga8Azij7. Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt Again, the U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5 Logistician, $74,750 Logistics analyst, $58,713 Supply chain planner, $64,844 Purchasing agent, $69,600 Purchasing manager, $121,110 Logistics manager, $114,670 Distribution manager, $94,775 Operations manager, $100,780 Business & SCM competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%. Top two: Microsoft Office/productivity tools Advanced Microsoft Excel Technical skills Among the top & fastest-growing technical skills: Data science SCM knowledge SCM Project Mgmt Our SCM students get an Analytics minor: lnkd.in/gxRayD3j Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr. Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. More $: lnkd.in/gSYKjixY. CIPS reveals a 7.4% avg increase & the avg for all SCM pros in N.A. was $111,278. Global: lnkd.in/gxbTMSyx. #supplychain #datascience #dataanalytics #college #bigdata #careeradvice
Why won’t the supply chain just adopt AI & data analytics software? AI helps manage the supply chain. So what’s the delay? Great read. They keep quoting this Curkovic guy. lnkd.in/gdkFhRST. OK, I am no sage, but notice the common themes with sages such as Mr. Jim Tomkins: www.linkedin.com/posts/sime-curkovic-61617a115_barriers-toward-adopting-ai-and-analytics-activity-6955927174734364673--p_v? www.g2.com/articles/ai-and-analytics-in-the-supply-chain "There has also been a lack of urgency in embracing digital supply networks, which is the only way to deal with perpetual disruption. End-to-end digital supply networks use artificial intelligence, machine learning and data analytics to bring visibility and actionability to every enterprise in a supply chain from raw material to finished product. This offers true optionality." "The supply chain task at hand is not an enterprise problem; it is an end-to-end network problem involving multiple enterprises. The solution does not lie with fixing one link in the chain but in devising an ecosystem where all the links of the chain work together with a real-time single version of the truth, using artificial intelligence and machine learning capabilities to beget an autonomous digital supply network." lnkd.in/gjhWUtUH ___ I wish more high rollers were doing this (& then made it cheap & easy to use for all the mom & pops): Bosch & AWS enter into collaboration to digitalize logistics lnkd.in/ghpyp5wW ___ I recently attended the Tableau Conference, where I indulged my nerdiness for four days. As a self-described data science evangelist, I was thrilled to see autoML, natural language generation, and other advanced automation features be added to Tableau, one of the world’s leading data visualization and business intelligence platforms. While there, I met people who have also bought into the data revolution and are seeing immediate impacts on their businesses’ productivity and performance. As a tech worker, exposure to data science and analytics is an everyday part of the job, but it is certainly not in the industry I research: the supply chain. So I continue to ask myself, “Why won’t the supply chain just adopt artificial intelligence and data analytics software?” In this article, I will break down the cultural and logistical barriers the supply chain faces in meeting the data analysis demands the pandemic brought on. I’ll also talk about steps that are being taken to address this and how G2 helps businesses create a modernized supply chain. lnkd.in/gi_mFCpt #supplychain #supplychainmanagement #dataanalytics #saas #datavisualization #tableau #powerbi #python #datascience #bigdata #digitization #industry4 #logistics
14%?!...“Only 14% of procurement leaders express confidence in their talent’s ability to meet the future needs of the function, according to a survey by Gartner, Inc. The finding comes as business acumen and technology/data competencies have rapidly grown in importance over more traditional procurement skills.” www.gartner.com/en/newsroom/press-releases/2023-11-29-gartner-says-only-14-percent-of-procurement-leaders-have-adequate-talent-to-meet-future-needs-of-their-function?source=BLD-200123&SM_GB_YOY_GTR_SOC_BU1_SM-BA-PR This is one reason that we created our new AI course - to create AI awareness and skills, and it is designed for non-technical majors. We will be offering that course again in spring 2024 semester. Per conversations with our CIS faculty…lnkd.in/gJ-YjJKD.
Do not be a victim of technology! You could make the case that every Business major should minor (or double major) in Data Analytics. These skill sets would perhaps include: Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). lnkd.in/guvjPb_V
Common theme: BIG DATA is not going away: lnkd.in/g5UizdeN.
In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gxHRzjkE lnkd.in/eqiqSMRb & lnkd.in/gXYSQKc7.
CIS 4640 - Business Data Mining This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. lnkd.in/geBPVWAD. Top logistics priority is hiring... lnkd.in/gWAxgdaG
14%?!...“Only 14% of procurement leaders express confidence in their talent’s ability to meet the future needs of the function, according to a survey by Gartner, Inc. The finding comes as business acumen and technology/data competencies have rapidly grown in importance over more traditional procurement skills.” www.linkedin.com/posts/sime-curkovic-61617a115_gartner-says-only-14-of-procurement-leaders-activity-7135983119236567041-aI_U? This is one reason that we created our new AI course - to create AI awareness and skills, and it is designed for non-technical majors. We will be offering that course again in spring 2024 semester. Per conversations with our CIS faculty…lnkd.in/gJ-YjJKD. Do not be a victim of technology! You could make the case that every Business major should minor (or double major) in Data Analytics. These skill sets would perhaps include: Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). lnkd.in/guvjPb_V Common theme: BIG DATA is not going away: lnkd.in/g5UizdeN. In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gxHRzjkE lnkd.in/eqiqSMRb & lnkd.in/gXYSQKc7. CIS 4640 - Business Data Mining This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. lnkd.in/geBPVWAD.
"Supply Chain" + "Data Analytics" = jobs and $$$$. In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gXYSQKc7 We do our best to go in-depth in all these three areas. Based on the feedback we received from students, they are interested in learning about all three areas & found them helpful during their job search. However, it is not possible to talk about both Tableau & Power BI visualization because of the time limitation. Therefore, we decided to cover Power BI in one section & Tableau & Tableau data prep in the other section. As you know, ETL is one of the most important skills they need for visualization. Therefore, we always teach Power Pivot a & Query, which are foundations for Power BI in both sections. There are 8 assignments in the class. At least two are about Power Query & Power Pivot and two about Visualization in Tableau or Power BI. I personally would encourage students to have an open mind on tool usage. The whole reason of teaching both Tableau and Power BI in our curriculum is backed by industry evidence, rather than by one or two individual companies. Both visualization tools have been in the best quadrant (i.e., leaders-visionaries quadrant) of Gartner’s “magic quadrant” survey for analytics and business intelligence platforms for years. So, it is not true that Tableau is not used at many companies. Kellogg’s, for example, is basically a Tableau shop. The bottom line is that it really doesn’t matter which tool students learned (as long as there is industry evidence to support the tool selection). The two tools share so many similarities. Usually one should be able to transition from one tool to another with minimal learning. I think one way going forward is probably this: If ISM students already know what tools they are going to be using at the internship or job, they might want to talk to us first before taking CIS 3640. This will help them pick the desired course section. Otherwise, it is hard for us to predict what analytics & visualization tools each student will be using and which company they will end up working. What if you are a student that wishes to learn both Power BI and Tableau, but your instructor only covers one? Unfortunately covering both in one single class will not give either one a fair coverage. In the end, students won’t have good skills in visualization. This is the reason we offer two sections, one for each tool. The good news is that Power BI is a free download. Here is what I recommend students do: 1. Download Power BI 2. Go through the video tutorials of Power BI online (e.g., lnkd.in/gEYERYay) 3. Work on class exercises and assignments in both Tableau and Power BI. Many things are available in both tools. That makes it possible to replicate certain parts of class exercises and assignments in Power BI.
Do supply chain managers need the technical skills to interact well with engineers? Why do WMU ISM supply chain graduates interact so well with engineers? Answer: We make them take engineering classes. lnkd.in/ei79SUB Engineers wanted for SCM Jobs! Watch: lnkd.in/e6U74N6k _____ A company forwarded me a job posting for an entry level position in supply chain & they especially wanted a SCM major with some of these skill sets (Special Product Procurement Specialist): 1. Collaborate with engineers, manufacturing team members, designers, suppliers, tool builders, and associates to complete Engineering Change Orders. (Our students learn this in EDMM 1420: Engineering Graphics) 2. Must be familiar in the use of common quality system processes such as sample submission, capability studies, etc. (Our students learn this in EDMM 3280: Quality Assurance & Control) 3. Basic understanding of manufacturing processes used for metal fabrication, concrete, wood, and plastics is preferred. (Our students learn this in EDMM 1500/1501: Processes & Materials in Mfg Laboratory) 4. Must possess the ability to read & interpret blueprints. (Our students learn this EDMM 1420: Engineering Graphics) 5. Must be able to add, subtract, multiply, & divide in common units of measure & have a working knowledge of data collection, data analysis, and evaluation. (Our students learn this in CIS 2640: Big data/predictive analytics) Yes, this company is located in Kalamazoo & they know they can find the talent at WMU. _____ A few months ago, I had an HR manager tell me she had two entry SCM jobs but she was hoping for a CIS type for one & an engineer for the other. I asked her what about a SCM major that has super strong data analytics skills & takes engineering classes. She then asked: Does that even exist? I said YES. Reminder: many WMU ISM students are Business Analytics minors & all are req’d to take engineering classes. Why was the WMU ISM supply chain program ranked 2nd in SCM technology by SoftwareAdvice? Answer: Because our students minor in Business Analytics - lnkd.in/er3xiWj • Minor (the most popular for our SCM students): Business Data Analytics (e.g., big data & predictive analytics, database management, data mining, project management, SQL, R, Python, PMO, Tableau, Power BI) Why do WMU ISM supply chain graduates interact so well with engineers? Answer: We make them take engineering classes. EDMM 1420 Engineering Graphics EDMM 1500 Introduction to Manufacturing EDMM 1501 Processes & Materials in Manufacturing Laboratory EDMM 3280 Quality Assurance & Control EDMM 4870 Manufacturing Productivity Techniques EDMM 4880/MKTG 4880 Applied Process Reengineering EDMM 5120 Management of Service Operations
WMU ISM students continue to get professional work experience during covid: lnkd.in/emANEgK. Thank you Senneca/Eliason, Getman, & Lane Automotive for Fall 2021 projects. Problem solving has kept moving up & is now number one! It has actually passed leadership. What is ranked #6 (answer: leadership)? Why do you think this keeps dropping in the rankings? What is ranked #5 (answer: technology, & it keeps rising)? (see Elon's resume) - lnkd.in/eWaJ8q2 Note, this study is for all business majors, employers, jobs, & college grads. You could make the case that your SCM education covers all the bases for career readiness. Here is an alarming statistic… Nearly a third of all supply chain processes are inadequate, according to research from Crimson & Co. Covid kind of brought this front and center. *For example, from a student resume: XX Corporation, XX, MI, Project-Based Course; xx 2021 - xx 2021 · Researched cutting-edge warehouse technologies for XX’s new consolidated warehouse. · Compiled AGV data that resulted in an estimated $357,350 yearly labor cost avoidance. · Project deliverables included formulating a cost-analysis excel, explaining the implementation and integration of technologies, calculating ROI/payback period, & creation of a project A3. You have to sell these skills on your resume without actually stating these skills on your resume. Does that make sense?
Note skill sets required of supply chain professionals: Solid/hard skills required in future supply chain managers include: · Project management · Technical understanding · Cost accounting skills · Ability to understand financial statements · Understanding of e-business / e-procurement systems · Troubleshooting, problem solving · Understanding of cross-cultural / global issues · Business ethics · Understanding of the legal issues involved in managing contracts Other soft skills & personality attributes required in future SCM managers include: · Ability to communicate effectively through presentations, email, one-on-one, & team discussion · Ability to logically organize thoughts · Ability as a natural facilitator to enable team-based decisions · Time management · Leadership · Understanding of customer’s expectations · Vision - creating the environment · Desire to learn · Ability to present oneself with confidence · Ability to think on one’s feet · Ability to pass on knowledge & mentoring Resume Keywords/Action Verbs: lnkd.in/ea6gV-K The WMU ISM program has teamed up with several firms to provide every student w/ a remote work experience. >200 projects since 2008. Sample Live Lean 6 Sigma Projects: lnkd.in/ejh-m3H lnkd.in/euaRn6D lnkd.in/ekhu3YHA - WMU has one of the best business colleges. STAR interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc
Thank you Denzel Tracey and Nicholas Altman, SCM majors from the University of South Florida. You took amazing initiative to make all of this happen. I had a great time with you and the future of SCM is very bright with talent like yourselves in the pipeline. Employers: start recruiting these two! www.linkedin.com/in/nicholas-altman/ and www.linkedin.com/in/denzeltracey/ Thank you again gentlemen! Sime
I am not convinced about the whole MBA thing (though the data still makes a good argument for a strong ROI)... lnkd.in/eW_F27BN lnkd.in/eTk-PXPv lnkd.in/e3EYjtsE lnkd.in/eQvfFMc lnkd.in/eX-2GgPp lnkd.in/ejRNPgfq
Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5 Many of my students have come back to school from their summer internships. Many of them received full time offers from their internship and most have accepted (5-10 months ahead of graduation!). Some of them even got a little signing bonus for pocket change. Note, most companies will only give them 1-2 weeks to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want).
Most of the job offers begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5 In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number. Advantages for students: · Rapidly learn about your industry of interest · Work on a diverse set of projects · Find a mentor & learn about your potential career trajectory · See what makes the company great Students should ask: · What are the goals of this program? · How long will the program last? · When does the Job Rotation Program Start? · Will I be a full-time employee during the program (i.e. receive paid leave, benefits, etc.)? · How many rotations will I go through, & how long will each be? · What are some rotation assignment examples? · Will I get to choose which rotations I go through or will they be assigned? · Who will I report to? · Will there be others in the program along with me? · Will there be opportunities for mentorship? · Will there be opportunities for professional development? · Will I be offered a full-time permanent position after completing the program? _____ I have soooo many students asking about STAR job interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR. More help: lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Help with online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q ______ Students are getting lots of job offers... Reneging: Once you commit, quit! lnkd.in/e85beQ2 In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege?
FYI: Female Supply Chain ISM Students… ____ Female Supply Chain students & professionals (the opportunities are endless). lnkd.in/egF4kWM For every $1 made by a man in the state of Michigan, women earn $.76 (used to be $.66). That is around the ninth largest gap in the country (we used to be third worst). Nationally, the gap is $.18. Note, the opportunities right now in SCM are endless for everyone, especially women. According to ISM's median salary data, women in the supply-chain sector earned 81 cents for every dollar that men did in 2017. The median salary for women was $88,000, compared to $108,000 for men. Experts say a range of factors play into the gender pay gap, including discrimination and different career choices. (May 29, 2018) More current data: lnkd.in/eXkTUdt The pay gap between men and women in supply chain careers that had been narrowing over the past few years reached a milestone in 2020 as women under 40 reported earning higher paychecks than their male counterparts for the first time, according to an industry survey published recently. The Association for Supply Chain Management’s (ASCM) 2021 Supply Chain Salary and Career Report polled 2,200 industry professionals about their annual pay and benefits as well as other career attributes, including job stability, satisfaction, & career opportunities. According to the report, women under the age of 40 earned a median salary of $81K annually while men in the same age group reported earning a median salary of $79K annually. Survey data for women and men over 40 painted a different picture: The difference between men and women’s salaries in that age group ranges from $12K to $23K, with men earning more. Most larger Fortune 500 types of organizations have diversity goals. However, a lot of disciplines such as IT, CIS, engineering, etc., are predominated by males and it is difficult for companies to meet their diversity goals with jobs in these areas. However, they can meet these goals for jobs that require a business degree (i.e., SCM) because there is a significant percentage of females majoring in SCM. In fact, at many schools in SCM, women make up over 50% of the students. At WMU, our female SCM students tend to be our best. Women Climbing Supply-Chain Ranks Find a Growing Salary Gap lnkd.in/eeKKSNd 2021 BEST EMPLOYERS FOR WOMEN: lnkd.in/eagsxec6
For great material and details on this, see: lnkd.in/enCSHNH lnkd.in/e88KjHM lnkd.in/eD2w7Ap lnkd.in/evpa7hT lnkd.in/ewmMats lnkd.in/ewHRVzG lnkd.in/e5zG6sZ lnkd.in/ejY_rUi
This great student got this great job. He majored in “Supply Chain” & minored in “Business Data Analytics” & “Accounting”. Note, college accounting to me is SCM Finance (a hugely important skill set for your long term advancement opportunities lnkd.in/e2TztjY). Supply Chain Data Scientist (>171,000 jobs on LinkedIn - that's all). Supply Chain Finance (>25,000 jobs on LinkedIn - that's all). __ Leveraging learning for supply chain success (lnkd.in/dBpmWj2j) Senior Brian Guadarrama has found a strong link between WMU’s integrated supply management program and incredible career opportunities. Through his classes, team projects and other hands-on experiences, he has discovered a passion for working with suppliers and customers to solve complex problems in the supply chain field. Brian, who also minors in business analytics and accounting, is ready to bring his ideas and expertise to the field, all while striving to meet customer satisfaction in an evolving industry. He has already landed his ideal job, and after graduating in December 2021, he will begin his career with Steelcase as a supplier quality engineer. “I am especially eager to use my knowledge in data modeling to provide fast solutions,” Brian says. “The variables are always changing. What was right and works today will not necessarily work tomorrow. This daily challenge of meeting customer expectations in a fast-paced environment is what I am most excited about.” Brian has been able to build a robust professional portfolio at Western. The Business Bronco has been an active member in the Supply Chain Management Association and Phi Sigma Pi national honor society and has participated in many events through the Zhang Career Center. In fact, Brian’s favorite experience at WMU Haworth has been the career exploration process, including practice interviews, resume critiquing and career fairs. A valuable part of those experiences was hearing feedback from professionals and discovering roles that would be a great fit for his goals and interests. “I have spoken with the top leadership at Steelcase, and they are moving into a unique space of data modeling to help with decision making,” Brian explains. “During my business analytics courses, we covered topics like data modeling and mining. I am excited to see where I can leverage these skills from the classroom to my career.” Another experience that stands out to Brian is an A3 project that he worked on in Dr. Sime Curkovic’s class. Used by many supply chain professionals, A3 is a continuous-improvement process that applies a strict, simple procedure to problem solving. The assignment allowed him to collaborate on real ideas, plans and goals with an existing company, which was a bonus on his resume for employers. “When I was doing interviews, this A3 course project I worked on was gold. Employers love to see you demonstrate your skills,” Brian says. Brian has some words of advice: lnkd.in/dBpmWj2j
New trend/question when managers ask me about students: How professional is their email communication & attention to detail? Hmm. Hey College Students: Do not begin an email message with “Hey” & always finish it with “Thank you.” Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s probably way more). Will Email Stand The Test Of Time? lnkd.in/gz9NTye2 Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). It might be the first impression you create! lnkd.in/ge9nGrjx lnkd.in/evaNVnbv I just saw this one from a current student & liked it... lnkd.in/gqMRPeTC Do NOT round up your GPAs, use a post script on your phones for email replies, take your email signatures VERY seriously, & use keywords on your resume.
Students should not change their official GPA for their resume. Instead, I recommend they calculate their major GPA using the courses required for their major & also list their overall GPA (especially if your major GPA is much higher than your overall & your overall is under a 3.0).
Also, a 2.96 GPA is not a 3.00 GPA. If an employer requests an official transcript be sent upon graduation (which they will), this could be labeled as "falsification of employment record" & as a result, an offer of employment can be revoked (if you round up your GPA). I am noticing that several of my students are responding to my emails via smart phones. That is fine. It is 2022 & your future employer will expect you to do the same. However, it can be cumbersome to write emails on your phone that are clean & easy to read. & sometimes, you try to write one word but another word appears that was not intended. So, please take the time to make sure your reply message looks professional & reflects positively on you. Impressions will be made based on your written communication & you will be judged. I would also recommend programming your phone so that the post script tells the recipient of your message that it was sent from your smart phone. That way people will be less judgmental if a mistake was made. You can add the message in your iPhone settings so that it will appear on all emails sent by phone but not on your email signatures sent by computer. An appropriate post script message from your phone would be: “Note: this email was sent by iPhone, please forgive grammatical errors. “
Resume Keywords Ideas/Action Verbs. Does your resume use these? lnkd.in/ea6gV-K Here are my thoughts on resumes: lnkd.in/gxEy9VkH lnkd.in/gCgi72kX lnkd.in/gKV5JYhR #careeradvice
Advice to college grads: when you start working...Spend some serious time watching your company's product be built from beginning to end (from the time materials come in until the finished product leaves the facility). Further, study in detail how a customer order is processed (from the time the order is made until your customer has the product/service in their hands). If you put several hours into this, and perhaps even map out the details, you will become a SCM genius and help your employer do all things SCM related better, faster, and cheaper. If you do this, chances are, you will identify a lot of low hanging fruit to generate deliverables and results (for your employer and your resume).
“Over time, more companies are choosing to draw from their SCM team when they are looking to fill the CFO role. Therefore, a background in SCM is the perfect preparation for a CFO career path-& possibly even the job of CEO.” CFO to CFO: Finance and Supply Chain Management:
lnkd.in/gsCibmeT
I really push my supply chain students to learn CFO talk. College Accounting to me feels like Supply Chain Finance. The Accounting Minor for our SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical. The worlds of Finance & SCM have collided. Your opportunities are endless if you learn how to talk to the CFO…lnkd.in/eJnVHrsM
My discussion on why I maybe recommend a Finance graduate degree for SCM students: lnkd.in/ewNBvPf and lnkd.in/ewA2yq7.
The good news is that industry will pay more for more strategic skills (i.e., Finance)…
Long term in your careers, understanding SCM Finance will be critical. At the end of the day, SCM executives are evaluated on generating shareholder value (bottom line financial kind of stuff, of which has gotten very creative and complicated). Also, more and more SCM VP’s (C-suite types) are reporting directly to the CFO of the company (because SCM is that important to the bottom line). Students often ask me, if they go on to get a graduate degree, what should they get it in. I say get a graduate degree in something you are weak in but will matter in your career (especially long term). You will hit a ceiling professionally if you do not understand SCM Finance. So, I would give that serious consideration in your graduate education.
The Monthly Metric: Cash Flow From Operations
A great read: lnkd.in/erfZdWk
Do you know what this means? 2/10 net 30 (now employers want Supply Chain Managers to be Financiers!!??) lnkd.in/e2TztjY
Here it comes:
lnkd.in/eNdih2e2
Supplier financing disclosure would be required under proposed accounting rule.
The trade payable arrangements, which help companies manage cash, typically aren’t publicly reported even though they pose a liquidity risk.
Creative Payment Terms & Buyer-Supplier Financing
Industry often sees suppliers complaining about cash-flow issues. But the supplier havoc, for the most part, does not need to happen. The solution might be as simple as robust payment terms & creative buyer-supplier financing. Large OEM buying orgs often try to negotiate not paying suppliers for as long 90-180 days after they actually receive material &/or services. As a function of being the customer & often larger, buying orgs often have this kind of leverage. Many large OEMs currently have cash on the sidelines & appear to be very liquid. Sitting on that cash for several months might not be necessary all the while suppliers in...for rest of story, see... lnkd.in/eJnVHrsM
#supplychain #finance #cfo
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…CEOs Will Come from an Unlikely Place: The Supply Chain...
"...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..." Note, this article (2018) was written before covid. Multiply the above statement by a factor of at least two. lnkd.in/g2rhdEAH
Great read from Zero100: Supply Chain Leader Traits That Make for a Great CEO. Executive Summary: For many years marketing and finance were the logical breeding grounds for the CEO role, but this is changing with the rise of ubiquitous digital technology and a heightened awareness of environmental impacts, especially climate change. lnkd.in/gRK3Gauh
More reads to back up the assertion that future CEOs will have SCM backgrounds...
Why supply chain professionals make great CEOs:
To become CEO, according to a recent Business Insider article, the move to an operational role is a common segue for many CFOs seeking the top spot. That’s not a coincidence: many companies seek out their CEOs from roles that are operational, such as supply chain management. A famous example, of course, is Tim Cook, CEO of Apple...lnkd.in/g6HJgvX3.
Why supply chain professionals make great CEOs
The metamorphosis of supply chain from a humble collection of support functions like purchasing, shipping and production to true business leadership is huge. Chief Supply Chain Officers (CSCOs) increasingly control 50% or more of a company’s annual spending, with two thirds of all employees directly reporting to the role. More importantly, CSCOs have begun to play a vital role in strategy development, product and service innovation, and even sales.
Why the change? lnkd.in/gXqaMWU4
_
Supply Chain Leaders Making The Move To CEO
Better supply chain management means better businesses, and better businesses make for a better world.
Very few people make it to the top office of any business without first holding other major responsibilities. The chief financial officer (CFO) role is typically regarded as just such a standard precursor. However, according to a 2015 survey of CEOs in the Forbes 2000, only 13% of CEOs came over from the CFO position. Instead, the trend in recent years has been to move those CFOs into more operational roles, giving them an opportunity to bolster their hands-on abilities within the organization. lnkd.in/gp42y_Q9
How a Background in Supply Chain Can Set You on the Path to CEO
Anyone who’s been paying attention knows that Supply Chain Management has emerged from its status a back-office function to become a major strategic differentiator for business. Welcome the Supply Chain CEO! lnkd.in/gxeu2a5B
#supplychain #ceo #csuite #advancement
More advice:
scmtalent.com/podcast-sime-curkovic
In This Episode:
We speak with Sime Curkovic, a Professor of Operations and Sourcing Management at Western Michigan University. Sime talks about his start in supply chain along with how he got into becoming a supply chain instructor. He provides an in-depth dive into the hard skills and soft skills students need in order to best appeal to what employers are looking for. In particular, he shines a light the ability to use data analytics and make better and faster decisions using the cloud-based tools available today vs. trying to work with just color-coded Excel spreadsheets. He sees supply chain as a well rounded major with lots of upside. He also places high value on hands-on, experiential learning. Sime sees hybrid work as the future, but is concerned about totally remote positions that may not provide the best value out of talent. He also encourages students to look at the big picture of where work can develop you rather than simply chasing money. He places very high value on the ability to grow your networks. Sime closes by emphasizing how setting aside time for reading can greatly impact your career.
New trend/question when managers ask me about students: How professional is their email communication & attention to detail? Hmm. Hey College Students: Do not begin an email message with “Hey” & always finish it with “Thank you.” Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s probably way more). Will Email Stand The Test Of Time?
lnkd.in/gz9NTye2
Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). It might be the first impression you create!
lnkd.in/ge9nGrjx
lnkd.in/evaNVnbv
I just saw this one from a current student & liked it...
lnkd.in/gqMRPeTC
Do NOT round up your GPAs, use a post script on your phones for email replies, take your email signatures VERY seriously, & use keywords on your resume.
Students should not change their official GPA for their resume. Instead, I recommend they calculate their major GPA using the courses required for their major & also list their overall GPA (especially if your major GPA is much higher than your overall & your overall is under a 3.0).
Also, a 2.96 GPA is not a 3.00 GPA. If an employer requests an official transcript be sent upon graduation (which they will), this could be labeled as "falsification of employment record" & as a result, an offer of employment can be revoked (if you round up your GPA).
I am noticing that several of my students are responding to my emails via smart phones. That is fine. It is 2022 & your future employer will expect you to do the same. However, it can be cumbersome to write emails on your phone that are clean & easy to read. & sometimes, you try to write one word but another word appears that was not intended. So, please take the time to make sure your reply message looks professional & reflects positively on you. Impressions will be made based on your written communication & you will be judged. I would also recommend programming your phone so that the post script tells the recipient of your message that it was sent from your smart phone. That way people will be less judgmental if a mistake was made.
You can add the message in your iPhone settings so that it will appear on all emails sent by phone but not on your email signatures sent by computer.
An appropriate post script message from your phone would be:
“Note: this email was sent by iPhone, please forgive grammatical errors. “
Resume Keywords Ideas/Action Verbs.
Does your resume use these?
lnkd.in/ea6gV-K
Here are my thoughts on resumes:
lnkd.in/gxEy9VkH
lnkd.in/gCgi72kX
lnkd.in/gKV5JYhR
#careeradvice
Reminder: Yes, it is now time to start applying & interviewing for summer internships. Companies get budgets for internships approved months ahead of time & they often recruit nationally for the best talent. Some want to get this wrapped up by the end of the year, but you have to start looking now. Do not wait until Spring 2023 to find a Summer 2023 internship. Note, around ½ my students line up summer internships in the Fall & the other ½ during the Spring (so, it’s never too late). Just look at how demand > supply…
There are already > 20,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE & lnkd.in/gt98WuvK & > 60,000 business related internships.
lnkd.in/gmMH5myb
PERHAPS delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb
lnkd.in/gARup7zr
lnkd.in/g4-csGUy
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr).
Over half our students are making over $20/hr. I firmly believe the program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16 per hour. Why would any company want to pay 20-30% below avg?
I have soooo many students asking about STAR job interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR.
More help:
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Help with online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq
Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q
Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5
Students are getting lots of job offers...
Reneging: Once you commit, quit! lnkd.in/e85beQ2
In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege?
Recent observations & career advice (videos/podcasts):
lnkd.in/gJK8xBZe
lnkd.in/g-CanjDx
lnkd.in/gvPiGTt5
Tips/advice from this college professor (aka, educated idiot):
1. Read. People that read a lot make more $ (2.3 times more?!)
lnkd.in/ggBDzJrp
2. Learn the job saving technology.
lnkd.in/eu7ANq6
lnkd.in/gE3wp6JU
3. Learn to interview well.
lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
Being job ready…
lnkd.in/ed-ZfanD
4. Learn to negotiate ($).
lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu
5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR
lnkd.in/dAwyTUy
lnkd.in/gFa3iCsg
6. Delay graduation for experience. lnkd.in/ewKu7b_X
7. Learn to problem solve - lnkd.in/eWaJ8q2
lnkd.in/gSVTKmwC
8. Double Major? lnkd.in/gAViGTVG
lnkd.in/gqAE9u8W
9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty
lnkd.in/gA9KH-Ff
10. Job rotations? lnkd.in/ervskG5
11. 10 college majors that earn the most money: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU.
12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ
lnkd.in/gsKyJ9rn
13. Get certified as a subject matter expert:
lnkd.in/g3yfkvQr
lnkd.in/gVbQV2q7
14. Learn to talk CFO talk:
lnkd.in/gtve9xTM
#internships #careeradvice #interviewing #supplychain
Great read…Translation: Success = Pick the right major (i.e., demand > supply) + Get work experience (i.e., internships related to major) + Pick the right first job (i.e., they pay a premium for your major because of supply/demand conditions and you are job ready day one because you have professional work experience).
www.wsj.com/lifestyle/careers/college-degree-jobs-unused-440b2abd
Half of College Grads Are Working Jobs That Don’t Use Their Degrees
Notice:
“More than any other factor analyzed-including race, gender and choice of university-what a person studies determines their odds of getting on a college-level career track. Internships are also critical.”
I chuckled at this one: "He also regrets taking an entry-level sales job in logistics after months of fruitless job hunting after graduation."
“Bachelor’s degree holders in college-level jobs earn nearly 90% more than people with just a high-school diploma in their 20s.”
“…most of the graduates who don’t find work reflecting their degrees are what they call “severely underemployed, meaning they’re in jobs that only require a high school education or less.”
Picking a college major:
lnkd.in/eX8XUHxj
Notice SCM made the list: #5. Supply Chain (Logistics): $52,290.
finance.yahoo.com/news/majored-one-18-subjects-ll-193945292.html
Note, WMU SCM grads (2022) have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. I have been trying to explain SCM to high schoolers. It’s not that easy. Parents like to see this: the number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022: lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review: lnkd.in/gbV_aMT7.
“Employers are fed up with college 'waste,' opt for skilled blue-collar workers instead”…Really? lnkd.in/gR5pNeDe.
Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu.
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch.
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2 & lnkd.in/gH3jSWKt.
90% of 2023 graduates think college is really worth it. lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Professional experience that pays well while in college?...Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gR5pNeDe.
Goals of an internship (it’s not job shadowing): lnkd.in/gMtdr92u.
If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well: lnkd.in/g8n-dCz2
hashtag#college hashtag#major hashtag#careers hashtag#supplychainmanagement
Mid-Level Supply Chain Positions | Average Salary: $115,000
Senior-Level Supply Chain Positions | Average Salary: $260,000
Nice supply chain website. My students ask great questions when it comes to…money. Recently, someone asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic.
Entry-Level Supply Chain Positions | Average Salary: $69,000
Also:
Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000
Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000
Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000
Source:
lnkd.in/ga8Azij7
__
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. lnkd.in/dkGr4_uX
Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. Salaries per "ASCM" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr
People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year."
Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7.
SCM $ Information -
lnkd.in/gn5jM9xt
lnkd.in/gTBMP5dM
lnkd.in/eQvfFMc
lnkd.in/g7YamZCU
#supplychain #job #salary #manufacturing #logistics #procurement
Interviewing tips. If you missed it, this is cool (I think)…Google's "Interview Warmup" asks practice job interview questions, then gives feedback on your spoken answers. If you can’t practice w/ another human for an upcoming job interview, Google has a new solution: Talk to its computer.
Also worth noting: @LinkedIn has a similar feature where you can practice by recording an answer to an interview question and 1) get immediate AI feedback, or 2) send it to someone in your network for personal feedback. lnkd.in/d8YGspvf
Get Instant AI Feedback to Improve Your Interview Answers
Also, I have soooo many students asking about STAR job interviews & online robots…lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR.
Star Method:
Tell me of a time when you had to work within a group where the members did not get along? How did you handle the situation?
More help:
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Help w/ online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq
Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q
Note, it is my understanding that these robot interviews are simply being used to weed out students. Also, that does not mean there is anything wrong w/ you if you do not get a face to face and/or onsite interview with a hiring manager. These robot interviews often simply are trying to develop a psychological profile of you & hence the weird questions. Some of these questions might be: what was the first thing you did this morning? Or what would you do if you saw someone bleeding heavily at work? The companies that use these might be trying to see if their corporate culture is a good fit for your profile. So, do not take the results personally, but learn as much as you can & get better at them (because they are not going away).The WMU website below is actually a very good link for that purpose.
WMU has a service through Big Interview that has students get real life practice interview that get recorded & submitted. (I believe this is similar to Hirevue). Students can practice with Big Interview & come talk to HCOB advisors.
lnkd.in/eKBDsMq
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
lnkd.in/eNfUzksJ
Interviewing tools: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of ideas. A Top Business School (take a look at the list): lnkd.in/dn9-BCg
Being job ready…
lnkd.in/ed-ZfanD
What do SCM internships pay? lnkd.in/e8pfXtC
Delay graduation for experience? lnkd.in/ewKu7b_X
93% of WMU grads are employed or continuing education. lnkd.in/gabdesWa
Sample Lectures:
lnkd.in/e9j33EQ
Follow: lnkd.in/gejqpRrP
#careerguide #interviewing #interviewtips #careeradvice
Should we teach Tableau or Power BI or both? In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/eqiqSMRb &
lnkd.in/gXYSQKc7.
We do our best to go in-depth in all these 3 areas. Based on the feedback received from students, they are interested in learning about all 3 areas & found them helpful during their job search. However, it is not possible to talk about both Tableau & Power BI visualization because of the time limitation. Therefore, we decided to cover Power BI in 1 section & Tableau & Tableau data prep in the other section. As you know, ETL is 1 of the most important skills they need for visualization. Therefore, we always teach Power Pivot a & Query, which are foundations for Power BI in both sections. There are 8 assignments in the class. At least 2 are about Power Query & Power Pivot & 2 about Visualization in Tableau or Power BI.
I personally would encourage students to have an open mind on tool usage. The whole reason of teaching both Tableau & Power BI in our curriculum is backed by industry evidence, rather than by 1 or 2 individual companies. Both visualization tools have been in the best quadrant (i.e., leaders-visionaries quadrant) of Gartner’s “magic quadrant” survey for analytics & business intelligence platforms for years. So, it is not true that Tableau is not used at many companies. Kellogg’s (a major local employer), for example, is a Tableau shop.
The bottom line is that it really doesn’t matter which tool students learned (as long as there is industry evidence to support the tool selection). The two tools share similarities. Usually one should be able to transition from one tool to another w/ minimal learning.
I think one way going forward is probably this: If students already know what tools they are going to be using at the internship or job, they might want to talk to us first before taking CIS 3640. This will help them pick the desired course section. Otherwise, it is hard for us to predict what analytics & visualization tools each student will be using and which company they will end up working.
What if you are a student that wishes to learn both Power BI & Tableau, but your instructor only covers 1? Unfortunately covering both in 1 single class will not give either one a fair coverage. In the end, students won’t have good skills in visualization. This is the reason we offer 2 sections, one for each tool. The good news is that Power BI is a free download. Here is what I recommend students do:
1. Download Power BI
2. Go through the video tutorials of Power BI online (e.g., lnkd.in/gEYERYay)
3. Work on class assignments in both Tableau & Power BI. Many things are available in both tools. That makes it possible to replicate certain parts of class assignments in Power BI.
Our students are going into a job market inundated with outdated processes. Manual and labor-intensive operations will force them to spend hours every week doing repetitive tasks that could be automated for much greater efficiency and accuracy, allowing them to focus on more fulfilling work. The majority of their time will be spent gathering data, while much less will be spent analyzing and providing insights to support strategic decision-making.
For example, during these inflationary times, it is time for business faculty to start teaching the lost art of Price Analysis and Strategic Cost Management (in very different ways). I have asked a lot of business managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), Commodity Exchange (COMEX), London Metals Exchange (LME), New York Mercantile Exchange (NYMEX), etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process.
Surprised by price increases? As much as 70% of current contracts have price increase provisions! In the WMU supply chain management program we teach our students to track commodity forward price curves. We now look at raw material market data from multiple sources, visualize and analyze historical pricing scenarios, and simulate planned purchases and what-if scenarios against forward price curves.
How do we better prepare our business students to be job ready day one? Procurement organizations need processes and “tools” to mitigate and negotiate on these price increase requests in a strategic, data-driven manner (and academics need to do a better job of teaching it). Traditionally, we have worked very hard to help our students develop very sophisticated data analytics skill sets to manage these very large and complicated forms of information.
Employers place a premium on these business analytics skill sets and would include:
Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
See our Business Analytics minor at:
wmich.edu/infosystems/academics/analytics
However, I would recommend complimenting the above skill sets with bringing in some cloud-based software and technology that gets us beyond manually updating and coding giant colored Excel spreadsheets. For example, I have been collaborating with N-Alpha and they have a cloud platform called materialx that I am bringing into the classroom (n-alpha.com/solutions/decision-support/). It gets us away from manually updating spreadsheets. Further, these technology software companies tend to be very supportive in helping faculty and students as these students will eventually become the future business professionals that actually use the technology (win-win-win, right?). And the technology is out there!
We will soon have some white papers from our WMU SCM program based on the following price analysis & strategic cost management research. Some of our alumni are already testing and / or implementing these cloud-based services that allows procurement organizations, finance, and all other organizations that are exposed to raw material pricing changes, to stay on top of market pricing from multiple sources and proactively assess its impact on future raw material purchases.
These technologies are also now serving as the basis for addressing price indexing implementations (formulas, alerts, etc.). It can all be done automatically and updated daily, saving hours from manually updating spreadsheets. These tools are quick and easy to use to prepare for price negotiations with suppliers, and often returns its investment (which is minimal to begin with) rapidly. These technologies also allow organizations to replace multiple spreadsheets and email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions and what led to them, and capturing organizational knowledge.
I have asked many of my former students what are the most prevalent technologies used in your supply chain and business role. The two most common answers are Excel spreadsheets and email. It is 2023 now and we need to move further along. You could make a strong case that using antiquated business tools was a major source of supply chain disruptions the last few years.
My former students keep telling me they are the “Excel Spreadsheet” generation. Excel works and they have very advanced spreadsheet skills. They also tell me that it gives them a competitive advantage in the workplace (i.e., people depend on their monthly report outs per se and very important people read them). The older managers have very weak Excel skills and even the younger graduates coming in have to play catch up to the people that are in their 30s and 40s (that have very advanced Excel skills). My former students also feel very comfortable with Excel. Many of these spreadsheets are their own creation and they find it empowering. In general, it works, it works well, it gets the job done, they feel comfortable with this version of technology while most others do not feel comfortable with it, the technology itself is cheap, and it gives them job security. Some said it took years to build up these spreadsheets, and now they are up and running. However, as I teach my current students, there are alternatives rooted in technology that will allow you to do things better, faster, and cheaper.
Final Thought
In talking with a colleague, we both agreed that many hiring managers do not have a full understanding of the Artificial Intelligence (AI) skill sets associated with our graduating students. Our business students told us many times that their hiring managers valued only the traditional Excel capabilities (i.e., lookup functions, pivot tables, etc. - however, that is NOT AI). Managers also greatly overlook the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go beyond our Advances Excel and Predictive Analytics courses. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on.
Hopefully we do a better job of training our students to “sell” the AI skills and managers become more open to embracing the benefits (which might require a culture change). Embracing and trying new technologies requires leadership that is willing to try new things. Otherwise, we keep using spreadsheets and email to manage very large and complicated data sets.
Some 2022 WMU SCM student success stories…1. Dylan Sing is a team player as a student athlete on the WMU men's soccer team & as a SCM major. lnkd.in/ggqPmMyw. 2. SCM student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit.
lnkd.in/d5UEQVJV
3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in supply chain management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY
8. Jessy Mutombo: Going the extra mile. lnkd.in/gU_Mag6i
9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ
10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
#supplychain #careeradvice #career #supplychainmanagement
*2.4M SCM jobs to remain unfilled between 2018 and 2028
*44M people employed in SCM jobs, making up 37% of the job market
*A third of current SCM workers have hit retirement age
>20,000 jobs on LinkedIn not filled w/ "entry-level supply chain" in job title
>35,000 jobs not filled w/ these words- “supply chain” & “analyst” & “data analytics”
113,000 unfilled jobs in Indirect Procurement & > 4K MRO Buyer jobs not filled
Supply Chain Data Scientist (>171,000 jobs on LinkedIn - that's all)
Supply Chain Finance (>25,000 jobs on LinkedIn - that's all)
>10,000,000 (10M) jobs not filled in the U.S., ½ are in SCM
The unique curriculum of the WMU ISM program is the result of integrating supply chain, information technology, continuous improvement and engineering curriculum from five departments across two colleges.
Curriculum includes 13 supply-chain-specific courses (43 credits)-more than other well-known programs.
Required courses include one dedicated to learning ERP systems and processes by using SAP.
All students take Try-Z, an intensive, three-day capstone course in which student teams use Deming’s Plan-Do-Act management cycle.
ISM majors are required to obtain professional work experience, such as internships, prior to graduation.
Students have an opportunity to obtain a Lean Six Sigma Green Belt by completing an industry project using DMAIC.
As of 2019, close to half of ISM majors are Business Analytics Minors (e.g., big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI).
Supply chain management major coursework:
MGMT 2800-Intro to Supply Management
MGMT 3200-Managing ERP Systems (SAP)
MGMT 3810-Experiential Live Six-Sigma Lean Problem-Solving (DMAIC & A3)
EDMM 3280-Quality Assurance and Control
EDMM 1420-Engineering Graphics
EDMM 1500/1501-Intro to Manufacturing/Processes and Materials in Manufacturing
MKTG 3720-Sourcing and Purchasing
MKTG 4630-Supply Chain Logistics
MGMT 4640-Production Management and Control
LAW 4840-International Business Law
or LAW 4860-Marketing and Sales Law (Advanced Contract Negotiation)
GEOG 3010-Fundamentals of Geographic Info Systems
or EDMM 4870-Manufacturing Productivity Techniques
or EM 5120-Management of Service Operations
EDMM 4880 or MKTG 4880-Applied Process Reengineering (Try-Z)
Minor/Major: Business Analytics (e.g., big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI)
Where do students end up?
JOB TITLES
Supply Chain Specialist
Business Services or IS Consultant
Global Purchasing and Supply Chain
Buyer
Procurement Coordinator
Strategic Sourcing
Commodity Manager
Procurement Coordinator
Procurement Analyst
ORGANIZATIONS
Rolls Royce, General Dynamics, Monsanto, BorgWarner, Whirlpool, John Deere, General Motors, GE Aviation, Hormel Foods, Hydro Aluminum, American Airlines, Kellogg’s, Pepsi, Eaton, IBM, JB Hunt, MANN+HUMMEL, Apple, Gentex, Marathon Petroleum, US Army, Coca-Cola, 3M, J.B. Hunt, Parker Hannifin
As of 2019, average starting salary is around $62K. Since 2012, the auto and aerospace industries have hired very aggressively. One OEM starts students at $75K.
Also, our new SCM major curriculum is well underway (and now ALL majors can minor in supply chain...all products and services have a supply chain).
Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For
a long time, we required a single procurement class & a single logistics
class. They simply were not enough as one class left little time to focus
on the strategic issues. So, starting in Fall 2023, our SCM majors will be
required to take 2 sourcing classes & 2 transportation classes.
The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics $ Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Mgmt Program:
MKTG 2750 Global Negotiation
SCM 2200 Enterprise Resource Planning Systems
SCM 2800 Introduction to Supply Chain Mgmt
SCM 3000 Production Planning
SCM 3030 Procurement Mgmt
SCM 3050 Logistics and Transportation Mgmt
SCM 3800 Continuous Improvement Theory & Practice
SCM 3810 Applied Continuous Improvement Project
SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required)
SCM 5050 Strategic Transportation Mgmt
CIS 2640 Applied Analytics Foundations
Or a minor in Business Analytics
lnkd.in/eprKKbF
lnkd.in/gp6VX_e3
What skills come with the Business Analytics minor?...
1. Adv Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source:
lnkd.in/gPqvNwG5
Logistician, $74,750
Logistics analyst, $58,713
Supply chain planner, $64,844
Purchasing agent, $69,600
Purchasing manager, $121,110
Logistics manager, $114,670
Distribution manager, $94,775
Operations manager, $100,780
Business and supply chain competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%.
Top two:
Microsoft Office and productivity tools
Advanced Microsoft Excel
Technical skills
Among the top and fastest-growing technical skills are:
Data science
Supply chain knowledge
Supply chain management
Project management
Many of our SCM students get a Business Analytics minor, what does that mean? See:
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
From me: AI will have a great impact on SCM. However, one thing often not mentioned is the attitude of hiring managers, as many do not have a full understanding of the AI skill sets of graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities (lookup functions, pivot tables, etc. - that is NOT AI), & they greatly overlooked the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go BEYOND our CIS 2640 (Excel on steroids) - Applied Analytics Foundations.
For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills & managers (SCM Leaders) become more open to embracing the benefits (which might require a culture change).
#supplychain #dataanalytics #datascience #python #artificialintelligence #ai
Updated on Dec 13, 2023 : “Salary.com cite a median salary of $160,147 in the US, while Indeed lists an avg salary of $91,223. The job growth rate for logisticians is high, at 28% between 2021 & 2031. Compared to the job outlook for all occupations which is at 5.3%, that is a promising figure for aspiring supply chain managers.”
www.coursera.org/articles/supply-chain-manager-salary
Education
“Attaining higher education typically yields higher pay. For supply chain managers, a bachelor’s degree at minimum is recommended. Zippia reports that 70 percent of supply chain managers have a bachelor’s degree, while 17 percent have a master’s degree, and 9 percent have an associate degree. Only 2 percent have just a high school diploma....With the following education, you can expect to earn this amount as a supply chain manager:
· Associate degree: $92,543
· Bachelor’s degree: $108,240
· Master’s degree: $118,982
· Doctorate degree: $124,654
Nice SCM salary report summary:
lnkd.in/gtXUfBJg
Great read. Wow…”For the 2nd year in a row, a mere 19% of professionals are highly likely to encourage their child or the child of a close friend to pursue a career in transportation or logistics. When asked why they would not recommend a career in logistics and transportation, participants cited concerns about career progression, work-life balance, salary prospects, and industry volatility.” See:
lnkd.in/gU2vEA6Q
hashtag#salary hashtag#supplychainmanagement hashtag#logistics hashtag#careers
Graduate Program Salary & Placement Trends
Salary:
• Supply chain MBA average salary is $91,949, up from $88,935, in 2018
• MSSCM average salary is $85,879, up from $83,066
• Top ten schools → MBAs average well above $100K; many MSSCMs also
Placement:
• 45% of students are already employed and plan to continue to work for their employer post-graduation
• 42% secure a new job prior to graduation and 18% were employed by three months after graduation (average totals will exceed 100%)
If you lack these skills, go get your MS in Data Analytics before you miss the boat. These skills would include: big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI, etc. Fortunately, most of my undergrads walk away with these skills. Just like AI, the boundaries of what is and what is not Industry 4.0 (supply chain 4.0, digital transformation, digitized supply chain, etc.) is quite blurry. These days any product with even a tiny element of AI/ML is claimed to be an AI product.
Note, most mini MBA’s have an entire course dedicated to SCM Finance. Good luck climbing up the corporate ladder if you cannot talk to your CFO. I like SCM Finance so much, I encourage my students to get a graduate degree in Finance if they already have world class technology skills & a SCM background.
If SCM professionals lack Finance skills, they will hit a ceiling professionally:
th-cam.com/video/sRl2O5YI2h8/w-d-xo.html
This is a great read that helps explain why a Finance graduate degree might make sense for a SCM professional:
Great read:
www.ismworld.org/supply-management-news-and-reports/news-publications/inside-supply-management-magazine/blog/2021/2021-01/the-monthly-metric-cash-flow-from-operations/
Effective in February 2023, CPIM will be reconfigured under version 8.0 moving from two courses & two exams to one. Students: 3 supply chain orgs you can join (ISMworld.org-$35, CSCMP.org, $40 & ASCM.org for free!). SCM pros w/ at least 1 APICS cert have a median salary of $90K, which is 27% higher than those w/o a cert. (according to the 2021 Career Report). lnkd.in/eTfdkA94
I would highly encourage you to join orgs related to what you are majoring in. Send the message to employers that you plan on being an engaged member of your discipline. Also, these orgs have certs which can be used to externally validate you as a subject matter expert. Send the message to employers that you are aware of these certs & these certs are a part of your career goals.
Further, all these SCM orgs have monthly local chapter meetings w/ guest speakers that you can attend as a student. It is a great way to learn & network. I have had several students attend these mtgs & managers asked for a copy of their resume because these students showed so much initiative. You will also have access to their websites which has job postings & lots of SCM research that will help with your classes. Lastly, they will mail you magazines that tell you what is happening in your field so you can stay current.
My colleagues helped me put this list together for my non-supply chain majors. Industry Certifications & Associations for Various Business Majors: lnkd.in/gVbQV2q7
Here is one of the most popular orgs related to your major (especially if you go into procurement, though all 3 orgs have become very well rounded)...
Institute of Supply Mgmt (used to be National Association of Purchasing Mgmt)-$35/year
lnkd.in/ex3NXgdM
lnkd.in/erPSEX_J
Also:
Here is another degree related org that you can join ($40) to network & look for job opportunities. You will be competing against other students from other schools that have these on their resume.
Council of Supply Chain Mgmt Professionals (used to be the Council of Logistics Mgmt)
lnkd.in/emHHiJAY
One more high profile club for SCM students & managers (free for students):
The Association for Supply Chain Mgmt (used to be APICS, the Association for Operations Mgmt)
www.ascm.org/
lnkd.in/eC3sfQxK
lnkd.in/ef8X2xPK
Certified in Logistics, Transportation & Distribution (CLTD): lnkd.in/dt3EteBd
Also, resume advice...
lnkd.in/eWen96qj
lnkd.in/e7utipBi
lnkd.in/eVEHgvk6
FYI, other SCM orgs:
lnkd.in/ec4fYYSY
lnkd.in/ec4fYYSY
www.cips.org/usa/
werc.org/
www.lean.org/
isssp.org/
www.iwla.com/
www.rla.org/
www.nitl.org/
www.mhi.org/
lnkd.in/eFpUvsgC
ibf.org/
www.nam.org/
www.ame.org/
lnkd.in/efBdJkBi
www.trucking.org/
$$:
lnkd.in/eBd-cRr
lnkd.in/enTTEt_m
#supplychain #careeradvice
12 Tips/advice from a college professor (me):
1. Read. People that read a lot make more $ (2.3 times more?!)
lnkd.in/ggBDzJrp
2. Learn the job saving technologies (i.e., data analytics).
lnkd.in/eu7ANq6
3. Learn to interview well (i.e., STAR).
lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
Being job ready…
lnkd.in/ed-ZfanD
4. Learn to negotiate ($).
lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu
5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR
lnkd.in/dAwyTUy
For details on how to build your brand: lnkd.in/dSAA6wF
6. Delay graduation for experience. lnkd.in/ewKu7b_X
7. Learn to problem solve - lnkd.in/eWaJ8q2
8. Double Major? lnkd.in/gAViGTVG
9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty
10. Job rotations? lnkd.in/ervskG5
11. 10 college majors that earn the most money: lnkd.in/gEXGmFfU
12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ
11 trendy things we are doing in the WMU ISM supply chain program… 1. Global Negotiation: The fastest growing class in the WMU ISM program - lnkd.in/guTUcvdu
___
2. Getting hit with a price increase? We will be looking at raw material market data from multiple sources, we will visualize and analyze historical pricing scenarios, & do some simulating on planned purchases & what-if scenarios against forward price curves. Managers love this cloud platform. lnkd.in/gJnbxSBk
___
3. We use LLamasoft - which is now part of Coupa. The software, called Supply Chain Guru, is used as a network design software to build, model, & test the “best” supply chain networks based on total cost & customer demand. Additionally, students have access to Coupa’s online learning platform where we use various SCM learning modules to enhance class learning.
___
4. Through a hands-on ERP/SAP software configuration project, students learn how information tech can help a firm manage its business processes. Mgmt issues associated w/ implementing & managing ERP systems, such as project mgmt, configuration control, training, system testing & change mgmt, are explored. ScrimmageSim is also used & is a simulation that is designed to operate like a real company’s ERP system.
___
5. Students continue to get professional work experience during covid w/ “A3” & “DMAIC” projects. Problem solving has kept moving up & is now #1 as the most sought after skill set by employers!
lnkd.in/g_nGqv-u
___
6. Fall 2022: We will be offering Lean Six Sigma Continuous Improvement Certifications to undergrad supply chain students in our capstone Applied Process Reengineering class.
___
7. We teach Indirect Procurement from an industry standard that we helped create. 113,000 unfilled jobs in Indirect Procurement on LinkedIn, & > 4,000 MRO Buyer jobs not filled!
lnkd.in/gFrGvpCA
___
8. We teach ArcGIS Pro technology & other SCM risk tools such as FMEA. lnkd.in/ghC4p2hP and lnkd.in/eGtJhvRy
___
9. Why do our grads interact so well w/ engineers? We make them take engineering classes. lnkd.in/gf7q_3PF
___
10. SCM+NPD=Competitive Advantage. WMU has one of the best Product Design Programs in the world & ISM is going to collaborate w/ the program’s transdisciplinary approach to incorporating product design w/ engineering & business principles (i.e., SUPPLY CHAIN MANAGEMENT). lnkd.in/gvdUGFvC
___
11. And of course, Business Data Analytics:
*Advanced Excel (power query & power pivot) & macros
*Data visualization (Tableau, Power BI and python with seaborn & matplotlib)
*Data mining, machine learning & data science
*Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy)
*Relational data models (Excel data model)
*Graphic & statistical libraries (Seaborn, Matplotlib, Pandas,& Plotly)
lnkd.in/gf_UWz5x
lnkd.in/gKV4dw2z
lnkd.in/gHnUrVZz
lnkd.in/g9pgFErz
Still feels like a seller’s market for my students. The 10 fastest-growing jobs in the U.S. right now-many pay over $100,000 a year: lnkd.in/g7TNMeja. From Gartner 2022 (2 yrs ago data):
Starting salaries for students in supply chain roles also increased. In terms of compensation, U.S. SCM undergraduates finding their first jobs in supply chain roles are earning about $1,600 more per year than in 2020. While the average starting salary is $61,769, graduates from the top 10 programs can expect around $65,000. The highest salary from the ranked schools was $80,000.
Well, that avg now is closer to $70K. Also, we just had a student get offered $87K, no job rotation (straight into a full time role as she is already loaded with work experience), $8,700 signing bonus, and immediately bonus eligible at 9%.
I talked to one student in the Fall that was given a job offer in Sept. (one month to decide) & he accepted. Yes, he had a summer internship with them. He is a SCM major w/ a Data Analytics minor. $72K base, $14K in relocation, 20% of base bonus eligibility, 4 weeks paid vacation, & a 3 year job rotation (3 jobs in 3 years, and he gets to choose the locations - further, they encouraged him to pick areas outside of his major such as Finance, Engineering, etc., so that he could learn new things & become more cross-functional). Under most circumstances I would encourage my students to negotiate something, but what is there to negotiate lnkd.in/gkmB6BQa.
Exploding job offers and job rotations:
lnkd.in/gSYZ_PBD
lnkd.in/gZQRfZmr
lnkd.in/ervskG5
What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g8cAcBh3.
The jobs paying six figure salaries to help lead supply chain disruptions: lnkd.in/gU9VhJEG.
lnkd.in/g8n-dCz2
If you want to specialize in data & become a Supply Chain Analyst (25,000 jobs on LinkedIn) / Supply Chain Data Scientist (171,000 jobs on LinkedIn - that's all), Python is a must-have skill.
A while back, I made these points about our CIS 2650 class (Programming for Data Analytics) and our Business Data Analytics minor in general. Do these points still largely apply?…
CIS 2650 is not just a Python class, but instead a Python class for analytics. There is a difference there. In a traditional Python class, people teach Python straight for the whole semester with so much of syntax, data structure, software development, etc. That type of class is mostly designed for CIS and CS. What we do is different. It is Python in a popular analytics platform (more technically speaking, it is Python in Jupyter, which is an analytics platform that data science and business analytics programs do).
· We studied the top skills in analytics jobs & Python was among the top skills.
· The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools.
· Tableau & Power BI recently added Python or Python+Jupyter because certain Python analytics & visualization are not available in Tableau and Power BI. Using them together makes it a powerful analytics solution (e.g., the ability to transform visualization into implementable actions).
· All data scientists stress the importance of Python in analytics programs. Note, “data scientist” is one of the fastest growing career paths with escalating salaries because not enough people are good at this stuff.
· Python are “R” are both number one & two in analytics, but Python is easier to learn compared to R.
· Past experience in our SCM program (3+ semesters of experience in CIS 2650) shows that non-technical students (SCM, marketing, accounting, etc.) are able to handle the content that we designed.
· Python + Jupyter (or its variant) are used in Big Data (Hadoop, Microsoft Azure, Amazon AWS, etc.). It can also be used with/on SAP HANA, IoT, AI, Blockchain, and smart contracts to implement supply chain visibility, and other SC related solutions, etc.
We believe the above points are still valid. Here are some evidences:
· We studied the top skills in analytics jobs & Python was among the top skills.
· Python is among the top skills for data analysts (Skill number 4 in the list): lnkd.in/e6r8_KBy
· lnkd.in/e7xyUYGs
· The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools.
How much Python do I need to know in order to excel in SCM?
lnkd.in/e6Rmzpw
Will technology replace supply chain jobs?
lnkd.in/eu7ANq6
Python is coming to Excel?!…Wow, as a supply chain professor that pushes data analytics on our students, I am trying to make sense of this. I suspect this is going to be a VERY big deal for our CIS faculty and students as they have been waiting for this kind of support for…2 decades? While Excel is powerful, it hasn’t provided “native” tools for adv analytics like ML. By integrating Python - a language known for its rich libraries in data science - Excel could be considerably enhanced. If they bring in scikit-learn, statsmodels, etc., this will become a reality, as they both are popular Python libraries used extensively in the fields of data analysis, statistics, and machine learning.
Announcing Python in Excel: Combining the power of Python and the flexibility of Excel:
techcommunity.microsoft.com/t5/excel-blog/announcing-python-in-excel-combining-the-power-of-python-and-the/ba-p/3893439
I do wonder, if the Python code is going to be run in the Microsoft cloud, what will the pricing structure look like? By integrating cloud-run features, MSFT could introduce new pricing structures, potentially influencing the adoption rate of these new features. The way MSFT structures its pricing for cloud-run Python code will be a significant factor in the adoption rate. Orgs might be cautious if the costs are perceived to be high.
The next milestone we should be watching for is whether the Python code can be run on-premise or a local machine. The ability to run Python code locally vs. on the cloud would influence the adoption and usage of these features. Running code on-premises can often be essential for businesses w/ data security concerns. Technically, it is possible since the partnership is with Anaconda. Anaconda is a popular Python distribution platform that provides tools for data science and machine learning. The mention of a partnership with Anaconda suggests that the integration will not just be basic Python scripting but may offer more advanced features.
It is just whether Microsoft is willing to do that at the expense of sabotaging their existing market of their decades old VBScripting language. There is a potential conflict of interest for Microsoft. VBScript (and more broadly, VBA) has been the primary scripting language in Excel for decades. By integrating Python, Microsoft may be shifting away from its longstanding support for VBA, which might not sit well with longtime users. However, it’s also possible that Microsoft might maintain dual support for both languages for a while to ease the transition.
More thoughts at:
www.simecurkovic.com/2023/08/23/python-is-coming-to-excel/
The 16 worst-paying college majors, five years after graduation: lnkd.in/eTyx7YpW. But…If You Majored in One of These 18 Subjects, You’ll Likely Have a Comfortable Retirement: lnkd.in/e2nireWR. Notice SCM made the list: #5. Supply Chain (Logistics): $52,290. Note, WMU SCM grads (2022) had a median wage range of $65-$75K. lnkd.in/dkGr4_uX.
I have been trying to explain SCM to high schoolers. It’s not that easy. Parents like to see this: the number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022: lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review: lnkd.in/gbV_aMT7.
“Employers are fed up with college 'waste,' opt for skilled blue-collar workers instead”…Really? lnkd.in/gR5pNeDe.
Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu.
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch.
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2 & lnkd.in/gH3jSWKt.
90% of 2023 graduates think college is really worth it. lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Professional experience that pays well while in college?...Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gR5pNeDe.
Goals of an internship (it’s not job shadowing): lnkd.in/gMtdr92u.
If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well: lnkd.in/g8n-dCz2
hashtag#supplychainmanagement hashtag#supplychain hashtag#logistics hashtag#careers
Reads…
How should companies use competitive bidding?
lnkd.in/gS9vCRQ6
Assume a supplier estimates the following costs on an RFQ
lnkd.in/gxFBz3_U
ROI and Your Core Competency (i.e., SCM?)
lnkd.in/euh2rFdU
To stay competitive, companies are forced to outsource commodities and focus on their core competency
lnkd.in/g-DHtt8X
The primary elements for sourcing a supply partner
lnkd.in/ga2xtDsi
What does it mean to be hollow? Sourcing Strategy matters!
lnkd.in/gHB-nzeJ
The most reprinted article in the Harvard Business Review: The “Core Competence” Article
lnkd.in/gDsHme-r
You have every legal right to say you want a “cost breakdown”
lnkd.in/gygd5bzs
Procurement 101: Explanation on Commodities
lnkd.in/g_nEgvhJ
How do companies outsource strategically?
lnkd.in/gevbRKEq
POs & Advanced Contract Mgmt: lnkd.in/gcpHEEvw
How SCM managers “prepare” to negotiate price increases. lnkd.in/gVrdpuer
Hundreds of SCM Blogs…
lnkd.in/e5zG6sZ
lnkd.in/g9_XQdaG
“Nearly 20% of employers said they've even had a recent college grad bring a parent to an interview...Half the respondents blamed parenting, 48% said the COVID pandemic is the culprit, & 46% said EDUCATORS are the root of the problem." Ouch!
Many college grads struggle to land jobs due to a lack of preparedness, study finds
www.foxbusiness.com/lifestyle/college-grads-struggling-land-jobs-lack-preparedness-study-finds
“One in five employers reported that recent college grads are generally unprepared when it comes to interviewing for a job. More than half of employers surveyed said Gen Z candidates struggle the most with eye contact during interviews. Candidates in this age group also ask for unreasonable salaries and have dressed inappropriately for in-person interviews. Even virtual interviews have posed issues, with 21% of employers reporting that some candidates refuse to turn on their cameras for the interview.”
Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. My thoughts: lnkd.in/gEZF6prG.
Here’s what a lot of college grads don’t know about their first job offer: lnkd.in/gG2DeF2h. “Just 38% of new grads negotiate w/ their employers when they get that first job offer.”
Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience:
lnkd.in/gdvDK7TQ
Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gQnHZd9Y.
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. More from Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE &
lnkd.in/gC44Baeb. MIT: lnkd.in/g3xqeDyc. Kansas State: lnkd.in/gPNgpmKA. Western Michigan University: lnkd.in/gipsXEsK. This is a very good one from UNC Pembroke: lnkd.in/gJA3uub2.
Students looking for internships/jobs: I actually have employers tell me they will NOT consider a student if they do NOT have a strong professional LinkedIn presence...How to effectively join LinkedIn: lnkd.in/gXYFDjXY.
hashtag#networking hashtag#interviewing hashtag#careers hashtag#interviewpreparation
The Pandemic Generation Is Taking Its Supply-Chain Lessons to School:
www.wsj.com/articles/the-pandemic-generation-is-taking-its-supply-chain-lessons-to-school-45f0f8df?st=35pr6ua8xvr9pkb&reflink=desktopwebshare_permalink
Also, "Readying the Supply Chain Workforce": lnkd.in/eVdi-Eyk. Educators reveal how they’re preparing future supply chain management professionals for growing complexity and advancing technology...
Top 12 Skills to Develop
For a career in supply chain management, these proficiencies top the list, combining both tech savvy and soft skills.
1. Communication skills
2. Critical thinking
3. Problem solving
4. Data analytics
5. Domain knowledge-understanding supply chain dynamics
6. Teamwork-ability to work in teams and collaborate
7. Technological proficiency
8. Relationship building and management
9. Project management
10. Adaptability
11. Negotiation skills
12. Global perspective
___
WMU SCM Program: Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For a long time, we required a single procurement class & a single logistics class. They simply were not enough as one class left little time to focus on the strategic issues.
WMU Supply Chain Management Program:
MKTG 2750 Global Negotiation
SCM 2200 Enterprise Resource Planning Systems
SCM 2800 Introduction to Supply Chain Management
SCM 3000 Production Planning
SCM 3030 Procurement Management
SCM 3050 Logistics and Transportation Management
SCM 3800 Continuous Improvement Theory & Practice
SCM 3810 Applied Continuous Improvement Project
SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required)
SCM 5050 Strategic Transportation Management
CIS 2640 Applied Analytics Foundations
Or a minor in Business Analytics
What skills come with the Business Analytics minor?...
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics Salary Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Management Program:
lnkd.in/eprKKbF
lnkd.in/gp6VX_e3
AI will have a great impact on SCM. However, one thing often not mentioned is the attitude of hiring managers, as many do not have a full understanding of the AI skill sets of graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities (lookup functions, pivot tables, etc. - that is NOT AI), & they greatly overlooked the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go BEYOND our CIS 2640 (Excel on steroids) - Applied Analytics Foundations.
For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills & managers (SCM Leaders) become more open to embracing the benefits (which might require a culture change).
CIS 4640 - Business Data Mining
This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. Specifically, it covers several types of modeling techniques & tools such as prediction, classification, segmentation & association detection algorithms. Students are introduced to the state-of-the-art data mining applications software such as SAS Enterprise Miner or SPSS Clementine for their class assignments & term project.
“Consulting firm McKinsey projects a supply-chain shattering event will happen every 3.7 years, on avg. Since the pandemic started approximately 2.5 years ago, the clock is ticking…” *orgs utilizing AI spend less on processing & require 53% fewer transactional FTEs than companies w/o AI. *Contract Analytics: Gartner - by 2024, the current amount of manual effort for contract review will be reduced by 50%. *Estimated 80% of supplier-related data is unstructured or “dark data.” *Gartner: nearly 45% of orgs have either already implemented AI
From Dr. Handfield: “These [semiautonomous] processes will draw on supplier rating systems, meeting notes, customer input, social media, legal filings, news feeds, employee & customer data, economic indicators, weather data, & multiple forms of data that can be mined to provide alerts that trigger procurement actions & supplier mgmt activities.” lnkd.in/g3bCXtDF.
Learn - 1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
Grad Cert:
lnkd.in/gJetuSjB
Ready to make over $70K/yr. upon graduation & over $100K by age 30 (& change the world)?
Let’s get started.
WMU Integrated Supply Management (ISM)...Nation's best undergraduate SCM program (Gartner 2014); 2nd in SCM technology (SoftwareAdvice 2015); 2nd in top global SCM talent (SCM World 2017)
Learn more about Western Michigan University’s top supply chain program at: www.wmich.edu/supplychain
E-Mail: sime.curkovic@wmich.edu
Program Major Credit Hours (twice most other programs):
Integrated Supply Management, Western Michigan University 43
Supply Chain Management, Arizona State University 21
Supply Chain Management, Michigan State University 18
Supply Chain Management, Penn State University 24
Supply Chain Management, University of Texas, Austin 21
“Half our member respondents (50%) said they would take a “Data Analytics” class to continue their growth as supply chain leaders. Second on the list was taking a “Finance” class (33%).” lnkd.in/eEEVhWEX. “Knowledge workers were the hardest positions to fill. With the explosion of data in supply chains and the richness of that data, many companies are starting to understand the value of that information. This is causing tremendous demand for people to analyze the data, and companies aren’t able to fill those roles.” lnkd.in/eGp6xXJG.
Do not be a victim of technology. You could make the case that every Business major should minor in Data Analytics. These skill sets would perhaps include: lnkd.in/dQABdsXc
Employers place a premium on -
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
lnkd.in/dtqV-HqE.
Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical. lnkd.in/gBPZJsVq
lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT.
hashtag#supplychain hashtag#finance hashtag#bigdata hashtag#cfo hashtag#dataanalytics
Tips/advice from this college professor (aka, educated idiot):
1. Read. People that read a lot make more $ (2.3 times more?!)
lnkd.in/ggBDzJrp
2. Learn the job saving technology.
lnkd.in/eu7ANq6
lnkd.in/gE3wp6JU
3. Learn to interview well.
lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
Being job ready…
lnkd.in/ed-ZfanD
4. Learn to negotiate ($).
lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu
5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR
lnkd.in/dAwyTUy
lnkd.in/gFa3iCsg
6. Delay graduation for experience. lnkd.in/ewKu7b_X
7. Learn to problem solve - lnkd.in/eWaJ8q2
lnkd.in/gSVTKmwC
8. Double Major? lnkd.in/gAViGTVG
lnkd.in/gqAE9u8W
9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty
lnkd.in/gA9KH-Ff
10. Job rotations? lnkd.in/ervskG5
11. 10 college majors that earn the most money: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU.
12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ
lnkd.in/gsKyJ9rn
13. Get certified as a subject matter expert:
lnkd.in/g3yfkvQr
lnkd.in/gVbQV2q7
14. Learn to talk CFO talk:
lnkd.in/gtve9xTM
Recent WMU SCM student success stories…
1. Finding a team: Dylan Sing’s future in supply chain management
Dylan Sing is a team player as a student athlete on the WMU men's soccer team and as a supply chain management major.
lnkd.in/ggqPmMyw
2. Integrated supply management student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit.
lnkd.in/d5UEQVJV
3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college.
lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in integrated supply management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns.
lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation.
lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test.
lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year.
lnkd.in/g4Ch_qxY
8. Jessy Mutombo: Going the extra mile
lnkd.in/gU_Mag6i
9. Presidential Scholar, MIRANDA MCNIVEN.
lnkd.in/gFG75HSJ
10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME).
lnkd.in/g4VyPcUq
#supplychain
simecurkovic.com
Newer Supply Chain Salary Data. Avg salary $144,017 (2021: $131,771): lnkd.in/gESQFNZa - 2022 salaries are up across the board. On avg, supply chain pros are making $126,215/yr, an increase from $112,779 in 2021, but on par w/ 2020’s avg of $126,475. The median salary in 2022 is now $108K. 20% earn $150K - $249,999/yr, while 16% earn $120K -$149,999. 12% earn between $90K-$99,999, & 10% earn $100K-$119,999. At the higher end of the scale, 9% earn more than $250K/yr. For details, see: lnkd.in/gbumc4Wb
www.linkedin.com/posts/sime-curkovic-61617a115_demand-for-supply-chain-talent-has-never-activity-6948229678465765376-VLXb?
"The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, nearly three-quarters (72%) saw a boost in their total compensation in the past year." lnkd.in/gESQFNZa & lnkd.in/gW-U-KHK & lnkd.in/gJquYyT4
SCM $ Information -
2021: lnkd.in/gpMvehY5
2021: lnkd.in/gn5jM9xt
2020: lnkd.in/gcsrX6tr
2018: lnkd.in/gTBMP5dM
lnkd.in/eQvfFMc
lnkd.in/g7YamZCU
Placement success of ISM Program - *Median salary was $60K-65K (10% of grads hired on w/ 1 auto OEM at $78K!). lnkd.in/gV4x6GWE
Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh.
"$ in SCM are going up & avg $10-20K higher than entry-level positions in other fields." lnkd.in/deYpduqZ
Should current students negotiate an INTERNSHIP offer? The avg SCM internship is $44,918/yr, or $21.6/hr. People on bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84
JOB SECURITY? U.S. News recently predicted that SCM jobs would expand by 25% w/i 10 years & identified SCM as one of the “20 Best Business Jobs.” SCM is also included in lists that rank top career fields for women (lnkd.in/gKF3-iXu.)
"...it’s clear that SCM professionals are poised to become the most powerful executives in the world..." CEOs Will Come from SCM? lnkd.in/eGb9u-3 and lnkd.in/gVC7TNCT
10 college majors that earn the most:
lnkd.in/gEXGmFfU
MBA graduate can expect to earn $3 million more than someone with only a bachelor’s degree. When is the right time for grad school? Avg age is 33. lnkd.in/gka9Qqmg
Laundry list of $ reports:
lnkd.in/d4_bYNF
lnkd.in/gzM6ZtaC
lnkd.in/gakfzs6r
lnkd.in/gv4SmiWB
lnkd.in/gFvMk35E
lnkd.in/ghZpE-rR
lnkd.in/gJuGinEi
lnkd.in/e6K8NNhg
lnkd.in/g-4qtPMz
lnkd.in/gHPHHA3p
lnkd.in/gd5PJD_6
lnkd.in/gYB7qt7F
lnkd.in/gu_SDNEf
lnkd.in/gPxfuGUZ
lnkd.in/gYq5SMMc
$:
lnkd.in/g8sN6tqZ
lnkd.in/gt_vDR9c
lnkd.in/gNbVwX-s
lnkd.in/g_m_6jA2
#salary #salaryguide2022 #salarynegotiation #supplychain
Tools for Job Searching: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of great resume ideas & career resources. FYI, below are Harvard’s ideas for a great looking resume (20 pages):
lnkd.in/gvywrPxM
lnkd.in/g9_svxC5
Personally, I prefer WMU’s Career Services manual. Also, WMU HCOB/ISM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). Keep in mind that many schools such as Harvard ($54K/yr tuition), Yale ($58K/yr), & Stanford ($57K/yr) don't offer undergraduate business degrees. WMU ($13K/yr) - A Top Business School (take a look at the list here): lnkd.in/dn9-BCg
___
Virtual career fairs: lnkd.in/evKd-VzQ
Business externship? lnkd.in/e9aeewPa
Placement success of ISM Program - *Median salary was $60K - $65K (around 10% of grads hired on w/ 1 auto OEM at $78K!). "Supply Chain"+"Degree"=jobs & $$.
lnkd.in/gV4x6GWE
Will technology replace SCM jobs?
lnkd.in/gX8vcRNa
Global Negotiation: Fastest growing class.
lnkd.in/guTUcvdu
A Top School: lnkd.in/dVdMRXP
WMU: *No. 1 in Michigan for earnings by graduates*
Sample Lectures: lnkd.in/e9j33EQ
"WMU ISM...Nation's best undergraduate SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World)"
Power BI or Tableau? Do not be a victim of technology.
lnkd.in/eKEaPGq
lnkd.in/e5zG6sZ
Here is a good read on how SCM 4.0 does not have to be super expensive:
lnkd.in/eyebnSct
lnkd.in/ekhu3YHA - Yes, WMU has one of the best business colleges in the world.
How much Python do I need to know in order to excel in SCM?
lnkd.in/e6Rmzpw
STAR job interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Effectively join LinkedIn
lnkd.in/dAwyTUy
Myers-Briggs. lnkd.in/ehj3ysR
For details on how to build your brand: lnkd.in/dSAA6wF
Similar to MBTI: lnkd.in/ey4TEUY
lnkd.in/exNDhSv
Help with online interviews...lnkd.in/eKBDsMq
Practice before it really matters...lnkd.in/ekaBK5Q
3 supply chain orgs you can join
lnkd.in/eTfdkA94
Also, resume advice for SCM majors...
lnkd.in/eWen96qj
lnkd.in/e7utipBi
lnkd.in/eVEHgvk6
Internships, salary data, interview info, etc.
lnkd.in/eNfUzksJ
Being job ready in the covid market…
lnkd.in/ed-ZfanD
FYI: What do SCM internships pay? lnkd.in/e8pfXtC
Delay graduation for work experience? lnkd.in/ewKu7b_X
Right time for grad school? lnkd.in/eTk-PXPv
Predictive Data Analytics (Excel)…lnkd.in/dQABdsXc
A lot of coding in SCM?
lnkd.in/eQgH3YY2
Problem solving is now the #1 skill set! See Elon's resume - lnkd.in/eWaJ8q2
Thank you Hire Lily for the supply chain salary data, & also your Insights: lnkd.in/gSYKjixY. Also from ISM: Both women’s & men’s compensation fell in 2021. From ISM: lnkd.in/g2dVpbeK &
lnkd.in/gHMUSv_s. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. 2020 $ (before covid): lnkd.in/gz8WQEhr. 2018 $: lnkd.in/gV53aggX.
Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr.
FYI from 2019:lnkd.in/grttnhZm
2018: lnkd.in/gTBMP5dM
Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4.
www.linkedin.com/posts/sime-curkovic-61617a115_more-supply-chain-salary-data-activity-7019631483912929280-eNkC?
Advice from this college professor (aka, educated idiot):
1. People that read make 2.3x more: lnkd.in/ggBDzJrp
2. Learn job saving technology.
lnkd.in/eu7ANq6 & lnkd.in/gE3wp6JU
3. Learn to interview well.
lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
Being job ready…
lnkd.in/ed-ZfanD
4. Learn to negotiate ($).
lnkd.in/gMJYNJkh & lnkd.in/guTUcvdu
5. Network & use LinkedIn. lnkd.in/gPZPQtqR & lnkd.in/dAwyTUy & lnkd.in/gFa3iCsg.
6. Delay graduation for experience. lnkd.in/ewKu7b_X
7. Learn to problem solve - lnkd.in/eWaJ8q2 & lnkd.in/gSVTKmwC.
8. Double Major? lnkd.in/gAViGTVG & lnkd.in/gqAE9u8W.
9. Get a grad degree? Earn $3M more. lnkd.in/g5FY5aty & lnkd.in/gA9KH-Ff.
10. Job rotations? lnkd.in/ervskG5
11. 10 college majors that earn the most $: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU.
12. Tool for calculating degree ROI: lnkd.in/gEPwNSTJ & lnkd.in/gsKyJ9rn.
13. Get certified as a SME: lnkd.in/g3yfkvQr & lnkd.in/gVbQV2q7.
14. Learn to talk CFO talk: lnkd.in/gtve9xTM.
www.simecurkovic.com/
The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022 (per The Financial Times). The U.S. supply chain accounts for 37% of all domestic jobs (per Harvard Business Review). Supply chain pros are making an avg of nearly $30K more/yr than the avg American, & are generally happy in their careers (per ASCM)...WMU SCM grads have a median wage range of $65-$75K.
www.simecurkovic.com/posts-page/
www.simecurkovic.com/membership/
- Supply chain knowledge for everyone. Explore, learn, & connect
- Do your job better, faster, & cheaper
- Join my network to reach thousands of SCM students, faculty, & professionals
- Hot Market: Over 25,000 SCM internships and > 250,000 full-time jobs
Join to get access to endless current SCM content and job postings. Bring your SCM needs and questions, and I will provide you with timely and thorough feedback. If you join our growing community today, you will have access to Sime Curkovic’s expertise through blog posts, articles and videos. You’ll also gain access to Dr. Curkovic for one-on-one advice.
Dr. Curkovic (please do not call me Dr.) has more than 30 years experience working to shape the future of SCM professionals. Check out this intro lecture (>217K views). Have access to > 50 hours of timely SCM content with > 4,400 TH-cam & > 20K LinkedIn followers, & thousands of views daily.
Yes, AI will take notes for college students (but you still have to study the notes). This college professor spills 6 secrets that every freshman should know: lnkd.in/gseeR7qe. Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that.
StudyFetch Launches AI Study Tutoring Platform to Help Students Succeed: lnkd.in/gFEKMwKm.
See it in action:
lnkd.in/gZsDhswy
lnkd.in/gcRk9BQC
lnkd.in/gjwpNrsb
In case you want to see what we cover in our AI course, see the screenshot below. We are expanding this list in spring. Our analytics faculty are on top of this AI wave. They have already built an AI course in our business college (CIS 5550) to cover all kinds of AI for business applications. After this course, AI embedded modules in existing courses will be added. See:
lnkd.in/gwHynAZB
Students: Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Prepping for a job interview? Here's how to answer 'What is my biggest weakness?' Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gMtdr92u.
hashtag#study hashtag#ai hashtag#artificialintelligence hashtag#college hashtag#supplychainmanagement
Hundreds of SCM Blogs…
lnkd.in/e5zG6sZ
lnkd.in/g9_XQdaG
Reads…
How should companies use competitive bidding?
lnkd.in/gS9vCRQ6
Assume a supplier estimates the following costs on an RFQ
lnkd.in/gxFBz3_U
ROI and Your Core Competency (i.e., SCM?)
lnkd.in/euh2rFdU
To stay competitive, companies are forced to outsource commodities and focus on their core competency
lnkd.in/g-DHtt8X
The primary elements for sourcing a supply partner
lnkd.in/ga2xtDsi
What does it mean to be hollow? Sourcing Strategy matters!
lnkd.in/gHB-nzeJ
The most reprinted article in the Harvard Business Review: The “Core Competence” Article
lnkd.in/gDsHme-r
You have every legal right to say you want a “cost breakdown”
lnkd.in/gygd5bzs
Procurement 101: Explanation on Commodities
lnkd.in/g_nEgvhJ
How do companies outsource strategically?
lnkd.in/gevbRKEq
POs & Advanced Contract Mgmt: lnkd.in/gcpHEEvw
How SCM managers “prepare” to negotiate price increases. lnkd.in/gVrdpuer
Great read: lnkd.in/gCiYgwS2 - "Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields." Quickest way to six figures? Answer: SCM - lnkd.in/guSURWFF.
Note, there are hundreds of open unfilled supply chain internships in Michigan (5,000+ nationally). See postings in MI: lnkd.in/gVsHEZxz What are they looking for? SCM majors. Perhaps delay graduation for work experience & stay specialized...
lnkd.in/gdr7f9wb
The placement success & starting salaries for WMU ISM is off the charts. *Median salary for all WMU ISM degrees was $60K-$65K (around 10% of grads hired on w/ one auto OEM at $78K!). "SCM" + "Degree" = jobs & $$. lnkd.in/gV4x6GWE
There are > 20K jobs on LinkedIn not filled which have the words "entry-level supply chain" in the job title.
"SCM"+"Data Analytics"=jobs & $$. There are > 35K jobs on LinkedIn not filled which have these words in the job title and/or job description - “supply chain” & “analyst” & “data analytics”. lnkd.in/dQABdsXc
There are >10M jobs not filled in the U.S., many of which are in SCM. In fact, if you loosely define SCM, around half these jobs are in SCM.
"Only" 113K unfilled jobs in Indirect Procurement on LinkedIn, & > 4K MRO Buyer jobs not filled. lnkd.in/gFrGvpCA
SCM Data Scientist (>171K jobs on LI- that's all).
Our Business Data Analytics minor:
lnkd.in/gf_UWz5x
lnkd.in/gKV4dw2z
lnkd.in/gHnUrVZz
lnkd.in/g9pgFErz
SCM Finance (>25K jobs on LinkedIn - that's all).
lnkd.in/gE9gVG34
A SCM undergrad degree creates many benefits beyond employment, but it never hurts to get a bit of educational ROI either!
_
JOB SECURITY? U.S. News recently predicted that SCM jobs would expand by 25% w/i 10 years & identified SCM as one of the “20 Best Business Jobs.” SCM is also included in lists that rank top career fields for women (lnkd.in/gKF3-iXu.)
"...it’s clear that SCM professionals are poised to become the most powerful executives in the world..."
CEOs Will Come from SCM? lnkd.in/eGb9u-3
lnkd.in/gVC7TNCT
Common Theme from Grads: It's a great career path because SCM jobs are everywhere. Additionally, SCM jobs usually pay great & there is a great room for career growth. The career path also offers excellent work satisfaction, & it's hard to get bored.
___
SCM Salary Data: lnkd.in/eQvfFMc
Negotiation: lnkd.in/guTUcvdu
Top School: lnkd.in/dn9-BCg
lnkd.in/dVdMRXP
Trends: lnkd.in/gDBXEi26
Internship pay: lnkd.in/e8pfXtC
SCM orgs: lnkd.in/gkeAdXcU
Double Majors? lnkd.in/gAViGTVG
WMU ISM...1st among non-PhD granting programs & #8 overall (Gartner 2018)
The new Western Michigan University - Haworth College of Business video series turned out great. Supply chain management student, Alexandra Henson says that attending WMU Haworth was one of the best decisions of her life. Hear from Alexandra.
th-cam.com/video/qbG7AufdzKQ/w-d-xo.html
Some 2022 WMU SCM student success stories…
1. Dylan Sing is a team player as a student athlete on the WMU men's soccer team & as a SCM major. lnkd.in/ggqPmMyw.
2. SCM student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit.
lnkd.in/d5UEQVJV
3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in supply chain management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY
8. Jessy Mutombo: Going the extra mile. lnkd.in/gU_Mag6i
9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ
10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
#supplychain #careeradvice #career #supplychainmanagement
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75K. Watch these "major" stories on WMU Haworth's students.
lnkd.in/dHhA8iEX. Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys. FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7.
WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major:
lnkd.in/g3CZBrM7
Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples:
WMU named in Princeton Review's 2022 'best business schools'
lnkd.in/gnRvmJwD
Accounting
*Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs.
lnkd.in/esW6ZuD
lnkd.in/eN5wF6b
Supply Chain Management
*Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF
Food & Consumer Package Goods Mktg
*Has earned certification for its category management coursework from the national Category Management Association
lnkd.in/eTjBRP9
Sales & Business Mktg
*Nationally ranked as the best university sales program since 2007
lnkd.in/etcppYi
Digital Mktg & eCommerce
*One of only a handful of its kind in the nation.
wmich.edu/dme
Advertising & Promotion
*Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals.
lnkd.in/ecR2pxu
Entrepreneurship
lnkd.in/emeTCTJ
*Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies.
Human Resource Mgmt
*One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6
Leadership & Business Strategy
*We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses.
lnkd.in/e5JUSye
Military Science & Leadership
*Thank you for your service to our country!
wmich.edu/rotc
Finance & Commercial Law
*Business law, finance & personal financial planning
wmich.edu/finance
Business Information Systems
*Business analytics, Computer information systems, Cybersecurity
lnkd.in/evSdSqU
GRADUATE PROGRAMS
*Princeton Review: one of the best places to earn a Master of Business Administration degree.
#college #career #major #business
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. Watch these major stories on WMU Haworth's major students.
lnkd.in/dHhA8iEX
Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys
FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7
WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major:
lnkd.in/g3CZBrM7
Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples:
WMU named in Princeton Review's 2022 'best business schools'
lnkd.in/gnRvmJwD
Accounting
*Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs.
lnkd.in/esW6ZuD
lnkd.in/eN5wF6b
Supply Chain Management
*Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF
Food & Consumer Package Goods Mktg
*Has earned certification for its category management coursework from the national Category Management Association
lnkd.in/eTjBRP9
Sales & Business Mktg
*Nationally ranked as the best university sales program since 2007
lnkd.in/etcppYi
Digital Mktg & eCommerce
*One of only a handful of its kind in the nation.
wmich.edu/dme
Advertising & Promotion
*Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals.
lnkd.in/ecR2pxu
Entrepreneurship
lnkd.in/emeTCTJ
*Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies.
Human Resource Mgmt
*One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6
Leadership & Business Strategy
*We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses.
lnkd.in/e5JUSye
Military Science & Leadership
*Thank you for your service to our country!
wmich.edu/rotc
Finance & Commercial Law
*Business law, finance & personal financial planning
wmich.edu/finance
Business Information Systems
*Business analytics, Computer information systems, Cybersecurity
lnkd.in/evSdSqU
GRADUATE PROGRAMS
*Princeton Review: one of the best places to earn a Master of Business Administration degree.
#college #career #major #business
Nice SCM salary report summary: lnkd.in/dTneTGgw. “Supply chain pros are making an avg of nearly $30K more/yr than the avg American, & are generally happy in their careers (ASCM)...The report found that the avg median supply chain salary is $98,570 (including base & additional compensation), up more than 3% from the previous year’s survey. The average median pay in the U.S. in Q4 of 2022 was equivalent to $56,420 annually, according to data from the Bureau of Labor Statistics.”
Also, from ASCM/APICS: lnkd.in/d7WSAWC3.
For tons of SCM salary data, see: lnkd.in/gp6iMKT9.
Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu.
Supply Chain Certifications To Advance Your Career…and many more at: lnkd.in/gHBkZ5cM. Supply Chain Manager Salary: Your 2023 Guide: lnkd.in/grxANayH & lnkd.in/gp6iMKT9. Indeed has material on supply chain careers...70 Job Titles in Supply Chain (w/ Avg Salary): lnkd.in/gUAk4SPG. 11 Benefits of SCM Careers: lnkd.in/gXG9EkEF. What Does a Supply Chain Manager Do? lnkd.in/gFxhqH2m.
Do Certificate Programs Pay Off? lnkd.in/gxGAtHVs.
How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gfW-SeZk.
Top 10 SCM Trends…lnkd.in/gG3hBRpH.
Students: Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Prepping for a job interview? Here's how to answer 'What is my biggest weakness?' Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gMtdr92u.
hashtag#college hashtag#supplychain hashtag#internships hashtag#salary
Hi Cameron, are you an undergraduate student? If so, will this be your first SCM course?
Yes this will be my first SCM course, I graduated high school right when the pandemic hit, and I’m finally going to school now.
“In ISM’s 2023 Salary Survey, the reported overall average salary remained steady, dipping imperceptibly (that means subtle) to $123,523, while the median salary rose 5.8 percent year over year, to $105,795. Except for 2021, average salary has mostly increased over the past five years for both women and men, though the pay gap between men and women persists, now at 25 percent.” lnkd.in/gwCWhhcE.
Previous years:
Both women’s & men’s compensation fell in 2021. From the Institute of Supply Management 2022 - lnkd.in/g2dVpbeK & lnkd.in/gHMUSv_s. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. 2020 $ (before covid): lnkd.in/gz8WQEhr. 2018 $: lnkd.in/gV53aggX.
lnkd.in/giwxC9ux
"Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." lnkd.in/gMxqC5mb.
Links to other sources of salary data:
lnkd.in/gaY5FszK
#salary #salaryguide #salarynegotiation #supplychain
Another awesome post Ms. Labes, thank you. Just curious as to where people think the supply chain function should sit within this chart, especially in regards to the CFO. Assume mfg orgs where direct material purchases (from their supply chain) are 50-80% of each dollar in sales revenue.
www.linkedin.com/posts/sime-curkovic-61617a115_entrepreneur-finance-business-activity-7038161272391036928-VZap?
FYI, per chatGPT:
On avg, what % of each mfg sales dollar is in direct material costs?
The % of each mfg sales dollar that is in direct material costs varies depending on the industry & the product being manufactured. However, a commonly used benchmark is the Cost of Goods Sold (COGS) metric, which includes direct material costs, direct labor costs, & overhead expenses associated w/ production.
According to the National Association of Manufacturers, the avg COGS as a % of sales for U.S. manufacturers was 64.7% in 2020. However, this % can vary sig depending on the industry, w/ some industries such as food/bev having a higher % of direct material costs, while others such as software/technology having a lower %.
In summary, while it is difficult to determine an exact % for direct material costs as it varies across industries & products, a common benchmark is the COGS metric, which is typically around 65% of sales for U.S. manufacturers.
__
Remember, ROI = profit margin * asset turnover rate (ATR).
ATR = sales/total assets
total assets = current assets + fixed assets
current assets = inventory + accounts receivable + cash.
I keep telling my students if they can widen margins (i.e., reduce direct material costs since that is where most of your costs come from) and/or increase ATR, then ROI will go up. So, if you can reduce your total assets without changing sales and/or increasing sales, then ATR goes up. For example, reduce your inventory and your ATR will go up and ROI will go up. If you can do more with less, then your ATR will go up. Arguably (in mfg orgs), no other major/function (SCM) has a greater impact on what goes into the ROI calculation. That is why SCM graduates will likely be immediately bonus eligible and their highest ranking functional area (SCM) leader will have a VP in front of their name.
WHAT IS THE FORMULA FOR ROI?
Return on Investment equals Profit margin * asset turnover rate.
WHAT IS THE FORMULA FOR PROFIT MARGIN?
(Sales - cost of sales)/Sales or
Net Income/Sales
Keep this simple, take your company’s total annual sales revenue and subtract your costs (DM, DL, & OH). Take that number and divide it by your total annual sales revenue. So, how do you widen margins? Cut costs. Where do most of your costs come from? Direct material purchases. This is what they are majoring in. Why do you want to widen margins? To increase ROI (Return on Investment). ROI is PM multiplied by Asset Turnover Rate (ATR). What is ATR? Doing more with less (i.e., reducing inventory, getting customers to pay sooner, buying less expensive stuff…OUTSOURCING?).
Details:
lnkd.in/e9j33EQ
#outsourcing #supplychain #cfo
Here is a way to be very proactive and even stay one step ahead of your suppliers (and customers). lnkd.in/gMuhMNf6 and lnkd.in/gQZ7HfWb
Surprised by raw material price increases? At the WMU ISM supply chain management program we teach our students to track commodity forward price curves. Here's a quick video of Net Alpha's cloud based materialx Decision Support service that is being made available to our students in class as they prepare to become future SCM managers.
Some of our alumni have experienced this new service and love it. It looks at raw material market data from multiple sources, visualizes & analyzes historical pricing scenarios, & simulates planned purchases & what-if scenarios against forward price curves. Our grads will be ready.
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7.
Supply Chain Manager Salary: Your 2023 Guide
th-cam.com/video/-KEbg2FTat4/w-d-xo.html
Indeed has material on supply chain careers...70 Job Titles in Supply Chain (w/ Avg Salary): lnkd.in/gUAk4SPG. 11 Benefits of SCM Careers: lnkd.in/gXG9EkEF. What Does a Supply Chain Manager Do? lnkd.in/gFxhqH2m.
Nice SCM salary report summary: lnkd.in/dTneTGgw. “Supply chain professionals are making an average of nearly $30,000 more per year than the average American, and are generally happy in their careers, according to data included in a new report released this morning by the Association for Supply Chain Management (ASCM).
...The report, “The Supply Chain Profession in 2023: Salaries and Careers Across the Globe,” found that the average median supply chain salary is $98,570 (including base and additional compensation), up more than 3% from the previous year’s survey. The average median pay in the U.S. in Q4 of 2022 was equivalent to $56,420 annually, according to data from the Bureau of Labor Statistics.”
Also, from ASCM/APICS:
lnkd.in/d7WSAWC3
“Those who invested in career certifications found themselves earning higher salaries. The report found that supply chain professionals who hold at least one credential reported a median salary that is 16% higher than those without. People with two or more certifications earn 34% more.”
For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9.
2023 Logistics Salary Survey: lnkd.in/g-MCCsfa.
Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu.
#supplychain #salary #career #jobs
So high schoolers are saying college is NOT worth it…“The % of students who say college “isn’t worth it” has grown from 8% in 2019 to 17% in 2021 & 20% in 2023.” lnkd.in/gcjRb-Um. But actual college graduates say it is VERY worth it: “…95% of graduates of two-year, four-year, and graduate programs are excited about their postgraduate plans, and nine of 10 said that college was worthwhile, they were happy with their choice of school and think they chose the right field of study.” See: lnkd.in/gyN2iwXN.
…Of the half of graduates who plan to immediately get a paid job-as opposed to, say, pursuing another degree or taking some time off-79% had already secured postgraduate employment in their primary field of study. And one in two said the job hunt was easy.
…those with bachelor’s degrees earned nearly $30,000 more annually than counterparts who have only a high school education. A two-year degree yields an extra $8,000 a year.
… 20% of those polled who are graduating from a public school report carrying no debt at all, compared with 7% of their private-school peers.
__
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022." lnkd.in/gyWH5gxt.
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7.
WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right?
Supply Chain Manager Salary: Your 2023 Guide: The job growth rate for logisticians is high, at 28% between 2021 & 2031. Compared w/ 5.3%, the job outlook for all occupations, that is a promising figure for future supply chain managers. lnkd.in/grxANayH
How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gNCq6eYR
In Michigan: Hot Top 50 Job Outlook: “a 29.7% increase in demand for logisticians” & “The most in-demand, high-wage jobs will be operations managers, w/ an annual need of more than 6,500 & a wage of $29-72/hr”. lnkd.in/gYbWCSQQ & lnkd.in/gzqRPEPr & lnkd.in/g9T2fU_d & lnkd.in/g_G-xwFv.
Industry outlook and trends
lnkd.in/gCNG4EqB
More data:
For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see:
lnkd.in/gp6iMKT9
#supplychain #careerguidance #job #career
This college professor spills 6 secrets that every freshman should know
www.marketwatch.com/story/this-college-professor-spills-6-secrets-that-every-freshman-should-know-2019-08-13
Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that.
I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergraduate level.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ
"Students who are able to build strong relationships w/ professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall...lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed w/ student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
Another study:
Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH
Ready for a HW assignment that will sharpen your SCM Finance skills?...
Students: See the one-page financial statement on ROI at:
wmich.edu/sites/default/files/attachments/u56/2023/LectureROIHandoutPDF.pdf
Let’s say you just started working for this company and you are a problem-solver that is obsessed with finding ways to do every part of your job better, faster, and cheaper. Over a six-month period, you work very aggressively to reduce your organization’s direct material purchases/costs by 5%. For example, you figured out a way to consolidate your purchases by reducing the number of suppliers you use. So, you are giving a fewer number of suppliers larger amounts of business and volumes. By the way, that is called supply base deproliferation and it usually results in lower prices from economies of scale for suppliers. Suppliers are very OK with lowering their prices if you give them higher volumes of business (suppliers reduce their costs that way and share the cost savings with you by charging you less per part).
Question #1 (fill in the blanks): Here is the question: what impact does reducing your employer’s direct material (DM) costs by 5% have on its ROI (use the numbers on the attachment)? Note, if you reduce your DM costs by 5%, it also reduces your inventory value by 5% (in other words, it will also increase your asset turnover rate - so you have to recalculate profit margin and asset turnover rate).
Such a cost reduction (5%) would increase profit margins from _% to __% and ROI from 10% to __%? This equals a _ percentage point increase improvement in return on investment for each 1 percentage reduction in material costs…Hint, (new ROI - old ROI)/5.
My thoughts…The 5% reduction used in this example is certainly a realistic expectation if the firm hires a high performer and if the SCM operation in this firm is not particularly progressive/strategic or well run. In a well-managed supply chain organization, a more realistic target might be a 2-3% cost reduction. However, this new post covid inflationary environment has made trying to cut costs VERY difficult.
Remember, I said earlier that a dollar saved in SCM is the same as a dollar of new profit. However, an additional dollar of income from sales is NOT a new dollar of profit. Applicable expenses (your costs) must be deducted from the sales dollar to determine the remaining profit.
Question #2 (fill in the blanks): Back to the financial statement…A 5% reduction in direct material costs produces a profit increase of $____? If the same profit increase had to be increased by sales, what sales increase would you need? At the existing 8% profit margin, the following calculation provides the answer:
Profit increase (plug in the number from the blank above in Question #2) = New sales x .08
New sales = $____
This represents a sales increase of:
($_____/$5,000,000) x 100 = ____%
So, for comparative purposes, in this case study, the same absolute profit improvement can be achieved by reducing material costs by 5% or by increasing sales __%, approximately a ratio of __ to 1.
My thoughts: If the profit margin were greater than 8%, the ratio would be somewhat less; if material costs, as a percentage of sales, were higher, the ratio would be somewhat greater. Look, most progressive/strategic (long term thinking) managers strive to improve the firm’s profit position by both increasing sales revenue (if possible in global saturated hyper competitive markets) and by reducing the various elements of operating costs (which is always a viable option since most costs come from the supply chain!). Sales and Marketing majors: Yes, selling more stuff to make more money is great, especially stuff with wide margins, but cutting costs can be a way more viable and effective option.
In practice, the cost of materials can easily vary as much as 10%, depending on the skill sets of your supply chain management organization. This is why typically there are more opportunities available for reducing purchasing costs 5% per se than there are for increasing sales volume by 20-30%. Also, additional profit from purchasing savings can normally be made without increases in expense. If an increase is required, it is usually for hiring more Broncos which pays for itself because they are trained to be problem solvers that do things better, faster, and cheaper. On the other hand, additional profit from increased sales volume normally entails increases in both expenses and increases in risk of capital. Additional expenses are incurred for such things as expanded sales and/or workforce, expanded advertising budget, additional plant capacity, overtime production pay, or some combination of these factors. Additional profit from sales, therefore, entails increased capital risk and increased managerial effort. Additional profit from purchasing/supply chain management normally only entails increased managerial effort, plus an occasional modest increase in management expense (hiring Broncos). What’s wrong with hiring a high performer for $70K/year ($100K/year with benefits and bonuses) if they save you hundreds of thousands of dollars annually (maybe millions in savings).
Question #3 (start over with the case study): Go back to the original financial statement on ROI. Let’s say you start working for this company and you tell the owner of the company that you need around six months to reduce direct material costs by 5%. You tell the owner that it will make the ROI go up by X% (your answer to question #1 above). The owner says that is great but he/she does not have that much time and wants instant cost savings results. This company is privately owned and family run. That means they are not publicly traded (you cannot buy stock in the company). The hourly workforce in the factory is also not represented by a union. So, the owner said he/she is going to cut direct labor costs by 5%. How much will doing so improve the owner’s ROI? How effective do you think that is and what might be the consequences? What would you have done if this was your company and you were dealing with low, thin, and tight margins?
My notes (I keep giving you my notes):
How can Supply Chain Management (SCM) increase company profit? For the typical firm, SCM is responsible for spending well over half of every dollar the firm receives as income from sales. More dollars are spent for purchases of materials and services than all other expenses combined, including wages, taxes, dividends, and depreciation.
The fact that SCM is responsible for spending well over half of most companies’ total dollars highlights the profit-making possibilities of SCM. Every dollar saved by SCM is equivalent to a new dollar of profit. Note, almost all of my students that go into SCM, are immediately bonus eligible. That is management’s way of saying Broncos will get extra money added to their salary if they help the company save money (saving money is the same as making money).
Top management’s performance is frequently evaluated on the basis of the rate of return management is able to earn on the total capital invested in the business. A firm’s profit margin reflects management’s ability to control costs relative to revenue. The asset turnover rate reflects management’s ability to effectively utilize the firm’s productive assets. Hence, a firm’s management (SCM) can improve ROI (and managerial performance) in three ways: 1) by reducing costs relative to sales; 2) by getting more sales from available assets (or increasing sales proportionately faster than investment); or 3) by some combination of the two. As seen from the handout, SCM can contribute to ROI by both increasing the profit margins and/or increasing the asset turnover rate. That’s it!
Email me if you want the answer key.
Thank you. Sime
My students asked for a summer reading list (if they would just read the syllabus). People that read a lot make more $ (2.3x more?!). Both Gates & Buffett make a point to read every day. lnkd.in/gd-J5x5N. Why Reading Business Books May Actually Help You Get More Money: lnkd.in/gum3EzgR.
www.linkedin.com/posts/sime-curkovic-61617a115_7-must-read-business-books-activity-7077620029189459969-QBT2?
Reading List: A great book read for CFO types that want to understand SCM types (or the other way around?): "Supply Chain Metrics that Matter"...The book links corporate financials to SCM.
This video shows 7 business books recommended by Stanford professors:
lnkd.in/g5EGVe_X
Other reads for SCM leaders:
The New Leader's 100-Day Action Plan: How to Take Charge, Build or Merge Your Team, and Get Immediate Results- by George B. Bradt, Jayme A. Check, John A. Lawler
5 Levels of Leadership or 21 Irrefutable Laws of Leadership by John Maxwell. Both are mandatory readings for many F500 SCM teams.
Many are also proponents of the “The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter, Updated and Expanded”, by Michael D. Watkins
This was required reading in Procurement at a F500 org:
Switch: How to Change Things When Change Is Hard by the Heath Brothers
Great feedback on these 3:
Supply Chain Excellence by Peter Bolstorff and Robert Rosenbaum
The Lean Extended Enterprise by Terence Burton & Steven Boeder
The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt.
Suggested student reads:
- Designing and Managing the Supply Chain by David Simchi-Levi, Philip Kaminsky and Edith Simchi-Levi
- Essentials of Supply Chain Management by Michael H. Hugos
- Logistics and Supply Chain Management by Martin Christopher
- Logistics Management and Strategy: Competing through the Supply Chain by Alan Harrison and Remko Van Hoek
- Manufacturing Planning and Control for Supply Chain Management F. Robert Jacobs, William Berry, D. Clay Whybark and Thomas Vollmann
- Purchasing and Supply Chain Management by Robert Monczka, Robert Handfield, Larry Giunipero and James Patterson
- Purchasing and Supply Chain Management: Analysis, Strategy, Planning and Practice by Arjan J. Van Weele
- Supply Chain Logistics Management by Donald Bowersox, David Closs and M. Bixby Cooper
- Supply Chain Management: Strategy, Planning, and Operation by Sunil Chopra and Peter Meindl
- The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage by Yossi Sheffi
Also:
lnkd.in/gb9nDnju
lnkd.in/gjBhpb9M
lnkd.in/guxyh9Ny
The classics…
HOW TO WOW: FRANCES COLEJONES
THE EXCEPTIONAL PRESENTER: TIMOTHY J KOEGEL
THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE: STEPHEN COVEY
GOOD TO GREAT: JIM COLLINS
THE PRESENT: SPENCER JOHNSON
FISH: STEPHEN LUNDIN
THE SERVANT: JAMES C HUNTER
According to a number of studies, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year.
According to another study in the Economic Journal, those who had over 10 non-school books as a kid earned an average of 21% more than those who did not.
Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas & strategies they can use to help their careers (e.g., developing core competencies), their teams & their orgs.
Where can you find a stream of new & practical ideas to help drive your success?
The easiest & most underutilized method is to learn directly from the world's business experts (e.g., HBR). Many of them have written great books that offer their proven strategies & winning ideas - ideas & strategies that took years to develop & perfect. This information is just sitting there for the taking - ready to propel you to the next level.
A recent study showed that 74.9% of all managers understand they need to read more to stay ahead of the curve, but they simply don't have the time. & this troubling reality is directly impacting their incomes - not to mention their careers!
Western offers new course on the intersection of artificial intelligence and writing: lnkd.in/g476QVTS.
#supplychain #readinglist
New lectures/career advice can be found at:
th-cam.com/video/R1orKbGDEbM/w-d-xo.html
th-cam.com/video/S9cyD9ydG3w/w-d-xo.html
th-cam.com/video/shO_ItxFGpE/w-d-xo.html
College Students: Do NOT round up your GPAs, use a post script on your phones for email replies, take your email signatures VERY seriously, & use keywords on your resume.
www.linkedin.com/posts/sime-curkovic-61617a115_careeradvice-resumeadvice-activity-6998245283591598080-XkAP?
Resume advice, Do NOT round up your GPAs
Students should not change their official GPA for their resume. Instead, I recommend they calculate their major GPA using the courses required for their major & also list their overall GPA (especially if your major GPA is much higher than your overall & your overall is under a 3.0).
Also, a 2.96 GPA is not a 3.00 GPA. If an employer requests an official transcript be sent upon graduation (which they will), this could be labeled as "falsification of employment record" & as a result, an offer of employment can be revoked (if you round up your GPA).
___
I am noticing that several of my students are responding to my emails via smart phones. That is fine. It is 2022 & your future employer will expect you to do the same. However, it can be cumbersome to write emails on your phone that are clean & easy to read. & sometimes, you try to write one word but another word appears that was not intended. So, please take the time to make sure your reply message looks professional & reflects positively on you. Impressions will be made based on your written communication & you will be judged. I would also recommend programming your phone so that the post script tells the recipient of your message that it was sent from your smart phone. That way people will be less judgmental if a mistake was made.
You can add the message in your iPhone settings so that it will appear on all emails sent by phone but not on your email signatures sent by computer.
An appropriate post script message from your phone would be:
“Note: this email was sent by iPhone, please forgive grammatical errors. “
___
Resume Keywords Ideas/Action Verbs for your resume.
Does your resume use these words?
lnkd.in/ea6gV-K
Here are my thoughts on resumes:
lnkd.in/gxEy9VkH
lnkd.in/gCgi72kX
lnkd.in/gKV5JYhR
____
Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). It might be the first impression you create!
lnkd.in/ge9nGrjx
lnkd.in/evaNVnbv
I just saw this one from a current student and really liked it...
xxxx xxxx
Integrated Supply Management (Purchasing, Operations, Logistics) - 2023
Western Michigan University - Haworth College of Business, Lee Honors College
xxxxball Student Athlete
E-mail: xxxxx.x.xxxxxx@wmich.edu; Tel: (269) xxx-xxxx; LinkedIn: lnkd.in/gqbYfa9U
#careeradvice #resumeadvice
Even in the pandemic, the placement success of the WMU Integrated Supply Management Program continues to be off the charts. *Median salary for all WMU ISM degrees was $60,001 - $65,000 (around 10% of graduates hired on with one automotive OEM at $78K!). "Supply Chain" + "Degree" = jobs and $$$$.
There are > 20,000 jobs on LinkedIn not filled which have the words "entry-level supply chain" in the job title.
An undergraduate degree creates many benefits beyond employment, but it never hurts to get a bit of educational ROI either! Wow, check out this job placement...
_
Quickest way to six figures? Answer: Supply Chain Management
JOB SECURITY? U.S. News & World Report recently predicted that logistics & SCM jobs would expand by 25 percent within the next decade and identified SCM as one of the “20 Best Business Jobs.” Logistics and supply chain management are also included in lists that rank top career fields for women during the next decade.
"...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..."
Tomorrow’s CEOs Will Come from an Unlikely Place: The Supply Chain. lnkd.in/eGb9u-3
Common Theme from Graduates: It's a great career path because SCM jobs are everywhere. Additionally, supply chain jobs usually pay super well and there is a great room for career growth. The career path also offers excellent work satisfaction, & it's hard to get bored.
Everything has a supply chain and everything comes from a supply chain.
___
SCM Salary Data $$: Since so many people asked, here is a list of pubs: lnkd.in/eQvfFMc
Employment of SCM analysts is projected to grow 14 percent from 2020 to 2028, much faster than the average for all occupations. The average growth rate for all occupations is 5 percent. The median annual wage for these types of skill sets was $83,610 in 2019. The median annual wage for all workers was $38,640.
Also, from the Institute of Supply Management:
For the 15th year, the ISM is out with its annual salary report for procurement professionals, this year based on survey results from some 2700+ supply managers from those new to the profession to chief procurement officers.
The survey was conducted between mid-Jan & mid-Feb 2020, and based on 2019 compensation data. Salary levels include both base pay and any bonus payments.
The headline news is that average compensation growth for SCM practitioners rose for the third straight, with average overall 2019 compensation across all levels reaching $123,226, a 3.3% increase compared to 2018, when the avg was $119,271.
The increase in 2019 is double the 1.6% rise reported for 2018 versus 2017. This year, 87.6% of respondents indicated their base salaries increased in 2019, & of those, the average increase was 5.5%.
lnkd.in/ekhu3YHA - Yes, WMU has one of the best business colleges in the world.
Parents: are you pushing your kids to finish college ASAP? Perhaps delay graduation for work experience & stay specialized? FYI: What do SCM internships pay (& they all pay, never work for free)? The going rate is $18-27 per hour. lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Thousands of SCM internships currently posted - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE. > 25,000 business related internships. lnkd.in/gmMH5myb.
Being job ready in the covid market & beyond. lnkd.in/eZGZbkP. Most good paying jobs are highly specialized (e.g., purchasing, operations, and logistics). SCM degrees are specialized but you also have to get good practical work experience related to what you are majoring in. Quite simply, students without work experience in their major do not get good jobs in their major. That means you have to make getting an internship one of your top priorities while in school. You have to do this even if it means delaying graduation (in my opinion). The delay will pay for itself in terms of starting salary & future advancement opportunities (because of what you learned during the internship & what you brought into your full-time job because of the internship).
Pasted below is some feedback from a manager that thinks students are less inclined to delay graduation for great work experience. I think his points are somewhat exaggerated, but I just wanted to reiterate the importance of getting work experience related to what you are majoring in. Please take this in the right spirit. I just want the very very best for you. I am currently working with a handful of graduates that are unemployed. What do they have in common? Low GPAs & no work experience. Again, please know that I am not judging.
__
Students (here is an email from a manager):
“As a bit of feedback, we always seem to have trouble convincing students that taking a semester off school & working for a company is “okay”. They tend to want to stay in school straight through & graduate in 4 yrs. In my opinion, times have changed, & a student absolutely needs to have some co-op work experience on their resume in order to land a good job in the area of Supply Chain. A summer internship (around 3 months) is just not enough anymore.”
__
Being job ready in the covid market and beyond…
lnkd.in/ed-ZfanD
Also, students who choose to specialize in their education (e.g., SCM) are having better experiences than those who stay generalist. FYI, research from my colleagues: lnkd.in/ex89namH.
They also found that college educators have more influence on a student's choice of major than any other person--more than parents, friends, other students, high school figures, academic advisors, etc.
If there's one thing my SCM career taught me, it is to not fear specialization. It is the fastest road to growth and opportunity.
#college #supplychain #internships #salary
Some employers are giving students a few days to make decisions on full time job offers several months before graduation. One student asked if that was ethical or even legal. Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5. My students came back to school from their summer internships and many of them received full time offers from their internship & many will accept (5-10 months ahead of graduation!).
www.linkedin.com/posts/sime-curkovic-61617a115_should-college-grads-negotiate-a-job-offer-activity-6990285259237965824-O2FI?
Note, most companies will only give them 1-2 weeks (or even only a few days!) to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want). lnkd.in/gmFMJfbC
Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60K-$70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gMJYNJkh
Many of our grads begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5
In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number.
Advantages of starting career in job rotation for students:
· Rapidly learn about your industry of interest
· Work on a diverse set of projects
· Find a mentor & learn about your potential career trajectory
· See what makes the company great
Also, students are getting lots of job offers when they play the job market...In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? Reneging: Once you commit, quit! lnkd.in/e85beQ2 Amongst those grads that have reneged on a job offer, 64% claimed that they did this because they didn’t know how to decline. 22% said they did this because they received a better offer elsewhere, while just 9% changed their mind (Milkround). lnkd.in/gZiiskjD
The Harvard advice:
lnkd.in/ghEYr3Qw
lnkd.in/gc4Kd_SE
Ideas from Yale:
lnkd.in/gggJFADW
lnkd.in/gxkjy3sm
#careeradvice #salarynegotiation #joboffer #supplychain #salaryguide2022
2024 Top 10 SCM Trends…Common theme: BIG DATA is not going away (agreed), BUT one must understand why/when certain data formats create more value. Many of our supply chain students get a minor in Business Analytics & we actually teach a variant of Wide/Small data called Association Analysis (our Business Data Mining class). My thoughts: lnkd.in/g5UizdeN.
ASCM/APICS now has a Supply Chain Technology Certificate, $495, 20 hrs of online training (hmm). Topics covered: Blockchain, Adv Analytics & Automation, Internet of Things, Cybersecurity, Demand Planning Technologies, & Additive Mfg (3D Printing). This covers a LOT of ground in 20 hrs. For example, see their Adv Analytics & Automation…My thoughts: lnkd.in/gCtUu65i.
hashtag#bigdata hashtag#dataanalytics hashtag#supplychainmanagement hashtag#datascience
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead. “Bachelor’s degree holders generally earn 84% more than those with just a high school diploma…STEM, health and business majors are among the highest-paying…Top-paying college majors earn $3.4 million more than the lowest-paying majors over a lifetime.” lnkd.in/gfAFzNiP.
www.visualcapitalist.com/sp/interested-in-a-career-in-global-trade/
The unemployment rate for Americans w/ a college degree has dropped to 1.9%.
The avg cost of college tuition & fees at public 4-year institutions has risen 179.2% the last 20 years for an avg annual increase of 9.0%. It’s a disturbing chart. BUT, while my supply chain students spend around $60K for their degree, they graduate with a job that pays $60-75K, & many are at 100K by age 30. That’s not bad ROI, right?
Education boosts earning power...Avg salary by education 2022 (inflated IMO): 1. High school diploma $98,157; 2. Two-year degree $91,204; 3. Some college $108,647;
4. Bachelor’s degree $134,037;
5. Master’s degree $163,335;
6. Ph.D. $265,606.
lnkd.in/gESQFNZa
Over their lifetime, an MBA graduate can expect to earn $3M more than someone w/ only a bachelor’s degree.
...by 2030, the U.S. could experience unrealized revenue of $1.748 trillion due to labor shortages - equivalent to 6% of the country’s entire economy. I think it is going to be WAY worse because people are having WAY fewer kids.
lnkd.in/gSPR9AfU
If you look at this 2020-30 job growth chart closely, all things supply chain related scored VERY well (i.e., operations & logistics). lnkd.in/gbWAzjjK
Basically, we are going to see 20-30% growth in SCM jobs over the next decade. Also, the jobs in SCM pay VERY well. Lastly, the data science jobs scored off the charts in growth & pay. So, SCM + data science = jobs & $. Finally, automation is killing all things manual (negative job growth).
My students are getting worried about the job market because they are hearing about this recession. Yes, recessions tend to be very bad for college grads. However...Yes, the number of job openings fell for the 3rd straight month to 10.698M in June which is the lowest since 10.629M in August 2021 (off the record high of 11.855 million in March). But, that means there are only (sarcasm) around 11M unfilled jobs. National unemployment is 3.7% (near 50 year lows). That is not a labor recession. College grads, worry not (not even close).
Recession Graduates: lnkd.in/gY9FC6TR
The benefits of starting college in a recession
lnkd.in/gZFAmqXX
After a few thousand students, I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere. FYI: WMU students can double major w/ Leadership. lnkd.in/gTv7gtEP
www.linkedin.com/posts/sime-curkovic-61617a115_interested-in-a-career-in-global-trade-activity-7010719839551963136-0U5F?
#supplychain #career
After a few thousand students, I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere (#2 on list below). FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H
www.linkedin.com/posts/sime-curkovic-61617a115_why-are-americans-quitting-their-jobs-5-activity-6997166854179876864-xHc-?
"Quiet quitters" make up at least 50% of the U.S. workforce -- probably more, Gallup finds. U.S. employee engagement took another step backward during the 2nd quarter 2022, w/ the proportion of engaged workers remaining at 32% but the proportion of actively disengaged increasing to 18%. The ratio of engaged to actively disengaged employees is now 1.8 to 1.
lnkd.in/gb4WBKvf
U.S. productivity posts biggest EVER drop in 2nd quarter 2022. This is a very complicated calculation, but it is very concerning. Has how we managed the last 2+ years caught up to us? This not only will make inflation harder to beat, it contributes to inflation.
Note, in the quarter after Sept. 11th, & during the Great Recession of 2007-09 & early in the pandemic, American productivity SOARED. Why? Because it’s what we do. Something is amiss in 2022. I think Leadership got us into this, & Leadership can get us out.
For example, here are Four Ways to Energize a Post-Pandemic Workforce (which have largely been downplayed in my opinion):
1. Physical Safety Remains #1
2. Mental Health on the Mind
3. Time Matters Most-Even Above Pay
4. See Me, Hear Me
Working Together To Get Back to Normal:
lnkd.in/gRRntrQ6
Why are people quitting their jobs? Is there a LEADERSHIP void? I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere. From Gartner: If you want to develop and retain strong employees without compromising their health and well-being, Connector managers are your secret weapon. gtnr.it/3A1mDvc
FYI: Our students can major in Leadership (lnkd.in/e5JUSye). It can actually be taught, practiced, & learned (you can get better at it). However, another major is also req’d in our program (you cannot just major in Leadership), make sense?
Great posts & reads:
Flowchart: Are You Working for a Toxic Boss?
lnkd.in/ggp_NaTx
Why are Americans quitting their jobs?
lnkd.in/gRN_tFm3
The five best lessons I’ve learned on leadership and career development
lnkd.in/g2PaXqF9
The Great Resignation turns to the Great Regret as worker needs are not being met, expert says.
lnkd.in/ggNH5YMY
"Promotions are, in part, a function of who has the best relationship with the decider - if you're young, get to the office @smerconish @CNN": lnkd.in/diBcDBM4
Malcolm Gladwell says people must return to the office to regain sense of belonging’.
lnkd.in/gaCbAzSj
#leadership #careeradvice
You can follow me at: medium.com/@sime.curkovic
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, if a company does not know your market value. There are already>10,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE.
lnkd.in/gt98WuvK & > 16,000 business related internships. Perhaps delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb
lnkd.in/gARup7zr
lnkd.in/g4-csGUy
www.linkedin.com/posts/sime-curkovic-61617a115_goals-of-a-supply-chain-internship-or-co-op-activity-6994340284243345408-XO44?
Top 100 Internships
lnkd.in/g8N_p43w
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr).
lnkd.in/gpBm_m84
> 1/2 our students are making over $20/hr. The program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16/hr. Why would any org want to pay 20-30% below avg?
Should grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60-70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump.
lnkd.in/gB9bTdgJ
lnkd.in/gW5uwkkE
Our avg is $65K. You need to position yourself w/i that context. Are you above avg? Why? And, does this org want someone that is above avg? Probably. If someone asked me what the avg WMU SCM student looked like, I might say: they have around a 3.3-3.4 GPA, 2-3 internships, a very relevant minor like Business Analytics, etc. So what if you have a 3.1 GPA & only one internship? It's OK! You can still get the best jobs out there! Maybe you interview great, maybe you really connect w/ the corporate culture, maybe you have stronger soft skills, etc. What if you have a 2.7 GPA & have to take a job w/ a mom & pop 3PL for $48,600? What's wrong w/ that?! Yes, there might be consequences for not getting more experience, for not having a higher GPA, for not having a BA minor, etc., but, it is America. You get 2nd+ chances.
Also, the top 20% in our program are getting offers 64K-78K from the F500 types. Not all orgs can compete against these offers & try not to focus too much on $. The $ will come no matter what if you have a challenging job. Try to make an assessment based on things beyond $. I know it is hard to do but you have to think long-term, & long-term the $ will come.
The most important part of your long term earning potential is not your starting salary, but what your resume will look like 3-5 years from now. In other words, what will you accomplish & what will you be doing in your first job during the first 3-5 years of your career?
#joboffer #negotiation
Notice how a lot of these jobs are in the supply chain. "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
www.visualcapitalist.com/sought-after-entry-level-jobs-of-2023/
The U.S. supply chain contains 37% of all jobs, employing 44 million people. See:
The Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw.
Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.”
A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.”
The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt.
Nice SCM salary report summary: lnkd.in/dTneTGgw.
#supplychain #jobs #economy
Hello I’m from Ontario Canada I’m starting a supply chain course in January I’ve done lots of research on the course and they have tons of job opportunities in my area and tips ?
I would read and watch as much as you can, because much of the Intro material can be self taught. My website has tons of free material to watch and read from. Also, connect with me on LinkedIn and follow my posts. It is largely geared towards undergrads majoring in SCM. Finally, the goal should be to get professional SCM work experience while you are in school so that you are job ready upon graduation. Students that are job ready have multiple job offers to choose from. Last note, master the technology, get a minor in something that resembles Data Analytics.
What does a "material" reduction mean? Data?...“Companies such as IBM, Accenture and Google have all worked to reduce the number of jobs that require degrees-and many more are taking steps to do the same. According to a 2022 report by Burning Glass Institute, a labor market research nonprofit, some 46% of middle-skill occupations and 31% of high-skill occupations saw a “material” reduction in degree requirements between 2017 and 2019.”
No degree? No problem: 10 highest-paying jobs without degree requirements:
Take this one with a grain of salt, notice #6: Supply Chain Manager:
lnkd.in/g_k6q9gv
· Average earning potential: US$108,141 per year
“Supply chain or logistics managers have never been in greater demand than after the COVID-19 pandemic…As the supply chain industry expands, it offers you great potential to progress in your career…While studying for a degree in supply chain management can help you learn more about the industry, you can start working at an entry-level as a supply chain administrator…As you work your way up management, consider completing professional development courses from the global leader in supply chain management, the Association for Supply Chain Management.”
Also from Indeed…Best Entry Level Jobs With and Without Degree Requirements: lnkd.in/gX8p-fKP.
lnkd.in/gjhtECnF
"Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
Ranked: Median Student Debt for a U.S. College Degree:
lnkd.in/g_Eaq7zu
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021):
lnkd.in/gWTxiFch
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
90% of 2023 graduates think college is really worth it. Here’s why they’re right-and politicians and pundits are wrong: lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
#supplychain #careeradvice #salary
Great read (see our new apprenticeship program below):
The Supply Chain Of Supply Chain Talent Is Broken
www.forbes.com/sites/ryancraig/2024/02/08/the-supply-chain-of-supply-chain-talent-is-broken/?sh=6f7678dc69d7
From article…“In some ways, it’s odd supply chain & procurement hadn’t come to the forefront sooner….Managing complex processes on paper or w/ spreadsheets is impossible…All told, the supply chain may comprise as much as 37% of all jobs - 44M jobs…64% of companies are experiencing a supply chain talent gap...Colleges aren’t providing any coursework or training on Salesforce, Workday, or SAP. And if they’re not doing that, they’re highly unlikely to introduce specialized procurement and supply chain platform curriculum.”
NOTE: there are programs (not many though) providing the knowledge and skills the writer is lamenting. For example, in regards to apprenticeship programs:
We just concluded a co-op pilot program with a F500 company that was highly successful and has started its second iteration in 2024. So, what makes this Co-op program different?
It is based on the European apprentice programs, whereby students work part time as an integral part of their studies. The advantages are that students learn from hands-on experience, while also earning college credits.
It is not students with a part time job next to their studies. In this program students work with company mentors and WMU-SCM faculty on projects that are directly linked to the SCM curriculum. At the end of every semester presentations are made to the company and WMU-SCM faculty members. At this point it is decided if both parties want to continue the engagement and, what the student’s grade is. Students can earn up to three courses (nine credit hours).
Because of the required time, effort, and resources, i.e., investments, that the employer commits to the students, the learning experience and personal growth the students achieve from the Co-op program is unique.
At the same time, the engagement between employer firm and WMU-SCM faculty improves on our industry relations, and provides yet additional opportunities for research support from the firm to the WMU-SCM program.
The next company who will start a similar Co-op program will be another F500, yet another board member AND a corporate sponsor of the WMU-SCM program, underlining the commitment of our industry partners to the success of our students.
Students are selected through a half day long hiring event. Together with employer and input from the WMU SCM leadership, we pre-select students. We travel up to HQ with them, where the students take an office tour, learn about the company, and they take part in interviewing sessions with several managers.
___
WMU Supply Chain Management Program:
lnkd.in/erU3yTTW
Delia Dohm’s curiosity guides her to success as the first WMU student in new co-op program:
lnkd.in/emQrD2mk
Thank you Ryan Craig for a great read (very timely in my world).
hashtag#supplychainmanagement hashtag#logistics hashtag#procurement hashtag#college hashtag#apprenticeships
Five reasons why CEOs need to drive supply chain excellence from the top:
“Some of the world’s leading CEOs today emerged from supply chain roles. Many have carried over their relentless focus on supply chain excellence into their leadership approach, proving to be invaluable in recent times….A deep understanding of supply chain issues is now a critical skill set for any C-suite leader.” lnkd.in/gVXyzaEn.
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…
"...it’s clear that supply chain pros are poised to become the most powerful executives in the world..." lnkd.in/g2rhdEAH.
Why supply chain pros make great CEOs (2015!). lnkd.in/g6HJgvX3.
Supply Chain Leaders Making The Move To CEO: Why the change? lnkd.in/gXqaMWU4.
How a Background in SCM Can Set You on the Path to CEO: lnkd.in/gp42y_Q9 & lnkd.in/gxeu2a5B.
Supply Chain Leader Traits That Make for a Great CEO. lnkd.in/gyYCRe9s.
The Next-Gen CEOs Will Be ex-Supply Chain Leaders. lnkd.in/guyQRJ-D.
Moving supply chain leaders to the C-suite: lnkd.in/gU366dTD.
Top 10 CEOs Who Have Had Roles in Supply Chain: lnkd.in/gkzVaZKc.
CFO to CFO: Finance and SCM...lnkd.in/gFv3gqgn.
Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical…lnkd.in/gBPZJsVq.
lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT.
#supplychain #ceo #csuite #cfo
SCM Data Scientist (171K jobs on LinkedIn!), Does your school teach this (we do)? Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
Employers require these skill sets from their SCM professionals. Do you know...big data/predictive analytics, database mgmt, data mining, project mgmt, SQL, Python, PMO, Tableau, Power BI, etc.?
Business analytics addresses an increasing demand in orgs of all types to understand data related to their operations. Investments in information systems throughout the enterprise over the last 10+ years are generating huge amounts of data, & orgs will spend at least the next 10 years developing processes that generate insight from those data.
In addition to data generated internally, many orgs are exploring the effects of external data, primarily present in social media, web search, mfg, & SUPPLY CHAIN. The ability to manage data to support business projects are the key to success in many disciplines. Business analytics will provide a comprehensive skill set for SCM professionals & future SCM graduates to analyze, VISUALIZE (Tableau & Power BI), & report data.
Job Trend
Data analytics plays an important role in the second decade of the 21st century. Tools supporting business analytics are exploding. Software designed to obtain data from multiple sources & transform them into actionable intelligence is a multi billion dollar business growing at 14 to 18 percent per year. The higher demand of analytics skills in business provides solid support for employers to demand this from future SCM graduates.
Academic Offerings (does your school teach this?)
Academic institutions are responding to the business analytics demand trend. In a recent study, more than 390 courses containing analytics content were taught in higher education.
· At WMU, over half of their supply chain majors are picking up the business analytics minor per employer interest. These students are commanding a premium in the job marketplace as a result with starting salaries for well over $60K (many are in the 70s).
See link below for a partial list of universities offering concentrations/minors.
lnkd.in/eMPTFCd
____
Python is a must-have skill.
lnkd.in/gf_UWz5x
(1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization.
lnkd.in/gKV4dw2z
Anaconda +Jupyter Notebook + Python + visualization libraries
lnkd.in/gHnUrVZz
Do you know how to use Power BI or Tableau?
lnkd.in/g9pgFErz
Hello Sime, i hope you're doing well! what are your views on MBA in SCM? TIA
Hello: see -
www.linkedin.com/posts/sime-curkovic-61617a115_hottest-mba-degree-now-supply-chain-management-activity-6882696153184378880-uiTq
www.linkedin.com/posts/sime-curkovic-61617a115_forget-financesupply-chain-management-is-activity-6882372564593741824-GdUf
When is the right time for grad school? The average age is 33. lnkd.in/eTk-PXPv
I find this stat to not be too meaningful. For anyone
Notice what happens to salaries as you get certified and get a graduate degree...
Careers in Purchasing and Supply Management
Average Salaries (this is actually a few years old so the current numbers are even bigger)
The Institute for Supply Management™ (ISM) surveyed supply management professionals during January and February to determine average salaries in the supply management profession. This report presents summary results of the survey that is based upon salaries earned during the calendar year. A full report is available to ISM members in the Online Career Center. Some of the key result are listed here. Keep in mind that there are a variety of factors that determine the actual salary you may earn. Salaries vary based on such issues as business climate, work experience, industry, education, certification status, personal ambition, cost of living, and organization budget.
Overall average for supply management profession $102,218
Average for those with five or fewer years of experience $ 69,350 (average for WMU ISM graduate is around $60K)
1. Average for those with BS/BA in business $ 99,490
2. Average for those with one or more credentials $102,498
3. Average for those with a Master's degree $123,090
Note, there are some orgs that do not place a premium on a grad degree. SCM might actually be the quickest career path to six digits w/o a grad degree because rewards tend to be very performance driven.
lnkd.in/eQvfFMc
If interested see, Do you want a full time job to begin in a job rotation? lnkd.in/e3EYjtsE
More thoughts & help:
lnkd.in/eXSyc5MF
lnkd.in/epCzGXvs
Graduate Program Salary & Placement Trends
Salary:
• Supply chain MBA average salary is $91,949, up from $88,935, in 2018
• MSSCM average salary is $85,879, up from $83,066
• Top ten schools → MBAs average well above $100K; many MSSCMs also
Placement:
• 45% of students are already employed and plan to continue to work for their employer post-graduation
• 42% secure a new job prior to graduation and 18% were employed by three months after graduation (average totals will exceed 100%)
If you lack these skills, go get your MS in Data Analytics before you miss the boat. These skills would include: big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI, etc. Fortunately, most of my undergrads walk away with these skills. Just like AI, the boundaries of what is and what is not Industry 4.0 (supply chain 4.0, digital transformation, digitized supply chain, etc.) is quite blurry. These days any product with even a tiny element of AI/ML is claimed to be an AI product.
Note, most mini MBA’s have an entire course dedicated to SCM Finance. Good luck climbing up the corporate ladder if you cannot talk to your CFO. I like SCM Finance so much, I encourage my students to get a graduate degree in Finance if they already have world class technology skills & a SCM background.
If SCM professionals lack Finance skills, they will hit a ceiling professionally:
th-cam.com/video/sRl2O5YI2h8/w-d-xo.html
This is a great read that helps explain why a Finance graduate degree might make sense for a SCM professional:
Great read:
www.ismworld.org/supply-management-news-and-reports/news-publications/inside-supply-management-magazine/blog/2021/2021-01/the-monthly-metric-cash-flow-from-operations/
I am not convinced about the whole MBA thing (though the data still makes a good argument for a strong ROI)...
lnkd.in/eW_F27BN
lnkd.in/eTk-PXPv
lnkd.in/e3EYjtsE
lnkd.in/eQvfFMc
lnkd.in/eX-2GgPp
lnkd.in/ejRNPgfq
“The last time the U.S. labor market was this strong was in 1969…Although manufacturing hasn’t seen the highest gains, the sector has one of the lowest unemployment rates across job sectors, at 2.4%. Yet the industry faces an acute labor shortage-if every skilled unemployed worker were to fill open job vacancies, a third of jobs in durable manufacturing would remain open.”
www.linkedin.com/posts/sime-curkovic-61617a115_visualized-the-state-of-the-us-labor-market-activity-7038877132286042112-BobS?
__
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. WMU supply chain grads from 2022 have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic.
lnkd.in/gwfAHdkW
lnkd.in/gyRiv9_x
Entry-Level Supply Chain Positions | Average Salary: $69,000
Mid-Level Supply Chain Positions | Average Salary: $115,000
Senior-Level Supply Chain Positions | Average Salary: $260,000
Also:
Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000
Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000
Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000
Source: lnkd.in/ga8Azij7.
Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5
Logistician, $74,750
Logistics analyst, $58,713
Supply chain planner, $64,844
Purchasing agent, $69,600
Purchasing manager, $121,110
Logistics manager, $114,670
Distribution manager, $94,775
Operations manager, $100,780
Business & SCM competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%.
Top two:
Microsoft Office/productivity tools
Advanced Microsoft Excel
Technical skills
Among the top and fastest-growing technical skills are:
Data science
Supply chain knowledge
Supply chain management
Project management
Many of our SCM students get a Business Analytics minor, what does that mean? See:
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
#supplychain #datascience #dataanalytics #college
College majors have a big impact on income. Here are the highest- and lowest-earning fields.
"The typical college grad between 25 to 64 years old has an annual income of $127K, compared w/ the typical pay of $61K for those w/o a degree...& college grads on avg have 4x the wealth as workers w/o bachelors degrees."
www.cbsnews.com/news/college-major-top-and-lowest-earning-majors-impact-on-income-pay/?hss_channel=lcp-598009
Indeed has material on supply chain careers...70 Job Titles in Supply Chain (w/ Avg Salary): lnkd.in/gUAk4SPG. 11 Benefits of SCM Careers: lnkd.in/gXG9EkEF. What Does a Supply Chain Manager Do? lnkd.in/gFxhqH2m.
12 Supply Chain Certifications To Advance Your Career
lnkd.in/gHBkZ5cM
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. Hmm. Please take stats like this w/ a grain of salt (i.e., measurement, methods, sample size, context, etc.), but…Supply & demand conditions for SCM majors/pros might be very favorable moving forward.
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review.
lnkd.in/gbV_aMT7
WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right?
Supply Chain Manager Salary: Your 2023 Guide: The job growth rate for logisticians is high, at 28% between 2021 & 2031. Compared w/ 5.3%, the job outlook for all occupations, that is a promising figure for future supply chain managers. lnkd.in/grxANayH
How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gNCq6eYR
Industry outlook and trends
lnkd.in/gCNG4EqB
More data:
For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9
In Michigan: Hot Top 50 Job Outlook: “a 29.7% increase in demand for logisticians” & “The most in-demand, high-wage jobs will be operations managers, w/ an annual need of more than 6,500 & a wage of $29-72/hr”. lnkd.in/gYbWCSQQ & lnkd.in/gzqRPEPr & lnkd.in/g9T2fU_d & lnkd.in/g_G-xwFv.
#supplychain #careerguidance #job #career
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…CEOs Will Come from an Unlikely Place: The Supply Chain...
www.linkedin.com/posts/sime-curkovic-61617a115_tomorrows-ceos-will-come-from-an-unlikely-activity-6999055149319036929-aRIQ?
"...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..." Note, this article (2018) was written before covid. Multiply the above statement by a factor of at least two. lnkd.in/g2rhdEAH
More reads to back up the assertion that future CEOs will have SCM backgrounds...
Why supply chain professionals make great CEOs:
To become CEO, according to a recent Business Insider article, the move to an operational role is a common segue for many CFOs seeking the top spot. That’s not a coincidence: many companies seek out their CEOs from roles that are operational, such as supply chain management. A famous example, of course, is Tim Cook, CEO of Apple, who was COO before becoming CEO. He is not the only one. Alan George Lafley, CEO of Procter & Gamble, took a commission with the U.S. Navy as a supply officer first, and Mary T. Barra, CEO of General Motors, is known for her strong operations and supply chain management background. Why is supply chain expertise so valuable for future CEOs?...lnkd.in/g6HJgvX3.
_
Why supply chain professionals make great CEOs
The metamorphosis of supply chain from a humble collection of support functions like purchasing, shipping and production to true business leadership is huge. Chief Supply Chain Officers (CSCOs) increasingly control 50% or more of a company’s annual spending, with two thirds of all employees directly reporting to the role. More importantly, CSCOs have begun to play a vital role in strategy development, product and service innovation, and even sales.
Why the change? lnkd.in/gXqaMWU4
_
Supply Chain Leaders Making The Move To CEO
Better supply chain management means better businesses, and better businesses make for a better world.
Very few people make it to the top office of any business without first holding other major responsibilities. The chief financial officer (CFO) role is typically regarded as just such a standard precursor. However, according to a 2015 survey of CEOs in the Forbes 2000, only 13% of CEOs came over from the CFO position. Instead, the trend in recent years has been to move those CFOs into more operational roles, giving them an opportunity to bolster their hands-on abilities within the organization. lnkd.in/gp42y_Q9
How a Background in Supply Chain Can Set You on the Path to CEO
Anyone who’s been paying attention knows that Supply Chain Management has emerged from its status a back-office function to become a major strategic differentiator for business. Welcome the Supply Chain CEO! lnkd.in/gxeu2a5B
#supplychain
I actually have employers tell me they will NOT consider a student if they do NOT have a strong professional LinkedIn presence. Hmm. How to effectively join LinkedIn. lnkd.in/dAwyTUy. I have former students that found new jobs & they were not even looking! Interviewing tools: lnkd.in/gipsXEsK.
www.linkedin.com/posts/sime-curkovic-61617a115_does-your-resume-look-like-a-lazy-effort-activity-7010575035400687616-y6lS?
Also, most employers will not even look at your resume if it looks like a lazy effort. Aesthetics matter!
Yale advice:
lnkd.in/gggJFADW
lnkd.in/gxkjy3sm
Harvard:
lnkd.in/ghEYr3Qw
lnkd.in/gc4Kd_SE
MIT:
lnkd.in/g3xqeDyc
Personally, I prefer WMU’s Career Services manual. Also, WMU HCOB/ISM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). Keep in mind that many schools such as Harvard ($54K/yr tuition), Yale ($58K/yr), & Stanford ($57K/yr) don't offer undergrad business degrees. WMU ($13K/yr) - A Top Business School (take a look at the list): lnkd.in/dn9-BCg
Should current students negotiate an INTERNSHIP offer? The avg SCM internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84
Should grads negotiate a job offer (i.e., a higher starting salary)?
lnkd.in/gMJYNJkh
Virtual career fairs: lnkd.in/evKd-VzQ
Business externship? lnkd.in/e9aeewPa
Placement success of ISM Program - *Median salary was $60K - $65K (around 10% of grads hired on w/ 1 auto OEM at $78K!). "Supply Chain"+"Degree"=jobs & $$. lnkd.in/gV4x6GWE
Will technology replace SCM jobs?
lnkd.in/gX8vcRNa
Global Negotiation: Fastest growing class.
lnkd.in/guTUcvdu
A Top School: lnkd.in/dVdMRXP
Sample Lectures: lnkd.in/e9j33EQ
Power BI or Tableau? Do not be a victim of technology.
lnkd.in/eKEaPGq
lnkd.in/e5zG6sZ
Here is a read on how SCM 4.0 does not have to be super expensive: lnkd.in/eyebnSct
How much Python do I need to know in order to excel in SCM?
lnkd.in/e6Rmzpw
STAR job interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Myers-Briggs. lnkd.in/ehj3ysR
For details on how to build your brand: lnkd.in/dSAA6wF
Similar to MBTI: lnkd.in/ey4TEUY
lnkd.in/exNDhSv
Help with online interviews...lnkd.in/eKBDsMq
Practice before it really matters...lnkd.in/ekaBK5Q
Resume advice...
lnkd.in/eWen96qj
lnkd.in/e7utipBi
lnkd.in/eVEHgvk6
Internships, salary data, etc.
lnkd.in/eNfUzksJ
Covid job market…
lnkd.in/ed-ZfanD
Delay graduation for experience? lnkd.in/ewKu7b_X
Right time for grad school? lnkd.in/eTk-PXPv
Predictive Data Analytics (Excel)…lnkd.in/dQABdsXc
Problem solving #1 skill set! Elon's resume - lnkd.in/eWaJ8q2
#jobhunting #networking #interviewing
I actually have employers tell me they will NOT consider a student if they do NOT have a strong professional LinkedIn presence. Hmm. How to effectively join LinkedIn. lnkd.in/dAwyTUy I have former students that found new jobs & they were not even looking! Yes, aggressive orgs found them via LI. Some firms w/ a market cap of > $1T do this often. Interviewing tools: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of ideas.
www.linkedin.com/posts/sime-curkovic-61617a115_employers-expect-a-strong-li-profile-activity-6997976884756041728-xqiA?
Yale advice:
lnkd.in/gggJFADW
lnkd.in/gxkjy3sm
Harvard:
lnkd.in/ghEYr3Qw
lnkd.in/gc4Kd_SE
MIT:
lnkd.in/g3xqeDyc
Personally, I prefer WMU’s Career Services manual. Also, WMU HCOB/ISM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). Keep in mind that many schools such as Harvard ($54K/yr tuition), Yale ($58K/yr), & Stanford ($57K/yr) don't offer undergrad business degrees. WMU ($13K/yr) - A Top Business School (take a look at the list): lnkd.in/dn9-BCg
Should current students negotiate an INTERNSHIP offer? The avg SCM internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84
Should grads negotiate a job offer (i.e., a higher starting salary)?
lnkd.in/gMJYNJkh
Virtual career fairs: lnkd.in/evKd-VzQ
Business externship? lnkd.in/e9aeewPa
Placement success of ISM Program - *Median salary was $60K - $65K (around 10% of grads hired on w/ 1 auto OEM at $78K!). "Supply Chain"+"Degree"=jobs & $$. lnkd.in/gV4x6GWE
Will technology replace SCM jobs?
lnkd.in/gX8vcRNa
Global Negotiation: Fastest growing class.
lnkd.in/guTUcvdu
A Top School: lnkd.in/dVdMRXP
Sample Lectures: lnkd.in/e9j33EQ
Power BI or Tableau? Do not be a victim of technology.
lnkd.in/eKEaPGq
lnkd.in/e5zG6sZ
Here is a good read on how SCM 4.0 does not have to be super expensive: lnkd.in/eyebnSct
How much Python do I need to know in order to excel in SCM?
lnkd.in/e6Rmzpw
STAR job interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Myers-Briggs. lnkd.in/ehj3ysR
For details on how to build your brand: lnkd.in/dSAA6wF
Similar to MBTI: lnkd.in/ey4TEUY
lnkd.in/exNDhSv
Help with online interviews...lnkd.in/eKBDsMq
Practice before it really matters...lnkd.in/ekaBK5Q
Resume advice...
lnkd.in/eWen96qj
lnkd.in/e7utipBi
lnkd.in/eVEHgvk6
Internships, salary data, etc.
lnkd.in/eNfUzksJ
Covid job market…
lnkd.in/ed-ZfanD
Delay graduation for experience? lnkd.in/ewKu7b_X
Right time for grad school? lnkd.in/eTk-PXPv
Predictive Data Analytics (Excel)…lnkd.in/dQABdsXc
Problem solving #1 skill set! Elon's resume - lnkd.in/eWaJ8q2
#jobhunting #networking #interviewing
The U.S. supply chain accounts for 37% of all domestic jobs. “The last time the U.S. labor market was this strong was in 1969…Although mfg hasn’t seen the highest gains, the sector has one of the lowest unemployment rates across job sectors, at 2.4%. Yet the industry faces an acute labor shortage-if every skilled unemployed worker were to fill open job vacancies, a third of jobs in durable mfg would remain open.”
www.linkedin.com/posts/sime-curkovic-61617a115_visualized-the-state-of-the-us-labor-market-activity-7042865244666286080-zkZf?
_
WMU supply chain grads from 2022 have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. lnkd.in/gwfAHdkW
lnkd.in/gyRiv9_x
Entry-Level Supply Chain Positions | Avg Salary: $69,000
Mid-Level Supply Chain Positions | Avg: $115,000
Senior-Level Supply Chain Positions | Avg: $260,000
Also:
Entry Level Mfg Jobs | Salary Range: $66,000 - $78,000
Mid-Level Mfg Jobs | Range: $110,000 - $143,000
Senior-Level Mfg Jobs | Range: $239,000 - $338,000
Source: lnkd.in/ga8Azij7.
Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
Again, the U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5
Logistician, $74,750
Logistics analyst, $58,713
Supply chain planner, $64,844
Purchasing agent, $69,600
Purchasing manager, $121,110
Logistics manager, $114,670
Distribution manager, $94,775
Operations manager, $100,780
Business & SCM competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%.
Top two:
Microsoft Office/productivity tools
Advanced Microsoft Excel
Technical skills
Among the top & fastest-growing technical skills:
Data science
SCM knowledge
SCM
Project Mgmt
Our SCM students get an Analytics minor:
lnkd.in/gxRayD3j
Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr. Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt.
More $: lnkd.in/gSYKjixY. CIPS reveals a 7.4% avg increase & the avg for all SCM pros in N.A. was $111,278. Global: lnkd.in/gxbTMSyx.
#supplychain #datascience #dataanalytics #college #bigdata #careeradvice
Why won’t the supply chain just adopt AI & data analytics software? AI helps manage the supply chain. So what’s the delay? Great read. They keep quoting this Curkovic guy. lnkd.in/gdkFhRST. OK, I am no sage, but notice the common themes with sages such as Mr. Jim Tomkins:
www.linkedin.com/posts/sime-curkovic-61617a115_barriers-toward-adopting-ai-and-analytics-activity-6955927174734364673--p_v?
www.g2.com/articles/ai-and-analytics-in-the-supply-chain
"There has also been a lack of urgency in embracing digital supply networks, which is the only way to deal with perpetual disruption. End-to-end digital supply networks use artificial intelligence, machine learning and data analytics to bring visibility and actionability to every enterprise in a supply chain from raw material to finished product. This offers true optionality."
"The supply chain task at hand is not an enterprise problem; it is an end-to-end network problem involving multiple enterprises. The solution does not lie with fixing one link in the chain but in devising an ecosystem where all the links of the chain work together with a real-time single version of the truth, using artificial intelligence and machine learning capabilities to beget an autonomous digital supply network."
lnkd.in/gjhWUtUH
___
I wish more high rollers were doing this (& then made it cheap & easy to use for all the mom & pops):
Bosch & AWS enter into collaboration to digitalize logistics
lnkd.in/ghpyp5wW
___
I recently attended the Tableau Conference, where I indulged my nerdiness for four days. As a self-described data science evangelist, I was thrilled to see autoML, natural language generation, and other advanced automation features be added to Tableau, one of the world’s leading data visualization and business intelligence platforms.
While there, I met people who have also bought into the data revolution and are seeing immediate impacts on their businesses’ productivity and performance. As a tech worker, exposure to data science and analytics is an everyday part of the job, but it is certainly not in the industry I research: the supply chain. So I continue to ask myself, “Why won’t the supply chain just adopt artificial intelligence and data analytics software?”
In this article, I will break down the cultural and logistical barriers the supply chain faces in meeting the data analysis demands the pandemic brought on. I’ll also talk about steps that are being taken to address this and how G2 helps businesses create a modernized supply chain.
lnkd.in/gi_mFCpt
#supplychain #supplychainmanagement #dataanalytics #saas #datavisualization #tableau #powerbi #python #datascience #bigdata #digitization #industry4 #logistics
14%?!...“Only 14% of procurement leaders express confidence in their talent’s ability to meet the future needs of the function, according to a survey by Gartner, Inc. The finding comes as business acumen and technology/data competencies have rapidly grown in importance over more traditional procurement skills.”
www.gartner.com/en/newsroom/press-releases/2023-11-29-gartner-says-only-14-percent-of-procurement-leaders-have-adequate-talent-to-meet-future-needs-of-their-function?source=BLD-200123&SM_GB_YOY_GTR_SOC_BU1_SM-BA-PR
This is one reason that we created our new AI course - to create AI awareness and skills, and it is designed for non-technical majors. We will be offering that course again in spring 2024 semester. Per conversations with our CIS faculty…lnkd.in/gJ-YjJKD.
Do not be a victim of technology! You could make the case that every Business major should minor (or double major) in Data Analytics. These skill sets would perhaps include: Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
lnkd.in/guvjPb_V
Common theme: BIG DATA is not going away: lnkd.in/g5UizdeN.
In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gxHRzjkE
lnkd.in/eqiqSMRb &
lnkd.in/gXYSQKc7.
CIS 4640 - Business Data Mining
This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. lnkd.in/geBPVWAD.
Top logistics priority is hiring...
lnkd.in/gWAxgdaG
hashtag#python hashtag#bigdata hashtag#dataanalytics hashtag#technology hashtag#ai
14%?!...“Only 14% of procurement leaders express confidence in their talent’s ability to meet the future needs of the function, according to a survey by Gartner, Inc. The finding comes as business acumen and technology/data competencies have rapidly grown in importance over more traditional procurement skills.”
www.linkedin.com/posts/sime-curkovic-61617a115_gartner-says-only-14-of-procurement-leaders-activity-7135983119236567041-aI_U?
This is one reason that we created our new AI course - to create AI awareness and skills, and it is designed for non-technical majors. We will be offering that course again in spring 2024 semester. Per conversations with our CIS faculty…lnkd.in/gJ-YjJKD.
Do not be a victim of technology! You could make the case that every Business major should minor (or double major) in Data Analytics. These skill sets would perhaps include: Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
lnkd.in/guvjPb_V
Common theme: BIG DATA is not going away: lnkd.in/g5UizdeN.
In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gxHRzjkE
lnkd.in/eqiqSMRb &
lnkd.in/gXYSQKc7.
CIS 4640 - Business Data Mining
This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. lnkd.in/geBPVWAD.
"Supply Chain" + "Data Analytics" = jobs and $$$$. In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization.
lnkd.in/gXYSQKc7
We do our best to go in-depth in all these three areas. Based on the feedback we received from students, they are interested in learning about all three areas & found them helpful during their job search. However, it is not possible to talk about both Tableau & Power BI visualization because of the time limitation. Therefore, we decided to cover Power BI in one section & Tableau & Tableau data prep in the other section. As you know, ETL is one of the most important skills they need for visualization. Therefore, we always teach Power Pivot a & Query, which are foundations for Power BI in both sections. There are 8 assignments in the class. At least two are about Power Query & Power Pivot and two about Visualization in Tableau or Power BI.
I personally would encourage students to have an open mind on tool usage. The whole reason of teaching both Tableau and Power BI in our curriculum is backed by industry evidence, rather than by one or two individual companies. Both visualization tools have been in the best quadrant (i.e., leaders-visionaries quadrant) of Gartner’s “magic quadrant” survey for analytics and business intelligence platforms for years. So, it is not true that Tableau is not used at many companies. Kellogg’s, for example, is basically a Tableau shop.
The bottom line is that it really doesn’t matter which tool students learned (as long as there is industry evidence to support the tool selection). The two tools share so many similarities. Usually one should be able to transition from one tool to another with minimal learning.
I think one way going forward is probably this:
If ISM students already know what tools they are going to be using at the internship or job, they might want to talk to us first before taking CIS 3640. This will help them pick the desired course section. Otherwise, it is hard for us to predict what analytics & visualization tools each student will be using and which company they will end up working.
What if you are a student that wishes to learn both Power BI and Tableau, but your instructor only covers one? Unfortunately covering both in one single class will not give either one a fair coverage. In the end, students won’t have good skills in visualization. This is the reason we offer two sections, one for each tool. The good news is that Power BI is a free download. Here is what I recommend students do:
1. Download Power BI
2. Go through the video tutorials of Power BI online (e.g., lnkd.in/gEYERYay)
3. Work on class exercises and assignments in both Tableau and Power BI. Many things are available in both tools. That makes it possible to replicate certain parts of class exercises and assignments in Power BI.
Do supply chain managers need the technical skills to interact well with engineers? Why do WMU ISM supply chain graduates interact so well with engineers? Answer: We make them take engineering classes. lnkd.in/ei79SUB
Engineers wanted for SCM Jobs! Watch: lnkd.in/e6U74N6k
_____
A company forwarded me a job posting for an entry level position in supply chain & they especially wanted a SCM major with some of these skill sets (Special Product Procurement Specialist):
1. Collaborate with engineers, manufacturing team members, designers, suppliers, tool builders, and associates to complete Engineering Change Orders. (Our students learn this in EDMM 1420: Engineering Graphics)
2. Must be familiar in the use of common quality system processes such as sample submission, capability studies, etc. (Our students learn this in EDMM 3280: Quality Assurance & Control)
3. Basic understanding of manufacturing processes used for metal fabrication, concrete, wood, and plastics is preferred. (Our students learn this in EDMM 1500/1501: Processes & Materials in Mfg Laboratory)
4. Must possess the ability to read & interpret blueprints. (Our students learn this EDMM 1420: Engineering Graphics)
5. Must be able to add, subtract, multiply, & divide in common units of measure & have a working knowledge of data collection, data analysis, and evaluation. (Our students learn this in CIS 2640: Big data/predictive analytics)
Yes, this company is located in Kalamazoo & they know they can find the talent at WMU.
_____
A few months ago, I had an HR manager tell me she had two entry SCM jobs but she was hoping for a CIS type for one & an engineer for the other. I asked her what about a SCM major that has super strong data analytics skills & takes engineering classes. She then asked: Does that even exist? I said YES. Reminder: many WMU ISM students are Business Analytics minors & all are req’d to take engineering classes.
Why was the WMU ISM supply chain program ranked 2nd in SCM technology by SoftwareAdvice? Answer: Because our students minor in Business Analytics - lnkd.in/er3xiWj
• Minor (the most popular for our SCM students): Business Data Analytics (e.g., big data & predictive analytics, database management, data mining, project management, SQL, R, Python, PMO, Tableau, Power BI)
Why do WMU ISM supply chain graduates interact so well with engineers? Answer: We make them take engineering classes.
EDMM 1420 Engineering Graphics
EDMM 1500 Introduction to Manufacturing
EDMM 1501 Processes & Materials in Manufacturing Laboratory
EDMM 3280 Quality Assurance & Control
EDMM 4870 Manufacturing Productivity Techniques
EDMM 4880/MKTG 4880 Applied Process Reengineering
EDMM 5120 Management of Service Operations
WMU ISM students continue to get professional work experience during covid: lnkd.in/emANEgK. Thank you Senneca/Eliason, Getman, & Lane Automotive for Fall 2021 projects. Problem solving has kept moving up & is now number one!
It has actually passed leadership. What is ranked #6 (answer: leadership)? Why do you think this keeps dropping in the rankings? What is ranked #5 (answer: technology, & it keeps rising)? (see Elon's resume) - lnkd.in/eWaJ8q2
Note, this study is for all business majors, employers, jobs, & college grads. You could make the case that your SCM education covers all the bases for career readiness.
Here is an alarming statistic…
Nearly a third of all supply chain processes are inadequate, according to research from Crimson & Co. Covid kind of brought this front and center.
*For example, from a student resume:
XX Corporation, XX, MI, Project-Based Course; xx 2021 - xx 2021
· Researched cutting-edge warehouse technologies for XX’s new consolidated warehouse.
· Compiled AGV data that resulted in an estimated $357,350 yearly labor cost avoidance.
· Project deliverables included formulating a cost-analysis excel, explaining the implementation and integration of technologies, calculating ROI/payback period, & creation of a project A3.
You have to sell these skills on your resume without actually stating these skills on your resume. Does that make sense?
Note skill sets required of supply chain professionals:
Solid/hard skills required in future supply chain managers include:
· Project management
· Technical understanding
· Cost accounting skills
· Ability to understand financial statements
· Understanding of e-business / e-procurement systems
· Troubleshooting, problem solving
· Understanding of cross-cultural / global issues
· Business ethics
· Understanding of the legal issues involved in managing contracts
Other soft skills & personality attributes required in future SCM managers include:
· Ability to communicate effectively through presentations, email, one-on-one, & team discussion
· Ability to logically organize thoughts
· Ability as a natural facilitator to enable team-based decisions
· Time management
· Leadership
· Understanding of customer’s expectations
· Vision - creating the environment
· Desire to learn
· Ability to present oneself with confidence
· Ability to think on one’s feet
· Ability to pass on knowledge & mentoring
Resume Keywords/Action Verbs: lnkd.in/ea6gV-K
The WMU ISM program has teamed up with several firms to provide every student w/ a remote work experience.
>200 projects since 2008.
Sample Live Lean 6 Sigma Projects:
lnkd.in/ejh-m3H
lnkd.in/euaRn6D
lnkd.in/ekhu3YHA - WMU has one of the best business colleges.
STAR interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
Thank you Denzel Tracey and Nicholas Altman, SCM majors from the University of South Florida. You took amazing initiative to make all of this happen. I had a great time with you and the future of SCM is very bright with talent like yourselves in the pipeline. Employers: start recruiting these two!
www.linkedin.com/in/nicholas-altman/
and
www.linkedin.com/in/denzeltracey/
Thank you again gentlemen! Sime
I am not convinced about the whole MBA thing (though the data still makes a good argument for a strong ROI)...
lnkd.in/eW_F27BN
lnkd.in/eTk-PXPv
lnkd.in/e3EYjtsE
lnkd.in/eQvfFMc
lnkd.in/eX-2GgPp
lnkd.in/ejRNPgfq
Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5
Many of my students have come back to school from their summer internships. Many of them received full time offers from their internship and most have accepted (5-10 months ahead of graduation!). Some of them even got a little signing bonus for pocket change.
Note, most companies will only give them 1-2 weeks to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want).
Most of the job offers begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5
In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number.
Advantages for students:
· Rapidly learn about your industry of interest
· Work on a diverse set of projects
· Find a mentor & learn about your potential career trajectory
· See what makes the company great
Students should ask:
· What are the goals of this program?
· How long will the program last?
· When does the Job Rotation Program Start?
· Will I be a full-time employee during the program (i.e. receive paid leave, benefits, etc.)?
· How many rotations will I go through, & how long will each be?
· What are some rotation assignment examples?
· Will I get to choose which rotations I go through or will they be assigned?
· Who will I report to?
· Will there be others in the program along with me?
· Will there be opportunities for mentorship?
· Will there be opportunities for professional development?
· Will I be offered a full-time permanent position after completing the program?
_____
I have soooo many students asking about STAR job interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR.
More help:
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Help with online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq
Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q
______
Students are getting lots of job offers...
Reneging: Once you commit, quit! lnkd.in/e85beQ2
In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege?
FYI: Female Supply Chain ISM Students…
____
Female Supply Chain students & professionals (the opportunities are endless). lnkd.in/egF4kWM
For every $1 made by a man in the state of Michigan, women earn $.76 (used to be $.66). That is around the ninth largest gap in the country (we used to be third worst). Nationally, the gap is $.18. Note, the opportunities right now in SCM are endless for everyone, especially women.
According to ISM's median salary data, women in the supply-chain sector earned 81 cents for every dollar that men did in 2017. The median salary for women was $88,000, compared to $108,000 for men. Experts say a range of factors play into the gender pay gap, including discrimination and different career choices. (May 29, 2018)
More current data: lnkd.in/eXkTUdt
The pay gap between men and women in supply chain careers that had been narrowing over the past few years reached a milestone in 2020 as women under 40 reported earning higher paychecks than their male counterparts for the first time, according to an industry survey published recently.
The Association for Supply Chain Management’s (ASCM) 2021 Supply Chain Salary and Career Report polled 2,200 industry professionals about their annual pay and benefits as well as other career attributes, including job stability, satisfaction, & career opportunities. According to the report, women under the age of 40 earned a median salary of $81K annually while men in the same age group reported earning a median salary of $79K annually. Survey data for women and men over 40 painted a different picture: The difference between men and women’s salaries in that age group ranges from $12K to $23K, with men earning more.
Most larger Fortune 500 types of organizations have diversity goals. However, a lot of disciplines such as IT, CIS, engineering, etc., are predominated by males and it is difficult for companies to meet their diversity goals with jobs in these areas. However, they can meet these goals for jobs that require a business degree (i.e., SCM) because there is a significant percentage of females majoring in SCM. In fact, at many schools in SCM, women make up over 50% of the students. At WMU, our female SCM students tend to be our best.
Women Climbing Supply-Chain Ranks Find a Growing Salary Gap
lnkd.in/eeKKSNd
2021 BEST EMPLOYERS FOR WOMEN:
lnkd.in/eagsxec6
For great material and details on this, see:
lnkd.in/enCSHNH
lnkd.in/e88KjHM
lnkd.in/eD2w7Ap
lnkd.in/evpa7hT
lnkd.in/ewmMats
lnkd.in/ewHRVzG
lnkd.in/e5zG6sZ
lnkd.in/ejY_rUi
This great student got this great job. He majored in “Supply Chain” & minored in “Business Data Analytics” & “Accounting”. Note, college accounting to me is SCM Finance (a hugely important skill set for your long term advancement opportunities lnkd.in/e2TztjY).
Supply Chain Data Scientist (>171,000 jobs on LinkedIn - that's all).
Supply Chain Finance (>25,000 jobs on LinkedIn - that's all).
__
Leveraging learning for supply chain success (lnkd.in/dBpmWj2j)
Senior Brian Guadarrama has found a strong link between WMU’s integrated supply management program and incredible career opportunities. Through his classes, team projects and other hands-on experiences, he has discovered a passion for working with suppliers and customers to solve complex problems in the supply chain field.
Brian, who also minors in business analytics and accounting, is ready to bring his ideas and expertise to the field, all while striving to meet customer satisfaction in an evolving industry. He has already landed his ideal job, and after graduating in December 2021, he will begin his career with Steelcase as a supplier quality engineer. “I am especially eager to use my knowledge in data modeling to provide fast solutions,” Brian says. “The variables are always changing. What was right and works today will not necessarily work tomorrow. This daily challenge of meeting customer expectations in a fast-paced environment is what I am most excited about.”
Brian has been able to build a robust professional portfolio at Western. The Business Bronco has been an active member in the Supply Chain Management Association and Phi Sigma Pi national honor society and has participated in many events through the Zhang Career Center. In fact, Brian’s favorite experience at WMU Haworth has been the career exploration process, including practice interviews, resume critiquing and career fairs.
A valuable part of those experiences was hearing feedback from professionals and discovering roles that would be a great fit for his goals and interests. “I have spoken with the top leadership at Steelcase, and they are moving into a unique space of data modeling to help with decision making,” Brian explains. “During my business analytics courses, we covered topics like data modeling and mining. I am excited to see where I can leverage these skills from the classroom to my career.”
Another experience that stands out to Brian is an A3 project that he worked on in Dr. Sime Curkovic’s class. Used by many supply chain professionals, A3 is a continuous-improvement process that applies a strict, simple procedure to problem solving. The assignment allowed him to collaborate on real ideas, plans and goals with an existing company, which was a bonus on his resume for employers. “When I was doing interviews, this A3 course project I worked on was gold. Employers love to see you demonstrate your skills,” Brian says.
Brian has some words of advice:
lnkd.in/dBpmWj2j
New trend/question when managers ask me about students: How professional is their email communication & attention to detail? Hmm. Hey College Students: Do not begin an email message with “Hey” & always finish it with “Thank you.” Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s probably way more). Will Email Stand The Test Of Time?
lnkd.in/gz9NTye2
Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). It might be the first impression you create!
lnkd.in/ge9nGrjx
lnkd.in/evaNVnbv
I just saw this one from a current student & liked it...
lnkd.in/gqMRPeTC
Do NOT round up your GPAs, use a post script on your phones for email replies, take your email signatures VERY seriously, & use keywords on your resume.
Students should not change their official GPA for their resume. Instead, I recommend they calculate their major GPA using the courses required for their major & also list their overall GPA (especially if your major GPA is much higher than your overall & your overall is under a 3.0).
Also, a 2.96 GPA is not a 3.00 GPA. If an employer requests an official transcript be sent upon graduation (which they will), this could be labeled as "falsification of employment record" & as a result, an offer of employment can be revoked (if you round up your GPA).
I am noticing that several of my students are responding to my emails via smart phones. That is fine. It is 2022 & your future employer will expect you to do the same. However, it can be cumbersome to write emails on your phone that are clean & easy to read. & sometimes, you try to write one word but another word appears that was not intended. So, please take the time to make sure your reply message looks professional & reflects positively on you. Impressions will be made based on your written communication & you will be judged. I would also recommend programming your phone so that the post script tells the recipient of your message that it was sent from your smart phone. That way people will be less judgmental if a mistake was made.
You can add the message in your iPhone settings so that it will appear on all emails sent by phone but not on your email signatures sent by computer.
An appropriate post script message from your phone would be:
“Note: this email was sent by iPhone, please forgive grammatical errors. “
Resume Keywords Ideas/Action Verbs.
Does your resume use these?
lnkd.in/ea6gV-K
Here are my thoughts on resumes:
lnkd.in/gxEy9VkH
lnkd.in/gCgi72kX
lnkd.in/gKV5JYhR
#careeradvice