What is Supply Chain Management? Hottest Degree 2024 (Part 2/3), $100K+/yr by 30: simecurkovic.com
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- เผยแพร่เมื่อ 22 ส.ค. 2024
- Visit: simecurkovic.com. Ready to make over $70K/yr. upon graduation & over $100K by age 30 (& change the world)?
I just created a website and it gives you access to hundreds of my blogs, job postings, hours of lecture videos, & class/research material. Just let me know if you want some material that requires a membership & I will send it to you free of charge.
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Thank you again! Sime
Let’s get started. WMU Top 10: Western Michigan University Integrated Supply Management (ISM)...Nation's best undergrad SCM program (Gartner 2014) wmich.edu/supp...
Dr. Sime Curkovic, professor of supply chain management talks about the opportunities for students who major in supply chain management. This video, directed to potential business students, covers how majoring in a top program like WMU’s integrated supply management program is one of a series of good decisions that you can make in college to set yourself up for multiple job offers, a top salary, and the ability to advance rapidly. The presentation also begins to explore supply chain’s promise of producing products and services better, faster and cheaper and how that leads to better profit margins for companies.
Learn more about Western Michigan University’s top supply chain program at: www.wmich.edu/supplychain
Contact: Tel.: (269) 387-5413; E-Mail: sime.curkovic@wmich.edu
Dr. Sime (Sheema) Curkovic, Ph.D. Professor
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) Vitae: wmich.edu/site...
Program Major Credit Hours (twice most others):
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
The unique curriculum of the 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, etc.).
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.
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From Professor Curkovic: Interview suggestions from former student (STAR Technique)
Interview Questions asked...
1. What do you consider to be your greatest strengths?
2. Have you ever had any failures? What did you learn from them?
3. Have you had difficulty getting along with a former professor/supervisor/coworker and how did you handle it?
4. Why should we hire you rather than another candidate?
5. What job related skills have you developed?
6. Describe your ideal job
7. Why did you choose your major?
8. Give an example of a situation where you had to provide a solution to the employer?
9. Do you prefer to work under supervision or on your own?
10. Describe a time in which you were forced to multi-task.
Make sure you get names of interviewers, years employed and connection made to assist with follow-up letter/email.
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?
Situation
Interactive Qualifying Project Team. One team member showed up late, or not at all, to team meetings.
Task
To have the team member participate in team meetings.
Action
Called other team members together to discuss situation. Suggested we
specifically state what we expected of the team member directly to him.
Another member thought if we asked the team member what day and time he
could always commit to would be better. The
team decided to do both. We met with him and told him of our
frustration and what we wanted. The team member apologized. He knew he
had been missing meetings but he was working over 30+ hours to meet his
college bills.
Results
We determine that meeting at lunch time would work for all of us. So we
scheduled our meetings for every Thursday and it worked out great. In
fact, we even invited our advisor to join us and he did regularly since
he was free at that time also.
• Tell me of a time when during updating database you observed a problem? Be sure to include how you resolved it.
• Tell me of a time when tracking inventory you realized there wasn’t sufficient material for production?
• Tell me of a time when you were overwhelmed with your tasks and how you solved them?
Questions to Ask the Employer
1. What kinds of assignments might I expect during the internship portion of the job?
2. Why have you stayed with the company for 20 years
3. Describe your career path
4. What characteristics do the achievers in this company seem to share?
5. What is the next course of action?
6. When should I expect to hear from you?
Things to research
1. Mission Statement/Vision
2. Core values
3. History; like when business began
4. Industry
5. Current events
Interview do’s
• Write names down on portfolio
• Ask for business card
• Write down every question they ask
• Find out years worked
• If connection, like kids, sports anything talked about during interview to aid with thank you letter
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).
Undergraduate Program Salary & Placement Trends
Salary:
*The average starting salary for undergraduates is $58,569, up from $56,973 in 2018
*Top 10 undergraduate programs:$63,067, up from $61,654 in 2018
Placement:
*92% of graduates are placed within three months of graduation
*74% are placed at or before graduation
From Professor Curkovic: Most of our supply chain students also minor in business analytics (BA minor). The BA minor develops the following skill sets: big data/analytics, database management, data mining, project management, SQL,Python, PMO, Tableau, Power BI, etc.
The BA minor now requires a Python class.
Here is my thought on the BA minor and how to sell CIS 2650 (the Python class) to employers...
First
of all, CIS 2650 is not just a "Python" class, but instead a Python
class for analytics (big difference). In a traditional Python class,
people teach Python straight for the whole semester
with tons of syntax, data structure, software development, etc. That
type of class is mostly designed for CIS and CS majors. 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). Can you imagine what an employer will think if they see Python in
Jupyter on your resume? The reason for this design is the following:
We studied the top skills in analytics jobs and Python was among the top skills.
The
visualization libraries in Python can produce the kind of
visualizations not available in Tableau and Power BI. Students will be
able to differentiate themselves from other schools. This
will be huge in the next Gartner Top 20 Undergrad SCM program
rankings. We are ahead of the curve, but only slightly (Penn State is
right there with us on this stuff).
Tableau
and Power BI recently added Python or Python+Jupyter because certain
Python analytics and 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 and two in analytics, but Python is easier to learn compared to R.
Past
experience in the ISM program (3+ semesters of experience in CIS 2650)
shows that non-technical students (ISM, 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.
Meeting
the needs of today's employers is important, but offering a program
that does that plus something that can differentiate our students from
other schools sounds even better. Compared
to the analytics programs from the schools that we benchmarked, our
students can do so much more.
By the way, CIS 2650 has been in the minor for several semesters now.
Sime is so knowledgable. He understands Supply Chain because that is the career path he has dove deep into. He has real life experience that qualifies him to speak on all these topics. I respect him because he has that real life experience. I truly love being a part of the WMU Supply Chain program. He really prepares you for several internship opportunities and an excellent job opportunities.
One of my professors at the University of Toledo’s famous quote is “Sales and Marketing people make promises to the customer. Supply Chain people execute those promises.”
Hi Austin: See below if you find this helpful (some of the material on the website is free).
simecurkovic.com
I hope all is well. FYI, I just created a website with a subscription service ($25/year). It gives you access to hundreds of my blogs, job postings, hours of lecture videos, and class/research material. Also, there is a Q & A and contact section. You can contact me for any purpose any time and I will get back to you quickly. You are under no obligation to join, but I think the investment would pay for itself. Also, even if you do not join, you can of course still reach out any time. I would be grateful if you considered joining.
My goal is to create an endowed scholarship fund for future supply chain students so I can retire on a very high note. Free sample view of one blog (see Elon’s resume and get resume ideas):
www.simecurkovic.com/2021/04/30/does-your-resume-make-it-obvious-that-you-know-how-to-solve-problems/
Please join at:
www.simecurkovic.com/membership/
Great to see someone so passionate about SCM, very inspiring! Can't wait to finish my MBA in SCM and start working after seeing your videos. Cheers from Montréal!
Good luck with that sir.
Are you done with schooling
Cheers from Montreal as well
Update as of January 2019: Students are still getting 3-5 job offers
upon graduation. The average starting salary is in the low $60s, with
the top students getting offers of over $70K. Most graduates are well
over $100K by age 30. Also, CEO backgrounds are trending on SCM work
experience.
Thanks Sime, For what it's worth, I can see and really appreciate your passion about SCM. It is definitely rubbing off on me after watching this 3 part video series.
Sime, I cannot express enough how these three videos have changed my career path. I applied to my college as a marketing major but noticed that everyone and their mother is getting or has a marketing degree. Supply chain was another option for me and you inspired me with your passion and sold me on it. I'm a freshman in college and working to get my MBA along with supply chain. Thank you for your enthusiasm and wealth of knowledge and passion for seeing students grow. How do you feel about MBA's in sustainability on top of a supply chain degree? Thank you.
@@CommandantSpangler I sincerely apologize for the delayed response, see:
th-cam.com/video/wS5jCZrK-eE/w-d-xo.html
In general, the trend line for sustainability is very positive and SCM will have the greatest impact on it.
You are a wealth of knowledge. I am not in school but have worked in Manufacturing and Distribution companies for most of my working life (20+yrs). This is the best explanation I’ve ever heard - it’s clear and concise. I wish I had come across this sooner - thank you.
I love this so much. I'm going to major in SCM at the University of Oklahoma starting Fall 2017
Good luck!
How'd that go so far?
@@AlexAlex-sz2pc It was good. I graduated in May 2019.
@@jerronbisbee1266 good for you
@@jerronbisbee1266 What is the job market looking like? I want to pursue a diploma in supply chain.
From Professor Curkovic: Do you know what this means? 2/10 net 30 (now employers want you to be Finaciers!!??)
The good news is that they will pay more for more strategic skills...
A Purchase Order is a contract between a buyer and supplier. Over half of our students get their first full-time jobs in procurement/purchasing/sourcing in a buyer type of role. One of those job responsibilities will be to negotiate payment terms upon which you pay a supplier. When you pay for a product or service in your own personal life, you typically pay for it upon receipt or delivery of the good/service. However, in business-to-business transactions, the supplier usually does not get paid right away. Usually, the buyer will receive the goods/parts/material first, and then the buyer will pay for it later, sometimes very later. Buying organizations are often cash strapped, or simply put, they are cheap and greedy. Buyers will try to negotiate not paying for something as long as 30, 60, 90, 120 days after they actually get the stuff. Suppliers are not thrilled with this, but if you trust the buyer and know that you will eventually get paid, why not? Usually, large buying organizations have this kind of leverage over smaller suppliers. So, what is the current standard protocol for payment terms with buyers and suppliers? See below.
• 2/10 net 30
- 2% discount if paid within 10 days, full payment required within 30 days
So, if you buy $100 worth of parts from a supplier, you have to pay them at the latest, $100 30 days after you get the parts. However, if you pay them within ten days of getting the parts, you only pay $98. Here is the thinking part of this reading assignment. I think there are a lot of VP’s of SCM and VP’s of Finance that are not talking to each other very much. My impression is that most companies are obsessed with negotiating payment terms with net 30, 60, 90, and 120 days. This makes sense to me if a company is cash strapped, but I do not think most are. It also makes sense if you are broke and would have to borrow from a bank to pay the supplier (and if the cost of borrowing is really high). So, wait as long as possible to pay the supplier with our own cash (and hopefully you can make enough money in 30-120 days to pay your suppliers). If you cannot, then you have major cash flow issues and your margins are probably too tight to keep you in business. In which case, the bank might not even loan you any money.
I think most companies have some cash on the sidelines (The Great Recession of 2008) and why would you sit on that cash for 30, 60, 90, and 120 days? Why not pay your suppliers early and make cash (in the form of discounts - a dollar saved is the same as adding one dollar of pre-tax profit to your company’s bottom line). You might argue that keeping the money in the bank and collecting interest on it makes you more than the price discount that the supplier is willing to give you for early payment. However, here is my point - have you seen how low interest rates are and how low the cost of borrowing is in America? They are at record lows! You can borrow money to buy a house and only pay 2-3% in interest today. So, what is the strategic SCM opportunity here? How about this:
• 4/10 net 30
- 4% discount if paid within 10 days, payment required within 30 days
Let’s say you could actually negotiate these payment terms with a supplier, which I think they would go for if they could get their money sooner, especially if you are a buyer that does not pay them until 30, 60, 90, or 120 days out. As a buyer, even if you did not have the cash to pay them within 10 days, couldn’t you even borrow money from a bank to pay early? You still come out ahead because your cost of borrowing from the bank (1-3%) is less than the discount given to you by the supplier (4%). I also bet you there a lot of banks out there that would do all of this for you (all you have to do is sit back and enjoy the cost savings, and look like a superstar to your boss).
SCM is a very cross-functional discipline. Effective SCM requires working with your suppliers, their suppliers, your customers, their customers, and internally with engineering, sales/marketing, and even finance. For the first time in American history, interest rates and the cost of borrowing is at record lows, combined with money actually out there in the system to be borrowed. I personally feel corporate America (on the procurement side) is leaving money on the table with its antiquated payment terms with suppliers. I hope this makes sense to you. Please let me know if not. Thank you. Sime
This was so helpful! I've always wanted to get into the world of Supply Chain Management and this outlines the objective and purpose of effective supply chains, thank you for sharing.
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
#dataanalytics #supplychain #artificialintelligence #ai
JOB SECURITY: U.S. News & World Report recently predicted that supply chain jobs would expand by 25 percent within the next decade and identified supply chain as one of the “20 Best Business Jobs.” Supply chain management is also included in lists that rank top career fields for women during the next decade.
Thank you so much for this informational video. I am in my third year of majoring SCM and this video made me understand more than I have in the last three years. I really appreciate it and I am so excited to prepare and enter the workforce.
Just switched my major from Business Management to Supply Chain Management! I'm keeping my minor in Human Resource Management. I was once the fence about Supply Chain but you convinced me to go for it!
Great stuff! I cannot imagine you will regret this. Make sure you also develop your Business Analytics skills (e.g., big data/analytics, database management, data mining, project management, SQL, Python, PMO, Tableau, Power BI). Be well and reach out any time.
@@simecurkovic Do I really need to know how to code in python? I find code to be boring.
thank you this video, it really helped cement my decision in continuing studying supply chain management
Hi Reabetswe: See below if you find this helpful (some of the material on the website is free).
simecurkovic.com
I hope all is well. FYI, I just created a website with a subscription service ($25/year). It gives you access to hundreds of my blogs, job postings, hours of lecture videos, and class/research material. Also, there is a Q & A and contact section. You can contact me for any purpose any time and I will get back to you quickly. You are under no obligation to join, but I think the investment would pay for itself. Also, even if you do not join, you can of course still reach out any time. I would be grateful if you considered joining.
My goal is to create an endowed scholarship fund for future supply chain students so I can retire on a very high note. Free sample view of one blog (see Elon’s resume and get resume ideas):
www.simecurkovic.com/2021/04/30/does-your-resume-make-it-obvious-that-you-know-how-to-solve-problems/
Please join at:
www.simecurkovic.com/membership/
So while other companies are putting all their time and resources into cutting costs, I can spend my time and energy on marketing to increase sales and steal market share away from them, and THEN cut my own costs. By the time they come out from their cheapest toilet paper selection meeting ready to pick up sales, I've already taken all their customers.
My students are asking for a summer reading list (I just wish they would also read the syllabus…because my reading list is in there!). 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 supply chain maturity, & what metrics matter most.
Previous video shows 7 business books recommended by Stanford professors: lnkd.in/g5EGVe_X.
Other reads that I think would be good 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 2:
Supply Chain Excellence by Peter Bolstorff and Robert Rosenbaum
The Lean Extended Enterprise by Terence Burton & Steven Boeder
Recommended by myself:
The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt.
Another would be Car Guys vs. Bean Counters: The Battle for the Soul of American Business by Bob Lutz.
Stuff we suggest students read:
- 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
More thoughts on SCM Finance:
lnkd.in/gv7jfcRX
#supplychain #readinglist
Our data mining class (CIS 4640) is essentially a machine learning class for business, which is the core of Artificial Intelligence (agreed?). Our SCM students also told us many times that their hiring managers valued mostly the traditional Excel capabilities (lookup functions, pivot tables, etc.), & they greatly overlooked the opportunities from other analytical solutions (that our students have!). Again, for example, our data mining class is an ML class, the core of AI. FYI, starting Fall 2023, we will have numerous SCM majors minoring in the Consumer Packaged Goods industry.
www.linkedin.com/posts/sime-curkovic-61617a115_autonomous-supply-chain-planning-for-consumer-activity-7000827976892248064-yMfv?
Deep learning pioneer Andrew Ng says companies should get ‘data-centric’ to achieve A.I. success:
lnkd.in/gdiQ-GTW
Great reads from Fortune & Accenture. Very important takeaways:
A.I. adoption from Accenture...lnkd.in/gx996a8n
*Only 12% of 1,200 orgs it looked at globally have advanced their A.I. maturity to the stage where they are seeing superior growth & business transformation.
*Another 25% are somewhat advanced in their deployment of A.I., while the rest are still just running pilot projects if anything. What sets that 12% apart?...
1) they have “industrialized” A.I. tools & processes, and that they have created a strong A.I. core team.
2) Other key factors are organizational too: they have top executives who champion A.I. as a strategic priority; they invest heavily in A.I. talent; they design A.I. responsibly from the start; & they prioritize both long- & short-term A.I. projects.
From Sime: One thing the article did not mention is the attitude of the hiring managers. In talking with a colleague, we both agreed that many hiring managers do not have a full appreciation or understanding of the AI skill sets associated with our graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities/skill sets (lookup functions, pivot tables, etc.), & they greatly overlooked the opportunities from other analytical solutions. This makes it a bit difficult to sell the analytical techniques taught in classes that go beyond our CIS 2640 - Applied Analytics Foundations course.
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 more students will see the benefits (along with the hiring managers, i.e., SCM Leadership!).
Top 12 Skills You Need To Become a Data Scientist. lnkd.in/gwrjksAa. There are ONLY 500,000 unfilled SCM Data Science jobs on LI. Note, “data scientist” is one of the fastest growing career paths w/ escalating salaries & SCM needs more. The majority of the data in the world was created in the last 2 years! lnkd.in/gGk58g8V. AI can help manage the supply chain. So what’s the delay?
lnkd.in/gD3rA8JB
#supplychain #ai #artificialintelligence #dataanalytics
Professor, you are very charismatic!
See below if you find this helpful (some of the material on the website is free).
simecurkovic.com
I hope all is well. FYI, I just created a website with a subscription service ($25/year). It gives you access to hundreds of my blogs, job postings, hours of lecture videos, and class/research material. Also, there is a Q & A and contact section. You can contact me for any purpose any time and I will get back to you quickly. You are under no obligation to join, but I think the investment would pay for itself. Also, even if you do not join, you can of course still reach out any time. I would be grateful if you considered joining.
My goal is to create an endowed scholarship fund for future supply chain students so I can retire on a very high note. Free sample view of one blog (see Elon’s resume and get resume ideas):
www.simecurkovic.com/2021/04/30/does-your-resume-make-it-obvious-that-you-know-how-to-solve-problems/
Please join at:
www.simecurkovic.com/membership/
This dude is smart as shit
I love working in SCM.
Mechul Yeldell is it a hard job to learn ?
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
How many of you get a feel that he looks like Matthew Mcconaughey? Hit a like if you agree.... Fabulous teaching btw👏👏👏
This guy is good! Love it!
Bravo Šime! Odlican video!
Hvala puno!
For more information:
www.simecurkovic.com/2022/02/10/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/
www.simecurkovic.com/2022/02/10/11-trendy-things-we-are-doing-in-the-wmu-ism-supply-chain-program/
www.simecurkovic.com/2022/01/14/even-though-supply-chain-makes-lake-superior-state-universitys-list-of-banned-terms-for-2022-the-placement-success-starting-salaries-for-wmu-ism-is-off-the-charts/
www.simecurkovic.com/2021/04/30/notice-what-happens-to-salaries-as-you-get-certified-and-get-a-graduate-degree/
From Professor Curkovic: SCM Factoids
Let's say you have a supplier and you are starting to get the vibe that
you are overpaying. What can you do? You could ask them for a cost
break down. However, if a CURRENT supplier does not want to break out
costs for you (the buyer), then the contract
should allow for competition once a reasonable period of time has
elapsed for the supplier to recover their fixed costs. Most
Buyer-Supplier contracts actually let a buyer cancel a contract for
almost any competitive reason (i.e., they think they are overpaying).
SCM Factoids:
A cost breakdown should be requested with each RFQ (request for quote).
RFQ is a fancy way of saying: I am a buyer and I am requesting that you
(the supplier) bid (quote) for this business. RFQ can either stand for
Request for Quote (quote me the buyer on
this business - tell me how much it would cost me) or it can stand for
Request for Quotation (I want a quotation/bid from you the supplier on
this potential business with me the buyer). Get it? This should be
requested using the following statement:
“The buyer will only consider quotations accompanied by a cost breakdown”.
Suppliers may not want to furnish this information, however, it can be
required by the RFQ (the supplier has to make a choice). If the quote
is for a commodity and there are tons of suppliers to choose from, then
the supplier is probably going to give a cost
breakdown. However, why would a supplier do this if it is a highly
engineered part and the buyer has few suppliers to choose from. In this
case, the supplier could professionally give the buyer the middle
finger and say here is my price and that is all that
I am telling you.
Warning:
Merely reducing the supply base to reduce the supply base does not make
sense. Management goals, like “reduce the number of suppliers by 30%
this year” usually have the wrong effect (and lots of companies do
this). Each acquisition should be evaluated separately.
If welding wire is available from three suppliers and no price breaks
can be gained by buying all welding wire from one source, then
maintaining three suppliers gives the firm more assurance of continuous
supply while the cost of buying from three suppliers
is not significant greater. Does this make sense to you?
Academic researchers (educated idiots like me) say:
One approach is to award 70/30 split contracts. The supplier with 70% of
the business can provide needed services, while the supplier with 30%
of the business provides safety of supply and also puts pressure on the
large supplier.
Reality: Single sourcing. Most companies are using single sources of
supply to get bigger price discounts via higher volumes (economies of
scale). Also - Some firms like to become a big portion of their
suppliers' business so that they can apply pressure on
the supplier. American companies are infamous for this. Why? Because
they are greedy. Thank goodness for that because they are paying top
dollar for ISM graduate
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
"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)
Most employers will not even look at your resume if it looks like a lazy effort. Aesthetics matter! Here is some resume advice from MIT (25 pages): lnkd.in/g3xqeDyc, also from WMU (112 pages): lnkd.in/gipsXEsK.
Reminder: Yes, it is now time to start applying & interviewing for summer internships. Large high profile F500 types get budgets for internships approved months ahead of time & they recruit nationally for the best talent. They often want to get this wrapped up, & you have to start looking now. Do not wait until Spring 2023 to find a Summer 2023 internship.
There are already > 15,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE & lnkd.in/gt98WuvK & > 35,000 business related internships.
lnkd.in/grDAW8iX
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).
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
Resume Keywords Ideas/Action Verbs for your resume
lnkd.in/ea6gV-K
How to Effectively join LinkedIn
lnkd.in/gbGJcJCP
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
I have way too many students failing their first interviews because they were not ready for STAR. Practice, practice, practice.
lnkd.in/eZgTxWc
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Thank you: Career Development Office, MIT Sloan School of Management
www.linkedin.com/posts/sime-curkovic-61617a115_employers-will-not-look-at-sloppy-resumes-activity-7010958669328646144-w7ht?
#internships #careeradvice #interviewing #supplychain
My colleagues helped me put this list together for my non-supply chain majors. Data shows that people earn more & have more job security if they become engaged members of their professional discipline. One way to do that is to join industry specific associations related to your majors. Further, these associations often have certifications with them that externally validate you as a subject matter expert.
__
Industry Certifications & Associations for Various Business Majors (for exhaustive list - lnkd.in/gVbQV2q7):
CIS and Business Analytics
There are plenty. Here is a list of a few:
1. Google’s certifications on analytics, big data, cloud, data science, machine learning, etc.
2. Amazon’s certifications on cloud, big data, data science, machine learning, etc.
3. Microsoft certifications on Excel, PowerBI, Azure, cloud, Data science, machine learning, database, etc.
4. Project Management Professionals. Certifications include PMP, CAPM, etc.
5. International Institute of Business Analysis (IIBA)
6. Other vendor specific certifications, such as big data databases (e.g., MongoDB, Casandra, etc.), relational database, etc.
7. Many industry conferences. See lnkd.in/gNtA9J5b for a small list. Amazon’s re:Invent conference and AWS Summit are good ones too. There are other big ones by SalesForce, IBM, Oracle and other big name technology companies.
__
Marketing
For marketing, there are several certifications offered through the American Marketing Association:
lnkd.in/gwG9z9Zm. And, I think there are various marketing research associations that offer continuing education and certifications for those wanting to get into that specific area of marketing (like a CRA lnkd.in/gYdMkDSB).
For Ad + Promo, unless you get heavy into digital, there isn't anything really, except maybe a project management certification? There are all sorts of digital marketing related certificates, see the comments section, but HubSpot offers all sorts of certifications (lnkd.in/giaRnqTX), as do many of the individual social media platforms or CRM software (like Facebook or Salesforce). Google Analytics has always been popular one to suggest that students can do anytime, but they are changing their measurement solutions next year. lnkd.in/gXNvQkaC.
Coursera offers all sorts of classes that anyone can pick up to enhance or fill gaps. Nothing beats experience though. Participating in relevant internships, external case competitions, and other experiential learning opportunities are usually enough to validate themselves.
__
See comments for more majors or:
lnkd.in/gVbQV2q7
www.linkedin.com/posts/sime-curkovic-61617a115_do-certificate-programs-pay-off-activity-6985915795742605312-TTgA?
#education #college #career #careeradvice #certification
Handout can be found at: wmich.edu/supplychain/handout
Salary Data $$$. A very good read from Zetwerk: lnkd.in/eHWZ7DGf. Also, a nice summary from SCM Review: lnkd.in/e_y2Yn5P. “Purchasing managers had the highest median salary of the jobs studied, at a $131,350 average. The overall median salary was $90,812. Logisticians have a 10-year projected growth rate of 18%.”
More procurement salary data from CIPS: lnkd.in/evxDb7Kw.
Great time to be a supply chain student: “…growth in procurement salaries overall in North America is 5% & the avg salary for all N.A. supply chain pros was $105,418. Some highlights include the avg pay reported for Advanced Professionals ($126k) for roles such as a Procurement Director. For Professionals ($113k) for roles such as a Procurement Manager and for Operational level ($68k) for roles such as a Procurement Specialist.” See:
lnkd.in/gKAZr__H.
Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu.
12 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.
From Forbes: Do Certificate Programs Pay Off? lnkd.in/gAwfjk7y. Top SCM certifications: lnkd.in/gA38N97C. Free certificate programs for anyone who has access to LinkedIn Learning (thank you Mr. Dan Stanton): lnkd.in/g65jdTGP.
For more SCM salary data, see: lnkd.in/gp6iMKT9 & lnkd.in/d7WSAWC3.
Another great read: 32nd Annual Study of Logistics & Transportation Trends: Navigating a Shallow Pool of Resources…”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.” lnkd.in/grmvY8PM.
Logistics salary data: lnkd.in/gC63-My4.
What’s The Difference Between Logistics And Supply Chain Management? (And Why It Matters): lnkd.in/gAQZr_mC.
From Professor Curkovic on government jobs: Pasted below is feedback from a Bronco ISMer who works at TACOM.
www.usajobs.gov/GetJob/ViewDetails/535915100
These
jobs do require U.S. citizenship and this is a unionized workforce.
Yes, unions only make up around 10-13% of America's workforce and most
of them are actually government employees.
Students:
Pasted
below is feedback from a Bronco ISMer who works at TACOM (who has
several job openings in Warren, MI). This sounds like a very good
career path and could be a great match for
several of you. Notice his comment on TACOM having very little
turnover. That speaks volumes. Thank you. Sime
******************
I think to sum things up; there are very few supply chain management
employees that leave TACOM once they are hired the turnover rate is
extremely low. Most people are very happy to be here!
-Excellent Work/Life Balance
-Benefits
-Defined Career Path Fast Tracks Employees to Competitive Salary
-Holiday's & Leave Schedule work out to great to support that work life balance.
-Excellent atmosphere a team working together to deliver Soldiers parts. High level of integrity and behavior required.
-Plenty of opportunity to change jobs or roles. Most people start in forecasting and planning in SAP.
-Flexible Schedules/Work from home (Telework)
-Patriotic Mission
The few people that leave I find are due to our location and the weather
here. Detroit was always drag but in recent years has really come a
long way. You are never going to make millions here, but the pay scale
is very competitive.
This is a great place to work if you are good with Michigan and Metro Detroit!
Chief, Carrier Group M113, AMPV & OSV
Combat Maneuver & Recovery PSID
TACOM LCMC
6501 E. 11 Mile Road,
Warren, MI 48397-5000
www.usajobs.gov/GetJob/ViewDetails/535915100
Note, you would be
a part of this very large union:
www.afge.org/
AFGE | Home Page
The American Federation of Government Employees (AFGE) is the largest
federal employee union representing 700,000 federal and D.C. government
workers nationwide and overseas.
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.
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
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/gQnHZd9Y.
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.”
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.
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. More from Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE & lnkd.in/gC44Baeb
MIT Resume Guide: lnkd.in/g3xqeDyc.
Western Michigan University: lnkd.in/gipsXEsK.
UNC Pembroke: lnkd.in/gJA3uub2.
Kansas State: lnkd.in/gPNgpmKA.
The Biggest Mistakes People Make With Their LinkedIn Profile And How To Avoid Them: lnkd.in/gSNctThb
Thousands of SCM internships currently posted - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb.
Goals of an internship (it’s not job shadowing):
lnkd.in/gGRU_4Rz
Being job ready in the covid market & beyond. lnkd.in/eZGZbkP.
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
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
For details on how to build your brand: lnkd.in/dSAA6wF
www.linkedin.com/feed/update/urn:li:activity:6941349368335654912?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A6941349368335654912%29
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
More Supply Chain Salary Data $$$. Warning, it is good news, seller’s market.
Quickest way to six figures (SCM?!). lnkd.in/eQvfFMc
Here is a long list of salary sources (see comments section also for more data):
lnkd.in/eQvfFMc
Employment of SCM analysts is projected to grow 14% from 2020 to 2028, much faster than the average for all occupations. The average growth rate for all occupations is 5%. 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.
lnkd.in/e-jqMJB
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-January & mid-February 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 average 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, and of those, the average increase was 5.5%.
The numbers look somewhat different when viewed from median levels (half above, half below) versus average compensation.
The median compensation in 2019 increased 3.6% to $106,000 - quite a bit lower than the average of $123,000 - but it was up from $102,352 in 2018.
At the high end, the average compensation of the top 10% of procurement pros was $286,211, up 2.5% from $279,139 in 2018.
Also increasing was the average base salary of the top 5% of earners in 2019: $344,909, up 1.2% from $340,956 in 2018.
Additional key findings include:
• Demographic gaps persist: In 2019, the gap in average compensation between male ($131,153) and female ($106,935) supply management professionals was 22.6%. For respondents who disclosed race, those identifying as Caucasian reported an average compensation of $127,169, compared with $111,311 for Black respondents and $99,807 for Asians.
• Healthy bonuses: 66% of respondents received a bonus in 2019, with an average bonus of $25,179, or 20.4% of average base salary (up from 18.2% in 2018).
• Industry earning power: Supply management practitioners in mining saw the highest average salaries - more than $177,000 - followed by arts, entertainment and recreation (about $155,000) and petroleum and coal products (about $150,000).
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Female SCM students & professionals:
lnkd.in/eDwUBY5T
Even though ‘Supply chain’ makes Lake Superior State University’s list of banned terms for 2022 - lnkd.in/eeeNxAHz,
the placement success & starting salaries for WMU ISM is 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 $$$$.
There are > 20,000 jobs on LinkedIn not filled which have the words "entry-level supply chain" in the job title.
"Supply Chain" + "Data Analytics" = jobs and $$$$. There are > 35,000 jobs on LinkedIn not filled which have these words in the job title and/or job description - “supply chain” & “analyst” & “data analytics”. There are >10M jobs not filled in the U.S., many of which are in SCM. In fact, if you loosely define SCM, around half these jobs are in SCM.
Sarcasm: "Only" 113,000 unfilled jobs in Indirect Procurement on LinkedIn, & > 4,000 MRO Buyer jobs not filled.
Supply Chain Data Scientist (>171,000 jobs on LinkedIn - that's all).
Supply Chain Finance (>25,000 jobs on LinkedIn - that's all).
An undergraduate degree creates many benefits beyond employment, but it never hurts to get a bit of educational ROI either!
_
Quickest way to six figures? Answer: SCM
JOB SECURITY? U.S. News & World Report recently predicted that logistics & SCM jobs would expand by 25 percent within the next decade and identified SCM as one of the “20 Best Business Jobs.” Logistics and supply chain management are also included in lists that rank top career fields for women during the next decade.
"...it’s clear that supply chain professionals are poised to become the most powerful executives in the world..."
Tomorrow’s CEOs Will Come from an Unlikely Place: The Supply Chain. lnkd.in/eGb9u-3
Common Theme from Graduates: It's a great career path because SCM jobs are everywhere. Additionally, supply chain jobs usually pay super well and there is a great room for career growth. The career path also offers excellent work satisfaction, & it's hard to get bored.
Everything has a supply chain and everything comes from a supply chain.
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SCM Salary Data $$: 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:
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.
lnkd.in/ekhu3YHA - Yes, WMU has one of the best business colleges in the world.
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
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/gsKyJ9rn. WMU supply chain grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX.
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review.
lnkd.in/gbV_aMT7
> 5,000 open summer internships in MI, postings - lnkd.in/gVsHEZxz & > 20,000+ nationally - lnkd.in/gRKmr7QE. What are they looking for? SCM majors. Perhaps delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb
Per Fortune, “Over their lifetime, an MBA graduate can expect to earn $3 million more than someone with only a bachelor’s degree, according to GMAC.” When is the right time for grad school? The avg age is 33. I find the age stat to not be too meaningful. For anyone 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 >11M jobs not filled, many of which are in SCM. In fact, around 1/2 these jobs are in SCM.
"Only" 113K unfilled jobs in Indirect Procurement on LI, & > 4K MRO Buyer jbs not filled. lnkd.in/gFrGvpCA
SCM Data Scientist (>171K jobs on LI).
Our Business Data Analytics minor:
lnkd.in/gf_UWz5x
lnkd.in/gKV4dw2z
lnkd.in/gHnUrVZz
lnkd.in/g9pgFErz
SCM Finance (>25K jobs on LI).
lnkd.in/gE9gVG34
Salaries: lnkd.in/eQvfFMc
Top School: lnkd.in/dn9-BCg
Trends: lnkd.in/gDBXEi26
#supplychain #career #salary #job
From Professor Curkovic: Certifications and organizations that make sense for supply chain majors...
American Production & Inventory Control Society (APICS): WMU has one of the largest student chapters in the nation. The cost to join is free for WMU HCOB students. It looks terrible on your resume if you are an ISM student and you are not a member of APICS. You do not have to be an ISM student to join. It does require participation during the school year by attending meetings. These meetings usually feature a guest speaker from industry and also includes company tours. Note, APICS changed its name:
www.apics.org/about/overview/apics-news-detail/2018/09/30/announcing-the-association-for-supply-chain-management
ANNOUNCING THE ASSOCIATION FOR SUPPLY CHAIN MANAGEMENT | APICS News
www.apics.org
ASCM is the new, all-encompassing supply chain organization built on the foundation of APICS. CHICAGO, IL - Sept. 30, 2018 - Today marks the introductory launch of the Association for Supply Chain Management (ASCM), the new global leader in supply chain organizational transformation, innovation and leadership.ASCM is an all-encompassing supply chain organization that will propel the supply ...
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National Association of Purchasing Management (NAPM.org): They have changed the name to Institute of Supply Management (www.ISM.ws). Student membership is free and it does not require any active participation. They send you material each month (e.g., magazines) that describes the latest developments in the field. ISM has a website which allows you to search for jobs and also download your resume for prospective employers.
Institute for Supply Management | Established in 1915
www.ism.ws
Institute for Supply Management (ISM) is the first and largest not-for-profit professional supply management organization worldwide. Founded in 1915, ISM has over 50,000 members located in 100 countries.
Free membership in an organization related to your major...Institute of Supply Management. Actually, I think they now charge students $30.
www.ism.ws/membership/content.cfm?ItemNumber=4741&navItemNumber=5571
Institute for Supply Management | Established in 1915
www.ism.ws
Institute for Supply Management (ISM) is the first and largest not-for-profit professional supply management organization worldwide. Founded in 1915, ISM has over 50,000 members located in 100 countries.
The website above allows you to download the application to join the Institute of Supply Management. Joining ISM is FREE for full-time college students. You just need to attach a class schedule with your application proving you are a full-time college student. Also, please indicate you want to join the Southwestern Michigan ISM affiliate. Just write it down someplace on the application. Joining allows you to attend local chapter meetings.
It will look great on your resume and is an amazing developmental/networking opportunity. This organization is directly related to your field of study. Send the message to employers that you will be an engaged member of such organizations if they hire you. You will also have access to their website which has job postings and lots of research studies that will help with your classes. Also, they will mail you monthly and quarterly magazines that tell you what is currently happening in your field (all for free as a student).
Joining ISM is a class requirement since it is free. Once you have joined and logged in (you will get a username and password once accepted), please send me a screenshot while you are logged in and I will then check you off for full credit.
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Council of Logistics Management - recently changed its name to the Council of Supply Chain Management Professionals (www.cscmp.org): This one is no longer expensive for students ($40). You do not have to be a member to access their website. They also have a job search engine which does not require a password or membership. CSCMP also has local chapter meetings in Grand Rapids and you do not have to be a member to attend.
Subject: FYI: Student membership CSCMP $40
From: "Jill Carrillo"
Hi Sime,
Are your students members of CSCMP? We do offer a student membership for just $40.00. It's a great way for students to get an early start on their supply chain career. As a student member, they will have access to numerous global programs and resources designed specifically to students as well as have endless possibilities to network with industry professionals. I've attached a PDF file of the student membership application and am more than happy to answer any additional questions you may have regarding membership and/or process the memberships for you.
With a CSCMP membership, you will have access to all of our membership exclusive benefits such as publications (State of Logistics Report, Case Studies, Explores, Global Perspectives, JBL, Supply Chain Quarterly), access to our online member directory, professional education, networking opportunities, research and more. You can view a list of the member benefits on our website at
cscmp.org/membership/member-benefits
I've also attached a membership application for you. Please let me know what I can do to help you become a member today.
If you have any additional questions or if I can be of further assistance, please don't hesitate to contact me. Thank you,
Jill Carrillo, Staff Accountant
Council of Supply Chain Management Professionals (CSCMP)
333 East Butterfield Rd, Suite 140, Lombard, IL 60148-5617 USA
Direct: + 1 630.645.3491, Main: + 1 630.574.0985, Fax: + 1 630.574.0989
cscmp.org
American Society for Quality (www.ASQ.org); $25 for students and you can apply on-line (www.ASQ.org)
ISM Students:
The American Society of Transportation and Logistics is yet another industry association related to what you are majoring in. I would encourage you to join this one if you go into the logistics field. You can actually get partial credit for some of their certifications based on your previous course work in the ISM program. I just wanted you to be aware of that this existed moving forward. Note, they merged with APICS (which changed its name to ASCM). Ughhhhhh. Who can keep track of this stuff?
www.apics.org/apics-for-business/group-training-and-certification/cltd-group-training
CLTD Group Training | Corporate Supply Chain Training | APICS
www.apics.org
Develop a Team of Recognized Experts in Logistics, Transportation and Distribution. The Certified in Logistics, Transportation and Distribution (CLTD) designation is the newest APICS certification that provides specialized knowledge and expertise in logistics, transportation and distribution.
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TYPES OF CERTIFICATION
C.P.S.M. (Certified Professional in Supply Management - ISM, ISM.ws); ISM is free to join for students (used to be free)
C.S.C.P.. (Certified Supply Chain Professional - APICS, apics.org); APICS is free to join for WMU ISM students
C.P.I.M. (Certified in Production & Inventory Management - APICS, apics.org)
CQMgr (Quality Management - ASQ)
M.B.A. (Master’s of Business Administration)
Note: APICS and ISM have created new SCM certifications (CSCP for APICS and CPSM for ISM). These would be the big ones to get in your career. Note, APICS is now called the Association for Supply Chain Management.
Also, here is an example of a company formally endorsing a certification (this is from several years ago but makes a great point, this is very important stuff for some companies). Johnson Controls Inc. (JCI) is headquartered in Milwaukee and has $35 billion in annual sales revenue with around 40,000 employees. JCI has 160 SCM employees in North America. There is a development goal within the company’s purchasing organization to have 100% of the purchasing team pass all three modules of the ISM CPM certification. To date about 50 team members are certified, with 80 awaiting results.
Note: Major new change to APICS CPIM certification (you can start this one while still in school)…it is the only cert I would recommend getting started on while still in school.
Good Afternoon Sime,
The CPIM certification program is in a transition from a 5 module certification process to a 2 part process. The first part be will be very similar to our current module 1 but will have more questions on the exam and be significantly more expensive. The remaining 4 modules will be combined with the overlap between them removed. The cost for this second part will be more than each of the individual modules today, but less than the combined 4 modules. If a person passes Module 1 under the current program it meets the requirements for part 1 under the new process.
We are planning for our 2017-2018 program season now, so classes aren’t finalized. I suspect we will offer a Module 1 class this fall to allow persons to take Module 1 and pass the exam under the current less expensive option. Part 2 would likely be offered early in 2018 and passing that exam along with Module 1 would meet the certification requirements.
We will publish the information on our website apicsswmi.com/index.php as it is finalized, but would be happy to e-mail the individuals you referenced with details if you can provide contact info.
Thank you for your continued support, we appreciate it.
Dave
David L. Rench Jr.
President
SW Michigan Chapter- APICS
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.
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.
If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well (i.e., operations & logistics): lnkd.in/g_G-xwFv. 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). Note, there are not enough young people working in supply chain - lnkd.in/gtUcJpX7.
Fastest growing occupations (see Data Scientist at #3): 20 occupations with the highest projected percent change of employment between 2022-32. lnkd.in/gBdJpVMS.
For students going into SCM, the prospects are great, but do not be a victim of technology!
Top 12 Skills You Need To Become a Data Scientist (many business grads should have these skills). lnkd.in/gwrjksAa.
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).
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 10-15 years are generating tremendous amounts of data, & companies will spend at least the next 10 years developing processes that generate insight from those data (visualization is huge, think Tableau and Power BI).
In addition to data generated internally, many companies are exploring the effects of external data, primarily present in social media, web search, manufacturing, & the 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.
This has become a bare minimum:
CIS 2640 (Our Predictive Data Analytics class, Excel on steroids): I get this kind of feedback all the time…lnkd.in/dQABdsXc - You will be glad to hear that (Anaconda + Jupyter Notebook + Python + visualization libraries) is what we have been teaching in CIS 2650 since the course was created. lnkd.in/er3xiWj & lnkd.in/dcEJuZJX.
From Forbes: Do Certificate Programs Pay Off? lnkd.in/gAwfjk7y. Top SCM certifications: lnkd.in/gA38N97C. Free certificate programs for anyone who has access to LinkedIn Learning (thank you Mr. Dan Stanton):
lnkd.in/g65jdTGP.
The WMU Supply Chain Graduate Certificate program is now up and accepting students. Information can be found here: lnkd.in/gcu8E2UN.
When viewing this link…Note, that this program has a live "Apply Now" link. The 15-credit hour Supply Chain Graduate Certificate can be earned on its own as a non-degree certificate, or in conjunction with an MBA from the Haworth College of Business, with the certificate credits counting toward an MBA degree.
Is a graduate certificate in supply chain management right for me? WMU Graduate Certificate Program in Supply Chain Management, details: lnkd.in/gY_ijCMJ.
Reminder: CPIM is now 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. More ideas: lnkd.in/gxTdm8Mu.
Industry Certifications & Associations for Various Business Majors (for exhaustive list): lnkd.in/gVbQV2q7.
Free: All Combined Links and Supply Chain Salary Reports
lnkd.in/gtffWe55
Top 10 SCM Trends…Common theme: BIG DATA is not going away, 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.
www.visualcapitalist.com/what-you-need-to-earn-to-own-a-home-in-50-american-cities/
My students in Silicon Valley say making $200K+/yr feels like making $90K/yr in Metro Detroit. Some pay close to $6K/month for rent (so they need roommates). Owning a home will be tough. Kind of related...Ranked: Worst Companies for Employee Retention: lnkd.in/gVqJCXtV.
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. 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.
The jobs paying six figure salaries to help lead supply chain disruptions: lnkd.in/gU9VhJEG.
lnkd.in/g8n-dCz2
hashtag#supplychainmanagement hashtag#logistics hashtag#salary hashtag#careers
From Professor Curkovic - Connect with me on LinkedIn:
www.linkedin.com/in/sime-curkovic-61617a115/
“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
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
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
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/
Double Majors: Food & Consumer Packaged Goods Marketing (FMK) + Integrated Supply Mgmt (ISM) = Multiple Job Offers (i.e., Stryker, J & J, Kellogg’s, Hormel, Pepsi, Coca-Cola, etc.)
www.linkedin.com/posts/sime-curkovic-61617a115_double-majors-fmk-ism-multiple-job-offers-activity-6781278690979454976-tyWS
Please join me in congratulating the Food Marketing Team for crafting yet another record-breaking event during the 55th annual Food Marketing Conference. With more attendees, speakers, and scholarship support than ever, the entire FMK Team once again put the spotlight on the Premier and Unmatched Program we have in FMK at WMU. The content & speakers were amazing (and content is still available on-demand for 30 days) & several press outlets have picked up the spotlights:
lnkd.in/e-GTpvU
lnkd.in/eM5vsbb
lnkd.in/eE4ePFr
The hard work, planning, & adaptation that was needed to turn this long-standing in-person conference into a virtual event filled with cutting edge content, connections, & creativity paid off. Another conference for the record books. Thank you FMK team for continuing to enhance our national & international reputation for excellence in consumer packaged goods marketing.
Food & Consumer Packaged Goods Marketing (FMK): Ranked Top 10
Integrated Supply Management (ISM): Ranked Top 10
lnkd.in/ec9fQua
lnkd.in/e9j33EQ
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 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:
lnkd.in/ghs2jf_r?
www.linkedin.com/posts/sime-curkovic-61617a115_which-of-these-two-should-i-learn-power-activity-6993543672600416256-Lt6X?
1. Download Power BI
2. Go through the video tutorials of Power BI online (lnkd.in/gEYERYay)
3. Work on class exercises & 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.
Should we teach Tableau or Power BI or both? There are ONLY 500K unfilled SCM Data Science jobs on LI. 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 2 are about Power Query & Power Pivot & two about Visualization in Tableau or Power BI.
I 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 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 & 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 1 should be able to transition from one tool to another with 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 & which org they will end up working.
#powerbi #tableau #python
please i have a question how supply chain strategic decisions impact daily operations ?
Join: simecurkovic.com
I just created a website and it gives you access to hundreds of my blogs, job postings, hours of lecture videos, and class/research material. Also, there is a Q & A and contact section. You can contact me for any purpose any time and I will get back to you quickly. The subscription is only $25 for an entire year. You are under no obligation to join, but I think the investment would pay for itself. Also, even if you do not join, you can of course still reach out any time. I would be grateful if you considered joining.
Free sample view of one blog (see Elon’s resume and get resume ideas):
www.simecurkovic.com/2021/04/30/does-your-resume-make-it-obvious-that-you-know-how-to-solve-problems/
Please join at:
www.simecurkovic.com/membership/
Thank you again! Sime
WMU ISM program named top 10 in the country for second time in a row
wmich.edu/news/2016/07/33427
KALAMAZOO, Michigan-Western Michigan University's integrated supply
management program is heralding a national accolade that puts it among
the top such programs in the country.
The acclaimed WMU program has been ranked No. 9 on Gartner's
2016 list of Top U.S. Supply Chain Undergraduate University Programs.
This is the second time in a row that the program has been named among
the top 10 in the country.
"Gartner's program rankings are important to the long-term development of our supply chain program," says Dr. Robert Reck,
director and co-founder of the program, which was established in 1993.
"Supply chain talent is in high demand, and organizations use these
rankings to build their recruitment strategies.”
The Gartner report notes that in response to the high demand for
supply chain talent, the programs of the top 25 schools on their list
have grown 43 percent from 2014 to 2016, reflecting students’
understanding that the supply chain field offers many desirable career
opportunities and high placement rates.
Gartner, the definitive organization dealing with industry supply
chains, began ranking universities in 2009 as part of an industry effort
to promote the supply chain management field.
Ranking criteria
Industry value (highly recruited schools).
Program scope (students have a broad understanding of industry concepts).
Program size (number of students and professors in a program).
The report highlights the importance of internships and other
experiential learning opportunities, particularly in relation to
undergraduate programs. Report authors note, "Because far fewer North
American students have had paying jobs prior to college, exposure to
real professional settings is a must. If you're allocating scarce
internship and recruiting resources to a program, you want to know that
the program is good at partnering and providing support on internships,
and any student you talk to will have had one or more solid professional
experiences prior to walking through your door."
WMU was highlighted within the Gartner report for requiring an internship or co-op experience of all students.
"Our students have a variety of opportunities to gain industry
experience, from traditional internships to industry consulting, through
our Bronco Force program," says Dr. Sime Curkovic, WMU
professor of supply chain management. “We are fortunate to have an
incredibly strong network of employers who offer meaningful work
experiences for our students. And our students are able to deliver a
great value to our partners as well.”
In addition, Curkovic says, the WMU program requires several
experiential classes to address the critical component of industry
experience so central to the field.
"Gartner's methodology included surveying industry leaders to see
where they recruit and which programs they hold in high esteem," says
Curkovic who collected the data for the ranking. "More than 50
university respondents were also asked to provide information on
internships, starting salary, professors and the number of students
majoring in the specialty. Gartner also sought to measure the extent to
which a school's curriculum aligns with current industry needs."
About the ISM program
WMU's integrated supply management program has been recognized
nationally by several organizations and publications for its leadership
in preparing students for careers in supply chain management, including a
No. 2 ranking by Software Advice for emphasis on technology and quantitative methods, a No. 5 undergraduate program ranking from SCM World, and a No. 9 program ranking by Gartner. Each year, approximately 100
students graduate from the WMU ISM program with nearly all finding
positions in the profession. ISM students earn some of the highest
salaries among business students, with top students starting at more
than $60,000.
To learn more about the program, visit wmich.edu/supplychain.
The complete list
Pennsylvania State University
Michigan State University
University of Tennessee
Arizona State University
Rutgers University
Georgia Institute of Technology
University of South Carolina
The Ohio State University
Western Michigan University
University of Wisconsin, Madison
Texas A&M University
Indiana University
Howard University
University of Illinois
University of North Texas
University of Texas, Austin
Auburn University
Iowa State University
University of Houston
Syracuse University
University of Minnesota
University of Texas, Dallas
Marquette University
Lehigh University
University of Oklahoma
“Companies have been shifting from a “traditional experience-based” hiring approach to a skills-first one…” Keep that in mind w/ your resume & LI profile. 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.cnbc.com/2023/01/04/linkedins-top-5-soft-skills-you-should-start-building-on-right-now.html
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/SCM has a great ROI (just ask my students starting at 70K & making over six digits by age 30). lnkd.in/gipsXEsK
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 SCM 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
Part 3 can be found at: th-cam.com/video/0RsxriBsEx4/w-d-xo.html
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
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
To view 6 sigma lean student project presentations, see:
th-cam.com/video/bjIrIT-Cllc/w-d-xo.html
Hello Prof. Sime , I am actually 26 years old following a Bsc in International business with major in SCM and also a Bsc in Psychology at the same time in VU university, Amsterdam. Until now I do not have any professional exp, but next year ill look for internships. Do you think my qualifications would be enough in 2 years more when I finish my studies to be able to land a decent job offer? I am worried that the path I'm taking is the correct one but I do not know many people that are doing this. It would be of much help if you could guide me in a sort of way into which path should I take, Thanks!
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
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
Hi Sime! I am from Grand Rapids region! I currently am studying SCM at DePaul University in Chicago. Does Western offer a Master's program? Would you recommend going to graduate school?
Hi Luke: See below. You can do great in SCM without a graduate degree. However, data shows that a graduate degree (12 classes) delivers a huge bang for the buck. With graduate school, get a degree in something that you might be weak at but companies value it (i.e., Finance). Also, pay attention to the brand/reputation/image of the degree. It matters if you plan on job hopping around. Also, WMU does not offer a graduate degree in SCM. We hope to though in the near future. Thank you. Sime
Dream Jobs: Six-Figure Salaries and a Bright Future by Louise Tutelian
Seemingly every week, another publication or website comes out with its list of the "Best Jobs of the Year" or the "Hottest Careers," purporting to show the best fields to get into for job stability and earnings potential. The problem with many of these lists is that the jobs and careers on them often require years and years of training (see: biomedical engineer), offer an extremely small overall pool of jobs (see: meteorologist), or really don't pay all that well (see: home health aide).
So we've put together a list of jobs that suffer from none of these disadvantages. Using statistics from the Bureau of Labor, salary sites, professional trade groups, and recruiters, we identified jobs that don't require more than two years of additional training to secure a position, have a reasonably large and growing number of overall jobs, and offer six-figure salaries to top earners in the field (generally, the top 10 percent of those employed). These, to our mind, are the true dream jobs.
Global Supply Chain Manager!!!!!
Salary for top earners: $135,100
Projected job growth: 10 percent by 2020
Additional training required: Transitioning into this field could take between six months for courses and up to two years to get a master's degree. Those with operations, purchasing, or logistics education and/or experience have the best chance of getting into this field.
Global supply chain managers are the unsung heroes of companies who have to get products from A to B, on time, and on budget -- and now across continents and time zones as well. The job calls for calm problem-solving ability, high-tech handiness, and diplomatic skill -- a triple threat that's hard to find. According to industry analysts, there is a growing shortage of these specialists as companies streamline and speed up every link in the chain to stay competitive.
More info...
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
Do you understand why the salaries got bigger in each line above?
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
www.yahoo.com/news/young-people-remotely-probably-not-154352191.html
Young people who work remotely are 'probably not' going to become corporate CEOs, an NYU business professor says:
For a list of employers with 100% remote jobs, see: lnkd.in/g6cq-S6E. When in the job interview process do you disclose that you only want to work remotely? lnkd.in/ggqZ8xbZ. It is becoming increasingly common for our graduates to prioritize remote work opportunities. The appeal of flexibility and the comfort of working from one's own space is undeniable (I do it VERY often).
However, as a supply chain professor, I have concerns about their professional development. Immersion in an on-site environment often provides invaluable learning opportunities: spontaneous interactions with peers, hands-on exposure to real-world challenges, mentorship, and the cultivation of soft skills that can be difficult to nurture in a ZOOM setting. While remote work offers numerous advantages, it's crucial for new graduates in the workforce to strike a balance, ensuring they don't inadvertently limit their growth potential by missing out on these integral experiences.
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#networking hashtag#remotejobs hashtag#internships hashtag#interviewing
This is a very good resume/career guide from K State & another from MIT: lnkd.in/diwa34dh. Pasted below are links from Yale, Harvard, & ours (WMU, 112 pages). 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.”
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. More from Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE & lnkd.in/gC44Baeb
MIT Resume Guide: lnkd.in/g3xqeDyc.
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.
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.
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/dtqV-HqE.
Hey, I am in the last year of my graduation in India and I am thinking to pursue MSc in Supply Chain Management. What is the scope for this degree after COVID-19?
Hello Chetanya:
th-cam.com/video/LFD1R0De_zQ/w-d-xo.html
and
th-cam.com/video/WSt8nnLn8Kc/w-d-xo.html
Let me know if you still have questions after this. Thank you. Sime
@@simecurkovic Thanks!
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
Supply Chain is the Dream Job? Quickest Way to Six-Figure Salaries.
Every week, another pub comes out with its list of "Hottest Careers."
So, using stats from the gov, what’s the dream job?...
www.linkedin.com/posts/sime-curkovic-61617a115_supply-chain-is-the-dream-job-six-figure-activity-6771789086219919360-TthI
Global Supply Chain Manager!!!!!
Average salary for higher end earners: $135,100
Global SCM managers are the unsung heroes of companies who have to get products from A to B, on time, & on budget. The job calls for calm problem-solving ability, high-tech handiness, & diplomatic skill -- a triple threat that's hard to find. According to industry analysts, there is a growing shortage of these specialists as companies streamline & speed up every link in the chain to stay competitive.
More info...
Notice what happens to salaries as you get certified & get a
graduate degree...
Careers in SCM
Average Salaries (this is actually a few years old so the current numbers are even bigger)
*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 $62K)
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
Do you understand why the salaries got bigger in each line above?
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.