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: 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. www.linkedin.com/posts/sime-curkovic-61617a115_do-certificate-programs-pay-off-activity-6985915795742605312-TTgA?
Human Resources Management Majors SHRM, the Society for Human Resource Management, is a 300,000+ member international org for HR professionals that provides several different types of resources, training, and networking opportunities for members. They have affiliate chapters throughout the world at the State and Local levels (MISHRM and KHRMA), as well as student chapters (our own SEHR).
SHRM offers two levels of certification: the SHRM-CP (certified professional) exam and the SHRM-SCP (senior certified professional) exam. If students come out of a college program aligned with the SHRM Body of Skills and Applied Knowledge (BASK), they can take the CP exam as soon as they have 500 hours of work experience. Some of our students who have had internships are able to take the SHRM-CP before they graduate.
Based on my observations: employers that interview very selectively for internships & pay market value, tend to convert exceptional talent into full-time employees. In fact, they pay their interns a salary that is very close to what their full-time offers are. For example, from a student: “My interview process with Firm A was amazing. They started off with a logic test and then proceeded w/ 3 rounds of virtual interviews. The last round was me personally with the vice president of Purchasing, which I thought was a sign of care of their interns…compared to Firm B where I had a single round interview w/ 2 younger people in their job rotation program. Also, Firm A is offering me 20% more in salary. Firm B also put a bad taste in my mouth when they made the offer 1.5 months after the interview. And Firm B said that I would have a decision from them a week after my interview, which obviously did not happen.”
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.
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).
Reminder: Yes, it is now time to start applying & interviewing for summer internships. Companies get budgets for internships approved months ahead of time & they often recruit nationally for the best talent. Some want to get this wrapped up by the end of the year, but you have to start looking now. Do not wait until Spring 2023 to find a Summer 2023 internship. Note, around ½ my students line up summer internships in the Fall & the other ½ during the Spring (so, it’s never too late). Just look at how demand > supply… There are already > 20,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE & lnkd.in/gt98WuvK & > 60,000 business related internships. lnkd.in/gmMH5myb PERHAPS delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb lnkd.in/gARup7zr lnkd.in/g4-csGUy Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). Over half our students are making over $20/hr. I firmly believe the program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16 per hour. Why would any company want to pay 20-30% below avg? I have soooo many students asking about STAR job interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR. More help: lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Help with online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5 Students are getting lots of job offers... Reneging: Once you commit, quit! lnkd.in/e85beQ2 In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? Recent observations & career advice (videos/podcasts): lnkd.in/gJK8xBZe lnkd.in/g-CanjDx lnkd.in/gvPiGTt5 Tips/advice from this college professor (aka, educated idiot): 1. Read. People that read a lot make more $ (2.3 times more?!) lnkd.in/ggBDzJrp 2. Learn the job saving technology. lnkd.in/eu7ANq6 lnkd.in/gE3wp6JU 3. Learn to interview well. lnkd.in/ePzz3NG and lnkd.in/eZgTxWc How to prep for virtual career fairs: lnkd.in/evKd-VzQ Being job ready… lnkd.in/ed-ZfanD 4. Learn to negotiate ($). lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu 5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR lnkd.in/dAwyTUy lnkd.in/gFa3iCsg 6. Delay graduation for experience. lnkd.in/ewKu7b_X 7. Learn to problem solve - lnkd.in/eWaJ8q2 lnkd.in/gSVTKmwC 8. Double Major? lnkd.in/gAViGTVG lnkd.in/gqAE9u8W 9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty lnkd.in/gA9KH-Ff 10. Job rotations? lnkd.in/ervskG5 11. 10 college majors that earn the most money: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU. 12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ lnkd.in/gsKyJ9rn 13. Get certified as a subject matter expert: lnkd.in/g3yfkvQr lnkd.in/gVbQV2q7 14. Learn to talk CFO talk: lnkd.in/gtve9xTM #internships #careeradvice #interviewing #supplychain
I had a SCM professional ask: “I don’t even know basic python yet . I want to get to the more advance items but I am not ready yet . I’ve done research into different courses but there are so many basic courses, I’m not sure which one is actually useful for someone looking to do supply chain analysis.” Some options: You could try one of those intro python classes at coursera or udemy. Just a word of warning, the lack of interactivity and support at those MOOCs usually causes a super low retention rate (9% - 16%). The person needs quite a bit of dedication to successfully finish it. After that, look for a second course in analytics, data science or machine learning using python. This assumes that he/she is interested in using python for those. Otherwise, invest time in pre-built specialized software packages (e.g., Rapidminer, XLminer, Knime, SAS, SPSS, etc.). I kind of like these bootcamp (such as at MSU) but it seems to be an aggressive design. Each of the topics listed under their “Market-Driven Skills” is usually a semester-long course. I am not sure if they are targeting people with some experience in these areas. But, yes, it seems to be an interesting program. The same thing applies to analytics certificates offered through MOOCs, such as Coursera, EdX and others.
One caveat that SCM grads should know is that many of these online programs lack the required hand-holding experience. This is why the retention rates of MOOCs are usually in single digits. We find that this hand-holding experience is essential to motivate students to complete the training. bootcamp.msu.edu/data/landing/?msg_cv_scta=4&msg_cv_stbn=1&msg_cv_fcta=1&fqvar1=3&Data&DGPAdvanceUpskiller01_DGPAudTest1_rfullg&SponsoredContent&MSU47_SCI&L2067A_SponsoredContent-Image_Data_Detroit_DGPAdvanceUpskiller01_rfullg_DGPAudTest1_BrandedModel1_CPC&li_fat_id=e627c4e1-d133-41a6-86ec-57fd4b25a952 MOOC stands for Massive Open Online Course. It is an online course that is designed to be open and accessible to a large number of participants. MOOCs offer a flexible learning environment, allowing participants to learn at their own pace and from anywhere in the world. MOOCs are typically delivered through an online platform that provides access to course materials, videos, quizzes, and discussion forums. MOOCs are usually free and open to anyone who wants to enroll. Some MOOCs may also offer a paid option to receive a verified certificate of completion or academic credit. MOOCs are offered by a variety of institutions, including universities, educational organizations, and private companies. MOOCs have gained popularity in recent years because they offer a convenient and cost-effective way to learn new skills and advance your career. They cover a wide range of topics, from computer science and engineering to business and the humanities. www.linkedin.com/posts/sime-curkovic-61617a115_will-i-have-to-learn-and-do-a-lot-of-coding-activity-7029050409201668096-Srar?
A related great read…Half of College Grads Are Working Jobs That Don’t Use Their Degrees: lnkd.in/efcJQEXJ. Translation: Success = Pick the right major (i.e., demand > supply) + Get work experience (i.e., internships related to major) + Pick the right first job (i.e., they pay a premium for your major because of supply/demand conditions and you are job ready day one because you have professional work experience). Notice:
“More than any other factor analyzed-including race, gender and choice of university-what a person studies determines their odds of getting on a college-level career track. Internships are also critical.”
I chuckled at this one: "He also regrets taking an entry-level sales job in logistics after months of fruitless job hunting after graduation."
“Bachelor’s degree holders in college-level jobs earn nearly 90% more than people with just a high-school diploma in their 20s.”
“…most of the graduates who don’t find work reflecting their degrees are what they call “severely underemployed, meaning they’re in jobs that only require a high school education or less.”
Picking a college major: lnkd.in/eX8XUHxj
The 16 worst-paying college majors, five years after graduation: lnkd.in/eTyx7YpW. But…If You Majored in One of These 18 Subjects, You’ll Likely Have a Comfortable Retirement: lnkd.in/exHB9Duj.
Our new "apprenticeship" program: We just concluded a co-op pilot program with a F500 company that was highly successful and has started its second iteration in 2024. So, what makes this Co-op program different? lnkd.in/eBTbaQui
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
Our students are going into a job market inundated with outdated processes. Manual and labor-intensive operations will force them to spend hours every week doing repetitive tasks that could be automated for much greater efficiency and accuracy, allowing them to focus on more fulfilling work. The majority of their time will be spent gathering data, while much less will be spent analyzing and providing insights to support strategic decision-making. For example, during these inflationary times, it is time for business faculty to start teaching the lost art of Price Analysis and Strategic Cost Management (in very different ways). I have asked a lot of business managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), Commodity Exchange (COMEX), London Metals Exchange (LME), New York Mercantile Exchange (NYMEX), etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process. Surprised by price increases? As much as 70% of current contracts have price increase provisions! In the WMU supply chain management program we teach our students to track commodity forward price curves. We now look at raw material market data from multiple sources, visualize and analyze historical pricing scenarios, and simulate planned purchases and what-if scenarios against forward price curves. How do we better prepare our business students to be job ready day one? Procurement organizations need processes and “tools” to mitigate and negotiate on these price increase requests in a strategic, data-driven manner (and academics need to do a better job of teaching it). Traditionally, we have worked very hard to help our students develop very sophisticated data analytics skill sets to manage these very large and complicated forms of information. Employers place a premium on these business analytics skill sets and would include: Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). See our Business Analytics minor at: wmich.edu/infosystems/academics/analytics However, I would recommend complimenting the above skill sets with bringing in some cloud-based software and technology that gets us beyond manually updating and coding giant colored Excel spreadsheets. For example, I have been collaborating with N-Alpha and they have a cloud platform called materialx that I am bringing into the classroom (n-alpha.com/solutions/decision-support/). It gets us away from manually updating spreadsheets. Further, these technology software companies tend to be very supportive in helping faculty and students as these students will eventually become the future business professionals that actually use the technology (win-win-win, right?). And the technology is out there! We will soon have some white papers from our WMU SCM program based on the following price analysis & strategic cost management research. Some of our alumni are already testing and / or implementing these cloud-based services that allows procurement organizations, finance, and all other organizations that are exposed to raw material pricing changes, to stay on top of market pricing from multiple sources and proactively assess its impact on future raw material purchases. These technologies are also now serving as the basis for addressing price indexing implementations (formulas, alerts, etc.). It can all be done automatically and updated daily, saving hours from manually updating spreadsheets. These tools are quick and easy to use to prepare for price negotiations with suppliers, and often returns its investment (which is minimal to begin with) rapidly. These technologies also allow organizations to replace multiple spreadsheets and email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions and what led to them, and capturing organizational knowledge. I have asked many of my former students what are the most prevalent technologies used in your supply chain and business role. The two most common answers are Excel spreadsheets and email. It is 2023 now and we need to move further along. You could make a strong case that using antiquated business tools was a major source of supply chain disruptions the last few years. My former students keep telling me they are the “Excel Spreadsheet” generation. Excel works and they have very advanced spreadsheet skills. They also tell me that it gives them a competitive advantage in the workplace (i.e., people depend on their monthly report outs per se and very important people read them). The older managers have very weak Excel skills and even the younger graduates coming in have to play catch up to the people that are in their 30s and 40s (that have very advanced Excel skills). My former students also feel very comfortable with Excel. Many of these spreadsheets are their own creation and they find it empowering. In general, it works, it works well, it gets the job done, they feel comfortable with this version of technology while most others do not feel comfortable with it, the technology itself is cheap, and it gives them job security. Some said it took years to build up these spreadsheets, and now they are up and running. However, as I teach my current students, there are alternatives rooted in technology that will allow you to do things better, faster, and cheaper. Final Thought In talking with a colleague, we both agreed that many hiring managers do not have a full understanding of the Artificial Intelligence (AI) skill sets associated with our graduating students. Our business students told us many times that their hiring managers valued only the traditional Excel capabilities (i.e., lookup functions, pivot tables, etc. - however, that is NOT AI). Managers also greatly overlook the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go beyond our Advances Excel and Predictive Analytics courses. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills and managers become more open to embracing the benefits (which might require a culture change). Embracing and trying new technologies requires leadership that is willing to try new things. Otherwise, we keep using spreadsheets and email to manage very large and complicated data sets.
Hello Professor Sime, I'm pursuing my bachelor's degree in supply chain, Transportation, and Logistics management. I currently work in the corrugated packaging industry hoping to switch over to the aviation industry. I was hoping that you can give me some insight on if pursuing a masters degree in supply chain engineering or if pursuing different supply chain certifications would be better to fall into role like supply chain analyst or Supply chain engineering or if my bachelor's degree should be enough. Thanks in advance Kourtney Albert.
Finally, an article about rankings that makes sense (from Forbes). Then there’s this...U.S. News & World Report: Best Undergraduate Supply Chain Management / Logistics Programs: lnkd.in/giMYXfR5. Note, in these rankings, multiple schools do NOT actually have undergraduate degrees in Supply Chain Management. For example, correct if I am wrong, but: MIT does NOT offer a specific undergraduate degree in supply chain management. However, MIT's Sloan School of Management offers courses and programs in operations management, which includes aspects of supply chain management. The University of Michigan offers a Bachelor of Business Administration (BBA) degree through the Stephen M. Ross School of Business. While they do NOT offer a specific undergrad degree in SCM, the BBA program includes courses in operations management & SCM as part of its curriculum. Additionally, students can choose to focus on SCM as part of their elective courses or choose a related major or minor, such as operations management. Carnegie Mellon University does NOT offer a specific undergraduate degree in SCM. However, the Tepper School of Business at Carnegie Mellon offers a Bachelor of Science in Business Administration (BSBA) degree, which includes courses in operations management and operations research. Students in this program can choose to focus on operations and supply chain management as part of their concentration or as elective courses. Additionally, Carnegie Mellon offers a minor in Operations and Supply Chain Management that can be pursued alongside a major in another field. ___ Yale and Harvard law schools part ways with U.S. News & World Report rankings: lnkd.in/gTx5vZfg. Note, Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession w/ them...lnkd.in/gv_vZ4k9. From me: Pay attention to what matters most- maybe not rankings...especially at the undergrad level. lnkd.in/geVybK-W lnkd.in/gEw8ZMbc Students: Pay attention to what matters most- maybe not rankings...especially at the undergrad level. If you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat suspect. At the undergraduate level, pay less attention to the brand and reputation of the school, and pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.). #supplychain #collegesanduniversities #careeradvice
Mid-Level Supply Chain Positions | Average Salary: $115,000 Senior-Level Supply Chain Positions | Average Salary: $260,000 Nice supply chain website. My students ask great questions when it comes to…money. Recently, someone asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. Entry-Level Supply Chain Positions | Average Salary: $69,000 Also: Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000 Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000 Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000 Source: lnkd.in/ga8Azij7 __ Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. lnkd.in/dkGr4_uX Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. Salaries per "ASCM" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year." Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7. SCM $ Information - lnkd.in/gn5jM9xt lnkd.in/gTBMP5dM lnkd.in/eQvfFMc lnkd.in/g7YamZCU #supplychain #job #salary #manufacturing #logistics #procurement
Also, our new SCM major curriculum is well underway (and now ALL majors can minor in supply chain...all products and services have a supply chain).
Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For a long time, we required a single procurement class & a single logistics class. They simply were not enough as one class left little time to focus on the strategic issues. So, starting in Fall 2023, our SCM majors will be required to take 2 sourcing classes & 2 transportation classes.
The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics $ Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Mgmt Program: MKTG 2750 Global Negotiation SCM 2200 Enterprise Resource Planning Systems SCM 2800 Introduction to Supply Chain Mgmt SCM 3000 Production Planning SCM 3030 Procurement Mgmt SCM 3050 Logistics and Transportation Mgmt SCM 3800 Continuous Improvement Theory & Practice SCM 3810 Applied Continuous Improvement Project SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required) SCM 5050 Strategic Transportation Mgmt CIS 2640 Applied Analytics Foundations Or a minor in Business Analytics lnkd.in/eprKKbF lnkd.in/gp6VX_e3
What skills come with the Business Analytics minor?... 1. Adv Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j
Hello Sime! I’m a huge fan and appreciate what you do for the community of supply chain students worldwide. I do have a question though that I want to ask you. I’m currently a junior and i major in supply chain management at southern Illinois university. Recently we have just included a business analytics program which allows me to now minor in a form of data analytics. Speaking with some of my professors I’m kind of torn between minoring in BA and Marketing. Some of them recommend marketing some say BA. What is your take on it?
Hi Jason, both are great options. Note, I think Business Data Analytics requires tons of hand holding and the classroom is the best place to learn that material, and you will need those skills right away and moving forward. See: SCM Data Scientist (>171K jobs on LI- that's all). Our Business Data Analytics minor: lnkd.in/gf_UWz5x lnkd.in/gKV4dw2z lnkd.in/gHnUrVZz lnkd.in/g9pgFErz Here is making a case for the Marketing side: www.linkedin.com/posts/sime-curkovic-61617a115_question-from-a-student-i-am-thinking-of-activity-6852554774370430976-sBoX/
www.simecurkovic.com/posts-page/ www.simecurkovic.com/membership/ - Supply chain knowledge for everyone. Explore, learn, & connect - Do your job better, faster, & cheaper - Join my network to reach thousands of SCM students, faculty, & professionals - Hot Market: Over 25,000 SCM internships and > 250,000 full-time jobs Join to get access to endless current SCM content and job postings. Bring your SCM needs and questions, and I will provide you with timely and thorough feedback. If you join our growing community today, you will have access to Sime Curkovic’s expertise through blog posts, articles and videos. You’ll also gain access to Dr. Curkovic for one-on-one advice. Dr. Curkovic (please do not call me Dr.) has more than 30 years experience working to shape the future of SCM professionals. Check out this intro lecture (>217K views). Have access to > 50 hours of timely SCM content with > 4,400 TH-cam & > 20K LinkedIn followers, & thousands of views daily.
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
Accounting Majors There are a lot in accounting, the CPA is the most widely recognized certification, followed closely by the CMA (Certified Management Accountant). Some of the other certifications are CIA (certified internal auditor) CFA (certified forensic accountant) CGMA (chartered global management accountant)
The AICPA is the CPA, the IMA is for the CMA, the AICPA is working to expand into management accounting with the CGMA. __ Business Law: American Bar Association (that’s all I have). __ Digital Marketing For digital marketing, there is no widely accepted industry organization, possibly because half of the people in the industry are self-taught, but there are quite a few localized organizations that seek to bring people together with regularity. Our students will actually be helping launch a Kalamazoo-based professional group in mid-October. "Kalamazoo Digital Media Meetups" will become a quarterly thing for professionals in the southwest Michigan area.
There are many different certifications, but none are industry standards. Email me for a list of free ones that faculty recommend to students (although from this list, only a few from Google are ones that are actually requested in job postings).
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
Students: It is not too late to find a summer internship (not even close). OK, maybe a little close, but I have students that are interviewing as we speak. You just have to keep looking. 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
What do internships pay (never work for free)? The going rate appears to be $20-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. FYI, our career services manual has 112 pages of ideas to help with resumes, interviewing, getting offers, etc. For more help, pasted below are links from Yale, MIT, & Harvard (not bad, good schools I hear).
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE & lnkd.in/gC44Baeb MIT: lnkd.in/g3xqeDyc. This is a very good one from UNC Pembroke: lnkd.in/gJA3uub2 WMU career services manual link: lnkd.in/gipsXEsK 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. Great read…Translation: Success = Pick the right major (i.e., demand > supply) + Get work experience (i.e., internships related to major) + Pick the right first job (i.e., they pay a premium for your major because of supply/demand conditions and you are job ready day one because you have professional work experience). Notice: lnkd.in/eZShQDtJ. hashtag#jobhunting hashtag#networking hashtag#interviewing hashtag#resume
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
Mapped: What You Need to Earn to Own a Home in 50 American Cities 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. They also pay around $6K/month for rent (so they need roommates). Owning a home will be tough. 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.
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5 Logistician, $74,750 Logistics analyst, $58,713 Supply chain planner, $64,844 Purchasing agent, $69,600 Purchasing manager, $121,110 Logistics manager, $114,670 Distribution manager, $94,775 Operations manager, $100,780 Business and supply chain competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%. Top two: Microsoft Office and productivity tools Advanced Microsoft Excel Technical skills Among the top and fastest-growing technical skills are: Data science Supply chain knowledge Supply chain management Project management Many of our SCM students get a Business Analytics minor, what does that mean? See: 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j From me: AI will have a great impact on SCM. However, one thing often not mentioned is the attitude of hiring managers, as many do not have a full understanding of the AI skill sets of graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities (lookup functions, pivot tables, etc. - that is NOT AI), & they greatly overlooked the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go BEYOND our CIS 2640 (Excel on steroids) - Applied Analytics Foundations. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills & managers (SCM Leaders) become more open to embracing the benefits (which might require a culture change). #supplychain #dataanalytics #datascience #python #artificialintelligence #ai
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?
Did you know that 80% of the global goods trade is transported over sea? FYI: COSCO Shipping (#4 on list) is China’s state-owned shipping company. For context, Chinese state-owned enterprises have ownership stakes in terminals at five U.S. ports. See: lnkd.in/g3AfzPAj? I had a student ask me why don’t all those shipping containers have smart technology attached to them? I said I am very certain some do. He asked what %? I was like a deer in headlights, no idea. I guessed & said < 1%. Per this article, I guessed well: lnkd.in/gC8MrgAC … around 3.6% of the global container equipment fleet was fitted with smart technology devices, representing 30% growth from the year prior. BUT… looking at dry containers, only 0.3% of the global fleet is currently considered “smart”. Educated idiots (professors like me) are great guessers. Here is some good news: …the technology so far has been mainly reserved for reefer & intermodal containers, where smart containers represent approximately a third and 40% of the respective global fleets. … Drewry forecasts the number of smart containers in the global fleet to accelerate rapidly and reach over 8.7 million units in 2026, representing as much as 25% of worldwide box inventories. I am still shocked by the lack of technology used to manage the supply chain. The two most used technologies: email & excel (huge color coded spreadsheets)...and back and forth emails about spreadsheets. People want more $ & rewarding work (not paperwork, use technology!) - lnkd.in/g7BwX84c lnkd.in/gzpRX6Dd “…most companies’ planning processes are functional, slow and labour-intensive, and that Excel is still the most widely used planning tool.” That is VERY consistent w/ the feedback I get from former students. Predictive Data Analytics (Excel on steroids): I get this kind of feedback all the time…lnkd.in/dQABdsXc Do you know how to use Power BI or Tableau? Which does your company use? Is it mainstream? Visualization is huge. lnkd.in/gceUgQw3 #1 DISRUPTOR is a SCM technology company (Flexport)! 10 of this year’s Disruptors are from the “logistics” sector! Get ready for the convergence of Logistics + Industry 4.0 + Data Analytics. lnkd.in/gV6hM-2E Do not be a victim of technology. lnkd.in/eKEaPGq and lnkd.in/efCCBQ5s I have repeatedly said a huge part of Industry 4.0 will be taking all the “manual” processes that exist & “automating” them using “technology” so that they get done better, faster, & cheaper. #bigdata #dataanalytics #supplychainmanagement
Certifications and Industry Associations by major... Finance Majors: The CFA Institute for individuals wanting to earn and hold the CFA designation, (focus on investment analysis, etc.) and the CFP Board for those wanting to earn the CFP designation (work with individual retail customers on financial planning)
Personal Financial Planning: Financial Planning Association
There are many different avenues under the finance umbrella. Most of these have some type of certification. This page provides a primer on some of the more common designations: www.fma.org/finance-certifications __ Sales Hmmm. Not really? Salespeople prefer to join other associations where customers hang out. Hanging with other salespeople is not helping them sell anything.
Our degree is more advanced than most industry training programs, so no real benefit in spending more money to earn an unneeded certification. Sales results are the only certification worth anything. Produce and thrive or don’t and don’t.
Subject: Read: People that read a lot make way more money (2.3 times more?!!!!) Students: Here is an astounding fact - readers make more money - a lot more! It's true. According to a number of studies*, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year. Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas and strategies they can use to help their careers (e.g., developing core competencies), their teams and their companies. The Japanese call this act of using a stream of new ideas to improve business practices "Kaizen". They constantly use new ideas to make incremental improvements, which over time, stack up one on top of the other to create massive success. The same success principle applies to managers. But where can you find a stream of new and practical ideas to help drive your success? The easiest and most underutilized method is to learn directly from the world's business experts (e.g., the Harvard Business Review). Many of them have written great books that offer their proven strategies and winning ideas - ideas and strategies that took years to develop and perfect. This information is just sitting there for the taking - ready to propel you to the next level. The problem is, who has the time to do all that reading? A recent study showed that 74.9% of all managers understand they need to read more to stay ahead of the curve, but they simply don't have the time. And this troubling reality is directly impacting their incomes - not to mention their careers! There is a solution! Just read. Last year I had a student with a "BOOKS READ" section on her resume and it included a combination of business professional and personal pleasure books. She had a list of around 10 books. I am curious, if you had this section on your resume, what would that list look like? ___ Pick up a book Both Gates and Buffett make a point to read every day, a habit that research shows reduces stress and boosts intelligence. "Reading books is my favorite way to learn about a new topic," Gates writes on his blog. "I've been reading about a book a week on average since I was a kid. Even when my schedule is out of control, I carve out a lot of time for reading." Every evening before bed, he reads for one hour. By making time every day, he reads a whopping 50 books each year. Buffett too credits much of his prowess to reading. He says he starts every morning by poring over several newspapers and estimates he spends as much as 80 percent of his day reading. When asked once about the key to success, the Berkshire Hathaway CEO pointed to a stack of books and said, "Read 500 pages like this every day. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it." As Ferriss writes in his popular book "Tools of Titans," habits are more important than we think. "To enjoy life, you don't need fancy nonsense," Ferris writes, "but you do need to control your time." __ According to another study in the Economic Journal, those who had over 10 non-school books as a kid earned an average of 21% more than those who did not. __ Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas & strategies they can use to help their careers, their teams & their orgs. ___ Recommended Books to Read (perhaps during break or next summer or...now?)... Students:
Recommended book reading (these are classics for business majors): 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 GOAL: ELIYAHU GOLDRATT THE SERVANT: JAMES C HUNTER The video shows 7 business books recommended by Stanford professors, but these are pretty good also… www.linkedin.com/posts/sime-curkovic-61617a115_what-are-you-reading-this-summer-discover-activity-6983375927942533120-MfLG? Recommended by Sime: The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt, a business consultant whose Theory of Constraints has become a model for systems management. It was originally published in 1984 and has since been revised and republished in 1992 and 2004. This book is usually used in college courses and in the business world for case studies in operations management, with a focus geared towards the Theory of Constraints, bottlenecks and how to alleviate them, and applications of these concepts in real life. This book is widely used in leading colleges of management to teach students about the importance of strategic capacity planning and constraint management. Another great choice and my first choice would be Car Guys vs. Bean Counters: The Battle for the Soul of American Business by Bob Lutz. He took over GM design around 2000 until about 2009. He's responsible for a lot of the good designs coming out. He was a marketing guy, and there's a lot about marketing in it. Thank you. Sime 10 Greatest Supply Chain Management Books of All Time In dynamic supply chain environment, people have to make the quick and decisive actions against various issues. This can only be achieved by the knowledge and skills of the team. Then companies try to motivate staffs to continue developing their skills on regular basis. For both entry and executives, the self-study method has proven to be a cost-effective option. In order to facilitate smooth learning process, this article will show you 10 greatest supply chain management books that can help you accelerate the learning. Results: And the winners of 10 Greatest Supply Chain Management Books of All Time are listed in alphabetical order as below, - 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 Free online SCM books: www.mim.ac.mw/books/Purchasing%20And%20Supply%20Chain%20Management%204th%20edition.pdf www.sipm.com/Procurement-Academy/Articles/Cost%20Management/StrategicCostMgtLisaElram.pdf www.mheducation.com/unitas/highered/sample-chapters/9781259957604.pdf ___ 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" by Cecere - The book links corporate financials to supply chain maturity, & what metrics matter most. “Over time, more companies are choosing to draw from their SCM team when they are looking to fill the CFO role. Therefore, a background in SCM is the perfect preparation for a CFO career path-& possibly even the job of CEO.” lnkd.in/dh8D9tyF lnkd.in/dgJQ3zZm
Other reads that I think you 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
We are now touching on the Logistics & Supply Chain Management distinction in my Intro to SCM class. Students are shocked by how broad SCM really is (they were concerned it was too “nichey”). Also, our new SCM major curriculum is well underway (and now ALL majors can minor in supply chain...all products and services have a supply chain). www.forbes.com/sites/katevitasek/2023/08/18/whats-the-difference-between-logistics-and-supply-chain-management-and-why-it-matters/?sh=320a0dd4d639 Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For a long time, we required a single procurement class & a single logistics class. They simply were not enough as one class left little time to focus on the strategic issues. So, starting in Fall 2023, our SCM majors will be required to take 2 sourcing classes & 2 transportation classes. The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics Salary Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM. WMU Supply Chain Management Program: lnkd.in/eprKKbF lnkd.in/gp6VX_e3 MKTG 2750 Global Negotiation SCM 2200 Enterprise Resource Planning Systems SCM 2800 Introduction to Supply Chain Management SCM 3000 Production Planning SCM 3030 Procurement Management SCM 3050 Logistics and Transportation Management SCM 3800 Continuous Improvement Theory & Practice SCM 3810 Applied Continuous Improvement Project SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required) SCM 5050 Strategic Transportation Management CIS 2640 Applied Analytics Foundations Or a minor in Business Analytics What skills come with the Business Analytics minor (imagine seeing this on a student resume)?... 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j #logistics #supplychain #procurement #purchasing
Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that. www.linkedin.com/in/sime-curkovic-61617a115/recent-activity/shares/ I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergraduate level. Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ "Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk …only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable. At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh Another study: Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH 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 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 #supplychain #collegesanduniversities #collegestudents #supplychainmanagement #careeradvice
Looking into getting into the SCM field but do have a strong SCM background? These SCM graduate certificates could help get your foot in the door. For example: MIT MicroMasters program in SCM courses are delivered at a fraction of the cost of traditional training. Single subject courses are US$199-US$299 per person. The full MITx MicroMasters program credential is US$1524.60. Sime: You need to be very disciplined to follow through in these online environments though. micromasters.mit.edu/scm/mitx-micromasters-scm-business/#:~:text=Affordable%3A%20MicroMasters%20program%20in%20SCM,program%20credential%20is%20US%241524.60. Sime: and I think this gets you half way to a full blown graduate degree at a fraction of the cost. Brilliant if you can flourish during an online experience. I think SCM education is fairly conducive to online learning because it does not require tons of hand holding (versus data science which I think does require some hand holding as I would need to learn that face to face). Also, I think you can apply to ASU’s graduate online program and apply these 6 classes from the MIT MicroMasters SCM. Good luck to other schools trying to compete in this space with ASU and MIT collaborating in very creative ways.
Thank you Hire Lily for the supply chain salary data, & also your Insights: lnkd.in/gSYKjixY. Also from ISM: Both women’s & men’s compensation fell in 2021. From ISM: lnkd.in/g2dVpbeK & lnkd.in/gHMUSv_s. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. 2020 $ (before covid): lnkd.in/gz8WQEhr. 2018 $: lnkd.in/gV53aggX. Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr. FYI from 2019:lnkd.in/grttnhZm 2018: lnkd.in/gTBMP5dM Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. www.linkedin.com/posts/sime-curkovic-61617a115_more-supply-chain-salary-data-activity-7019631483912929280-eNkC?
Another awesome post Ms. Labes, thank you. Just curious as to where people think the supply chain function should sit within this chart, especially in regards to the CFO. Assume mfg orgs where direct material purchases (from their supply chain) are 50-80% of each dollar in sales revenue. www.linkedin.com/posts/sime-curkovic-61617a115_entrepreneur-finance-business-activity-7038161272391036928-VZap? FYI, per chatGPT: On avg, what % of each mfg sales dollar is in direct material costs? The % of each mfg sales dollar that is in direct material costs varies depending on the industry & the product being manufactured. However, a commonly used benchmark is the Cost of Goods Sold (COGS) metric, which includes direct material costs, direct labor costs, & overhead expenses associated w/ production. According to the National Association of Manufacturers, the avg COGS as a % of sales for U.S. manufacturers was 64.7% in 2020. However, this % can vary sig depending on the industry, w/ some industries such as food/bev having a higher % of direct material costs, while others such as software/technology having a lower %. In summary, while it is difficult to determine an exact % for direct material costs as it varies across industries & products, a common benchmark is the COGS metric, which is typically around 65% of sales for U.S. manufacturers. __ Remember, ROI = profit margin * asset turnover rate (ATR).
ATR = sales/total assets total assets = current assets + fixed assets current assets = inventory + accounts receivable + cash.
I keep telling my students if they can widen margins (i.e., reduce direct material costs since that is where most of your costs come from) and/or increase ATR, then ROI will go up. So, if you can reduce your total assets without changing sales and/or increasing sales, then ATR goes up. For example, reduce your inventory and your ATR will go up and ROI will go up. If you can do more with less, then your ATR will go up. Arguably (in mfg orgs), no other major/function (SCM) has a greater impact on what goes into the ROI calculation. That is why SCM graduates will likely be immediately bonus eligible and their highest ranking functional area (SCM) leader will have a VP in front of their name. WHAT IS THE FORMULA FOR ROI? Return on Investment equals Profit margin * asset turnover rate. WHAT IS THE FORMULA FOR PROFIT MARGIN?
(Sales - cost of sales)/Sales or Net Income/Sales
Keep this simple, take your company’s total annual sales revenue and subtract your costs (DM, DL, & OH). Take that number and divide it by your total annual sales revenue. So, how do you widen margins? Cut costs. Where do most of your costs come from? Direct material purchases. This is what they are majoring in. Why do you want to widen margins? To increase ROI (Return on Investment). ROI is PM multiplied by Asset Turnover Rate (ATR). What is ATR? Doing more with less (i.e., reducing inventory, getting customers to pay sooner, buying less expensive stuff…OUTSOURCING?). Details: lnkd.in/e9j33EQ #outsourcing #supplychain #cfo
More advice: scmtalent.com/podcast-sime-curkovic In This Episode: We speak with Sime Curkovic, a Professor of Operations and Sourcing Management at Western Michigan University. Sime talks about his start in supply chain along with how he got into becoming a supply chain instructor. He provides an in-depth dive into the hard skills and soft skills students need in order to best appeal to what employers are looking for. In particular, he shines a light the ability to use data analytics and make better and faster decisions using the cloud-based tools available today vs. trying to work with just color-coded Excel spreadsheets. He sees supply chain as a well rounded major with lots of upside. He also places high value on hands-on, experiential learning. Sime sees hybrid work as the future, but is concerned about totally remote positions that may not provide the best value out of talent. He also encourages students to look at the big picture of where work can develop you rather than simply chasing money. He places very high value on the ability to grow your networks. Sime closes by emphasizing how setting aside time for reading can greatly impact your career.
The new Western Michigan University - Haworth College of Business video series turned out great. Supply chain management student, Alexandra Henson says that attending WMU Haworth was one of the best decisions of her life. Hear from Alexandra. th-cam.com/video/qbG7AufdzKQ/w-d-xo.html Some 2022 WMU SCM student success stories… 1. Dylan Sing is a team player as a student athlete on the WMU men's soccer team & as a SCM major. lnkd.in/ggqPmMyw. 2. SCM student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit. lnkd.in/d5UEQVJV 3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in supply chain management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY 8. Jessy Mutombo: Going the extra mile. lnkd.in/gU_Mag6i 9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ 10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
More salary data…CIPS Procurement Salary Guide 2022 reveals a 7.4% avg salary increase & the avg salary for all procurement & SCM pros in North America was $111,278. FYI, CIPS has tons of global salary data at: lnkd.in/gxbTMSyx. Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr. Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year." Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7. SCM $ Information - lnkd.in/gn5jM9xt lnkd.in/gTBMP5dM lnkd.in/eQvfFMc lnkd.in/g7YamZCU 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 Placement success of WMU SCM Program - *Median salary was $60K-65K (10% of grads hired on w/ 1 auto OEM at $78K!). lnkd.in/gV4x6GWE Recently had former students leave their jobs because of $...After thousands of students, I would say the #1 reason my students change jobs is...their boss. Money becomes a factor when they can make >20% elsewhere (#2 on list below). lnkd.in/gtPvk_mx FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H lnkd.in/ghyTtVZM www.linkedin.com/posts/sime-curkovic-61617a115_74-avg-salary-increase-avg-salary-in-activity-7011781729321451520-gFt9? Sime (Sheema) Curkovic, Professor, Supply Chain Western Michigan University Sample Lectures: What is SCM? lnkd.in/e9j33EQ #salary #salaryguide2022 #salarynegotiation #supplychain
Check out #3! www.linkedin.com/posts/sime-curkovic-61617a115_rawmaterials-priceanalysis-supplychain-activity-6967892897564176384-c8Xl? Durables had a larger inflation contribution in the U.S. than in any other country in the OECD. “This strength in U.S. durable goods demand during the pandemic & recovery is unusual (hmmm)…Throughout most countries in the sample, consumers behaved as we would expect, cutting their spending on durable goods.” Hmmm. lnkd.in/gCg5vWut Inflation can occur when prices rise due to increases in production costs, such as raw materials and/or a surge in demand for products/services can cause inflation as consumers are willing to pay more for the product. In the Fall, we will be looking at raw material market data from multiple sources, we will visualize & analyze historical pricing scenarios, & do some simulating on planned purchases & what-if scenarios against forward price curves. It beats manually updating giant color coded excel spreadsheets. lnkd.in/ghjfe3gh lnkd.in/gMuhMNf6 lnkd.in/gQZ7HfWb Stay tuned for some white papers from the WMU SCM program: Some of our alumni are already testing and / or implementing this cloud based service called materialx Decision Support from N-Alpha that allows procurement organizations, finance, and all other organizations that are exposed to raw material pricing changes, stay on top of market pricing from multiple sources and proactively assess its impact on future raw material purchases. It is now also serving as the basis for addressing price indexing implementations (formulas, alerts, etc.) by champions in a few larger organizations. This tool is quick and easy to use to prepare for price negotiations with suppliers, and often returns its investment (which is minimal to begin with) rapidly. This service also allows organizations to replace multiple spreadsheets and email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions and what led to them, and capturing organizational knowledge. Do you think Price Analysis become a lost art? Aside from the precious metals, every other commodity has managed double-digit increases. See: lnkd.in/g-Np6BnA What happened to Strategic Cost Management? (I need to teach this way better).
I have asked a lot of SCM managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., CME, COMEX, etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process. What are buyers to do? Procurement organizations need processes and “tools” to mitigate and negotiate on these requests in a strategic, data-driven manner (and we/I need to do a better job of teaching it).
I used to think these salary increases were impressive, but then I saw inflation. Salaries per DC Velocity: 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4 www.linkedin.com/posts/sime-curkovic-61617a115_2021-vs-2020-vs-2019-activity-6974325696328327168-xn2k? From ISM: 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. Had 2 former students this week leave their jobs because of $...After thousands of students, I would say the #1 reason my students change jobs is...their boss. Money becomes a factor when they can make >20% elsewhere (#2 on list below). lnkd.in/gtPvk_mx FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H lnkd.in/ghyTtVZM People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year." Salaries per ASCM $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7. SCM $ Information - lnkd.in/gn5jM9xt lnkd.in/gTBMP5dM lnkd.in/eQvfFMc lnkd.in/g7YamZCU 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 Placement success of ISM Program - *Median salary was $60K-65K (10% of grads hired on w/ 1 auto OEM at $78K!). lnkd.in/gV4x6GWE Dr. Sime (Sheema) Curkovic, Ph.D., Professor, Supply Chain Western Michigan University Sample Lectures: What is SCM? lnkd.in/e9j33EQ Follow: lnkd.in/gejqpRrP #salary #salaryguide2022 #salarynegotiation #supplychain
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. WSJ: lnkd.in/gMy3nwS2. The U.S. supply chain accounts for 37% of domestic jobs: 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? lnkd.in/gka9Qqmg Great read: lnkd.in/gCiYgwS2 - "Salaries in SCM are going up & avg $10K-20K higher than entry-level positions in other fields." SCM, quickest way to six figures- lnkd.in/guSURWFF. Negotiate a higher starting salary? lnkd.in/gMJYNJkh. Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ "Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk …only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable. At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh Another study: Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH From me: if you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat dubious and suspect. At the undergraduate level, pay less attention to the brand and reputation of the school, and pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.). #college
Interviewing tips. If you missed it, this is cool (I think)…Google's "Interview Warmup" asks practice job interview questions, then gives feedback on your spoken answers. If you can’t practice w/ another human for an upcoming job interview, Google has a new solution: Talk to its computer. www.linkedin.com/posts/sime-curkovic-61617a115_google-has-a-new-job-interview-practice-tool-activity-6977773719796547584-qn0w? Also worth noting: @LinkedIn has a similar feature where you can practice by recording an answer to an interview question and 1) get immediate AI feedback, or 2) send it to someone in your network for personal feedback. lnkd.in/d8YGspvf Get Instant AI Feedback to Improve Your Interview Answers Also, I have soooo many students asking about STAR job interviews & online robots…lnkd.in/ePzz3NG and lnkd.in/eZgTxWc STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR. Star Method: Tell me of a time when you had to work within a group where the members did not get along? How did you handle the situation? More help: lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Help w/ online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q Note, it is my understanding that these robot interviews are simply being used to weed out students. Also, that does not mean there is anything wrong w/ you if you do not get a face to face and/or onsite interview with a hiring manager. These robot interviews often simply are trying to develop a psychological profile of you & hence the weird questions. Some of these questions might be: what was the first thing you did this morning? Or what would you do if you saw someone bleeding heavily at work? The companies that use these might be trying to see if their corporate culture is a good fit for your profile. So, do not take the results personally, but learn as much as you can & get better at them (because they are not going away).The WMU website below is actually a very good link for that purpose. WMU has a service through Big Interview that has students get real life practice interview that get recorded & submitted. (I believe this is similar to Hirevue). Students can practice with Big Interview & come talk to HCOB advisors. lnkd.in/eKBDsMq How to prep for virtual career fairs: lnkd.in/evKd-VzQ lnkd.in/eNfUzksJ
Interviewing tools: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of ideas. A Top Business School (take a look at the list): lnkd.in/dn9-BCg Being job ready… lnkd.in/ed-ZfanD What do SCM internships pay? lnkd.in/e8pfXtC Delay graduation for experience? lnkd.in/ewKu7b_X 93% of WMU grads are employed or continuing education. lnkd.in/gabdesWa Sample Lectures: lnkd.in/e9j33EQ Follow: lnkd.in/gejqpRrP #careerguide #interviewing #interviewtips #careeradvice
From a student today: “Sorry that I was a little late on my HW. My inbox is flooded with emails, and I didn't see this. My apologies.” Note, never tell your boss this, especially if you shut down an OEM customer that will charge you $22K/minute. HEY College Students: Do not begin an email message with “Hey” & always finish it with “Thank you.” Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s way more). Will Email Stand The Test Of Time? lnkd.in/gz9NTye2 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.
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 req'd 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 2023 & 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/Action Verbs. lnkd.in/ea6gV-K Thoughts on resumes: lnkd.in/gxEy9VkH lnkd.in/gCgi72kX lnkd.in/gKV5JYhR Do not underestimate the power of a professional email signature. It might be the first impression you create! lnkd.in/ge9nGrjx lnkd.in/evaNVnbv #resume #career #supplychain
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ. Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt www.visualcapitalist.com/cp/charted-most-popular-u-s-undergraduate-degrees-2011-2021/? 90% of 2023 graduates think college is really worth it. Here’s why they’re right-and politicians and pundits are wrong: lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. Free: All Combined Links and Supply Chain Salary Reports lnkd.in/gtffWe55
Should current students negotiate an INTERNSHIP offer? lnkd.in/gpBm_m84. How much does a supply chain management internship make? The average salary for a supply chain management internship in the United States is $38,089. Supply chain management internship salaries typically range between $29,000 and $49,000 a year. The average hourly rate for supply chain management interns is $18.31 per hour. Note, last year the numbers were higher: 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). 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 & lnkd.in/gMy3nwS2. WMU supply chain grads have a median wage range of...$65-$75K. lnkd.in/dkGr4_uX. Good ROI? Thousands of SCM internships currently posted - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE. Perhaps delay graduation for work experience & stay specialized... lnkd.in/gdr7f9wb The U.S. supply chain accounts for 37% of domestic jobs: Harvard Business Review. lnkd.in/gPqvNwG5 lnkd.in/gbV_aMT7 Per Fortune, “Over their lifetime, an MBA grad can expect to earn $3 million more than someone w/ only a bachelor’s degree, according to GMAC.” lnkd.in/gka9Qqmg lnkd.in/gEjXPQG5 lnkd.in/gKhXe8tM lnkd.in/gMd2vC2T Great read: lnkd.in/gCiYgwS2 - "Salaries in SCM are going up & avg $10K-20K higher than entry-level positions in other fields." lnkd.in/guSURWFF. Negotiate a higher starting salary? lnkd.in/gMJYNJkh. Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ "Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk …only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable. At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh Another study: Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH Thank you: NeoMam Studios Featured Creator Article/Editing: · Pallavi Rao #college #supplychain #internships
#9 caught me off guard (monitoring employee emails?). Data collection is expanding. "Gartner analysis shows that 16% of employers are more frequently using technologies to monitor their employees through methods such as virtual clocking in and out, tracking work computer usage, and monitoring employee emails or internal communications/chat. While some companies track productivity, others monitor employee engagement and well-being to better understand employee experience.” Hmmm. www.linkedin.com/posts/sime-curkovic-61617a115_supplychain-leadership-supplychainmanagement-activity-6998604191367663617-f3dt? For more details from Gartner: gtnr.it/3zQI8if Kind of related: Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s probably way more). Will Email Stand The Test Of Time? lnkd.in/gvWjtr-W Why are Americans quitting their jobs? lnkd.in/gtPvk_mx 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. 10 Most Important Leadership Skills For The 21st Century Workplace (And How To Develop Them): lnkd.in/gmJ_GG6H FYI: You can major in LEADERSHIP AND BUSINESS STRATEGY at WMU (but you have to have another major also, you cannot just major in Leadership per se). lnkd.in/e5JUSye Professor (no Dr. allowed) Sime (Sheema) Curkovic, Supply Chain Western Michigan University Sample Lectures: What is SCM? lnkd.in/dSkXQSGY #supplychain #leadership #supplychainmanagement #careeradvice
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. Watch these major stories on WMU Haworth's major students. lnkd.in/dHhA8iEX Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7 WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major: lnkd.in/g3CZBrM7 Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples: WMU named in Princeton Review's 2022 'best business schools' lnkd.in/gnRvmJwD Accounting *Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs. lnkd.in/esW6ZuD lnkd.in/eN5wF6b Supply Chain Management *Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF Food & Consumer Package Goods Mktg *Has earned certification for its category management coursework from the national Category Management Association lnkd.in/eTjBRP9 Sales & Business Mktg *Nationally ranked as the best university sales program since 2007 lnkd.in/etcppYi Digital Mktg & eCommerce *One of only a handful of its kind in the nation. wmich.edu/dme Advertising & Promotion *Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals. lnkd.in/ecR2pxu Entrepreneurship lnkd.in/emeTCTJ *Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies. Human Resource Mgmt *One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6 Leadership & Business Strategy *We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses. lnkd.in/e5JUSye Military Science & Leadership *Thank you for your service to our country! wmich.edu/rotc Finance & Commercial Law *Business law, finance & personal financial planning wmich.edu/finance Business Information Systems *Business analytics, Computer information systems, Cybersecurity lnkd.in/evSdSqU GRADUATE PROGRAMS *Princeton Review: one of the best places to earn a Master of Business Administration degree. #college #career #major #business
Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that. www.linkedin.com/posts/sime-curkovic-61617a115_this-college-professor-spills-6-secrets-that-activity-6983016132056158210-xiW0? I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergraduate level. Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ "Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk …only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable. At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh Another study: Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH 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 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 #supplychain #collegesanduniversities #collegestudents #supplychainmanagement #careeradvice
Students: Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3. Prepping for a job interview? Here's how to answer 'What is my biggest weakness?' Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gMtdr92u. hashtag#college hashtag#supplychain hashtag#internships hashtag#salary
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75K. Watch these "major" stories on WMU Haworth's students. lnkd.in/dHhA8iEX. Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys. FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7. WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major: lnkd.in/g3CZBrM7 Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples: WMU named in Princeton Review's 2022 'best business schools' lnkd.in/gnRvmJwD Accounting *Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs. lnkd.in/esW6ZuD lnkd.in/eN5wF6b Supply Chain Management *Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF Food & Consumer Package Goods Mktg *Has earned certification for its category management coursework from the national Category Management Association lnkd.in/eTjBRP9 Sales & Business Mktg *Nationally ranked as the best university sales program since 2007 lnkd.in/etcppYi Digital Mktg & eCommerce *One of only a handful of its kind in the nation. wmich.edu/dme Advertising & Promotion *Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals. lnkd.in/ecR2pxu Entrepreneurship lnkd.in/emeTCTJ *Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies. Human Resource Mgmt *One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6 Leadership & Business Strategy *We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses. lnkd.in/e5JUSye Military Science & Leadership *Thank you for your service to our country! wmich.edu/rotc Finance & Commercial Law *Business law, finance & personal financial planning wmich.edu/finance Business Information Systems *Business analytics, Computer information systems, Cybersecurity lnkd.in/evSdSqU GRADUATE PROGRAMS *Princeton Review: one of the best places to earn a Master of Business Administration degree. #college #career #major #business
“Half our member respondents (50%) said they would take a “Data Analytics” class to continue their growth as supply chain leaders. Second on the list was taking a “Finance” class (33%).” lnkd.in/eEEVhWEX. “Knowledge workers were the hardest positions to fill. With the explosion of data in supply chains and the richness of that data, many companies are starting to understand the value of that information. This is causing tremendous demand for people to analyze the data, and companies aren’t able to fill those roles.” lnkd.in/eGp6xXJG. Do not be a victim of technology. You could make the case that every Business major should minor in Data Analytics. These skill sets would perhaps include: lnkd.in/dQABdsXc Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). lnkd.in/dtqV-HqE. Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical. lnkd.in/gBPZJsVq lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT. hashtag#supplychain hashtag#finance hashtag#bigdata hashtag#cfo hashtag#dataanalytics
Take this one with a grain of salt, notice #6: Supply Chain Manager… www.studyinternational.com/news/highest-paying-jobs-without-degree/ · Average earning potential: US$108,141 per year “Supply chain or logistics managers have never been in greater demand than after the COVID-19 pandemic…As the supply chain industry expands, it offers you great potential to progress in your career…While studying for a degree in supply chain management can help you learn more about the industry, you can start working at an entry-level as a supply chain administrator…As you work your way up management, consider completing professional development courses from the global leader in supply chain management, the Association for Supply Chain Management.”
Also from Indeed…Best Entry Level Jobs With and Without Degree Requirements: lnkd.in/gX8p-fKP. lnkd.in/gjhtECnF "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ. Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt 90% of 2023 graduates think college is really worth it. Here’s why they’re right-and politicians and pundits are wrong: lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. #supplychain #careeradvice #salary
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
Here come the exploding job offers...Some employers are giving students a few days to make decisions on full time job offers several months before graduation. One student asked if that was ethical or even legal. Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5. My students are coming back to school from their summer internships and many of them received full time offers from their internship & many will accept (5-10 months ahead of graduation!).
Note, most companies will only give them 1-2 weeks (or even only a few days!) to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want). lnkd.in/gmFMJfbC.
Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $60K-$70K range & many successfully negotiate up to $65K-$80K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gMJYNJkh
Many of our grads begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5.
In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number.
Advantages of starting career in job rotation for students: · Rapidly learn about your industry of interest · Work on a diverse set of projects · Find a mentor & learn about your potential career trajectory · See what makes the company great
Also, students are getting lots of job offers when they play the job market...In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? lnkd.in/e85beQ2 Amongst those grads that have reneged on a job offer, 64% claimed that they did this because they didn’t know how to decline. 22% said they did this because they received a better offer elsewhere, while just 9% changed their mind (Milkround). lnkd.in/gZiiskjD.
The Harvard advice: lnkd.in/ghEYr3Qw lnkd.in/gc4Kd_SE
Ideas from Yale: lnkd.in/gggJFADW lnkd.in/gxkjy3sm
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.
Get ready for the next disruption in your supply chain: no succession planning. *60% of the US workforce is employed by a family-owned business.*78% of all new jobs in the US are created by family-owned businesses. *30% of family businesses make it through the 2nd generation, 10-15% through the 3rd, & 3-5% through the 4th. lnkd.in/gJ5T8Tzc www.linkedin.com/posts/sime-curkovic-61617a115_top-10-family-business-trends-of-2022-conway-activity-6998248095301980160-mcNn? __ I meet a lot of people involved in family owned businesses & they often ask me for material on succession. I reached out to my colleagues in this space & here is some of their recommended reading. These are my favorites on the topic of family business in general. There are surprisingly few "great" books on family business & succession. Many show up on Amazon, but I have found them to mostly repeat the basics that I think are laid out well in the following 3 books.
1. Generation to Generation: Life Cycles of the Family Business (1997), Kevin E. Gersick, John A. Davis, Marion McCollom Hampton, & Ivan Lansberg, Harvard Business School Press - This book is old & you could probably get it for about $5 on Amazon, but it is my FAVORITE! I think it explains things more clearly than any more recently published book & has the most easily explained tools to implement a successful generational transfer.
2. Family Business (4th edition - other editions might be cheaper and are similar) 2014, Ernesto J. Poza and Mary S. Daugherty, South-Western Cengage Learning. - This is what I use in my family business class. Poza is the Godfather of teaching family business classes and research.
3. Family Business on the Couch: A Psychological Perspective (2007), Manfred F.R. Kets de Vries and Randel S. Carlock with Elizabeth Florent-Treacy, John Wiley and Sons. - There are many psychological aspects of family business and succession this presents many models for how that might look for different families. In fact, many family business consultants are actually trained as family therapists!
Academic journal articles on the family business activities: Family Business Review Journal. lnkd.in/gnrbtZ8e www.ffi.org/
FamilyBusiness.org site lnkd.in/g3XfNhA3 lnkd.in/gwDpAkDh Other sites: www.gvsu.edu/fobi/ lnkd.in/gJcvpX7s lnkd.in/ghPmdXBW lnkd.in/gzaWWPcs lnkd.in/g9mzk5C4 lnkd.in/gtZnBMNw lnkd.in/g2yyrRWj lnkd.in/gEJVwygY lnkd.in/gwihnpw4 lnkd.in/gN979MgY lnkd.in/gfzjsGp5 lnkd.in/g_aE_D8u lnkd.in/g_muMygd lnkd.in/g7RpBSfZ
Hope these ideas help! Many of the books also talk about non-family members in top mgmt roles how to motivate them & then help with the transition of power from them to the next generation. #familyownedbusiness #familybusiness #successionplanning #careeradvice
You could make the case that many business grads should have some of these skills…We studied the top skills in analytics jobs & Python was among the top. The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools. Is Python a must-have skill in the supply chain? 200K vacant jobs on LinkedIn say yes. If you want to specialize in data & become a Supply Chain Analyst (25K jobs on LI) / SCM Data Scientist (500K jobs on LI - that's all). www.linkedin.com/posts/sime-curkovic-61617a115_machinelearning-deeplearning-datascience-activity-7036306188229099520-b7rb? A while back, I made these points about our CIS 2650 class (Programming for Data Analytics) and our Business Data Analytics minor in general. We think these points still largely apply. CIS 2650 is not just a Python class, but instead a Python class for analytics. There is a difference there. In a traditional Python class, people teach Python straight for the whole semester with so much of syntax, data structure, software development, etc. That type of class is mostly designed for CIS and CS. What we do is different. It is Python in a popular analytics platform (more technically speaking, it is Python in Jupyter, which is an analytics platform that data science and business analytics programs do). · We studied the top skills in analytics jobs & Python was among the top skills. · The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools. · Tableau & Power BI recently added Python or Python+Jupyter because certain Python analytics & visualization are not available in Tableau & Power BI. Using them together makes it a powerful analytics solution (e.g., the ability to transform visualization into implementable actions). ·All data scientists stress the importance of Python in analytics programs. Note, “data scientist” is one of the fastest growing career paths with escalating salaries because not enough people are good at this stuff. ·Python are “R” are both number one & two in analytics, but Python is easier to learn compared to R. ·Past experience in our SCM program (3+ semesters of experience in CIS 2650) shows that non-technical students (SCM, marketing, accounting, etc.) are able to handle the content that we designed. ·Python + Jupyter (or its variant) are used in Big Data (Hadoop, Microsoft Azure, Amazon AWS, etc.). It can also be used with/on SAP HANA, IoT, AI, Blockchain, and smart contracts to implement supply chain visibility, and other SC related solutions, etc. We believe the above points are still valid. Here is some evidence: ·We studied the top skills in analytics jobs & Python was among the top skills. ·Python is among the top skills for data analysts (Skill number 4 in the list): lnkd.in/e6r8_KBy ·lnkd.in/e7xyUYGs Will tech replace SCM jobs? lnkd.in/eu7ANq6 See comments. #python #dataanalytics
Will AI really kill the Business Data Analytics tools we teach? Would you trust the developer who built your software with a 3rd party code generation tool? Maybe. We are not going to stop teaching tools such as Excel in very sophisticated ways. All of our supply chain majors are required to take: CIS 2640 Predictive Data Analytics (Excel on steroids): I get this kind of feedback often…lnkd.in/dQABdsXc. However, our analytics faculty are on top of this AI wave. They have already built an AI course in our business college (CIS 5550) to cover all kinds of AI for business applications. The course is designed for non-technical students (a perfect fit for SCM types). After this course, AI embedded modules in existing courses will be added.
So, Business Analytics + AI = more SCM success.
Per discussions w/ our CIS faculty, we all agree there is nothing wrong w/ using these code generators as long as you understand the generated code & know how to fix it when needed. Rarely will the generated code be enough to suit your needs. The more realistic scenario is to use the tool to generate the base code & modify it manually for the intended problems. Many companies PROBABLY do not want their employees to use AI for any calculations like this. So, in all of the above scenarios, skills in our Adv Excel class (and all of our Business Data Analytics classes) are still relevant. Skills such as: 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, many of our SCM majors are BA minors. CIS courses in our BA minor: lnkd.in/eqiqSMRb. Also, WMU offers new course on the intersection of AI and writing: lnkd.in/g476QVTS. As AI continues to grow in importance, more companies and potentially universities will likely establish executive roles such as VP of AI to oversee AI strategies...In the meantime, WMU is bringing together AI and the art of writing: “One of the key aspects of AI is the interaction between human intelligence & the platform-humans assign writing tasks to the technology & the technology generates text. This course is really a new take, with evolving technology, on a very old interaction: speakers and listeners, writers & readers,” says Gogan. How will AI impact your future? lnkd.in/g4cci-tA AI @ WMU: A Deep Dive into the Resources: lnkd.in/g2EZvtPz If you’re ready to explore how writing can be used to understand the boundaries between human & AI and learn how you can leverage these emerging technologies to your benefit, this course is for you. lnkd.in/g4cci-tA. #ai #python #dataanalytics #datascience #supplychain #artificialintelligence
“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 www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2022/08/12/where-cpos-can-aim-ai-prioritized-procurement-use-cases/?sh=596b60002296 From Dr. Rob Handfield: “These [semiautonomous] processes will draw on supplier rating systems, meeting notes, customer input, social media, legal filings, news feeds, employee and customer data, economic indicators, weather data, and multiple forms of data that can be mined to provide alerts that trigger procurement actions and supplier management activities.” From Sime: AI will likely have the greatest impact on SCM through the 2020s. However, one thing often not mentioned is the attitude of the hiring managers. In talking w/ a colleague, we both agreed that many hiring managers do not have a full understanding of the AI skill sets associated w/ our 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 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 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. 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 at WMU: lnkd.in/gJetuSjB #dataanalytics
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/
supplychaindigital.com/operations/top-10-supply-chain-schools Top 10: Supply Chain Schools Tough to argue with this list though, just pay attention to ROI. Should You Give Up Your Salary and Go to Grad School? Well, that darn MBA degree still has a great ROI...“Over their lifetime, an MBA grad can expect to earn $3M more than someone w/ only a bachelor’s.” Great ROI!?...At about 98% of universities that offer MBAs, grads typically made more money 2 years out of school than they had borrowed. That stands in contrast to law schools, where roughly 6% of programs had grads w/ higher median earnings than debt in the same time frame. Note, the MBA route requires careful thought. See: lnkd.in/gGAx4QyK.
Five reasons why CEOs need to drive supply chain excellence from the top: “Some of the world’s leading CEOs today emerged from supply chain roles. Many have carried over their relentless focus on supply chain excellence into their leadership approach, proving to be invaluable in recent times….A deep understanding of supply chain issues is now a critical skill set for any C-suite leader.” lnkd.in/gVXyzaEn.
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought… lnkd.in/ganuUD6r Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical…lnkd.in/gBPZJsVq. lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT.
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.
It's not too late. > 7,000 open summer internships in MI, - lnkd.in/gVsHEZxz & > 20,000+ nationally - lnkd.in/gRKmr7QE. WMU supply chain grads have a median wage range of...$65-$75K. lnkd.in/dkGr4_uX. Offers are coming in…Should 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. 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). 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 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. Also, most employers will not even look at your resume if it looks like a lazy effort. Aesthetics matter! Virtual career fairs: lnkd.in/evKd-VzQ Business externship? lnkd.in/e9aeewPa 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 interviews & online robots… lnkd.in/ePzz3NG lnkd.in/eZgTxWc lnkd.in/eyCv4x5 lnkd.in/eaxVjpK Myers-Briggs. lnkd.in/ehj3ysR How to build your brand: lnkd.in/dSAA6wF Similar to MBTI: lnkd.in/ey4TEUY lnkd.in/exNDhSv Help w/ online interviews...lnkd.in/eKBDsMq Practice before it matters...lnkd.in/ekaBK5Q Resume advice... lnkd.in/eWen96qj lnkd.in/e7utipBi lnkd.in/eVEHgvk6 Internships, salary data, etc. lnkd.in/eNfUzksJ 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
“Is the Chip Shortage Over? That Depends…reports seem to indicate that now there is actually too much supply.” Some serious bullwhip effect going on out there. What is the bullwhip effect? lnkd.in/gkwgZs7d. If you are bored...A great watch below on the Bullwhip Effect: lnkd.in/gqy8KFWv. Also, another good watch, but longer…This WSJ documentary offers a GREAT explanation on the supply chain. lnkd.in/giuVkH-c. Or, if you are really bored: Do I think students should negotiate an INTERNSHIP or FULL-TIME offer (i.e., a higher salary)? Yes, since some orgs are offering students 20-30% below market value (but only if you know how to negotiate). lnkd.in/gSzFhGvb There are already > 22,000 SCM 2023 internships posted & > 60,000 business related internships. lnkd.in/ge2JFUmk Yes, it is now time to start applying & interviewing for summer internships. Companies get budgets for internships approved months ahead of time & they often recruit nationally for the best talent. Some want to get this wrapped up by the end of the year, but you have to start looking now. lnkd.in/gZtrqGVZ FREE resources for Info on Suppliers, Customers, & Prospects. A former student working in B2B industrial sales, suggested the following list of free websites as a resource for research on competitors, customer supply chains, & prospect contact info. lnkd.in/g2yYPU8t Industry Certifications & Associations for Various Business 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 ($$$). lnkd.in/gVbQV2q7 I have asked a lot of SCM managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., CME, COMEX, etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process. lnkd.in/gxqx3srw #supplychain
From NACE: more than 75% of employers who responded to our survey said the job market for Class of 2024 grads is either good or excellent. lnkd.in/gMbUEncX. “Employers still overwhelming value college degrees, with respondents saying that nearly 70% of their entry-level jobs require a degree, & even more said college/university-based certificates have the highest quality compared to those offered by industry, company, & online providers.” ow.ly/Btqi50Q1xja. Students also have overwhelmingly positive reactions to their college experience, according to NACE research. In fact, more than 90% of respondents to the 2023 NACE Student Survey said that if they had the chance to do it again, they’d opt to pursue a college education...more than half of respondents say they believe their time in college prepared them well or very well for entering the workforce. lnkd.in/gX8wj2j7 Walmart Plans To Remove College Degree Requirements From Hundreds Of Corp Job Descriptions: lnkd.in/gyNgrqFU. What does a "material" reduction mean? Data?...“
Walz removes 4-year degree requirement for most state gov jobs: lnkd.in/gAB3MWpT.
No degree? No problem: 10 highest-paying jobs without degree requirements: Take this one with a grain of salt, notice #6: Supply Chain Manager...lnkd.in/g_k6q9gv. · Avg earning potential: US$108,141 per year
Also from Indeed…Best Entry Level Jobs With and Without Degree Requirements: lnkd.in/gX8p-fKP. lnkd.in/gjhtECnF "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
Ranked: Median Student Debt for a U.S. College Degree: lnkd.in/g_Eaq7zu
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021): lnkd.in/gWTxiFch
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt
90% of 2023 graduates think college is really worth it. lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
“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.” The unemployment rate for Americans w/ a college degree has dropped to 1.9%. www.linkedin.com/posts/sime-curkovic-61617a115_the-top-10-most-regretted-college-majors-activity-6999711613536673792-f-29? 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 3.6% (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 #supplychain #career
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 www.linkedin.com/posts/sime-curkovic-61617a115_certified-in-logistics-transportation-activity-6995710259143073792-P7uO? I would highly encourage you to join orgs related to what you are majoring in. Send the message to employers that you plan on being an engaged member of your discipline. Also, these orgs have certs which can be used to externally validate you as a subject matter expert. Send the message to employers that you are aware of these certs & these certs are a part of your career goals. Further, all these SCM orgs have monthly local chapter meetings w/ guest speakers that you can attend as a student. It is a great way to learn & network. I have had several students attend these mtgs & managers asked for a copy of their resume because these students showed so much initiative. You will also have access to their websites which has job postings & lots of SCM research that will help with your classes. Lastly, they will mail you magazines that tell you what is happening in your field so you can stay current.
My colleagues helped me put this list together for my non-supply chain majors. Industry Certifications & Associations for Various Business Majors: lnkd.in/gVbQV2q7 Here is one of the most popular orgs related to your major (especially if you go into procurement, though all 3 orgs have become very well rounded)...
Institute of Supply Mgmt (used to be National Association of Purchasing Mgmt)-$35/year lnkd.in/ex3NXgdM lnkd.in/erPSEX_J
Here is another degree related org that you can join ($40) to network & look for job opportunities. You will be competing against other students from other schools that have these on their resume. Council of Supply Chain Mgmt Professionals (used to be the Council of Logistics Mgmt) lnkd.in/emHHiJAY One more high profile club for SCM students & managers (free for students): The Association for Supply Chain Mgmt (used to be APICS, the Association for Operations Mgmt) www.ascm.org/ lnkd.in/eC3sfQxK lnkd.in/ef8X2xPK Certified in Logistics, Transportation & Distribution (CLTD): lnkd.in/dt3EteBd
Also, resume advice... lnkd.in/eWen96qj lnkd.in/e7utipBi lnkd.in/eVEHgvk6 FYI, other SCM orgs: lnkd.in/ec4fYYSY lnkd.in/ec4fYYSY www.cips.org/usa/ werc.org/ www.lean.org/ isssp.org/ www.iwla.com/ www.rla.org/ www.nitl.org/ www.mhi.org/ lnkd.in/eFpUvsgC ibf.org/ www.nam.org/ www.ame.org/ lnkd.in/efBdJkBi www.trucking.org/ $$: lnkd.in/eBd-cRr lnkd.in/enTTEt_m If you have an interview, get ready for STAR & robots… lnkd.in/ePzz3NG Major in MKGT & SCM? lnkd.in/eRWMVP6 #supplychain #careeradvice
FYI: There is this new free thing called ChatGPT, chat.openai.com/chat It was founded by Elon Musk (big surprise), and was developed using open source AI. Basically, it is like doing Google searches on steroids. You type in your needs and it gives you back written responses as though a human did all of the research for you. It saves me from having to do 5-20 Google searches and when I use Google, I have to make sense out of it all and connect the dots. For me, ChatGPT will eventually make my need for Google searches obsolete. And that says a lot, because Google is the most used website on the planet (TH-cam is second and is owned by Google). For me, ChatGPT will help me do my job better, faster, and cheaper. Currently, it is free, but that will not last for long. I assume the game plan is to monetize this right around the time we all starting using it for almost everything. I just wanted to share this with you on the chance you did not know about it. If you are well versed with this new technology, I would be grateful for any feedback. It is like talking to a professor and asking questions and the professor has all the answers. Further, the professor provides you with a very well written response to your questions. Today, I asked it: "Can you pretend that you are a recruiter and ask me sample interview questions as I am a supply chain major?" The AI proceeded to ask me 10 brilliant questions... Certainly! Here are a few sample interview questions for a supply chain major: How do you stay up-to-date with the latest industry trends and developments in supply chain management? Can you provide an example of a time when you successfully managed a complex supply chain project from start to finish? How do you approach problem-solving in the supply chain? Can you provide an example of a difficult problem you had to solve and how you went about finding a solution? In your opinion, what are the key success factors for a successful supply chain operation? Can you describe a situation where you had to juggle multiple priorities and meet tight deadlines in the supply chain? How did you handle the pressure and meet the challenges? How do you ensure the accuracy and reliability of data in the supply chain? Can you provide an example of a time when you had to analyze and interpret large sets of data to make informed decisions? How do you build and maintain strong relationships with suppliers and partners in the supply chain? Can you provide an example of a time when you had to negotiate with a difficult supplier and how you were able to come to an agreement? How do you approach risk management in the supply chain? Can you provide an example of a time when you had to mitigate a risk in the supply chain and how you did it? How do you stay organized and manage your time effectively in the supply chain? Can you provide an example of a time when you had to juggle multiple tasks and projects at once and how you stayed on top of everything? 10. Can you describe a situation where you had to deal with a difficult customer or stakeholder in the supply chain and how you handled the situation? Thank you. Sime -- Dr. Sime (Sheema) Curkovic, Ph.D., Professor, Operations/Supply Chain, Lee Honors College Faculty Fellow Western Michigan University, Haworth College of Business Kalamazoo, MI 49008-5429 | 269.267.3093 | sime.curkovic@wmich.edu The Western Way: "Better, faster, cheaper" www.wmich.edu/supplychain WMU: #1 in MI for earnings by graduates Sample Lectures: What is SCM? wmich.edu/supplychain/academics/lectures www.youtube.com/@simecurkovic WMU...One of nation's best undergrad SCM programs (Gartner); 2nd in technology (SoftwareAdvice); 2nd in top global talent (SCM World) Vitae: wmich.edu/marketing/directory/curkovic Connect: www.linkedin.com/in/sime-curkovic-61617a115/ Follow: www.simecurkovic.com/
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
The WMU Supply Chain Graduate Certificate program is now up and accepting students. Information can be found here: lnkd.in/gcu8E2UN www.forbes.com/sites/wesleywhistle/2020/08/03/the-payoff-of-certificate-programs/?sh=1ae702163fbe 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. Organizations are seeking solutions to global supply chain challenges and risks that require expert tools. As a professional, you can develop your supply chain and strategic decision-making acumen with a graduate certificate in supply chain management. You'll elevate your expertise in strategic sourcing, transportation management, processes, and data analytics to improve decision making. Princeton Review names WMU a ‘best business school’ for an MBA: lnkd.in/gdqkRxMb.. Industry Certifications & Associations for Various Business Majors (for exhaustive list): lnkd.in/gVbQV2q7. Top SCM certifications: lnkd.in/gA38N97C. Free: All Combined Links and Supply Chain Salary Reports lnkd.in/gtffWe55 lnkd.in/g_mR74mr lnkd.in/gq84MRMj #education #supplychain #careeradvice #certification #logistics
“The last time the U.S. labor market was this strong was in 1969…Although manufacturing hasn’t seen the highest gains, the sector has one of the lowest unemployment rates across job sectors, at 2.4%. Yet the industry faces an acute labor shortage-if every skilled unemployed worker were to fill open job vacancies, a third of jobs in durable manufacturing would remain open.” www.linkedin.com/posts/sime-curkovic-61617a115_visualized-the-state-of-the-us-labor-market-activity-7038877132286042112-BobS? __ The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. WMU supply chain grads from 2022 have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. lnkd.in/gwfAHdkW lnkd.in/gyRiv9_x Entry-Level Supply Chain Positions | Average Salary: $69,000 Mid-Level Supply Chain Positions | Average Salary: $115,000 Senior-Level Supply Chain Positions | Average Salary: $260,000 Also: Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000 Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000 Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000 Source: lnkd.in/ga8Azij7. Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5 Logistician, $74,750 Logistics analyst, $58,713 Supply chain planner, $64,844 Purchasing agent, $69,600 Purchasing manager, $121,110 Logistics manager, $114,670 Distribution manager, $94,775 Operations manager, $100,780 Business & SCM competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%. Top two: Microsoft Office/productivity tools Advanced Microsoft Excel Technical skills Among the top and fastest-growing technical skills are: Data science Supply chain knowledge Supply chain management Project management Many of our SCM students get a Business Analytics minor, what does that mean? See: 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly). lnkd.in/gxRayD3j #supplychain #datascience #dataanalytics #college
My students asked for a summer reading list (if they would just read the syllabus). People that read a lot make more $ (2.3x more?!). Both Gates & Buffett make a point to read every day. lnkd.in/gd-J5x5N. Why Reading Business Books May Actually Help You Get More Money: lnkd.in/gum3EzgR. www.linkedin.com/posts/sime-curkovic-61617a115_7-must-read-business-books-activity-7077620029189459969-QBT2? Reading List: A great book read for CFO types that want to understand SCM types (or the other way around?): "Supply Chain Metrics that Matter"...The book links corporate financials to SCM. This video shows 7 business books recommended by Stanford professors: lnkd.in/g5EGVe_X Other reads for SCM leaders: The New Leader's 100-Day Action Plan: How to Take Charge, Build or Merge Your Team, and Get Immediate Results- by George B. Bradt, Jayme A. Check, John A. Lawler
5 Levels of Leadership or 21 Irrefutable Laws of Leadership by John Maxwell. Both are mandatory readings for many F500 SCM teams.
Many are also proponents of the “The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter, Updated and Expanded”, by Michael D. Watkins
This was required reading in Procurement at a F500 org: Switch: How to Change Things When Change Is Hard by the Heath Brothers
Great feedback on these 3:
Supply Chain Excellence by Peter Bolstorff and Robert Rosenbaum The Lean Extended Enterprise by Terence Burton & Steven Boeder The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt. Suggested student reads: - Designing and Managing the Supply Chain by David Simchi-Levi, Philip Kaminsky and Edith Simchi-Levi - Essentials of Supply Chain Management by Michael H. Hugos - Logistics and Supply Chain Management by Martin Christopher - Logistics Management and Strategy: Competing through the Supply Chain by Alan Harrison and Remko Van Hoek - Manufacturing Planning and Control for Supply Chain Management F. Robert Jacobs, William Berry, D. Clay Whybark and Thomas Vollmann - Purchasing and Supply Chain Management by Robert Monczka, Robert Handfield, Larry Giunipero and James Patterson - Purchasing and Supply Chain Management: Analysis, Strategy, Planning and Practice by Arjan J. Van Weele - Supply Chain Logistics Management by Donald Bowersox, David Closs and M. Bixby Cooper - Supply Chain Management: Strategy, Planning, and Operation by Sunil Chopra and Peter Meindl - The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage by Yossi Sheffi Also: lnkd.in/gb9nDnju lnkd.in/gjBhpb9M lnkd.in/guxyh9Ny The classics… HOW TO WOW: FRANCES COLEJONES THE EXCEPTIONAL PRESENTER: TIMOTHY J KOEGEL THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE: STEPHEN COVEY GOOD TO GREAT: JIM COLLINS THE PRESENT: SPENCER JOHNSON FISH: STEPHEN LUNDIN THE SERVANT: JAMES C HUNTER According to a number of studies, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year.
According to another study in the Economic Journal, those who had over 10 non-school books as a kid earned an average of 21% more than those who did not. Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas & strategies they can use to help their careers (e.g., developing core competencies), their teams & their orgs. Where can you find a stream of new & practical ideas to help drive your success? The easiest & most underutilized method is to learn directly from the world's business experts (e.g., HBR). Many of them have written great books that offer their proven strategies & winning ideas - ideas & strategies that took years to develop & perfect. This information is just sitting there for the taking - ready to propel you to the next level.
A recent study showed that 74.9% of all managers understand they need to read more to stay ahead of the curve, but they simply don't have the time. & this troubling reality is directly impacting their incomes - not to mention their careers! Western offers new course on the intersection of artificial intelligence and writing: lnkd.in/g476QVTS. #supplychain #readinglist
Notice how a lot of these jobs are in the supply chain. "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." www.visualcapitalist.com/sought-after-entry-level-jobs-of-2023/ The U.S. supply chain contains 37% of all jobs, employing 44 million people. See: The Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw. Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.” A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.” The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. Nice SCM salary report summary: lnkd.in/dTneTGgw. #supplychain #jobs #economy
A nice career guide from Harvard to help with resumes, interviewing, getting offers, etc. For more help, pasted below are links from Yale, MIT, & WMU (112 pages of ideas). 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/gCFxVvQQ hashtag#jobhunting hashtag#networking hashtag#interviewing hashtag#gradschool hashtag#mba
Some employers are giving students a few days to make decisions on full time job offers several months before graduation. One student asked if that was ethical or even legal. Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5. My students came back to school from their summer internships and many of them received full time offers from their internship & many will accept (5-10 months ahead of graduation!). www.linkedin.com/posts/sime-curkovic-61617a115_should-college-grads-negotiate-a-job-offer-activity-6990285259237965824-O2FI? Note, most companies will only give them 1-2 weeks (or even only a few days!) to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want). lnkd.in/gmFMJfbC Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60K-$70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gMJYNJkh Many of our grads begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5 In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number. Advantages of starting career in job rotation for students: · Rapidly learn about your industry of interest · Work on a diverse set of projects · Find a mentor & learn about your potential career trajectory · See what makes the company great Also, students are getting lots of job offers when they play the job market...In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? Reneging: Once you commit, quit! lnkd.in/e85beQ2 Amongst those grads that have reneged on a job offer, 64% claimed that they did this because they didn’t know how to decline. 22% said they did this because they received a better offer elsewhere, while just 9% changed their mind (Milkround). lnkd.in/gZiiskjD The Harvard advice: lnkd.in/ghEYr3Qw lnkd.in/gc4Kd_SE Ideas from Yale: lnkd.in/gggJFADW lnkd.in/gxkjy3sm #careeradvice #salarynegotiation #joboffer #supplychain #salaryguide2022
After a few thousand students, I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere (#2 on list below). FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H www.linkedin.com/posts/sime-curkovic-61617a115_why-are-americans-quitting-their-jobs-5-activity-6997166854179876864-xHc-? "Quiet quitters" make up at least 50% of the U.S. workforce -- probably more, Gallup finds. U.S. employee engagement took another step backward during the 2nd quarter 2022, w/ the proportion of engaged workers remaining at 32% but the proportion of actively disengaged increasing to 18%. The ratio of engaged to actively disengaged employees is now 1.8 to 1. lnkd.in/gb4WBKvf U.S. productivity posts biggest EVER drop in 2nd quarter 2022. This is a very complicated calculation, but it is very concerning. Has how we managed the last 2+ years caught up to us? This not only will make inflation harder to beat, it contributes to inflation.
Note, in the quarter after Sept. 11th, & during the Great Recession of 2007-09 & early in the pandemic, American productivity SOARED. Why? Because it’s what we do. Something is amiss in 2022. I think Leadership got us into this, & Leadership can get us out. For example, here are Four Ways to Energize a Post-Pandemic Workforce (which have largely been downplayed in my opinion): 1. Physical Safety Remains #1 2. Mental Health on the Mind 3. Time Matters Most-Even Above Pay 4. See Me, Hear Me Working Together To Get Back to Normal: lnkd.in/gRRntrQ6 Why are people quitting their jobs? Is there a LEADERSHIP void? I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere. From Gartner: If you want to develop and retain strong employees without compromising their health and well-being, Connector managers are your secret weapon. gtnr.it/3A1mDvc FYI: Our students can major in Leadership (lnkd.in/e5JUSye). It can actually be taught, practiced, & learned (you can get better at it). However, another major is also req’d in our program (you cannot just major in Leadership), make sense? Great posts & reads: Flowchart: Are You Working for a Toxic Boss? lnkd.in/ggp_NaTx
Why are Americans quitting their jobs? lnkd.in/gRN_tFm3 The five best lessons I’ve learned on leadership and career development lnkd.in/g2PaXqF9 The Great Resignation turns to the Great Regret as worker needs are not being met, expert says. lnkd.in/ggNH5YMY "Promotions are, in part, a function of who has the best relationship with the decider - if you're young, get to the office @smerconish @CNN": lnkd.in/diBcDBM4 Malcolm Gladwell says people must return to the office to regain sense of belonging’. lnkd.in/gaCbAzSj #leadership #careeradvice
Required reading for all SCM managers, faculty, & students? www.linkedin.com/posts/sime-curkovic-61617a115_recommendation-i-rebuild-production-innov-activity-7114216567277568000-fRHj? Also: “Updated for the first time since 2019-a roadmap that outlines key priorities and goals for federal investments in AI R&D.” lnkd.in/guejXmqK. White House Report on “supply chain resilience” (Warning: this is 250 pages)...lnkd.in/gqsfBkK4. And do not forget these other SCM reports: National strategy for ADVANCED MANUFACTURING lnkd.in/ggdQUi_u Exactly one year after President Biden signed Executive Order 14017 on America's Supply Chains, the White House unveiled its Plan to Revitalize American Manufacturing and Secure Critical Supply Chains and released six additional supply chain reports in the following areas: 1. The Department of Energy’s (DOE) report on the energy industrial base: lnkd.in/gKaj5nzd 2. The Department of Transportation’s (DOT) report on the transportation industrial base: lnkd.in/gRQxm4VA 3. The U.S. Department of Agriculture’s (USDA) report on the agricultural commodities and food products ecosystem: lnkd.in/gwsVSJHX 4. The Department of Health and Human Services’ (HHS) report on the public health and biological preparedness industrial base: lnkd.in/grNQ5W4y 5. The Department of Commerce (DOC) and Department of Homeland Security’s (DHS) report on the information and communications technology (ICT) industrial base: lnkd.in/gFUdjUNe 6. The Department of Defense’s (DOD) report on the defense industrial base: lnkd.in/gn_C5WQw Most of these 6 reports are under 100 pages. lnkd.in/g_dCDWNG
"…67% of logistics and supply chain professionals are earning more this year than they did in 2022." 2023 Logistics Salary Survey: Strong numbers, high demand...lnkd.in/g-MCCsfa. WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic. Source: lnkd.in/ga8Azij7. Entry-Level Supply Chain Positions | Avg Salary: $69,000 Mid-Level Supply Chain Positions | Avg: $115,000 Senior-Level Supply Chain Positions | Avg: $260,000 Also: Entry Level Mfg Jobs | Salary Range: $66,000 - $78,000 Mid-Level Mfg Jobs | Range: $110,000 - $143,000 Senior-Level Mfg Jobs | Range: $239,000 - $338,000 Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2. lnkd.in/gH3jSWKt The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5 Logistician, $74,750 Logistics analyst, $58,713 Supply chain planner, $64,844 Purchasing agent, $69,600 Purchasing manager, $121,110 Logistics manager, $114,670 Distribution manager, $94,775 Operations manager, $100,780 Free: All Combined Links and Supply Chain Salary Reports lnkd.in/gtffWe55 #supplychain #salary #data #bigdata
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation, according to Gallup-Purdue polls." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. …only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable. Another study: Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH. “…95% of grads of two-year, four-year, & grad programs are excited about their postgraduate plans, & nine of 10 said that college was worthwhile, they were happy w/ their choice of school & think they chose the right field of study.” See: lnkd.in/gyN2iwXN. Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession w/ them...lnkd.in/gv_vZ4k9. Pay attention to what matters most- not rankings!...especially at the undergrad level.
From me: if you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat dubious and suspect. At the undergraduate level, pay less attention to the brand and reputation of the school, and pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.). Employers: trust me, you can find world class student talent at the unranked schools that are every bit as good (and you should if they are regional). Aim towards 5+ core schools. Also, you will have less turnover if you stay a little regional. I meet these students all the time and they have sooo much to offer. Employers owe it to themselves to recruit the best talent from multiple schools. Yes, it requires more effort and expense, but it will keep your org fresh and current. I know of one org that exclusively recruits from only two schools and over time the weaknesses of those two schools became this org's weakness (they got behind on data analytics!). So predictable. A total of 439 graduates from WMU responded to the statement: "I had at least one instructor who made me excited about learning." For details: lnkd.in/g6k-6Ckj #college #collegestudents #businesseducation #careeradvice
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).
Young people who work remotely are 'probably not' going to become corporate CEOs, an NYU business professor says: lnkd.in/eeQ3MWGf. “More than 90% of college students who responded to NACE’s 2023 Student Survey say they prefer jobs with at least some time spent in person. This matches employer hiring trends, which show that only 9% of entry-level hires are fully remote.” ow.ly/MUsN50QC3b6 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.
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
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
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
A nice career guide from Harvard to help with resumes, interviewing, getting offers, etc. For more help, pasted below are links from Yale, MIT, & WMU (112 pages of ideas). 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. But meanwhile, most employers actually expect to negotiate salary - even for a first job - so they build that in. That means, if you don’t even try, you could be leaving money on the table!” Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. More from Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE & lnkd.in/gC44Baeb MIT: lnkd.in/g3xqeDyc. Western Michigan University: lnkd.in/gipsXEsK. This is a very good one from UNC Pembroke: lnkd.in/gJA3uub2 Kansas State: lnkd.in/gPNgpmKA. 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. Students: It is not too late to find a summer internship (not even close). OK, maybe a little close, but I have students that are interviewing as we speak. You just have to keep looking. 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 hashtag#jobhunting hashtag#networking hashtag#interviewing hashtag#resume
Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7. Nice SCM salary report summary: lnkd.in/dTneTGgw. Also, from ASCM/APICS: lnkd.in/d7WSAWC3 For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9. 2023 Logistics Salary Survey: lnkd.in/g-MCCsfa. 2023 CIPS SCM Salary Data: lnkd.in/gEUUTJHc ISM 2022 SCM Salary Data: lnkd.in/gJt7_DYT SCMR Salary Data: lnkd.in/g265-hyy Coursera 2023 SCM Salary Guide: lnkd.in/grxANayH A nice SCM Salary Report from HireLily: lnkd.in/g57MP9Qx Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu. Free: All Combined Links and Supply Chain Salary Reports lnkd.in/gtffWe55 #supplychain #salary #career #jobs #jobsearch #supplychainmanagement
An AI just negotiated a contract for the first time ever - and no human was involved www.cnbc.com/amp/2023/11/07/ai-negotiates-legal-contract-without-humans-involved-for-first-time.html Also: “Walmart deployed AI-powered negotiations software w/ a text-based interface (i.e., a chatbot) to connect w/ suppliers.” lnkd.in/gF5qT_im. “Walmart, like most organizations with large procurement operations, can’t possibly conduct focused negotiations with all of its 100,000-plus suppliers. As a result, around 20% of its suppliers have signed agreements with cookie-cutter terms that are often not negotiated. It’s not the optimal way to engage with these “tail-end suppliers.” But the cost of hiring more human buyers to negotiate with them would exceed any additional value.” …data on job postings by non-technology companies tied to skills around artificial intelligence, robotic process automation & data science/analytics…From Gartner: lnkd.in/gcs-xgxV. How to approach a new technology investment, based on what I have seen in software & professional services: For example,
If a company wanted to get started w/ using RPA, where & how should they begin? lnkd.in/eQYrHUM. FYI, a great post on RPA by Mr. Stankovic: lnkd.in/gM6PcT-m. From me: lnkd.in/gy5Y6iD8 lnkd.in/g4TJMBAw Supplier Cost Breakdowns and How To Negotiate Price Increases: lnkd.in/g-rBER5h lnkd.in/ggsngSk6
“…could mean that the recent decline in the real prices of oil, minerals, and agricultural products will persist.” However, do not forget (from the FBR of Chicago): Durables had a larger inflation contribution in the U.S. than in ANY OTHER country in the OECD. “This strength in U.S. durable goods demand during the pandemic & recovery is unusual (hmmm, stimulus?)…Throughout most countries in the sample, consumers behaved as we would expect, cutting their spending on durable goods.” Hmmm. lnkd.in/gCg5vWut lnkd.in/gSPdx5fc www.project-syndicate.org/commentary/slower-growth-higher-interest-rates-lower-commodity-prices-by-jeffrey-frankel-2022-08 But then again: U.S. Supplier Inflation Logs Slowest Pace Since Last Fall. lnkd.in/gu4g9b2R This Fall, our students will be looking at raw material market data from multiple sources, we will visualize & analyze historical pricing scenarios, & do some simulating on planned purchases & what-if scenarios against forward price curves. It beats manually updating giant color coded excel spreadsheets. lnkd.in/ghjfe3gh lnkd.in/gMuhMNf6 lnkd.in/gQZ7HfWb Stay tuned for some white papers from the WMU SCM program based on the following price analysis & strategic cost mgmt research...Some of our alumni are already testing and / or implementing this cloud based service called materialx Decision Support from N-Alpha that allows procurement organizations, finance, & all other orgs that are exposed to raw material pricing changes, stay on top of market pricing from multiple sources & proactively assess its impact on future raw material purchases. It is now also serving as the basis for addressing price indexing implementations (formulas, alerts, etc.) by champions in a few larger orgs. This tool is quick & easy to use to prepare for price negotiations with suppliers, & often returns its investment (which is minimal to begin with) rapidly. This service also allows orgs to replace multiple spreadsheets & email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions & what led to them, & capturing organizational knowledge. See from Jan 2022: lnkd.in/g-Np6BnA. Aside from the precious metals, every other commodity has managed double-digit increases during covid (are things really slowing down now...in the U.S.?). What happened to Price Analysis & Strategic Cost Management? (I need to teach this way better). I have asked a lot of SCM managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., CME, COMEX, etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process. What are buyers to do? Procurement organizations need processes and “tools” to mitigate and negotiate on these requests in a strategic, data-driven manner (and we/I need to do a better job of teaching it).
Hmmm. The Street: “For all you parents out there: want your kids to get filthy rich? One path to great wealth is going to a first-class university. That’s what a study from global research firm Altrata shows. Here is its ranking of the top 10 U.S. universities in terms of the number of graduates enjoying a net worth of at least $30 million. Altrata calls that “ultra-wealthy” (seems like a fair definition, right?).” www.linkedin.com/posts/sime-curkovic-61617a115_the-path-to-achieving-high-wealth-leads-through-activity-7011393706373120000-DGQ2? Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession w/ them...lnkd.in/gv_vZ4k9. I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergrad level. (Yes, I still wish my school was ranked higher than #285). UM & MSU & Michigan Tech ranked very well, congrats to them. lnkd.in/gc27Ne9p "Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk …only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable. At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
From me: if you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat dubious and suspect. At the undergraduate level, pay less attention to the brand of the school, & pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.). FYI: “The majority of ultra-wealthy individuals already reside in the U.S., but 2021 saw a staggering increase of 30,470 people bring added to this exclusive ultra-wealthy category in the country.” lnkd.in/gU84FAHG In 2021, America’s top 10% of income earners made at least $129,181 a year-more than 2x the U.S. avg. America’s top 10% works 4.4 hrs more each week than those in the bottom 10%. Globally, the top 10% in 27 countries surveyed are actually working around 1 hr less each week than the bottom 10%. lnkd.in/gBDnqMse #supplychain #collegesanduniversities #careerguide
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.
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
Young people who work remotely are 'probably not' going to become corporate CEOs, an NYU business professor says www.yahoo.com/news/young-people-remotely-probably-not-154352191.html 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.
EMPLOYERS: be ready to negotiate this part of the job as it is a seller’s market at 3.9% unemployment and even less for people with college degrees (and they will play hardball).
How to effectively join LinkedIn. I have former students that found new jobs & they were not even looking (i.e., poaching)! lnkd.in/grVNTF2V.
The 8 Biggest Mistakes People Make With Their LinkedIn Profile And How To Avoid Them: lnkd.in/gxUSZtEV.
Should you get creative with your resume? Experts decide whether you’re more likely to land your dream job: lnkd.in/gKDeb-Vv.
New to the job market? These 5 ‘soft’ skills could give young workers an edge, according to LinkedIn: lnkd.in/gV6bUQ64?.
LinkedIn and Resume Insights for Supply Chain Students! lnkd.in/gdTHCKQS. lnkd.in/gX_8rQhZ
A SKILLS first job market (not degree?)? Hmm. That makes the Skills section of your resume and LI profile a little more important. lnkd.in/gPtgqS8c.
Believe it or not: It is actually now time to start applying & interviewing for 2024 summer internships! lnkd.in/g6CH_pYv.
Current data (2023) from NACE: FIGURE 1: AVERAGE SALARIES BY DISCIPLINE / BACHELOR’S DEGREES and FIGURE 2: TOP DEGREES IN DEMAND (BACHELOR’S DEGREE LEVEL). lnkd.in/gdBGzP_H.
I have been trying to explain Supply Chain Management to high schoolers. It’s not that easy. Parents like to see this: the number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022: lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review: lnkd.in/gbV_aMT7. WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? th-cam.com/video/0F0B2H2G5LI/w-d-xo.html Professional experience that pays well while in college?...Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3. Not becoming a victim of technology?...The ultimate SCM minor…Business Data Analytics: lnkd.in/eqiqSMRb & lnkd.in/gwHynAZB & lnkd.in/dtqV-HqE. Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gR5pNeDe. How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gtXUfBJg. Goals of an internship (it’s not job shadowing): lnkd.in/gMtdr92u. Women in Supply Management: lnkd.in/g8bpMTq9. If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well: lnkd.in/g8n-dCz2 hashtag#supplychain hashtag#career hashtag#college hashtag#jobs .
Wow, the Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw. Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.” A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.” The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7. Nice SCM salary report summary: lnkd.in/dTneTGgw. #supplychain #jobs #economy
A great weekend read, should SCM students learn this?…”the importance of including location analytics in the standard business school curriculum-especially in the field of supply chain management.” Access via: ow.ly/kMci50PWU1K. Are Supply Chain professionals using ArcGIS Pro technology? Do you think our SCM students should learn this? ArcGIS is a technology that can help companies manage risk. I recently had a GIS analyst reach out to me & ask: Is there a business geography specialty group that addresses supply chain issues? Where could people find GIS supply chain problem sets? I reached out to a GIS geography colleague & the feedback was…There is a Business Specialty Group of the American Association of Geographers (AAG). lnkd.in/gS98FvHC
There are a lot of interesting examples of SCM issues & GIS at the ESRI website. lnkd.in/ge9FqbKH
Some of the interesting best practices involve dashboard type views of interruptions: lnkd.in/gMrb-pfy
There are also advanced operations in ArcGIS Enterprise: lnkd.in/g3ZBxhxV
As for problem sets, there are often interesting datasets and suggestions for solving complex problems on GitHub. A quick looks shows a lot of Python type modeling for SCM on GitHub.
In terms of teaching, most of these topics are beyond our intro level GIS course. However, we also teach GEOG 5690: GIS Workflows, where students learn more about dashboards & origin-destination analysis, & work on 4 mini-projects w/ a data type of their choosing. We will teach a Project Mgmt & Programming course (GEOG 4670/6670) that could also be useful to SCM students. Here are some entries in the GIScience Body of Knowledge/encyclopedia that might be helpful to have students read: lnkd.in/gsPEeBYt lnkd.in/gKsXcT_X lnkd.in/g5M-B88t Also, if you want to find where the business geographers publish, they typically aim for 'applied geography' journals: lnkd.in/gMxzs3UX lnkd.in/gaUAszSX _ Our Intro GEOG 3010 - Fundamentals of GIS An intro course that covers the use and application of geographic information systems (GIS). It combines an overview of general principles of GIS & practical experience in map creation & the use of spatial information, including fundamental aspects of measurement, representation & analysis. Intro GIS focuses on the basics of working w/ both vector & raster data, as well as the societal aspects of GIS (emerging uses, interaction w/ new technologies, data standards, public access to information). We upgraded the course to ArcGIS Pro, which works better in online environments; we are going to have a dedicated Mac-user office hour period, for Mac users that will have to use remote desktop or some kind of Windows-on-Mac system; AND we are using COVID and racial disparities data through the semester so that students really get a handle on some of this real data w/o relying on the interpretation of others. See comments: lnkd.in/g4Nk4ddz
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, if a company does not know your market value. There are already>10,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE. lnkd.in/gt98WuvK & > 16,000 business related internships. Perhaps delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb lnkd.in/gARup7zr lnkd.in/g4-csGUy www.linkedin.com/posts/sime-curkovic-61617a115_goals-of-a-supply-chain-internship-or-co-op-activity-6994340284243345408-XO44? Top 100 Internships lnkd.in/g8N_p43w Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr). lnkd.in/gpBm_m84 > 1/2 our students are making over $20/hr. The program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16/hr. Why would any org want to pay 20-30% below avg? Should grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60-70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gB9bTdgJ lnkd.in/gW5uwkkE Our avg is $65K. You need to position yourself w/i that context. Are you above avg? Why? And, does this org want someone that is above avg? Probably. If someone asked me what the avg WMU SCM student looked like, I might say: they have around a 3.3-3.4 GPA, 2-3 internships, a very relevant minor like Business Analytics, etc. So what if you have a 3.1 GPA & only one internship? It's OK! You can still get the best jobs out there! Maybe you interview great, maybe you really connect w/ the corporate culture, maybe you have stronger soft skills, etc. What if you have a 2.7 GPA & have to take a job w/ a mom & pop 3PL for $48,600? What's wrong w/ that?! Yes, there might be consequences for not getting more experience, for not having a higher GPA, for not having a BA minor, etc., but, it is America. You get 2nd+ chances.
Also, the top 20% in our program are getting offers 64K-78K from the F500 types. Not all orgs can compete against these offers & try not to focus too much on $. The $ will come no matter what if you have a challenging job. Try to make an assessment based on things beyond $. I know it is hard to do but you have to think long-term, & long-term the $ will come. The most important part of your long term earning potential is not your starting salary, but what your resume will look like 3-5 years from now. In other words, what will you accomplish & what will you be doing in your first job during the first 3-5 years of your career? #joboffer #negotiation
14%?!...“Only 14% of procurement leaders express confidence in their talent’s ability to meet the future needs of the function, according to a survey by Gartner, Inc. The finding comes as business acumen and technology/data competencies have rapidly grown in importance over more traditional procurement skills.” www.linkedin.com/posts/sime-curkovic-61617a115_gartner-says-only-14-of-procurement-leaders-activity-7135983119236567041-aI_U? This is one reason that we created our new AI course - to create AI awareness and skills, and it is designed for non-technical majors. We will be offering that course again in spring 2024 semester. Per conversations with our CIS faculty…lnkd.in/gJ-YjJKD. Do not be a victim of technology! You could make the case that every Business major should minor (or double major) in Data Analytics. These skill sets would perhaps include: Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros; 2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib); 3. Data mining/RapidMiner, machine learning & data science; 4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy); 5. Relational data models (Excel data model); 6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly). lnkd.in/guvjPb_V Common theme: BIG DATA is not going away: lnkd.in/g5UizdeN. In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gxHRzjkE lnkd.in/eqiqSMRb & lnkd.in/gXYSQKc7. CIS 4640 - Business Data Mining This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. lnkd.in/geBPVWAD.
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
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. Watch these major stories on WMU Haworth's major students. lnkd.in/dHhA8iEX Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7 WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major: lnkd.in/g3CZBrM7 Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples: WMU named in Princeton Review's 2022 'best business schools' lnkd.in/gnRvmJwD Accounting *Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs. lnkd.in/esW6ZuD lnkd.in/eN5wF6b Supply Chain Management *Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF Food & Consumer Package Goods Mktg *Has earned certification for its category management coursework from the national Category Management Association lnkd.in/eTjBRP9 Sales & Business Mktg *Nationally ranked as the best university sales program since 2007 lnkd.in/etcppYi Digital Mktg & eCommerce *One of only a handful of its kind in the nation. wmich.edu/dme Advertising & Promotion *Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals. lnkd.in/ecR2pxu Entrepreneurship lnkd.in/emeTCTJ *Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies. Human Resource Mgmt *One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6 Leadership & Business Strategy *We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses. lnkd.in/e5JUSye Military Science & Leadership *Thank you for your service to our country! wmich.edu/rotc Finance & Commercial Law *Business law, finance & personal financial planning wmich.edu/finance Business Information Systems *Business analytics, Computer information systems, Cybersecurity lnkd.in/evSdSqU GRADUATE PROGRAMS *Princeton Review: one of the best places to earn a Master of Business Administration degree. #college #career #major #business
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.
Notice how a lot of these jobs are in the supply chain. "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree." www.visualcapitalist.com/sought-after-entry-level-jobs-of-2023/ The U.S. supply chain contains 37% of all jobs, employing 44 million people. See: The Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw. Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.” A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.” The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ. In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6. Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy "The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt. Nice SCM salary report summary: lnkd.in/dTneTGgw. #supplychain #jobs #economy
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:
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.
www.linkedin.com/posts/sime-curkovic-61617a115_do-certificate-programs-pay-off-activity-6985915795742605312-TTgA?
Human Resources Management Majors
SHRM, the Society for Human Resource Management, is a 300,000+ member international org for HR professionals that provides several different types of resources, training, and networking opportunities for members. They have affiliate chapters throughout the world at the State and Local levels (MISHRM and KHRMA), as well as student chapters (our own SEHR).
SHRM offers two levels of certification: the SHRM-CP (certified professional) exam and the SHRM-SCP (senior certified professional) exam. If students come out of a college program aligned with the SHRM Body of Skills and Applied Knowledge (BASK), they can take the CP exam as soon as they have 500 hours of work experience. Some of our students who have had internships are able to take the SHRM-CP before they graduate.
Based on my observations: employers that interview very selectively for internships & pay market value, tend to convert exceptional talent into full-time employees. In fact, they pay their interns a salary that is very close to what their full-time offers are. For example, from a student:
“My interview process with Firm A was amazing. They started off with a logic test and then proceeded w/ 3 rounds of virtual interviews. The last round was me personally with the vice president of Purchasing, which I thought was a sign of care of their interns…compared to Firm B where I had a single round interview w/ 2 younger people in their job rotation program. Also, Firm A is offering me 20% more in salary. Firm B also put a bad taste in my mouth when they made the offer 1.5 months after the interview. And Firm B said that I would have a decision from them a week after my interview, which obviously did not happen.”
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.
hashtag#interviewing hashtag#career hashtag#jobhunting hashtag#resume
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).
Reminder: Yes, it is now time to start applying & interviewing for summer internships. Companies get budgets for internships approved months ahead of time & they often recruit nationally for the best talent. Some want to get this wrapped up by the end of the year, but you have to start looking now. Do not wait until Spring 2023 to find a Summer 2023 internship. Note, around ½ my students line up summer internships in the Fall & the other ½ during the Spring (so, it’s never too late). Just look at how demand > supply…
There are already > 20,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE & lnkd.in/gt98WuvK & > 60,000 business related internships.
lnkd.in/gmMH5myb
PERHAPS delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb
lnkd.in/gARup7zr
lnkd.in/g4-csGUy
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr).
Over half our students are making over $20/hr. I firmly believe the program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16 per hour. Why would any company want to pay 20-30% below avg?
I have soooo many students asking about STAR job interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR.
More help:
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Help with online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq
Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q
Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5
Students are getting lots of job offers...
Reneging: Once you commit, quit! lnkd.in/e85beQ2
In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege?
Recent observations & career advice (videos/podcasts):
lnkd.in/gJK8xBZe
lnkd.in/g-CanjDx
lnkd.in/gvPiGTt5
Tips/advice from this college professor (aka, educated idiot):
1. Read. People that read a lot make more $ (2.3 times more?!)
lnkd.in/ggBDzJrp
2. Learn the job saving technology.
lnkd.in/eu7ANq6
lnkd.in/gE3wp6JU
3. Learn to interview well.
lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
Being job ready…
lnkd.in/ed-ZfanD
4. Learn to negotiate ($).
lnkd.in/gMJYNJkh and lnkd.in/guTUcvdu
5. Learn to network & use LinkedIn. lnkd.in/gPZPQtqR
lnkd.in/dAwyTUy
lnkd.in/gFa3iCsg
6. Delay graduation for experience. lnkd.in/ewKu7b_X
7. Learn to problem solve - lnkd.in/eWaJ8q2
lnkd.in/gSVTKmwC
8. Double Major? lnkd.in/gAViGTVG
lnkd.in/gqAE9u8W
9. Get a grad degree? Earn $3M more than someone w/ only a bachelor’s degree. lnkd.in/g5FY5aty
lnkd.in/gA9KH-Ff
10. Job rotations? lnkd.in/ervskG5
11. 10 college majors that earn the most money: lnkd.in/gcSqXwyJ & lnkd.in/gEXGmFfU.
12. Free tool for calculating degree ROI: lnkd.in/gEPwNSTJ
lnkd.in/gsKyJ9rn
13. Get certified as a subject matter expert:
lnkd.in/g3yfkvQr
lnkd.in/gVbQV2q7
14. Learn to talk CFO talk:
lnkd.in/gtve9xTM
#internships #careeradvice #interviewing #supplychain
I had a SCM professional ask: “I don’t even know basic python yet . I want to get to the more advance items but I am not ready yet . I’ve done research into different courses but there are so many basic courses, I’m not sure which one is actually useful for someone looking to do supply chain analysis.”
Some options: You could try one of those intro python classes at coursera or udemy. Just a word of warning, the lack of interactivity and support at those MOOCs usually causes a super low retention rate (9% - 16%). The person needs quite a bit of dedication to successfully finish it. After that, look for a second course in analytics, data science or machine learning using python. This assumes that he/she is interested in using python for those. Otherwise, invest time in pre-built specialized software packages (e.g., Rapidminer, XLminer, Knime, SAS, SPSS, etc.).
I kind of like these bootcamp (such as at MSU) but it seems to be an aggressive design. Each of the topics listed under their “Market-Driven Skills” is usually a semester-long course. I am not sure if they are targeting people with some experience in these areas. But, yes, it seems to be an interesting program. The same thing applies to analytics certificates offered through MOOCs, such as Coursera, EdX and others.
One caveat that SCM grads should know is that many of these online programs lack the required hand-holding experience. This is why the retention rates of MOOCs are usually in single digits. We find that this hand-holding experience is essential to motivate students to complete the training.
bootcamp.msu.edu/data/landing/?msg_cv_scta=4&msg_cv_stbn=1&msg_cv_fcta=1&fqvar1=3&Data&DGPAdvanceUpskiller01_DGPAudTest1_rfullg&SponsoredContent&MSU47_SCI&L2067A_SponsoredContent-Image_Data_Detroit_DGPAdvanceUpskiller01_rfullg_DGPAudTest1_BrandedModel1_CPC&li_fat_id=e627c4e1-d133-41a6-86ec-57fd4b25a952
MOOC stands for Massive Open Online Course. It is an online course that is designed to be open and accessible to a large number of participants. MOOCs offer a flexible learning environment, allowing participants to learn at their own pace and from anywhere in the world.
MOOCs are typically delivered through an online platform that provides access to course materials, videos, quizzes, and discussion forums.
MOOCs are usually free and open to anyone who wants to enroll. Some MOOCs may also offer a paid option to receive a verified certificate of completion or academic credit. MOOCs are offered by a variety of institutions, including universities, educational organizations, and private companies.
MOOCs have gained popularity in recent years because they offer a convenient and cost-effective way to learn new skills and advance your career. They cover a wide range of topics, from computer science and engineering to business and the humanities.
www.linkedin.com/posts/sime-curkovic-61617a115_will-i-have-to-learn-and-do-a-lot-of-coding-activity-7029050409201668096-Srar?
A related great read…Half of College Grads Are Working Jobs That Don’t Use Their Degrees: lnkd.in/efcJQEXJ. Translation: Success = Pick the right major (i.e., demand > supply) + Get work experience (i.e., internships related to major) + Pick the right first job (i.e., they pay a premium for your major because of supply/demand conditions and you are job ready day one because you have professional work experience). Notice:
“More than any other factor analyzed-including race, gender and choice of university-what a person studies determines their odds of getting on a college-level career track. Internships are also critical.”
I chuckled at this one: "He also regrets taking an entry-level sales job in logistics after months of fruitless job hunting after graduation."
“Bachelor’s degree holders in college-level jobs earn nearly 90% more than people with just a high-school diploma in their 20s.”
“…most of the graduates who don’t find work reflecting their degrees are what they call “severely underemployed, meaning they’re in jobs that only require a high school education or less.”
Picking a college major:
lnkd.in/eX8XUHxj
The 16 worst-paying college majors, five years after graduation: lnkd.in/eTyx7YpW. But…If You Majored in One of These 18 Subjects, You’ll Likely Have a Comfortable Retirement: lnkd.in/exHB9Duj.
Our new "apprenticeship" program: We just concluded a co-op pilot program with a F500 company that was highly successful and has started its second iteration in 2024. So, what makes this Co-op program different?
lnkd.in/eBTbaQui
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
Our students are going into a job market inundated with outdated processes. Manual and labor-intensive operations will force them to spend hours every week doing repetitive tasks that could be automated for much greater efficiency and accuracy, allowing them to focus on more fulfilling work. The majority of their time will be spent gathering data, while much less will be spent analyzing and providing insights to support strategic decision-making.
For example, during these inflationary times, it is time for business faculty to start teaching the lost art of Price Analysis and Strategic Cost Management (in very different ways). I have asked a lot of business managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), Commodity Exchange (COMEX), London Metals Exchange (LME), New York Mercantile Exchange (NYMEX), etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process.
Surprised by price increases? As much as 70% of current contracts have price increase provisions! In the WMU supply chain management program we teach our students to track commodity forward price curves. We now look at raw material market data from multiple sources, visualize and analyze historical pricing scenarios, and simulate planned purchases and what-if scenarios against forward price curves.
How do we better prepare our business students to be job ready day one? Procurement organizations need processes and “tools” to mitigate and negotiate on these price increase requests in a strategic, data-driven manner (and academics need to do a better job of teaching it). Traditionally, we have worked very hard to help our students develop very sophisticated data analytics skill sets to manage these very large and complicated forms of information.
Employers place a premium on these business analytics skill sets and would include:
Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
See our Business Analytics minor at:
wmich.edu/infosystems/academics/analytics
However, I would recommend complimenting the above skill sets with bringing in some cloud-based software and technology that gets us beyond manually updating and coding giant colored Excel spreadsheets. For example, I have been collaborating with N-Alpha and they have a cloud platform called materialx that I am bringing into the classroom (n-alpha.com/solutions/decision-support/). It gets us away from manually updating spreadsheets. Further, these technology software companies tend to be very supportive in helping faculty and students as these students will eventually become the future business professionals that actually use the technology (win-win-win, right?). And the technology is out there!
We will soon have some white papers from our WMU SCM program based on the following price analysis & strategic cost management research. Some of our alumni are already testing and / or implementing these cloud-based services that allows procurement organizations, finance, and all other organizations that are exposed to raw material pricing changes, to stay on top of market pricing from multiple sources and proactively assess its impact on future raw material purchases.
These technologies are also now serving as the basis for addressing price indexing implementations (formulas, alerts, etc.). It can all be done automatically and updated daily, saving hours from manually updating spreadsheets. These tools are quick and easy to use to prepare for price negotiations with suppliers, and often returns its investment (which is minimal to begin with) rapidly. These technologies also allow organizations to replace multiple spreadsheets and email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions and what led to them, and capturing organizational knowledge.
I have asked many of my former students what are the most prevalent technologies used in your supply chain and business role. The two most common answers are Excel spreadsheets and email. It is 2023 now and we need to move further along. You could make a strong case that using antiquated business tools was a major source of supply chain disruptions the last few years.
My former students keep telling me they are the “Excel Spreadsheet” generation. Excel works and they have very advanced spreadsheet skills. They also tell me that it gives them a competitive advantage in the workplace (i.e., people depend on their monthly report outs per se and very important people read them). The older managers have very weak Excel skills and even the younger graduates coming in have to play catch up to the people that are in their 30s and 40s (that have very advanced Excel skills). My former students also feel very comfortable with Excel. Many of these spreadsheets are their own creation and they find it empowering. In general, it works, it works well, it gets the job done, they feel comfortable with this version of technology while most others do not feel comfortable with it, the technology itself is cheap, and it gives them job security. Some said it took years to build up these spreadsheets, and now they are up and running. However, as I teach my current students, there are alternatives rooted in technology that will allow you to do things better, faster, and cheaper.
Final Thought
In talking with a colleague, we both agreed that many hiring managers do not have a full understanding of the Artificial Intelligence (AI) skill sets associated with our graduating students. Our business students told us many times that their hiring managers valued only the traditional Excel capabilities (i.e., lookup functions, pivot tables, etc. - however, that is NOT AI). Managers also greatly overlook the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go beyond our Advances Excel and Predictive Analytics courses. For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on.
Hopefully we do a better job of training our students to “sell” the AI skills and managers become more open to embracing the benefits (which might require a culture change). Embracing and trying new technologies requires leadership that is willing to try new things. Otherwise, we keep using spreadsheets and email to manage very large and complicated data sets.
Hello Professor Sime,
I'm pursuing my bachelor's degree in supply chain, Transportation, and Logistics management. I currently work in the corrugated packaging industry hoping to switch over to the aviation industry. I was hoping that you can give me some insight on if pursuing a masters degree in supply chain engineering or if pursuing different supply chain certifications would be better to fall into role like supply chain analyst or Supply chain engineering or if my bachelor's degree should be enough.
Thanks in advance
Kourtney Albert.
Finally, an article about rankings that makes sense (from Forbes). Then there’s this...U.S. News & World Report: Best Undergraduate Supply Chain Management / Logistics Programs: lnkd.in/giMYXfR5. Note, in these rankings, multiple schools do NOT actually have undergraduate degrees in Supply Chain Management. For example, correct if I am wrong, but:
MIT does NOT offer a specific undergraduate degree in supply chain management. However, MIT's Sloan School of Management offers courses and programs in operations management, which includes aspects of supply chain management.
The University of Michigan offers a Bachelor of Business Administration (BBA) degree through the Stephen M. Ross School of Business. While they do NOT offer a specific undergrad degree in SCM, the BBA program includes courses in operations management & SCM as part of its curriculum. Additionally, students can choose to focus on SCM as part of their elective courses or choose a related major or minor, such as operations management.
Carnegie Mellon University does NOT offer a specific undergraduate degree in SCM. However, the Tepper School of Business at Carnegie Mellon offers a Bachelor of Science in Business Administration (BSBA) degree, which includes courses in operations management and operations research. Students in this program can choose to focus on operations and supply chain management as part of their concentration or as elective courses. Additionally, Carnegie Mellon offers a minor in Operations and Supply Chain Management that can be pursued alongside a major in another field.
___
Yale and Harvard law schools part ways with U.S. News & World Report rankings: lnkd.in/gTx5vZfg.
Note, Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession w/ them...lnkd.in/gv_vZ4k9. From me: Pay attention to what matters most- maybe not rankings...especially at the undergrad level. lnkd.in/geVybK-W
lnkd.in/gEw8ZMbc
Students: Pay attention to what matters most- maybe not rankings...especially at the undergrad level. If you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat suspect. At the undergraduate level, pay less attention to the brand and reputation of the school, and pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.).
#supplychain #collegesanduniversities #careeradvice
Mid-Level Supply Chain Positions | Average Salary: $115,000
Senior-Level Supply Chain Positions | Average Salary: $260,000
Nice supply chain website. My students ask great questions when it comes to…money. Recently, someone asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic.
Entry-Level Supply Chain Positions | Average Salary: $69,000
Also:
Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000
Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000
Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000
Source:
lnkd.in/ga8Azij7
__
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. lnkd.in/dkGr4_uX
Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. Salaries per "ASCM" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr
People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year."
Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7.
SCM $ Information -
lnkd.in/gn5jM9xt
lnkd.in/gTBMP5dM
lnkd.in/eQvfFMc
lnkd.in/g7YamZCU
#supplychain #job #salary #manufacturing #logistics #procurement
Also, our new SCM major curriculum is well underway (and now ALL majors can minor in supply chain...all products and services have a supply chain).
Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For
a long time, we required a single procurement class & a single logistics
class. They simply were not enough as one class left little time to focus
on the strategic issues. So, starting in Fall 2023, our SCM majors will be
required to take 2 sourcing classes & 2 transportation classes.
The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics $ Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Mgmt Program:
MKTG 2750 Global Negotiation
SCM 2200 Enterprise Resource Planning Systems
SCM 2800 Introduction to Supply Chain Mgmt
SCM 3000 Production Planning
SCM 3030 Procurement Mgmt
SCM 3050 Logistics and Transportation Mgmt
SCM 3800 Continuous Improvement Theory & Practice
SCM 3810 Applied Continuous Improvement Project
SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required)
SCM 5050 Strategic Transportation Mgmt
CIS 2640 Applied Analytics Foundations
Or a minor in Business Analytics
lnkd.in/eprKKbF
lnkd.in/gp6VX_e3
What skills come with the Business Analytics minor?...
1. Adv Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
Hello Sime! I’m a huge fan and appreciate what you do for the community of supply chain students worldwide.
I do have a question though that I want to ask you. I’m currently a junior and i major in supply chain management at southern Illinois university. Recently we have just included a business analytics program which allows me to now minor in a form of data analytics.
Speaking with some of my professors I’m kind of torn between minoring in BA and Marketing. Some of them recommend marketing some say BA. What is your take on it?
Hi Jason, both are great options. Note, I think Business Data Analytics requires tons of hand holding and the classroom is the best place to learn that material, and you will need those skills right away and moving forward. See:
SCM Data Scientist (>171K jobs on LI- that's all).
Our Business Data Analytics minor:
lnkd.in/gf_UWz5x
lnkd.in/gKV4dw2z
lnkd.in/gHnUrVZz
lnkd.in/g9pgFErz
Here is making a case for the Marketing side:
www.linkedin.com/posts/sime-curkovic-61617a115_question-from-a-student-i-am-thinking-of-activity-6852554774370430976-sBoX/
www.simecurkovic.com/posts-page/
www.simecurkovic.com/membership/
- Supply chain knowledge for everyone. Explore, learn, & connect
- Do your job better, faster, & cheaper
- Join my network to reach thousands of SCM students, faculty, & professionals
- Hot Market: Over 25,000 SCM internships and > 250,000 full-time jobs
Join to get access to endless current SCM content and job postings. Bring your SCM needs and questions, and I will provide you with timely and thorough feedback. If you join our growing community today, you will have access to Sime Curkovic’s expertise through blog posts, articles and videos. You’ll also gain access to Dr. Curkovic for one-on-one advice.
Dr. Curkovic (please do not call me Dr.) has more than 30 years experience working to shape the future of SCM professionals. Check out this intro lecture (>217K views). Have access to > 50 hours of timely SCM content with > 4,400 TH-cam & > 20K LinkedIn followers, & thousands of views daily.
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
Accounting Majors
There are a lot in accounting, the CPA is the most widely recognized certification, followed closely by the CMA (Certified Management Accountant). Some of the other certifications are
CIA (certified internal auditor)
CFA (certified forensic accountant)
CGMA (chartered global management accountant)
The AICPA is the CPA, the IMA is for the CMA, the AICPA is working to expand into management accounting with the CGMA.
__
Business Law: American Bar Association (that’s all I have).
__
Digital Marketing
For digital marketing, there is no widely accepted industry organization, possibly because half of the people in the industry are self-taught, but there are quite a few localized organizations that seek to bring people together with regularity. Our students will actually be helping launch a Kalamazoo-based professional group in mid-October. "Kalamazoo Digital Media Meetups" will become a quarterly thing for professionals in the southwest Michigan area.
There are many different certifications, but none are industry standards. Email me for a list of free ones that faculty recommend to students (although from this list, only a few from Google are ones that are actually requested in job postings).
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
Students: It is not too late to find a summer internship (not even close). OK, maybe a little close, but I have students that are interviewing as we speak. You just have to keep looking. 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
What do internships pay (never work for free)? The going rate appears to be $20-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu.
FYI, our career services manual has 112 pages of ideas to help with resumes, interviewing, getting offers, etc. For more help, pasted below are links from Yale, MIT, & Harvard (not bad, good schools I hear).
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE &
lnkd.in/gC44Baeb
MIT: lnkd.in/g3xqeDyc.
This is a very good one from UNC Pembroke:
lnkd.in/gJA3uub2
WMU career services manual link:
lnkd.in/gipsXEsK
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.
Great read…Translation: Success = Pick the right major (i.e., demand > supply) + Get work experience (i.e., internships related to major) + Pick the right first job (i.e., they pay a premium for your major because of supply/demand conditions and you are job ready day one because you have professional work experience). Notice: lnkd.in/eZShQDtJ.
hashtag#jobhunting hashtag#networking hashtag#interviewing hashtag#resume
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
Mapped: What You Need to Earn to Own a Home in 50 American Cities
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. They also pay around $6K/month for rent (so they need roommates). Owning a home will be tough. 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
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source:
lnkd.in/gPqvNwG5
Logistician, $74,750
Logistics analyst, $58,713
Supply chain planner, $64,844
Purchasing agent, $69,600
Purchasing manager, $121,110
Logistics manager, $114,670
Distribution manager, $94,775
Operations manager, $100,780
Business and supply chain competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%.
Top two:
Microsoft Office and productivity tools
Advanced Microsoft Excel
Technical skills
Among the top and fastest-growing technical skills are:
Data science
Supply chain knowledge
Supply chain management
Project management
Many of our SCM students get a Business Analytics minor, what does that mean? See:
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
From me: AI will have a great impact on SCM. However, one thing often not mentioned is the attitude of hiring managers, as many do not have a full understanding of the AI skill sets of graduating students. Our SCM students told us many times that their hiring managers valued only the traditional Excel capabilities (lookup functions, pivot tables, etc. - that is NOT AI), & they greatly overlooked the opportunities from other analytical solutions (skill sets that our students have). This makes it a bit difficult to sell the analytical techniques taught in classes that go BEYOND our CIS 2640 (Excel on steroids) - Applied Analytics Foundations.
For example, our data mining class is essentially a machine learning class for business, which is the core of AI. The course is designed to solve the problems that Excel falls short on. Hopefully we do a better job of training our students to “sell” the AI skills & managers (SCM Leaders) become more open to embracing the benefits (which might require a culture change).
#supplychain #dataanalytics #datascience #python #artificialintelligence #ai
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
Did you know that 80% of the global goods trade is transported over sea? FYI: COSCO Shipping (#4 on list) is China’s state-owned shipping company. For context, Chinese state-owned enterprises have ownership stakes in terminals at five U.S. ports. See:
lnkd.in/g3AfzPAj?
I had a student ask me why don’t all those shipping containers have smart technology attached to them? I said I am very certain some do. He asked what %? I was like a deer in headlights, no idea. I guessed & said < 1%. Per this article, I guessed well:
lnkd.in/gC8MrgAC
… around 3.6% of the global container equipment fleet was fitted with smart technology devices, representing 30% growth from the year prior. BUT… looking at dry containers, only 0.3% of the global fleet is currently considered “smart”. Educated idiots (professors like me) are great guessers.
Here is some good news:
…the technology so far has been mainly reserved for reefer & intermodal containers, where smart containers represent approximately a third and 40% of the respective global fleets.
… Drewry forecasts the number of smart containers in the global fleet to accelerate rapidly and reach over 8.7 million units in 2026, representing as much as 25% of worldwide box inventories.
I am still shocked by the lack of technology used to manage the supply chain. The two most used technologies: email & excel (huge color coded spreadsheets)...and back and forth emails about spreadsheets.
People want more $ & rewarding work (not paperwork, use technology!) - lnkd.in/g7BwX84c
lnkd.in/gzpRX6Dd
“…most companies’ planning processes are functional, slow and labour-intensive, and that Excel is still the most widely used planning tool.” That is VERY consistent w/ the feedback I get from former students. Predictive Data Analytics (Excel on steroids): I get this kind of feedback all the time…lnkd.in/dQABdsXc Do you know how to use Power BI or Tableau? Which does your company use? Is it mainstream? Visualization is huge. lnkd.in/gceUgQw3
#1 DISRUPTOR is a SCM technology company (Flexport)! 10 of this year’s Disruptors are from the “logistics” sector! Get ready for the convergence of Logistics + Industry 4.0 + Data Analytics.
lnkd.in/gV6hM-2E
Do not be a victim of technology. lnkd.in/eKEaPGq and lnkd.in/efCCBQ5s
I have repeatedly said a huge part of Industry 4.0 will be taking all the “manual” processes that exist & “automating” them using “technology” so that they get done better, faster, & cheaper.
#bigdata #dataanalytics #supplychainmanagement
Certifications and Industry Associations by major...
Finance Majors: The CFA Institute for individuals wanting to earn and hold the CFA designation, (focus on investment analysis, etc.) and the CFP Board for those wanting to earn the CFP designation (work with individual retail customers on financial planning)
Personal Financial Planning: Financial Planning Association
There are many different avenues under the finance umbrella. Most of these have some type of certification. This page provides a primer on some of the more common designations: www.fma.org/finance-certifications
__
Sales
Hmmm.
Not really? Salespeople prefer to join other associations where customers hang out. Hanging with other salespeople is not helping them sell anything.
Our degree is more advanced than most industry training programs, so no real benefit in spending more money to earn an unneeded certification. Sales results are the only certification worth anything. Produce and thrive or don’t and don’t.
Subject: Read: People that read a lot make way more money (2.3 times more?!!!!)
Students: Here is an astounding fact - readers make more money - a lot more! It's true. According to a number of studies*, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year.
Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas and strategies they can use to help their careers (e.g., developing core competencies), their teams and their companies.
The Japanese call this act of using a stream of new ideas to improve business practices "Kaizen". They constantly use new ideas to make incremental improvements, which over time, stack up one on top of the other to create massive success.
The same success principle applies to managers. But where can you find a stream of new and practical ideas to help drive your success?
The easiest and most underutilized method is to learn directly from the world's business experts (e.g., the Harvard Business Review). Many of them have written great books that offer their proven strategies and winning ideas - ideas and strategies that took years to develop and perfect. This information is just sitting there for the taking - ready to propel you to the next level.
The problem is, who has the time to do all that reading?
A recent study showed that 74.9% of all managers understand they need to read more to stay ahead of the curve, but they simply don't have the time. And this troubling reality is directly impacting their incomes - not to mention their careers!
There is a solution! Just read.
Last year I had a student with a "BOOKS READ" section on her resume and it included a combination of business professional and personal pleasure books. She had a list of around 10 books. I am curious, if you had this section on your resume, what would that list look like?
___
Pick up a book
Both Gates and Buffett make a point to read every day, a habit that research shows reduces stress and boosts intelligence.
"Reading books is my favorite way to learn about a new topic," Gates writes on his blog. "I've been reading about a book a week on average since I was a kid. Even when my schedule is out of control, I carve out a lot of time for reading."
Every evening before bed, he reads for one hour. By making time every day, he reads a whopping 50 books each year.
Buffett too credits much of his prowess to reading. He says he starts every morning by poring over several newspapers and estimates he spends as much as 80 percent of his day reading.
When asked once about the key to success, the Berkshire Hathaway CEO pointed to a stack of books and said, "Read 500 pages like this every day. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it."
As Ferriss writes in his popular book "Tools of Titans," habits are more important than we think.
"To enjoy life, you don't need fancy nonsense," Ferris writes, "but you do need to control your time."
__
According to another study in the Economic Journal, those who had over 10 non-school books as a kid earned an average of 21% more than those who did not.
__
Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas & strategies they can use to help their careers, their teams & their orgs.
___
Recommended Books to Read (perhaps during break or next summer or...now?)...
Students:
Recommended book reading (these are classics for business majors):
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 GOAL: ELIYAHU GOLDRATT
THE SERVANT: JAMES C HUNTER
The video shows 7 business books recommended by Stanford professors, but these are pretty good also…
www.linkedin.com/posts/sime-curkovic-61617a115_what-are-you-reading-this-summer-discover-activity-6983375927942533120-MfLG?
Recommended by Sime:
The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt, a business consultant whose Theory of Constraints has become a model for systems management. It was originally published in 1984 and has since been revised and republished in 1992 and 2004. This book is usually used in college courses and in the business world for case studies in operations management, with a focus geared towards the Theory of Constraints, bottlenecks and how to alleviate them, and applications of these concepts in real life. This book is widely used in leading colleges of management to teach students about the importance of strategic capacity planning and constraint management.
Another great choice and my first choice would be Car Guys vs. Bean Counters: The Battle for the Soul of American Business by Bob Lutz. He took over GM design around 2000 until about 2009. He's responsible for a lot of the good designs coming out. He was a marketing guy, and there's a lot about marketing in it. Thank you. Sime
10 Greatest Supply Chain Management Books of All Time
In dynamic supply chain environment, people have to make the quick and decisive actions against various issues. This can only be achieved by the knowledge and skills of the team. Then companies try to motivate staffs to continue developing their skills on regular basis. For both entry and executives, the self-study method has proven to be a cost-effective option. In order to facilitate smooth learning process, this article will show you 10 greatest supply chain management books that can help you accelerate the learning.
Results:
And the winners of 10 Greatest Supply Chain Management Books of All Time are listed in alphabetical order as below,
- 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
Free online SCM books:
www.mim.ac.mw/books/Purchasing%20And%20Supply%20Chain%20Management%204th%20edition.pdf
www.sipm.com/Procurement-Academy/Articles/Cost%20Management/StrategicCostMgtLisaElram.pdf
www.mheducation.com/unitas/highered/sample-chapters/9781259957604.pdf
___
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" by Cecere - The book links corporate financials to supply chain maturity, & what metrics matter most.
“Over time, more companies are choosing to draw from their SCM team when they are looking to fill the CFO role. Therefore, a background in SCM is the perfect preparation for a CFO career path-& possibly even the job of CEO.”
lnkd.in/dh8D9tyF
lnkd.in/dgJQ3zZm
Other reads that I think you 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
We are now touching on the Logistics & Supply Chain Management distinction in my Intro to SCM class. Students are shocked by how broad SCM really is (they were concerned it was too “nichey”). Also, our new SCM major curriculum is well underway (and now ALL majors can minor in supply chain...all products and services have a supply chain).
www.forbes.com/sites/katevitasek/2023/08/18/whats-the-difference-between-logistics-and-supply-chain-management-and-why-it-matters/?sh=320a0dd4d639
Notice, that now our students will take 2 "procurement" classes and 2 "logistics" classes. The majority of our SCM students go into "procurement", but "logistics" is the fastest growing career path in our program. For a long time, we required a single procurement class & a single logistics class. They simply were not enough as one class left little time to focus on the strategic issues. So, starting in Fall 2023, our SCM majors will be required to take 2 sourcing classes & 2 transportation classes.
The BLS is projecting that logistics jobs will grow by 7%/yr through 2026. lnkd.in/gikMwzgX. Logistics Salary Data: lnkd.in/gKXinFJC. Also, Logistics Careers: lnkd.in/gg9MZjcM.
WMU Supply Chain Management Program:
lnkd.in/eprKKbF
lnkd.in/gp6VX_e3
MKTG 2750 Global Negotiation
SCM 2200 Enterprise Resource Planning Systems
SCM 2800 Introduction to Supply Chain Management
SCM 3000 Production Planning
SCM 3030 Procurement Management
SCM 3050 Logistics and Transportation Management
SCM 3800 Continuous Improvement Theory & Practice
SCM 3810 Applied Continuous Improvement Project
SCM 5030 Strategic Sourcing; or LAW 4840; or LAW 4860 (3 credits required)
SCM 5050 Strategic Transportation Management
CIS 2640 Applied Analytics Foundations
Or a minor in Business Analytics
What skills come with the Business Analytics minor (imagine seeing this on a student resume)?...
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
#logistics #supplychain #procurement #purchasing
Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that.
www.linkedin.com/in/sime-curkovic-61617a115/recent-activity/shares/
I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergraduate level.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
Another study:
Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH
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
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
#supplychain #collegesanduniversities #collegestudents #supplychainmanagement #careeradvice
Looking into getting into the SCM field but do have a strong SCM background? These SCM graduate certificates could help get your foot in the door. For example:
MIT MicroMasters program in SCM courses are delivered at a fraction of the cost of traditional training. Single subject courses are US$199-US$299 per person. The full MITx MicroMasters program credential is US$1524.60. Sime: You need to be very disciplined to follow through in these online environments though.
micromasters.mit.edu/scm/mitx-micromasters-scm-business/#:~:text=Affordable%3A%20MicroMasters%20program%20in%20SCM,program%20credential%20is%20US%241524.60.
Sime: and I think this gets you half way to a full blown graduate degree at a fraction of the cost. Brilliant if you can flourish during an online experience. I think SCM education is fairly conducive to online learning because it does not require tons of hand holding (versus data science which I think does require some hand holding as I would need to learn that face to face). Also, I think you can apply to ASU’s graduate online program and apply these 6 classes from the MIT MicroMasters SCM. Good luck to other schools trying to compete in this space with ASU and MIT collaborating in very creative ways.
Thank you Hire Lily for the supply chain salary data, & also your Insights: lnkd.in/gSYKjixY. Also from ISM: Both women’s & men’s compensation fell in 2021. From ISM: lnkd.in/g2dVpbeK &
lnkd.in/gHMUSv_s. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt. 2020 $ (before covid): lnkd.in/gz8WQEhr. 2018 $: lnkd.in/gV53aggX.
Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr.
FYI from 2019:lnkd.in/grttnhZm
2018: lnkd.in/gTBMP5dM
Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4.
www.linkedin.com/posts/sime-curkovic-61617a115_more-supply-chain-salary-data-activity-7019631483912929280-eNkC?
Another awesome post Ms. Labes, thank you. Just curious as to where people think the supply chain function should sit within this chart, especially in regards to the CFO. Assume mfg orgs where direct material purchases (from their supply chain) are 50-80% of each dollar in sales revenue.
www.linkedin.com/posts/sime-curkovic-61617a115_entrepreneur-finance-business-activity-7038161272391036928-VZap?
FYI, per chatGPT:
On avg, what % of each mfg sales dollar is in direct material costs?
The % of each mfg sales dollar that is in direct material costs varies depending on the industry & the product being manufactured. However, a commonly used benchmark is the Cost of Goods Sold (COGS) metric, which includes direct material costs, direct labor costs, & overhead expenses associated w/ production.
According to the National Association of Manufacturers, the avg COGS as a % of sales for U.S. manufacturers was 64.7% in 2020. However, this % can vary sig depending on the industry, w/ some industries such as food/bev having a higher % of direct material costs, while others such as software/technology having a lower %.
In summary, while it is difficult to determine an exact % for direct material costs as it varies across industries & products, a common benchmark is the COGS metric, which is typically around 65% of sales for U.S. manufacturers.
__
Remember, ROI = profit margin * asset turnover rate (ATR).
ATR = sales/total assets
total assets = current assets + fixed assets
current assets = inventory + accounts receivable + cash.
I keep telling my students if they can widen margins (i.e., reduce direct material costs since that is where most of your costs come from) and/or increase ATR, then ROI will go up. So, if you can reduce your total assets without changing sales and/or increasing sales, then ATR goes up. For example, reduce your inventory and your ATR will go up and ROI will go up. If you can do more with less, then your ATR will go up. Arguably (in mfg orgs), no other major/function (SCM) has a greater impact on what goes into the ROI calculation. That is why SCM graduates will likely be immediately bonus eligible and their highest ranking functional area (SCM) leader will have a VP in front of their name.
WHAT IS THE FORMULA FOR ROI?
Return on Investment equals Profit margin * asset turnover rate.
WHAT IS THE FORMULA FOR PROFIT MARGIN?
(Sales - cost of sales)/Sales or
Net Income/Sales
Keep this simple, take your company’s total annual sales revenue and subtract your costs (DM, DL, & OH). Take that number and divide it by your total annual sales revenue. So, how do you widen margins? Cut costs. Where do most of your costs come from? Direct material purchases. This is what they are majoring in. Why do you want to widen margins? To increase ROI (Return on Investment). ROI is PM multiplied by Asset Turnover Rate (ATR). What is ATR? Doing more with less (i.e., reducing inventory, getting customers to pay sooner, buying less expensive stuff…OUTSOURCING?).
Details:
lnkd.in/e9j33EQ
#outsourcing #supplychain #cfo
More advice:
scmtalent.com/podcast-sime-curkovic
In This Episode:
We speak with Sime Curkovic, a Professor of Operations and Sourcing Management at Western Michigan University. Sime talks about his start in supply chain along with how he got into becoming a supply chain instructor. He provides an in-depth dive into the hard skills and soft skills students need in order to best appeal to what employers are looking for. In particular, he shines a light the ability to use data analytics and make better and faster decisions using the cloud-based tools available today vs. trying to work with just color-coded Excel spreadsheets. He sees supply chain as a well rounded major with lots of upside. He also places high value on hands-on, experiential learning. Sime sees hybrid work as the future, but is concerned about totally remote positions that may not provide the best value out of talent. He also encourages students to look at the big picture of where work can develop you rather than simply chasing money. He places very high value on the ability to grow your networks. Sime closes by emphasizing how setting aside time for reading can greatly impact your career.
The new Western Michigan University - Haworth College of Business video series turned out great. Supply chain management student, Alexandra Henson says that attending WMU Haworth was one of the best decisions of her life. Hear from Alexandra.
th-cam.com/video/qbG7AufdzKQ/w-d-xo.html
Some 2022 WMU SCM student success stories…
1. Dylan Sing is a team player as a student athlete on the WMU men's soccer team & as a SCM major. lnkd.in/ggqPmMyw.
2. SCM student wins prestigious scholarship. Madison Dober excels as a woman in the supply chain field, winning a scholarship from the Transportation Club of Detroit.
lnkd.in/d5UEQVJV
3. Pursuing career in supply chain management is a slam dunk for Megan Wagner. Junior Bronco basketball player and integrated supply management major Megan Wagner is making the most of her time in college. lnkd.in/dBiNSWbC
4. Women in supply chain receive expert professional development from one of their own. This summer a group of women majoring in supply chain management participated in a 6-week professional development class facilitated by WMU supply chain graduate, Trisha Terns. lnkd.in/gKu9XcVy
5. Leading the way with Lean Six Sigma: WMU students earn certification. Students in several process management courses earned their Lean Six Sigma Yellow Belt Certifications, demonstrating their commitment to continuous improvement and ability to become business leaders before graduation. lnkd.in/g2VDbEPx
6. Supply chain spotlight: Industry insight and problem solving put to the test. lnkd.in/gxm-T4Xz
7. WMU supply chain program named top program for 13th straight year. lnkd.in/g4Ch_qxY
8. Jessy Mutombo: Going the extra mile. lnkd.in/gU_Mag6i
9. Presidential Scholar, MIRANDA MCNIVEN. lnkd.in/gFG75HSJ
10. Two WMU ISM students, Madison Dober and Alexandra Henson, have been honored with a scholarship from Achieving Women’s Excellence in Supply Chain Operations, Management and Education (AWESOME). lnkd.in/g4VyPcUq
#supplychain #careeradvice #career #supplychainmanagement
More salary data…CIPS Procurement Salary Guide 2022 reveals a 7.4% avg salary increase & the avg salary for all procurement & SCM pros in North America was $111,278. FYI, CIPS has tons of global salary data at: lnkd.in/gxbTMSyx.
Salaries per "ASCM/APICS" $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr. Salaries per "DC Velocity": 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4. From "ISM": 2018 $: lnkd.in/gV53aggX. 2020 $ (right before covid): lnkd.in/gz8WQEhr. 2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt.
People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year."
Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7.
SCM $ Information -
lnkd.in/gn5jM9xt
lnkd.in/gTBMP5dM
lnkd.in/eQvfFMc
lnkd.in/g7YamZCU
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
Placement success of WMU SCM Program - *Median salary was $60K-65K (10% of grads hired on w/ 1 auto OEM at $78K!). lnkd.in/gV4x6GWE
Recently had former students leave their jobs because of $...After thousands of students, I would say the #1 reason my students change jobs is...their boss. Money becomes a factor when they can make >20% elsewhere (#2 on list below).
lnkd.in/gtPvk_mx
FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H
lnkd.in/ghyTtVZM
www.linkedin.com/posts/sime-curkovic-61617a115_74-avg-salary-increase-avg-salary-in-activity-7011781729321451520-gFt9?
Sime (Sheema) Curkovic, Professor, Supply Chain
Western Michigan University
Sample Lectures: What is SCM?
lnkd.in/e9j33EQ
#salary #salaryguide2022 #salarynegotiation #supplychain
Check out #3!
www.linkedin.com/posts/sime-curkovic-61617a115_rawmaterials-priceanalysis-supplychain-activity-6967892897564176384-c8Xl?
Durables had a larger inflation contribution in the U.S. than in any other country in the OECD. “This strength in U.S. durable goods demand during the pandemic & recovery is unusual (hmmm)…Throughout most countries in the sample, consumers behaved as we would expect, cutting their spending on durable goods.” Hmmm. lnkd.in/gCg5vWut
Inflation can occur when prices rise due to increases in production costs, such as raw materials and/or a surge in demand for products/services can cause inflation as consumers are willing to pay more for the product.
In the Fall, we will be looking at raw material market data from multiple sources, we will visualize & analyze historical pricing scenarios, & do some simulating on planned purchases & what-if scenarios against forward price curves. It beats manually updating giant color coded excel spreadsheets. lnkd.in/ghjfe3gh
lnkd.in/gMuhMNf6
lnkd.in/gQZ7HfWb
Stay tuned for some white papers from the WMU SCM program: Some of our alumni are already testing and / or implementing this cloud based service called materialx Decision Support from N-Alpha that allows procurement organizations, finance, and all other organizations that are exposed to raw material pricing changes, stay on top of market pricing from multiple sources and proactively assess its impact on future raw material purchases. It is now also serving as the basis for addressing price indexing implementations (formulas, alerts, etc.) by champions in a few larger organizations. This tool is quick and easy to use to prepare for price negotiations with suppliers, and often returns its investment (which is minimal to begin with) rapidly. This service also allows organizations to replace multiple spreadsheets and email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions and what led to them, and capturing organizational knowledge.
Do you think Price Analysis become a lost art? Aside from the precious metals, every other commodity has managed double-digit increases. See: lnkd.in/g-Np6BnA
What happened to Strategic Cost Management? (I need to teach this way better).
I have asked a lot of SCM managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., CME, COMEX, etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process.
What are buyers to do? Procurement organizations need processes and “tools” to mitigate and negotiate on these requests in a strategic, data-driven manner (and we/I need to do a better job of teaching it).
#rawmaterials #priceanalysis #supplychain
I used to think these salary increases were impressive, but then I saw inflation. Salaries per DC Velocity: 2021 lnkd.in/gESQFNZa vs 2020 lnkd.in/gW-U-KHK vs 2019 lnkd.in/gJquYyT4
www.linkedin.com/posts/sime-curkovic-61617a115_2021-vs-2020-vs-2019-activity-6974325696328327168-xn2k?
From ISM:
2018 $: lnkd.in/gV53aggX.
2020 $ (right before covid): lnkd.in/gz8WQEhr.
2021 $ (deep into covid): lnkd.in/g-SfG93A & lnkd.in/gn5jM9xt.
Had 2 former students this week leave their jobs because of $...After thousands of students, I would say the #1 reason my students change jobs is...their boss. Money becomes a factor when they can make >20% elsewhere (#2 on list below).
lnkd.in/gtPvk_mx
FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H
lnkd.in/ghyTtVZM
People want more money & rewarding work (not paperwork). lnkd.in/g7BwX84c. "The demand for logistics talent has never been greater. The low unemployment rate has created a supply/demand imbalance, spurring employers to raise salaries in a bid to attract and retain top talent. Of the 454 respondents to DC Velocity’s 19th annual Salary Survey, 72%) saw a boost in their total compensation in the past year."
Salaries per ASCM $: 2022 lnkd.in/gtYC5Cnw vs 2021 lnkd.in/gpMvehY5 vs 2020 lnkd.in/gcsrX6tr
Should college grads negotiate a higher starting salary? lnkd.in/gMJYNJkh. Salaries in SCM are going up & already average $10K-$20K higher than entry-level positions in other fields. lnkd.in/gCiYgwS2 There isn’t enough young people working in supply chain - lnkd.in/gtUcJpX7.
SCM $ Information -
lnkd.in/gn5jM9xt
lnkd.in/gTBMP5dM
lnkd.in/eQvfFMc
lnkd.in/g7YamZCU
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
Placement success of ISM Program - *Median salary was $60K-65K (10% of grads hired on w/ 1 auto OEM at $78K!). lnkd.in/gV4x6GWE
Dr. Sime (Sheema) Curkovic, Ph.D., Professor, Supply Chain
Western Michigan University
Sample Lectures: What is SCM?
lnkd.in/e9j33EQ
Follow: lnkd.in/gejqpRrP
#salary #salaryguide2022 #salarynegotiation #supplychain
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.
WSJ: lnkd.in/gMy3nwS2.
The U.S. supply chain accounts for 37% of domestic jobs: 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? lnkd.in/gka9Qqmg
Great read: lnkd.in/gCiYgwS2 - "Salaries in SCM are going up & avg $10K-20K higher than entry-level positions in other fields." SCM, quickest way to six figures- lnkd.in/guSURWFF. Negotiate a higher starting salary? lnkd.in/gMJYNJkh.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
Another study:
Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH
From me: if you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat dubious and suspect. At the undergraduate level, pay less attention to the brand and reputation of the school, and pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.).
#college
Interviewing tips. If you missed it, this is cool (I think)…Google's "Interview Warmup" asks practice job interview questions, then gives feedback on your spoken answers. If you can’t practice w/ another human for an upcoming job interview, Google has a new solution: Talk to its computer.
www.linkedin.com/posts/sime-curkovic-61617a115_google-has-a-new-job-interview-practice-tool-activity-6977773719796547584-qn0w?
Also worth noting: @LinkedIn has a similar feature where you can practice by recording an answer to an interview question and 1) get immediate AI feedback, or 2) send it to someone in your network for personal feedback. lnkd.in/d8YGspvf
Get Instant AI Feedback to Improve Your Interview Answers
Also, I have soooo many students asking about STAR job interviews & online robots…lnkd.in/ePzz3NG and lnkd.in/eZgTxWc
STAR is a structured manner of responding to a behavioral-based interview question by discussing the situation, task, action, & result. Most companies use STAR.
Star Method:
Tell me of a time when you had to work within a group where the members did not get along? How did you handle the situation?
More help:
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Help w/ online interviews & interviewing with robots (it is AI/machine learning technology)...lnkd.in/eKBDsMq
Practice before it really matters (this is mainstream now)...lnkd.in/ekaBK5Q
Note, it is my understanding that these robot interviews are simply being used to weed out students. Also, that does not mean there is anything wrong w/ you if you do not get a face to face and/or onsite interview with a hiring manager. These robot interviews often simply are trying to develop a psychological profile of you & hence the weird questions. Some of these questions might be: what was the first thing you did this morning? Or what would you do if you saw someone bleeding heavily at work? The companies that use these might be trying to see if their corporate culture is a good fit for your profile. So, do not take the results personally, but learn as much as you can & get better at them (because they are not going away).The WMU website below is actually a very good link for that purpose.
WMU has a service through Big Interview that has students get real life practice interview that get recorded & submitted. (I believe this is similar to Hirevue). Students can practice with Big Interview & come talk to HCOB advisors.
lnkd.in/eKBDsMq
How to prep for virtual career fairs: lnkd.in/evKd-VzQ
lnkd.in/eNfUzksJ
Interviewing tools: lnkd.in/gipsXEsK. Thank you WMU for 112 pages of ideas. A Top Business School (take a look at the list): lnkd.in/dn9-BCg
Being job ready…
lnkd.in/ed-ZfanD
What do SCM internships pay? lnkd.in/e8pfXtC
Delay graduation for experience? lnkd.in/ewKu7b_X
93% of WMU grads are employed or continuing education. lnkd.in/gabdesWa
Sample Lectures:
lnkd.in/e9j33EQ
Follow: lnkd.in/gejqpRrP
#careerguide #interviewing #interviewtips #careeradvice
From a student today: “Sorry that I was a little late on my HW. My inbox is flooded with emails, and I didn't see this. My apologies.” Note, never tell your boss this, especially if you shut down an OEM customer that will charge you $22K/minute.
HEY College Students: Do not begin an email message with “Hey” & always finish it with “Thank you.” Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them.
On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s way more).
Will Email Stand The Test Of Time?
lnkd.in/gz9NTye2
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.
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 req'd 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 2023 & 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/Action Verbs.
lnkd.in/ea6gV-K
Thoughts on resumes:
lnkd.in/gxEy9VkH
lnkd.in/gCgi72kX
lnkd.in/gKV5JYhR
Do not underestimate the power of a professional email signature. It might be the first impression you create!
lnkd.in/ge9nGrjx
lnkd.in/evaNVnbv
#resume #career #supplychain
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ. Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
www.visualcapitalist.com/cp/charted-most-popular-u-s-undergraduate-degrees-2011-2021/?
90% of 2023 graduates think college is really worth it. Here’s why they’re right-and politicians and pundits are wrong: lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt.
Free: All Combined Links and Supply Chain Salary Reports
lnkd.in/gtffWe55
#supplychain #careeradvice #salary
Should current students negotiate an INTERNSHIP offer?
lnkd.in/gpBm_m84. How much does a supply chain management internship make? The average salary for a supply chain management internship in the United States is $38,089. Supply chain management internship salaries typically range between $29,000 and $49,000 a year. The average hourly rate for supply chain management interns is $18.31 per hour.
Note, last year the numbers were higher: 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).
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 & lnkd.in/gMy3nwS2.
WMU supply chain grads have a median wage range of...$65-$75K. lnkd.in/dkGr4_uX. Good ROI?
Thousands of SCM internships currently posted - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE.
Perhaps delay graduation for work experience & stay specialized...
lnkd.in/gdr7f9wb
The U.S. supply chain accounts for 37% of domestic jobs: Harvard Business Review. lnkd.in/gPqvNwG5
lnkd.in/gbV_aMT7
Per Fortune, “Over their lifetime, an MBA grad can expect to earn $3 million more than someone w/ only a bachelor’s degree, according to GMAC.” lnkd.in/gka9Qqmg
lnkd.in/gEjXPQG5
lnkd.in/gKhXe8tM
lnkd.in/gMd2vC2T
Great read: lnkd.in/gCiYgwS2 - "Salaries in SCM are going up & avg $10K-20K higher than entry-level positions in other fields." lnkd.in/guSURWFF. Negotiate a higher starting salary? lnkd.in/gMJYNJkh.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
Another study:
Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH
Thank you: NeoMam Studios
Featured Creator
Article/Editing:
· Pallavi Rao
#college #supplychain #internships
#9 caught me off guard (monitoring employee emails?). Data collection is expanding. "Gartner analysis shows that 16% of employers are more frequently using technologies to monitor their employees through methods such as virtual clocking in and out, tracking work computer usage, and monitoring employee emails or internal communications/chat. While some companies track productivity, others monitor employee engagement and well-being to better understand employee experience.” Hmmm.
www.linkedin.com/posts/sime-curkovic-61617a115_supplychain-leadership-supplychainmanagement-activity-6998604191367663617-f3dt?
For more details from Gartner: gtnr.it/3zQI8if
Kind of related:
Most college students do the bulk of their electronic communication via text messaging. Standards for emailing are different, especially in academic settings. Students' emails WILL 100% influence the way their professors view them. On avg, professionals spend 28% of their workday just reading & writing emails, which amounts to an unbelievable 2.6 hours & 120 messages received every day (in SCM it’s probably way more). Will Email Stand The Test Of Time?
lnkd.in/gvWjtr-W
Why are Americans quitting their jobs?
lnkd.in/gtPvk_mx
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.
10 Most Important Leadership Skills For The 21st Century Workplace (And How To Develop Them): lnkd.in/gmJ_GG6H
FYI: You can major in LEADERSHIP AND BUSINESS STRATEGY at WMU (but you have to have another major also, you cannot just major in Leadership per se).
lnkd.in/e5JUSye
Professor (no Dr. allowed) Sime (Sheema) Curkovic, Supply Chain
Western Michigan University
Sample Lectures: What is SCM?
lnkd.in/dSkXQSGY
#supplychain #leadership #supplychainmanagement #careeradvice
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. Watch these major stories on WMU Haworth's major students.
lnkd.in/dHhA8iEX
Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys
FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7
WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major:
lnkd.in/g3CZBrM7
Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples:
WMU named in Princeton Review's 2022 'best business schools'
lnkd.in/gnRvmJwD
Accounting
*Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs.
lnkd.in/esW6ZuD
lnkd.in/eN5wF6b
Supply Chain Management
*Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF
Food & Consumer Package Goods Mktg
*Has earned certification for its category management coursework from the national Category Management Association
lnkd.in/eTjBRP9
Sales & Business Mktg
*Nationally ranked as the best university sales program since 2007
lnkd.in/etcppYi
Digital Mktg & eCommerce
*One of only a handful of its kind in the nation.
wmich.edu/dme
Advertising & Promotion
*Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals.
lnkd.in/ecR2pxu
Entrepreneurship
lnkd.in/emeTCTJ
*Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies.
Human Resource Mgmt
*One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6
Leadership & Business Strategy
*We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses.
lnkd.in/e5JUSye
Military Science & Leadership
*Thank you for your service to our country!
wmich.edu/rotc
Finance & Commercial Law
*Business law, finance & personal financial planning
wmich.edu/finance
Business Information Systems
*Business analytics, Computer information systems, Cybersecurity
lnkd.in/evSdSqU
GRADUATE PROGRAMS
*Princeton Review: one of the best places to earn a Master of Business Administration degree.
#college #career #major #business
Check out #3. You need to study even harder outside the classroom (30-45 hrs/week!). For every hour in class, college students are expected to spend another 2-3 hrs studying. This means if you are a full-time student taking 15 credits, you should be spending another 30-45 hrs a week outside of class. It's like a full time job?! lnkd.in/gseeR7qe. Note, practically all of my students work 15-40 hrs/wk because they have bills to pay. So, with school, they have 80-hour work weeks. I try to remind myself of that.
www.linkedin.com/posts/sime-curkovic-61617a115_this-college-professor-spills-6-secrets-that-activity-6983016132056158210-xiW0?
I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergraduate level.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession with them... lnkd.in/gup9rrDQ
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
Another study:
Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH
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
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
#supplychain #collegesanduniversities #collegestudents #supplychainmanagement #careeradvice
Students: Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Prepping for a job interview? Here's how to answer 'What is my biggest weakness?' Demonstrating self-awareness during an interview is huge. I tell my students to always answer the “what is your weakness” question in the context of having a strategy to fix it (explain what you have done about it, actual RESULTS). For example: lnkd.in/gMtdr92u.
hashtag#college hashtag#supplychain hashtag#internships hashtag#salary
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75K. Watch these "major" stories on WMU Haworth's students.
lnkd.in/dHhA8iEX. Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys. FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7.
WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major:
lnkd.in/g3CZBrM7
Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples:
WMU named in Princeton Review's 2022 'best business schools'
lnkd.in/gnRvmJwD
Accounting
*Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs.
lnkd.in/esW6ZuD
lnkd.in/eN5wF6b
Supply Chain Management
*Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF
Food & Consumer Package Goods Mktg
*Has earned certification for its category management coursework from the national Category Management Association
lnkd.in/eTjBRP9
Sales & Business Mktg
*Nationally ranked as the best university sales program since 2007
lnkd.in/etcppYi
Digital Mktg & eCommerce
*One of only a handful of its kind in the nation.
wmich.edu/dme
Advertising & Promotion
*Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals.
lnkd.in/ecR2pxu
Entrepreneurship
lnkd.in/emeTCTJ
*Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies.
Human Resource Mgmt
*One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6
Leadership & Business Strategy
*We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses.
lnkd.in/e5JUSye
Military Science & Leadership
*Thank you for your service to our country!
wmich.edu/rotc
Finance & Commercial Law
*Business law, finance & personal financial planning
wmich.edu/finance
Business Information Systems
*Business analytics, Computer information systems, Cybersecurity
lnkd.in/evSdSqU
GRADUATE PROGRAMS
*Princeton Review: one of the best places to earn a Master of Business Administration degree.
#college #career #major #business
“Half our member respondents (50%) said they would take a “Data Analytics” class to continue their growth as supply chain leaders. Second on the list was taking a “Finance” class (33%).” lnkd.in/eEEVhWEX. “Knowledge workers were the hardest positions to fill. With the explosion of data in supply chains and the richness of that data, many companies are starting to understand the value of that information. This is causing tremendous demand for people to analyze the data, and companies aren’t able to fill those roles.” lnkd.in/eGp6xXJG.
Do not be a victim of technology. You could make the case that every Business major should minor in Data Analytics. These skill sets would perhaps include: lnkd.in/dQABdsXc
Employers place a premium on -
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
lnkd.in/dtqV-HqE.
Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical. lnkd.in/gBPZJsVq
lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT.
hashtag#supplychain hashtag#finance hashtag#bigdata hashtag#cfo hashtag#dataanalytics
Take this one with a grain of salt, notice #6: Supply Chain Manager…
www.studyinternational.com/news/highest-paying-jobs-without-degree/
· Average earning potential: US$108,141 per year
“Supply chain or logistics managers have never been in greater demand than after the COVID-19 pandemic…As the supply chain industry expands, it offers you great potential to progress in your career…While studying for a degree in supply chain management can help you learn more about the industry, you can start working at an entry-level as a supply chain administrator…As you work your way up management, consider completing professional development courses from the global leader in supply chain management, the Association for Supply Chain Management.”
Also from Indeed…Best Entry Level Jobs With and Without Degree Requirements: lnkd.in/gX8p-fKP.
lnkd.in/gjhtECnF
"Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
Ranked: Median Student Debt for a U.S. College Degree:
lnkd.in/g_Eaq7zu
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021):
lnkd.in/gWTxiFch
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
90% of 2023 graduates think college is really worth it. Here’s why they’re right-and politicians and pundits are wrong: lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
#supplychain #careeradvice #salary
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
Here come the exploding job offers...Some employers are giving students a few days to make decisions on full time job offers several months before graduation. One student asked if that was ethical or even legal. Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5. My students are coming back to school from their summer internships and many of them received full time offers from their internship & many will accept (5-10 months ahead of graduation!).
Note, most companies will only give them 1-2 weeks (or even only a few days!) to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want). lnkd.in/gmFMJfbC.
Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $60K-$70K range & many successfully negotiate up to $65K-$80K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gMJYNJkh
Many of our grads begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5.
In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number.
Advantages of starting career in job rotation for students:
· Rapidly learn about your industry of interest
· Work on a diverse set of projects
· Find a mentor & learn about your potential career trajectory
· See what makes the company great
Also, students are getting lots of job offers when they play the job market...In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? lnkd.in/e85beQ2 Amongst those grads that have reneged on a job offer, 64% claimed that they did this because they didn’t know how to decline. 22% said they did this because they received a better offer elsewhere, while just 9% changed their mind (Milkround). lnkd.in/gZiiskjD.
The Harvard advice:
lnkd.in/ghEYr3Qw
lnkd.in/gc4Kd_SE
Ideas from Yale:
lnkd.in/gggJFADW
lnkd.in/gxkjy3sm
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.
You can follow me at: medium.com/@sime.curkovic
Get ready for the next disruption in your supply chain: no succession planning. *60% of the US workforce is employed by a family-owned business.*78% of all new jobs in the US are created by family-owned businesses. *30% of family businesses make it through the 2nd generation, 10-15% through the 3rd, & 3-5% through the 4th.
lnkd.in/gJ5T8Tzc
www.linkedin.com/posts/sime-curkovic-61617a115_top-10-family-business-trends-of-2022-conway-activity-6998248095301980160-mcNn?
__
I meet a lot of people involved in family owned businesses & they often ask me for material on succession. I reached out to my colleagues in this space & here is some of their recommended reading.
These are my favorites on the topic of family business in general. There are surprisingly few "great" books on family business & succession. Many show up on Amazon, but I have found them to mostly repeat the basics that I think are laid out well in the following 3 books.
1. Generation to Generation: Life Cycles of the Family Business (1997), Kevin E. Gersick, John A. Davis, Marion McCollom Hampton, & Ivan Lansberg, Harvard Business School Press - This book is old & you could probably get it for about $5 on Amazon, but it is my FAVORITE! I think it explains things more clearly than any more recently published book & has the most easily explained tools to implement a successful generational transfer.
2. Family Business (4th edition - other editions might be cheaper and are similar) 2014, Ernesto J. Poza and Mary S. Daugherty, South-Western Cengage Learning. - This is what I use in my family business class. Poza is the Godfather of teaching family business classes and research.
3. Family Business on the Couch: A Psychological Perspective (2007), Manfred F.R. Kets de Vries and Randel S. Carlock with Elizabeth Florent-Treacy, John Wiley and Sons. - There are many psychological aspects of family business and succession this presents many models for how that might look for different families. In fact, many family business consultants are actually trained as family therapists!
Academic journal articles on the family business activities: Family Business Review Journal.
lnkd.in/gnrbtZ8e
www.ffi.org/
FamilyBusiness.org site
lnkd.in/g3XfNhA3
lnkd.in/gwDpAkDh
Other sites:
www.gvsu.edu/fobi/
lnkd.in/gJcvpX7s
lnkd.in/ghPmdXBW
lnkd.in/gzaWWPcs
lnkd.in/g9mzk5C4
lnkd.in/gtZnBMNw
lnkd.in/g2yyrRWj
lnkd.in/gEJVwygY
lnkd.in/gwihnpw4
lnkd.in/gN979MgY
lnkd.in/gfzjsGp5
lnkd.in/g_aE_D8u
lnkd.in/g_muMygd
lnkd.in/g7RpBSfZ
Hope these ideas help! Many of the books also talk about non-family members in top mgmt roles how to motivate them & then help with the transition of power from them to the next generation.
#familyownedbusiness #familybusiness #successionplanning #careeradvice
You could make the case that many business grads should have some of these skills…We studied the top skills in analytics jobs & Python was among the top. The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools. Is Python a must-have skill in the supply chain? 200K vacant jobs on LinkedIn say yes. If you want to specialize in data & become a Supply Chain Analyst (25K jobs on LI) / SCM Data Scientist (500K jobs on LI - that's all).
www.linkedin.com/posts/sime-curkovic-61617a115_machinelearning-deeplearning-datascience-activity-7036306188229099520-b7rb?
A while back, I made these points about our CIS 2650 class (Programming for Data Analytics) and our Business Data Analytics minor in general. We think these points still largely apply.
CIS 2650 is not just a Python class, but instead a Python class for analytics. There is a difference there. In a traditional Python class, people teach Python straight for the whole semester with so much of syntax, data structure, software development, etc. That type of class is mostly designed for CIS and CS. What we do is different. It is Python in a popular analytics platform (more technically speaking, it is Python in Jupyter, which is an analytics platform that data science and business analytics programs do).
· We studied the top skills in analytics jobs & Python was among the top skills.
· The visualization libraries in Python can produce the kind of visualizations not available in Tableau & Power BI. Students will be able to differentiate themselves from other schools.
· Tableau & Power BI recently added Python or Python+Jupyter because certain Python analytics & visualization are not available in Tableau & Power BI. Using them together makes it a powerful analytics solution (e.g., the ability to transform visualization into implementable actions).
·All data scientists stress the importance of Python in analytics programs. Note, “data scientist” is one of the fastest growing career paths with escalating salaries because not enough people are good at this stuff.
·Python are “R” are both number one & two in analytics, but Python is easier to learn compared to R.
·Past experience in our SCM program (3+ semesters of experience in CIS 2650) shows that non-technical students (SCM, marketing, accounting, etc.) are able to handle the content that we designed.
·Python + Jupyter (or its variant) are used in Big Data (Hadoop, Microsoft Azure, Amazon AWS, etc.). It can also be used with/on SAP HANA, IoT, AI, Blockchain, and smart contracts to implement supply chain visibility, and other SC related solutions, etc.
We believe the above points are still valid. Here is some evidence:
·We studied the top skills in analytics jobs & Python was among the top skills.
·Python is among the top skills for data analysts (Skill number 4 in the list): lnkd.in/e6r8_KBy
·lnkd.in/e7xyUYGs
Will tech replace SCM jobs?
lnkd.in/eu7ANq6
See comments.
#python #dataanalytics
Will AI really kill the Business Data Analytics tools we teach? Would you trust the developer who built your software with a 3rd party code generation tool? Maybe. We are not going to stop teaching tools such as Excel in very sophisticated ways. All of our supply chain majors are required to take: CIS 2640 Predictive Data Analytics (Excel on steroids): I get this kind of feedback often…lnkd.in/dQABdsXc.
However, our analytics faculty are on top of this AI wave. They have already built an AI course in our business college (CIS 5550) to cover all kinds of AI for business applications. The course is designed for non-technical students (a perfect fit for SCM types). After this course, AI embedded modules in existing courses will be added.
So, Business Analytics + AI = more SCM success.
Per discussions w/ our CIS faculty, we all agree there is nothing wrong w/ using these code generators as long as you understand the generated code & know how to fix it when needed. Rarely will the generated code be enough to suit your needs. The more realistic scenario is to use the tool to generate the base code & modify it manually for the intended problems.
Many companies PROBABLY do not want their employees to use AI for any calculations like this. So, in all of the above scenarios, skills in our Adv Excel class (and all of our Business Data Analytics classes) are still relevant.
Skills such as:
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, many of our SCM majors are BA minors. CIS courses in our BA minor: lnkd.in/eqiqSMRb.
Also, WMU offers new course on the intersection of AI and writing: lnkd.in/g476QVTS. As AI continues to grow in importance, more companies and potentially universities will likely establish executive roles such as VP of AI to oversee AI strategies...In the meantime, WMU is bringing together AI and the art of writing:
“One of the key aspects of AI is the interaction between human intelligence & the platform-humans assign writing tasks to the technology & the technology generates text. This course is really a new take, with evolving technology, on a very old interaction: speakers and listeners, writers & readers,” says Gogan.
How will AI impact your future?
lnkd.in/g4cci-tA
AI @ WMU: A Deep Dive into the Resources:
lnkd.in/g2EZvtPz
If you’re ready to explore how writing can be used to understand the boundaries between human & AI and learn how you can leverage these emerging technologies to your benefit, this course is for you. lnkd.in/g4cci-tA.
#ai #python #dataanalytics #datascience #supplychain #artificialintelligence
“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
www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2022/08/12/where-cpos-can-aim-ai-prioritized-procurement-use-cases/?sh=596b60002296
From Dr. Rob Handfield: “These [semiautonomous] processes will draw on supplier rating systems, meeting notes, customer input, social media, legal filings, news feeds, employee and customer data, economic indicators, weather data, and multiple forms of data that can be mined to provide alerts that trigger procurement actions and supplier management activities.”
From Sime: AI will likely have the greatest impact on SCM through the 2020s. However, one thing often not mentioned is the attitude of the hiring managers. In talking w/ a colleague, we both agreed that many hiring managers do not have a full understanding of the AI skill sets associated w/ our 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 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 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.
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 at WMU:
lnkd.in/gJetuSjB
#dataanalytics
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/
supplychaindigital.com/operations/top-10-supply-chain-schools
Top 10: Supply Chain Schools
Tough to argue with this list though, just pay attention to ROI. Should You Give Up Your Salary and Go to Grad School? Well, that darn MBA degree still has a great ROI...“Over their lifetime, an MBA grad can expect to earn $3M more than someone w/ only a bachelor’s.”
Great ROI!?...At about 98% of universities that offer MBAs, grads typically made more money 2 years out of school than they had borrowed. That stands in contrast to law schools, where roughly 6% of programs had grads w/ higher median earnings than debt in the same time frame. Note, the MBA route requires careful thought. See: lnkd.in/gGAx4QyK.
Five reasons why CEOs need to drive supply chain excellence from the top:
“Some of the world’s leading CEOs today emerged from supply chain roles. Many have carried over their relentless focus on supply chain excellence into their leadership approach, proving to be invaluable in recent times….A deep understanding of supply chain issues is now a critical skill set for any C-suite leader.” lnkd.in/gVXyzaEn.
I had a student ask: Shouldn’t I major in Finance or Accounting if I want to become a CEO? I said: Well, being able to talk CFO talk is critical to long term success, but you might want to give this supply chain thing some thought…
lnkd.in/ganuUD6r
Note, (I encourage my SCM students to get an Accounting minor): College Accounting to me feels like Supply Chain Finance. The Accounting Minor for SCM Majors seems like a great fit & has grown on me. Long term in your careers, understanding SCM Finance will be critical…lnkd.in/gBPZJsVq.
lnkd.in/guejd-vi.
Two classes in our Accounting minor, good fit for SCM types, right?: 3220: Cost & Managerial Accounting and ACTY 4220: Cost Mgmt & Analytics. FYI, we make EVERY business major take FIN 3200 - Business Finance Decisions. More: lnkd.in/gtUMdsiT.
hashtag#supplychain hashtag#ceo hashtag#csuite hashtag#cfo
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
It's not too late. > 7,000 open summer internships in MI, - lnkd.in/gVsHEZxz & > 20,000+ nationally - lnkd.in/gRKmr7QE. WMU supply chain grads have a median wage range of...$65-$75K. lnkd.in/dkGr4_uX. Offers are coming in…Should 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.
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). 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
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.
Also, most employers will not even look at your resume if it looks like a lazy effort. Aesthetics matter!
Virtual career fairs: lnkd.in/evKd-VzQ
Business externship? lnkd.in/e9aeewPa
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 interviews & online robots…
lnkd.in/ePzz3NG
lnkd.in/eZgTxWc
lnkd.in/eyCv4x5
lnkd.in/eaxVjpK
Myers-Briggs. lnkd.in/ehj3ysR
How to build your brand: lnkd.in/dSAA6wF
Similar to MBTI: lnkd.in/ey4TEUY
lnkd.in/exNDhSv
Help w/ online interviews...lnkd.in/eKBDsMq
Practice before it matters...lnkd.in/ekaBK5Q
Resume advice...
lnkd.in/eWen96qj
lnkd.in/e7utipBi
lnkd.in/eVEHgvk6
Internships, salary data, etc.
lnkd.in/eNfUzksJ
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
“Is the Chip Shortage Over? That Depends…reports seem to indicate that now there is actually too much supply.” Some serious bullwhip effect going on out there. What is the bullwhip effect? lnkd.in/gkwgZs7d. If you are bored...A great watch below on the Bullwhip Effect: lnkd.in/gqy8KFWv.
Also, another good watch, but longer…This WSJ documentary offers a GREAT explanation on the supply chain. lnkd.in/giuVkH-c. Or, if you are really bored:
Do I think students should negotiate an INTERNSHIP or FULL-TIME offer (i.e., a higher salary)? Yes, since some orgs are offering students 20-30% below market value (but only if you know how to negotiate). lnkd.in/gSzFhGvb
There are already > 22,000 SCM 2023 internships posted & > 60,000 business related internships. lnkd.in/ge2JFUmk
Yes, it is now time to start applying & interviewing for summer internships. Companies get budgets for internships approved months ahead of time & they often recruit nationally for the best talent. Some want to get this wrapped up by the end of the year, but you have to start looking now. lnkd.in/gZtrqGVZ
FREE resources for Info on Suppliers, Customers, & Prospects. A former student working in B2B industrial sales, suggested the following list of free websites as a resource for research on competitors, customer supply chains, & prospect contact info. lnkd.in/g2yYPU8t
Industry Certifications & Associations for Various Business 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 ($$$). lnkd.in/gVbQV2q7
I have asked a lot of SCM managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., CME, COMEX, etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process. lnkd.in/gxqx3srw
#supplychain
From NACE: more than 75% of employers who responded to our survey said the job market for Class of 2024 grads is either good or excellent. lnkd.in/gMbUEncX. “Employers still overwhelming value college degrees, with respondents saying that nearly 70% of their entry-level jobs require a degree, & even more said college/university-based certificates have the highest quality compared to those offered by industry, company, & online providers.” ow.ly/Btqi50Q1xja.
Students also have overwhelmingly positive reactions to their college experience, according to NACE research. In fact, more than 90% of respondents to the 2023 NACE Student Survey said that if they had the chance to do it again, they’d opt to pursue a college education...more than half of respondents say they believe their time in college prepared them well or very well for entering the workforce.
lnkd.in/gX8wj2j7
Walmart Plans To Remove College Degree Requirements From Hundreds Of Corp Job Descriptions: lnkd.in/gyNgrqFU. What does a "material" reduction mean? Data?...“
Walz removes 4-year degree requirement for most state gov jobs: lnkd.in/gAB3MWpT.
No degree? No problem: 10 highest-paying jobs without degree requirements: Take this one with a grain of salt, notice #6: Supply Chain Manager...lnkd.in/g_k6q9gv.
· Avg earning potential: US$108,141 per year
Also from Indeed…Best Entry Level Jobs With and Without Degree Requirements: lnkd.in/gX8p-fKP.
lnkd.in/gjhtECnF
"Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
Ranked: Median Student Debt for a U.S. College Degree:
lnkd.in/g_Eaq7zu
Ranked: Most Popular U.S. Undergraduate Degrees (2011-2021):
lnkd.in/gWTxiFch
The top 10 most-regretted college majors - and the degrees graduates wish they had pursued instead: lnkd.in/gtapAxUJ.
Students/Parents: Which college majors pay off? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
90% of 2023 graduates think college is really worth it. lnkd.in/g_Vipjd5.
College majors have a big impact on income. Here are the highest- and lowest-earning fields: lnkd.in/gt8BHiFM.
Here’s where the jobs are - in one chart: lnkd.in/gN-dSc6E.
The 10 highest-paying college majors, five years after graduation: lnkd.in/gTFb6_vw.
Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
“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.” The unemployment rate for Americans w/ a college degree has dropped to 1.9%.
www.linkedin.com/posts/sime-curkovic-61617a115_the-top-10-most-regretted-college-majors-activity-6999711613536673792-f-29?
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 3.6% (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
#supplychain #career
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
www.linkedin.com/posts/sime-curkovic-61617a115_certified-in-logistics-transportation-activity-6995710259143073792-P7uO?
I would highly encourage you to join orgs related to what you are majoring in. Send the message to employers that you plan on being an engaged member of your discipline. Also, these orgs have certs which can be used to externally validate you as a subject matter expert. Send the message to employers that you are aware of these certs & these certs are a part of your career goals.
Further, all these SCM orgs have monthly local chapter meetings w/ guest speakers that you can attend as a student. It is a great way to learn & network. I have had several students attend these mtgs & managers asked for a copy of their resume because these students showed so much initiative. You will also have access to their websites which has job postings & lots of SCM research that will help with your classes. Lastly, they will mail you magazines that tell you what is happening in your field so you can stay current.
My colleagues helped me put this list together for my non-supply chain majors. Industry Certifications & Associations for Various Business Majors: lnkd.in/gVbQV2q7
Here is one of the most popular orgs related to your major (especially if you go into procurement, though all 3 orgs have become very well rounded)...
Institute of Supply Mgmt (used to be National Association of Purchasing Mgmt)-$35/year
lnkd.in/ex3NXgdM
lnkd.in/erPSEX_J
Here is another degree related org that you can join ($40) to network & look for job opportunities. You will be competing against other students from other schools that have these on their resume.
Council of Supply Chain Mgmt Professionals (used to be the Council of Logistics Mgmt)
lnkd.in/emHHiJAY
One more high profile club for SCM students & managers (free for students):
The Association for Supply Chain Mgmt (used to be APICS, the Association for Operations Mgmt)
www.ascm.org/
lnkd.in/eC3sfQxK
lnkd.in/ef8X2xPK
Certified in Logistics, Transportation & Distribution (CLTD): lnkd.in/dt3EteBd
Also, resume advice...
lnkd.in/eWen96qj
lnkd.in/e7utipBi
lnkd.in/eVEHgvk6
FYI, other SCM orgs:
lnkd.in/ec4fYYSY
lnkd.in/ec4fYYSY
www.cips.org/usa/
werc.org/
www.lean.org/
isssp.org/
www.iwla.com/
www.rla.org/
www.nitl.org/
www.mhi.org/
lnkd.in/eFpUvsgC
ibf.org/
www.nam.org/
www.ame.org/
lnkd.in/efBdJkBi
www.trucking.org/
$$:
lnkd.in/eBd-cRr
lnkd.in/enTTEt_m
If you have an interview, get ready for STAR & robots…
lnkd.in/ePzz3NG
Major in MKGT & SCM? lnkd.in/eRWMVP6
#supplychain #careeradvice
FYI: There is this new free thing called ChatGPT,
chat.openai.com/chat
It was founded by Elon Musk (big surprise), and was developed using open source AI. Basically, it is like doing Google searches on steroids. You type in your needs and it gives you back written responses as though a human did all of the research for you. It saves me from having to do 5-20 Google searches and when I use Google, I have to make sense out of it all and connect the dots. For me, ChatGPT will eventually make my need for Google searches obsolete. And that says a lot, because Google is the most used website on the planet (TH-cam is second and is owned by Google).
For me, ChatGPT will help me do my job better, faster, and cheaper. Currently, it is free, but that will not last for long. I assume the game plan is to monetize this right around the time we all starting using it for almost everything.
I just wanted to share this with you on the chance you did not know about it. If you are well versed with this new technology, I would be grateful for any feedback.
It is like talking to a professor and asking questions and the professor has all the answers. Further, the professor provides you with a very well written response to your questions.
Today, I asked it:
"Can you pretend that you are a recruiter and ask me sample interview questions as I am a supply chain major?"
The AI proceeded to ask me 10 brilliant questions...
Certainly! Here are a few sample interview questions for a supply chain major:
How do you stay up-to-date with the latest industry trends and developments in supply chain management?
Can you provide an example of a time when you successfully managed a complex supply chain project from start to finish?
How do you approach problem-solving in the supply chain? Can you provide an example of a difficult problem you had to solve and how you went about finding a solution?
In your opinion, what are the key success factors for a successful supply chain operation?
Can you describe a situation where you had to juggle multiple priorities and meet tight deadlines in the supply chain? How did you handle the pressure and meet the challenges?
How do you ensure the accuracy and reliability of data in the supply chain? Can you provide an example of a time when you had to analyze and interpret large sets of data to make informed decisions?
How do you build and maintain strong relationships with suppliers and partners in the supply chain? Can you provide an example of a time when you had to negotiate with a difficult supplier and how you were able to come to an agreement?
How do you approach risk management in the supply chain? Can you provide an example of a time when you had to mitigate a risk in the supply chain and how you did it?
How do you stay organized and manage your time effectively in the supply chain? Can you provide an example of a time when you had to juggle multiple tasks and projects at once and how you stayed on top of everything?
10. Can you describe a situation where you had to deal with a difficult customer or stakeholder in the supply chain and how you handled the situation?
Thank you. Sime
--
Dr. Sime (Sheema) Curkovic, Ph.D.,
Professor, Operations/Supply Chain, Lee Honors College Faculty Fellow
Western Michigan University, Haworth College of Business
Kalamazoo, MI 49008-5429 | 269.267.3093 | sime.curkovic@wmich.edu
The Western Way: "Better, faster, cheaper" www.wmich.edu/supplychain
WMU: #1 in MI for earnings by graduates
Sample Lectures: What is SCM?
wmich.edu/supplychain/academics/lectures
www.youtube.com/@simecurkovic
WMU...One of nation's best undergrad SCM programs (Gartner); 2nd in technology (SoftwareAdvice); 2nd in top global talent (SCM World)
Vitae: wmich.edu/marketing/directory/curkovic
Connect: www.linkedin.com/in/sime-curkovic-61617a115/
Follow: www.simecurkovic.com/
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
The WMU Supply Chain Graduate Certificate program is now up and accepting students. Information can be found here:
lnkd.in/gcu8E2UN
www.forbes.com/sites/wesleywhistle/2020/08/03/the-payoff-of-certificate-programs/?sh=1ae702163fbe
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.
Organizations are seeking solutions to global supply chain challenges and risks that require expert tools. As a professional, you can develop your supply chain and strategic decision-making acumen with a graduate certificate in supply chain management. You'll elevate your expertise in strategic sourcing, transportation management, processes, and data analytics to improve decision making.
Princeton Review names WMU a ‘best business school’ for an MBA: lnkd.in/gdqkRxMb..
Industry Certifications & Associations for Various Business Majors (for exhaustive list): lnkd.in/gVbQV2q7.
Top SCM certifications: lnkd.in/gA38N97C.
Free: All Combined Links and Supply Chain Salary Reports
lnkd.in/gtffWe55
lnkd.in/g_mR74mr
lnkd.in/gq84MRMj
#education #supplychain #careeradvice #certification #logistics
“The last time the U.S. labor market was this strong was in 1969…Although manufacturing hasn’t seen the highest gains, the sector has one of the lowest unemployment rates across job sectors, at 2.4%. Yet the industry faces an acute labor shortage-if every skilled unemployed worker were to fill open job vacancies, a third of jobs in durable manufacturing would remain open.”
www.linkedin.com/posts/sime-curkovic-61617a115_visualized-the-state-of-the-us-labor-market-activity-7038877132286042112-BobS?
__
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. WMU supply chain grads from 2022 have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic.
lnkd.in/gwfAHdkW
lnkd.in/gyRiv9_x
Entry-Level Supply Chain Positions | Average Salary: $69,000
Mid-Level Supply Chain Positions | Average Salary: $115,000
Senior-Level Supply Chain Positions | Average Salary: $260,000
Also:
Entry Level Manufacturing Jobs | Salary Range: $66,000 - $78,000
Mid-Level Manufacturing Jobs | Salary Range: $110,000 - $143,000
Senior-Level Manufacturing Jobs | Salary Range: $239,000 - $338,000
Source: lnkd.in/ga8Azij7.
Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5
Logistician, $74,750
Logistics analyst, $58,713
Supply chain planner, $64,844
Purchasing agent, $69,600
Purchasing manager, $121,110
Logistics manager, $114,670
Distribution manager, $94,775
Operations manager, $100,780
Business & SCM competencies make up 80% of the fastest-growing skills in this industry; basic technical skills make up the remaining 20%.
Top two:
Microsoft Office/productivity tools
Advanced Microsoft Excel
Technical skills
Among the top and fastest-growing technical skills are:
Data science
Supply chain knowledge
Supply chain management
Project management
Many of our SCM students get a Business Analytics minor, what does that mean? See:
1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau,Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn,Matplotlib,Pandas, & Plotly).
lnkd.in/gxRayD3j
#supplychain #datascience #dataanalytics #college
My students asked for a summer reading list (if they would just read the syllabus). People that read a lot make more $ (2.3x more?!). Both Gates & Buffett make a point to read every day. lnkd.in/gd-J5x5N. Why Reading Business Books May Actually Help You Get More Money: lnkd.in/gum3EzgR.
www.linkedin.com/posts/sime-curkovic-61617a115_7-must-read-business-books-activity-7077620029189459969-QBT2?
Reading List: A great book read for CFO types that want to understand SCM types (or the other way around?): "Supply Chain Metrics that Matter"...The book links corporate financials to SCM.
This video shows 7 business books recommended by Stanford professors:
lnkd.in/g5EGVe_X
Other reads for SCM leaders:
The New Leader's 100-Day Action Plan: How to Take Charge, Build or Merge Your Team, and Get Immediate Results- by George B. Bradt, Jayme A. Check, John A. Lawler
5 Levels of Leadership or 21 Irrefutable Laws of Leadership by John Maxwell. Both are mandatory readings for many F500 SCM teams.
Many are also proponents of the “The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter, Updated and Expanded”, by Michael D. Watkins
This was required reading in Procurement at a F500 org:
Switch: How to Change Things When Change Is Hard by the Heath Brothers
Great feedback on these 3:
Supply Chain Excellence by Peter Bolstorff and Robert Rosenbaum
The Lean Extended Enterprise by Terence Burton & Steven Boeder
The Goal is a management-oriented novel by Dr. Eliyahu M. Goldratt.
Suggested student reads:
- Designing and Managing the Supply Chain by David Simchi-Levi, Philip Kaminsky and Edith Simchi-Levi
- Essentials of Supply Chain Management by Michael H. Hugos
- Logistics and Supply Chain Management by Martin Christopher
- Logistics Management and Strategy: Competing through the Supply Chain by Alan Harrison and Remko Van Hoek
- Manufacturing Planning and Control for Supply Chain Management F. Robert Jacobs, William Berry, D. Clay Whybark and Thomas Vollmann
- Purchasing and Supply Chain Management by Robert Monczka, Robert Handfield, Larry Giunipero and James Patterson
- Purchasing and Supply Chain Management: Analysis, Strategy, Planning and Practice by Arjan J. Van Weele
- Supply Chain Logistics Management by Donald Bowersox, David Closs and M. Bixby Cooper
- Supply Chain Management: Strategy, Planning, and Operation by Sunil Chopra and Peter Meindl
- The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage by Yossi Sheffi
Also:
lnkd.in/gb9nDnju
lnkd.in/gjBhpb9M
lnkd.in/guxyh9Ny
The classics…
HOW TO WOW: FRANCES COLEJONES
THE EXCEPTIONAL PRESENTER: TIMOTHY J KOEGEL
THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE: STEPHEN COVEY
GOOD TO GREAT: JIM COLLINS
THE PRESENT: SPENCER JOHNSON
FISH: STEPHEN LUNDIN
THE SERVANT: JAMES C HUNTER
According to a number of studies, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year.
According to another study in the Economic Journal, those who had over 10 non-school books as a kid earned an average of 21% more than those who did not.
Why exactly do readers earn so much more money? One of the core reasons is that they have a constant stream of new ideas & strategies they can use to help their careers (e.g., developing core competencies), their teams & their orgs.
Where can you find a stream of new & practical ideas to help drive your success?
The easiest & most underutilized method is to learn directly from the world's business experts (e.g., HBR). Many of them have written great books that offer their proven strategies & winning ideas - ideas & strategies that took years to develop & perfect. This information is just sitting there for the taking - ready to propel you to the next level.
A recent study showed that 74.9% of all managers understand they need to read more to stay ahead of the curve, but they simply don't have the time. & this troubling reality is directly impacting their incomes - not to mention their careers!
Western offers new course on the intersection of artificial intelligence and writing: lnkd.in/g476QVTS.
#supplychain #readinglist
Notice how a lot of these jobs are in the supply chain. "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
www.visualcapitalist.com/sought-after-entry-level-jobs-of-2023/
The U.S. supply chain contains 37% of all jobs, employing 44 million people. See:
The Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw.
Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.”
A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.”
The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt.
Nice SCM salary report summary: lnkd.in/dTneTGgw.
#supplychain #jobs #economy
A nice career guide from Harvard to help with resumes, interviewing, getting offers, etc. For more help, pasted below are links from Yale, MIT, & WMU (112 pages of ideas). 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/gCFxVvQQ
hashtag#jobhunting hashtag#networking hashtag#interviewing hashtag#gradschool hashtag#mba
Some employers are giving students a few days to make decisions on full time job offers several months before graduation. One student asked if that was ethical or even legal. Exploding job offers & do you want a full time job to begin in a job rotation? lnkd.in/ervskG5. My students came back to school from their summer internships and many of them received full time offers from their internship & many will accept (5-10 months ahead of graduation!).
www.linkedin.com/posts/sime-curkovic-61617a115_should-college-grads-negotiate-a-job-offer-activity-6990285259237965824-O2FI?
Note, most companies will only give them 1-2 weeks (or even only a few days!) to decide (way before the career fairs start, hmmm). I think we call that an "exploding" job offer. In other words, either accept now or take your chances with the job market. I am not a huge fan of these offers, but they are perfectly legal and employers seem to think it works to their advantage (they get the talent they want). lnkd.in/gmFMJfbC
Should college grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60K-$70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump. lnkd.in/gMJYNJkh
Many of our grads begin their career in a “Job Rotation”. I used to not be a fan of these job rotations (especially for students with tons of experience), but they have grown on me. See for more details: lnkd.in/ervskG5
In general, firms with a rotational program have nearly a 20% higher first-year retention rate than those without a rotational program. I think that is a good number. After five years, firms with a rotational program saw a 10% higher retention rate than those w/o a rotational program. I am not sure if that is a good number.
Advantages of starting career in job rotation for students:
· Rapidly learn about your industry of interest
· Work on a diverse set of projects
· Find a mentor & learn about your potential career trajectory
· See what makes the company great
Also, students are getting lots of job offers when they play the job market...In U.S., 28% accepted a job offer & reneged! 70% of grads are willing to renege? Reneging: Once you commit, quit! lnkd.in/e85beQ2 Amongst those grads that have reneged on a job offer, 64% claimed that they did this because they didn’t know how to decline. 22% said they did this because they received a better offer elsewhere, while just 9% changed their mind (Milkround). lnkd.in/gZiiskjD
The Harvard advice:
lnkd.in/ghEYr3Qw
lnkd.in/gc4Kd_SE
Ideas from Yale:
lnkd.in/gggJFADW
lnkd.in/gxkjy3sm
#careeradvice #salarynegotiation #joboffer #supplychain #salaryguide2022
After a few thousand students, I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere (#2 on list below). FYI: WMU students can major in Leadership (however, they have to have another major also, make sense?). 10 Most Important Leadership Skills For The 21st Century Workplace (& How To Develop Them): lnkd.in/gmJ_GG6H
www.linkedin.com/posts/sime-curkovic-61617a115_why-are-americans-quitting-their-jobs-5-activity-6997166854179876864-xHc-?
"Quiet quitters" make up at least 50% of the U.S. workforce -- probably more, Gallup finds. U.S. employee engagement took another step backward during the 2nd quarter 2022, w/ the proportion of engaged workers remaining at 32% but the proportion of actively disengaged increasing to 18%. The ratio of engaged to actively disengaged employees is now 1.8 to 1.
lnkd.in/gb4WBKvf
U.S. productivity posts biggest EVER drop in 2nd quarter 2022. This is a very complicated calculation, but it is very concerning. Has how we managed the last 2+ years caught up to us? This not only will make inflation harder to beat, it contributes to inflation.
Note, in the quarter after Sept. 11th, & during the Great Recession of 2007-09 & early in the pandemic, American productivity SOARED. Why? Because it’s what we do. Something is amiss in 2022. I think Leadership got us into this, & Leadership can get us out.
For example, here are Four Ways to Energize a Post-Pandemic Workforce (which have largely been downplayed in my opinion):
1. Physical Safety Remains #1
2. Mental Health on the Mind
3. Time Matters Most-Even Above Pay
4. See Me, Hear Me
Working Together To Get Back to Normal:
lnkd.in/gRRntrQ6
Why are people quitting their jobs? Is there a LEADERSHIP void? I would say this is the #1 reason my students change jobs (it's their boss). Money becomes a factor when they can make > 20% elsewhere. From Gartner: If you want to develop and retain strong employees without compromising their health and well-being, Connector managers are your secret weapon. gtnr.it/3A1mDvc
FYI: Our students can major in Leadership (lnkd.in/e5JUSye). It can actually be taught, practiced, & learned (you can get better at it). However, another major is also req’d in our program (you cannot just major in Leadership), make sense?
Great posts & reads:
Flowchart: Are You Working for a Toxic Boss?
lnkd.in/ggp_NaTx
Why are Americans quitting their jobs?
lnkd.in/gRN_tFm3
The five best lessons I’ve learned on leadership and career development
lnkd.in/g2PaXqF9
The Great Resignation turns to the Great Regret as worker needs are not being met, expert says.
lnkd.in/ggNH5YMY
"Promotions are, in part, a function of who has the best relationship with the decider - if you're young, get to the office @smerconish @CNN": lnkd.in/diBcDBM4
Malcolm Gladwell says people must return to the office to regain sense of belonging’.
lnkd.in/gaCbAzSj
#leadership #careeradvice
Required reading for all SCM managers, faculty, & students?
www.linkedin.com/posts/sime-curkovic-61617a115_recommendation-i-rebuild-production-innov-activity-7114216567277568000-fRHj?
Also: “Updated for the first time since 2019-a roadmap that outlines key priorities and goals for federal investments in AI R&D.” lnkd.in/guejXmqK. White House Report on “supply chain resilience” (Warning: this is 250 pages)...lnkd.in/gqsfBkK4.
And do not forget these other SCM reports:
National strategy for ADVANCED MANUFACTURING
lnkd.in/ggdQUi_u
Exactly one year after President Biden signed Executive Order 14017 on America's Supply Chains, the White House unveiled its Plan to Revitalize American Manufacturing and Secure Critical Supply Chains and released six additional supply chain reports in the following areas:
1. The Department of Energy’s (DOE) report on the energy industrial base: lnkd.in/gKaj5nzd
2. The Department of Transportation’s (DOT) report on the transportation industrial base: lnkd.in/gRQxm4VA
3. The U.S. Department of Agriculture’s (USDA) report on the agricultural commodities and food products ecosystem: lnkd.in/gwsVSJHX
4. The Department of Health and Human Services’ (HHS) report on the public health and biological preparedness industrial base: lnkd.in/grNQ5W4y
5. The Department of Commerce (DOC) and Department of Homeland Security’s (DHS) report on the information and communications technology (ICT) industrial base: lnkd.in/gFUdjUNe
6. The Department of Defense’s (DOD) report on the defense industrial base: lnkd.in/gn_C5WQw
Most of these 6 reports are under 100 pages.
lnkd.in/g_dCDWNG
#supplychain #supplychainmanagement #law #government
"…67% of logistics and supply chain professionals are earning more this year than they did in 2022." 2023 Logistics Salary Survey: Strong numbers, high demand...lnkd.in/g-MCCsfa.
WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right? Recently, a student asked if they could earn a great salary in mid-career. I asked what is mid-career & he said by age 30. I smiled, but also told him many of my students are six digits or above by that age. SCM is very opportunistic.
Source: lnkd.in/ga8Azij7.
Entry-Level Supply Chain Positions | Avg Salary: $69,000
Mid-Level Supply Chain Positions | Avg: $115,000
Senior-Level Supply Chain Positions | Avg: $260,000
Also:
Entry Level Mfg Jobs | Salary Range: $66,000 - $78,000
Mid-Level Mfg Jobs | Range: $110,000 - $143,000
Senior-Level Mfg Jobs | Range: $239,000 - $338,000
Students/Parents: Which college majors pay off? Is graduate school a golden goose or a money pit? Are Ivy League degrees usually worth it? From WSJ: lnkd.in/gMy3nwS2.
lnkd.in/gH3jSWKt
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. From me: it is actually higher if you loosely define SCM since every product and/or service comes from & has a supply chain. Note, this is all pre-covid data (so add more to the dollar signs)…Source: lnkd.in/gPqvNwG5
Logistician, $74,750
Logistics analyst, $58,713
Supply chain planner, $64,844
Purchasing agent, $69,600
Purchasing manager, $121,110
Logistics manager, $114,670
Distribution manager, $94,775
Operations manager, $100,780
Free: All Combined Links and Supply Chain Salary Reports
lnkd.in/gtffWe55
#supplychain #salary #data #bigdata
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation, according to Gallup-Purdue polls." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find.
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
Another study:
Students who choose to specialize are having better experiences than those who stay generalist. They also found that professors have the most influence on major. lnkd.in/ex89namH.
“…95% of grads of two-year, four-year, & grad programs are excited about their postgraduate plans, & nine of 10 said that college was worthwhile, they were happy w/ their choice of school & think they chose the right field of study.” See: lnkd.in/gyN2iwXN.
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession w/ them...lnkd.in/gv_vZ4k9. Pay attention to what matters most- not rankings!...especially at the undergrad level.
From me: if you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat dubious and suspect. At the undergraduate level, pay less attention to the brand and reputation of the school, and pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.).
Employers: trust me, you can find world class student talent at the unranked schools that are every bit as good (and you should if they are regional). Aim towards 5+ core schools. Also, you will have less turnover if you stay a little regional. I meet these students all the time and they have sooo much to offer. Employers owe it to themselves to recruit the best talent from multiple schools. Yes, it requires more effort and expense, but it will keep your org fresh and current. I know of one org that exclusively recruits from only two schools and over time the weaknesses of those two schools became this org's weakness (they got behind on data analytics!). So predictable.
A total of 439 graduates from WMU responded to the statement: "I had at least one instructor who made me excited about learning." For details:
lnkd.in/g6k-6Ckj
#college #collegestudents #businesseducation #careeradvice
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).
Young people who work remotely are 'probably not' going to become corporate CEOs, an NYU business professor says: lnkd.in/eeQ3MWGf.
“More than 90% of college students who responded to NACE’s 2023 Student Survey say they prefer jobs with at least some time spent in person. This matches employer hiring trends, which show that only 9% of entry-level hires are fully remote.” ow.ly/MUsN50QC3b6
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.
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
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
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
A nice career guide from Harvard to help with resumes, interviewing, getting offers, etc. For more help, pasted below are links from Yale, MIT, & WMU (112 pages of ideas). 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. But meanwhile, most employers actually expect to negotiate salary - even for a first job - so they build that in. That means, if you don’t even try, you could be leaving money on the table!”
Yale advice: lnkd.in/gggJFADW & lnkd.in/gxkjy3sm. More from Harvard: lnkd.in/ghEYr3Qw & lnkd.in/gc4Kd_SE &
lnkd.in/gC44Baeb
MIT: lnkd.in/g3xqeDyc.
Western Michigan University: lnkd.in/gipsXEsK.
This is a very good one from UNC Pembroke:
lnkd.in/gJA3uub2
Kansas State: lnkd.in/gPNgpmKA.
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.
Students: It is not too late to find a summer internship (not even close). OK, maybe a little close, but I have students that are interviewing as we speak. You just have to keep looking. 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
hashtag#jobhunting hashtag#networking hashtag#interviewing hashtag#resume
Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt.
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7.
Nice SCM salary report summary: lnkd.in/dTneTGgw.
Also, from ASCM/APICS:
lnkd.in/d7WSAWC3
For tons of SCM salary data & a complete copy of the 2023 ASCM/APICS salary report, see: lnkd.in/gp6iMKT9.
2023 Logistics Salary Survey: lnkd.in/g-MCCsfa.
2023 CIPS SCM Salary Data: lnkd.in/gEUUTJHc
ISM 2022 SCM Salary Data: lnkd.in/gJt7_DYT
SCMR Salary Data: lnkd.in/g265-hyy
Coursera 2023 SCM Salary Guide: lnkd.in/grxANayH
A nice SCM Salary Report from HireLily:
lnkd.in/g57MP9Qx
Also, reminder: CPIM is now reconfigured under version 8.0 moving from two courses & two exams to one. See: lnkd.in/gxTdm8Mu.
Free: All Combined Links and Supply Chain Salary Reports
lnkd.in/gtffWe55
#supplychain #salary #career #jobs #jobsearch #supplychainmanagement
An AI just negotiated a contract for the first time ever - and no human was involved
www.cnbc.com/amp/2023/11/07/ai-negotiates-legal-contract-without-humans-involved-for-first-time.html
Also: “Walmart deployed AI-powered negotiations software w/ a text-based interface (i.e., a chatbot) to connect w/ suppliers.” lnkd.in/gF5qT_im. “Walmart, like most organizations with large procurement operations, can’t possibly conduct focused negotiations with all of its 100,000-plus suppliers. As a result, around 20% of its suppliers have signed agreements with cookie-cutter terms that are often not negotiated. It’s not the optimal way to engage with these “tail-end suppliers.” But the cost of hiring more human buyers to negotiate with them would exceed any additional value.”
…data on job postings by non-technology companies tied to skills around artificial intelligence, robotic process automation & data science/analytics…From Gartner: lnkd.in/gcs-xgxV.
How to approach a new technology investment, based on what I have seen in software & professional services: For example,
If a company wanted to get started w/ using RPA, where & how should they begin? lnkd.in/eQYrHUM. FYI, a great post on RPA by Mr. Stankovic: lnkd.in/gM6PcT-m. From me:
lnkd.in/gy5Y6iD8
lnkd.in/g4TJMBAw
Supplier Cost Breakdowns and How To Negotiate Price Increases:
lnkd.in/g-rBER5h
lnkd.in/ggsngSk6
“…could mean that the recent decline in the real prices of oil, minerals, and agricultural products will persist.” However, do not forget (from the FBR of Chicago): Durables had a larger inflation contribution in the U.S. than in ANY OTHER country in the OECD. “This strength in U.S. durable goods demand during the pandemic & recovery is unusual (hmmm, stimulus?)…Throughout most countries in the sample, consumers behaved as we would expect, cutting their spending on durable goods.” Hmmm. lnkd.in/gCg5vWut
lnkd.in/gSPdx5fc
www.project-syndicate.org/commentary/slower-growth-higher-interest-rates-lower-commodity-prices-by-jeffrey-frankel-2022-08
But then again: U.S. Supplier Inflation Logs Slowest Pace Since Last Fall. lnkd.in/gu4g9b2R
This Fall, our students will be looking at raw material market data from multiple sources, we will visualize & analyze historical pricing scenarios, & do some simulating on planned purchases & what-if scenarios against forward price curves. It beats manually updating giant color coded excel spreadsheets. lnkd.in/ghjfe3gh
lnkd.in/gMuhMNf6
lnkd.in/gQZ7HfWb
Stay tuned for some white papers from the WMU SCM program based on the following price analysis & strategic cost mgmt research...Some of our alumni are already testing and / or implementing this cloud based service called materialx Decision Support from N-Alpha that allows procurement organizations, finance, & all other orgs that are exposed to raw material pricing changes, stay on top of market pricing from multiple sources & proactively assess its impact on future raw material purchases. It is now also serving as the basis for addressing price indexing implementations (formulas, alerts, etc.) by champions in a few larger orgs. This tool is quick & easy to use to prepare for price negotiations with suppliers, & often returns its investment (which is minimal to begin with) rapidly. This service also allows orgs to replace multiple spreadsheets & email threads with one tool that tracks pricing, facilitates collaborative decisions, revisiting past decisions & what led to them, & capturing organizational knowledge.
See from Jan 2022: lnkd.in/g-Np6BnA. Aside from the precious metals, every other commodity has managed double-digit increases during covid (are things really slowing down now...in the U.S.?). What happened to Price Analysis & Strategic Cost Management? (I need to teach this way better).
I have asked a lot of SCM managers how they “prepare” to negotiate price increase requests from their suppliers. In particular, I was curious about how and where they get their data from (i.e., CME, COMEX, etc.). Many said their suppliers provide that information. I am not convinced that using data from your suppliers is a form of “Preparation” for the negotiation process.
What are buyers to do? Procurement organizations need processes and “tools” to mitigate and negotiate on these requests in a strategic, data-driven manner (and we/I need to do a better job of teaching it).
#rawmaterials #priceanalysis #supplychain
Hmmm. The Street: “For all you parents out there: want your kids to get filthy rich? One path to great wealth is going to a first-class university. That’s what a study from global research firm Altrata shows. Here is its ranking of the top 10 U.S. universities in terms of the number of graduates enjoying a net worth of at least $30 million. Altrata calls that “ultra-wealthy” (seems like a fair definition, right?).”
www.linkedin.com/posts/sime-curkovic-61617a115_the-path-to-achieving-high-wealth-leads-through-activity-7011393706373120000-DGQ2?
Secretary Miguel A. Cardona called college rankings “a joke,” & took aim at selective colleges’ obsession w/ them...lnkd.in/gv_vZ4k9. I have been talking to high schoolers & the parents also appear to be too focused on rankings. Pay attention to what matters most- not rankings!...especially at the undergrad level. (Yes, I still wish my school was ranked higher than #285). UM & MSU & Michigan Tech ranked very well, congrats to them. lnkd.in/gc27Ne9p
"Students who are able to build strong relationships with professors are far more likely to find engaging work after graduation." lnkd.in/gSuzhcjP -those who believe a professor cared about them as a person, made them excited about learning, & encouraged them to pursue their dreams had more than double the odds of being engaged at work & experiencing a higher degree of well being overall, these studies find. lnkd.in/g-v3-iTk
…only 3% of grads reported having the kind of positive experiences in school that these studies find to be valuable.
At WMU, we do better than 3%. Why? My answer: faculty are obsessed with student success (that’s what you should be looking for as a student). lnkd.in/gK_PQdYh
From me: if you are a student majoring in something, but your school is not on some list, do not worry about it! I am 99.9% certain that you are still getting a world class education that is extremely comparable to the schools on the list. In fact, in some ways, you might be getting a better education (i.e., smaller classes, closer mentors, better ROI maybe, etc.). Note also, all rankings are somewhat dubious and suspect. At the undergraduate level, pay less attention to the brand of the school, & pay attention to your major (i.e., does demand exceed supply which means you will have multiple job offers upon graduation) and make great decisions while you are in school (i.e., work experience, networking, grades, passing a drug test, build your brand, etc.).
FYI: “The majority of ultra-wealthy individuals already reside in the U.S., but 2021 saw a staggering increase of 30,470 people bring added to this exclusive ultra-wealthy category in the country.”
lnkd.in/gU84FAHG
In 2021, America’s top 10% of income earners made at least $129,181 a year-more than 2x the U.S. avg. America’s top 10% works 4.4 hrs more each week than those in the bottom 10%. Globally, the top 10% in 27 countries surveyed are actually working around 1 hr less each week than the bottom 10%.
lnkd.in/gBDnqMse
#supplychain #collegesanduniversities #careerguide
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.
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
Young people who work remotely are 'probably not' going to become corporate CEOs, an NYU business professor says
www.yahoo.com/news/young-people-remotely-probably-not-154352191.html
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.
EMPLOYERS: be ready to negotiate this part of the job as it is a seller’s market at 3.9% unemployment and even less for people with college degrees (and they will play hardball).
How to effectively join LinkedIn. I have former students that found new jobs & they were not even looking (i.e., poaching)! lnkd.in/grVNTF2V.
The 8 Biggest Mistakes People Make With Their LinkedIn Profile And How To Avoid Them: lnkd.in/gxUSZtEV.
Should you get creative with your resume? Experts decide whether you’re more likely to land your dream job: lnkd.in/gKDeb-Vv.
New to the job market? These 5 ‘soft’ skills could give young workers an edge, according to LinkedIn: lnkd.in/gV6bUQ64?.
LinkedIn and Resume Insights for Supply Chain Students! lnkd.in/gdTHCKQS.
lnkd.in/gX_8rQhZ
A SKILLS first job market (not degree?)? Hmm. That makes the Skills section of your resume and LI profile a little more important. lnkd.in/gPtgqS8c.
Believe it or not: It is actually now time to start applying & interviewing for 2024 summer internships! lnkd.in/g6CH_pYv.
Current data (2023) from NACE: FIGURE 1: AVERAGE SALARIES BY DISCIPLINE / BACHELOR’S DEGREES and FIGURE 2: TOP DEGREES IN DEMAND (BACHELOR’S DEGREE LEVEL). lnkd.in/gdBGzP_H.
I have been trying to explain Supply Chain Management to high schoolers. It’s not that easy. Parents like to see this: the number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022: lnkd.in/gyWH5gxt. The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review: lnkd.in/gbV_aMT7. WMU SCM grads have a median wage range of $65-$75K. lnkd.in/dkGr4_uX. Good ROI, right?
th-cam.com/video/0F0B2H2G5LI/w-d-xo.html
Professional experience that pays well while in college?...Thousands of new internships posted, to name a few - lnkd.in/gVsHEZxz & lnkd.in/gRKmr7QE & lnkd.in/gmMH5myb. What do internships pay (never work for free)? The going rate appears to be $18-30/hr. See: lnkd.in/g6CH_pYv & lnkd.in/g4znXYHu. Being job ready in the post covid market & beyond. lnkd.in/eZGZbkP & lnkd.in/g8cAcBh3.
Not becoming a victim of technology?...The ultimate SCM minor…Business Data Analytics: lnkd.in/eqiqSMRb & lnkd.in/gwHynAZB & lnkd.in/dtqV-HqE.
Are students satisfied with their college experience?...Students have overwhelmingly positive reactions to their college experience: lnkd.in/gR5pNeDe.
How To Become A Supply Chain Manager: Salary, Education Requirements And Job Growth: lnkd.in/gtXUfBJg.
Goals of an internship (it’s not job shadowing): lnkd.in/gMtdr92u.
Women in Supply Management: lnkd.in/g8bpMTq9.
If you look at this 2020-2030 job growth chart closely, all things supply chain related scored VERY well: lnkd.in/g8n-dCz2
hashtag#supplychain hashtag#career hashtag#college hashtag#jobs .
Wow, the Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw.
Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.”
A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.”
The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt.
The U.S. supply chain accounts for 37% of all domestic jobs, according to the Harvard Business Review. lnkd.in/gbV_aMT7.
Nice SCM salary report summary: lnkd.in/dTneTGgw.
#supplychain #jobs #economy
A great weekend read, should SCM students learn this?…”the importance of including location analytics in the standard business school curriculum-especially in the field of supply chain management.” Access via: ow.ly/kMci50PWU1K. Are Supply Chain professionals using ArcGIS Pro technology?
Do you think our SCM students should learn this? ArcGIS is a technology that can help companies manage risk.
I recently had a GIS analyst reach out to me & ask: Is there a business geography specialty group that addresses supply chain issues? Where could people find GIS supply chain problem sets?
I reached out to a GIS geography colleague & the feedback was…There is a Business Specialty Group of the American Association of Geographers (AAG). lnkd.in/gS98FvHC
There are a lot of interesting examples of SCM issues & GIS at the ESRI website. lnkd.in/ge9FqbKH
Some of the interesting best practices involve dashboard type views of interruptions: lnkd.in/gMrb-pfy
There are also advanced operations in ArcGIS Enterprise: lnkd.in/g3ZBxhxV
As for problem sets, there are often interesting datasets and suggestions for solving complex problems on GitHub. A quick looks shows a lot of Python type modeling for SCM on GitHub.
In terms of teaching, most of these topics are beyond our intro level GIS course. However, we also teach GEOG 5690: GIS Workflows, where students learn more about dashboards & origin-destination analysis, & work on 4 mini-projects w/ a data type of their choosing. We will teach a Project Mgmt & Programming course (GEOG 4670/6670) that could also be useful to SCM students.
Here are some entries in the GIScience Body of Knowledge/encyclopedia that might be helpful to have students read:
lnkd.in/gsPEeBYt
lnkd.in/gKsXcT_X
lnkd.in/g5M-B88t
Also, if you want to find where the business geographers publish, they typically aim for 'applied geography' journals:
lnkd.in/gMxzs3UX
lnkd.in/gaUAszSX
_
Our Intro GEOG 3010 - Fundamentals of GIS
An intro course that covers the use and application of geographic information systems (GIS). It combines an overview of general principles of GIS & practical experience in map creation & the use of spatial information, including fundamental aspects of measurement, representation & analysis. Intro GIS focuses on the basics of working w/ both vector & raster data, as well as the societal aspects of GIS (emerging uses, interaction w/ new technologies, data standards, public access to information).
We upgraded the course to ArcGIS Pro, which works better in online environments; we are going to have a dedicated Mac-user office hour period, for Mac users that will have to use remote desktop or some kind of Windows-on-Mac system; AND we are using COVID and racial disparities data through the semester so that students really get a handle on some of this real data w/o relying on the interpretation of others.
See comments:
lnkd.in/g4Nk4ddz
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, if a company does not know your market value. There are already>10,000 SCM 2023 internships posted: lnkd.in/gRKmr7QE.
lnkd.in/gt98WuvK & > 16,000 business related internships. Perhaps delay graduation for work experience & stay specialized...lnkd.in/gdr7f9wb
lnkd.in/gARup7zr
lnkd.in/g4-csGUy
www.linkedin.com/posts/sime-curkovic-61617a115_goals-of-a-supply-chain-internship-or-co-op-activity-6994340284243345408-XO44?
Top 100 Internships
lnkd.in/g8N_p43w
Should current students negotiate an INTERNSHIP offer (i.e., a higher salary)? Yes, since many orgs are offering students 20-30% below market value. The avg supply chain internship is $44,918/yr, or $21.6/hr. People on the lower end, bottom 10%, make $37K/yr ($17.80/hr), while the top 10% makes $54K ($25.96/hr).
lnkd.in/gpBm_m84
> 1/2 our students are making over $20/hr. The program avg is around 20-22/hr. You can work in food customer service for $16/hr. Fed Ex is hiring manual part time laborers for 22.50/hr. You can collect unemployment & make around 16/hr. Why would any org want to pay 20-30% below avg?
Should grads negotiate a job offer (i.e., a higher starting salary)? Yes, but only if you know how to negotiate. I do have students that get offers in the $50K-$60K range & many successfully negotiate up to > $60-70K. That is a 10-30% bump before you even start! Many people have to work a few years to get that bump.
lnkd.in/gB9bTdgJ
lnkd.in/gW5uwkkE
Our avg is $65K. You need to position yourself w/i that context. Are you above avg? Why? And, does this org want someone that is above avg? Probably. If someone asked me what the avg WMU SCM student looked like, I might say: they have around a 3.3-3.4 GPA, 2-3 internships, a very relevant minor like Business Analytics, etc. So what if you have a 3.1 GPA & only one internship? It's OK! You can still get the best jobs out there! Maybe you interview great, maybe you really connect w/ the corporate culture, maybe you have stronger soft skills, etc. What if you have a 2.7 GPA & have to take a job w/ a mom & pop 3PL for $48,600? What's wrong w/ that?! Yes, there might be consequences for not getting more experience, for not having a higher GPA, for not having a BA minor, etc., but, it is America. You get 2nd+ chances.
Also, the top 20% in our program are getting offers 64K-78K from the F500 types. Not all orgs can compete against these offers & try not to focus too much on $. The $ will come no matter what if you have a challenging job. Try to make an assessment based on things beyond $. I know it is hard to do but you have to think long-term, & long-term the $ will come.
The most important part of your long term earning potential is not your starting salary, but what your resume will look like 3-5 years from now. In other words, what will you accomplish & what will you be doing in your first job during the first 3-5 years of your career?
#joboffer #negotiation
14%?!...“Only 14% of procurement leaders express confidence in their talent’s ability to meet the future needs of the function, according to a survey by Gartner, Inc. The finding comes as business acumen and technology/data competencies have rapidly grown in importance over more traditional procurement skills.”
www.linkedin.com/posts/sime-curkovic-61617a115_gartner-says-only-14-of-procurement-leaders-activity-7135983119236567041-aI_U?
This is one reason that we created our new AI course - to create AI awareness and skills, and it is designed for non-technical majors. We will be offering that course again in spring 2024 semester. Per conversations with our CIS faculty…lnkd.in/gJ-YjJKD.
Do not be a victim of technology! You could make the case that every Business major should minor (or double major) in Data Analytics. These skill sets would perhaps include: Employers place a premium on - 1. Advanced Excel (power query & pivot) & macros;
2. Data visualization (Tableau, Power BI & python w/ seaborn & matplotlib);
3. Data mining/RapidMiner, machine learning & data science;
4. Python & Jupyter notebook (data analytics & statistical libraries such as pandas, numpy);
5. Relational data models (Excel data model);
6. Graphic & statistical libraries (Seaborn, Matplotlib, Pandas, & Plotly).
lnkd.in/guvjPb_V
Common theme: BIG DATA is not going away: lnkd.in/g5UizdeN.
In our CIS 3640 class we focus on three major areas: (1) Advanced excel functions, Power Query, Power Pivot , & Data Models, (2) Excel Macros, & (3) Visualization. lnkd.in/gxHRzjkE
lnkd.in/eqiqSMRb &
lnkd.in/gXYSQKc7.
CIS 4640 - Business Data Mining
This course focuses on the theoretical understanding & practical applications of data mining as a decision support tool. lnkd.in/geBPVWAD.
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
Yes, WMU supply chain grads from 2022 have a median wage range of $65-$75,000. Watch these major stories on WMU Haworth's major students.
lnkd.in/dHhA8iEX
Parents: 93% WMU graduates are employed or continuing education. lnkd.in/gPxaBnys
FYI, from 2021, WMU salary report by every major: lnkd.in/gUueUNe7
WMU: No. 1 in Michigan for earnings by graduates from all backgrounds, Salaries & job placement by every major:
lnkd.in/g3CZBrM7
Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 5% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. Examples:
WMU named in Princeton Review's 2022 'best business schools'
lnkd.in/gnRvmJwD
Accounting
*Select 1% of business schools worldwide that have additional specialized AACSB accreditation for their accountancy programs.
lnkd.in/esW6ZuD
lnkd.in/eN5wF6b
Supply Chain Management
*Nation's best undergrad SCM program (Gartner); 2nd in SCM technology (SoftwareAdvice); 2nd in top global SCM talent (SCM World): lnkd.in/eprKKbF
Food & Consumer Package Goods Mktg
*Has earned certification for its category management coursework from the national Category Management Association
lnkd.in/eTjBRP9
Sales & Business Mktg
*Nationally ranked as the best university sales program since 2007
lnkd.in/etcppYi
Digital Mktg & eCommerce
*One of only a handful of its kind in the nation.
wmich.edu/dme
Advertising & Promotion
*Among only 10 percent of advertising programs housed within a university business college, offering the best mix of marketing, communication & business fundamentals.
lnkd.in/ecR2pxu
Entrepreneurship
lnkd.in/emeTCTJ
*Starting Gate is a student business accelerator program that gives students rich and valuable resources to develop their startup companies.
Human Resource Mgmt
*One of a few programs in the state of Michigan recognized by the Society for Human Resource Management as having a curriculum consistent with their Body of Competency and Knowledge guidelines.lnkd.in/e75KnJ6
Leadership & Business Strategy
*We undertake large scale consulting projects, executive mentorship for students, designing “learning spaces of the future" & supporting students in acquiring & operating small businesses.
lnkd.in/e5JUSye
Military Science & Leadership
*Thank you for your service to our country!
wmich.edu/rotc
Finance & Commercial Law
*Business law, finance & personal financial planning
wmich.edu/finance
Business Information Systems
*Business analytics, Computer information systems, Cybersecurity
lnkd.in/evSdSqU
GRADUATE PROGRAMS
*Princeton Review: one of the best places to earn a Master of Business Administration degree.
#college #career #major #business
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.
Notice how a lot of these jobs are in the supply chain. "Most Sought-After Entry-Level Jobs Without a Degree: #1 Inventory Manager. The demand for skilled inventory managers in warehouses and companies post-pandemic has doubled the position’s job share in a year. Note, nearly 65% of the U.S. working population does not have a four-year degree."
www.visualcapitalist.com/sought-after-entry-level-jobs-of-2023/
The U.S. supply chain contains 37% of all jobs, employing 44 million people. See:
The Harvard Business Review (Delgado & Mills) called this right 5 years ago in 2018 (pre covid), well done. Why are supply chain industries the source of so many high-paying jobs and so much innovation? lnkd.in/grs9FUsw.
Degree program fuels supply chain and logistics industry’s workforce of the future: lnkd.in/g65xNd9M. “Its bachelor’s degree gives students the chance to boost their average annual pay in the field to $87,280, compared with $49,689 for a high school graduate.”
A Look at the U.S. Supply Chain Economy: lnkd.in/gWuBsbyw. “It’s worth noting that supply chain traded services have the highest wages in the supply chain economy, averaging at $80,800 annually - 3 times higher than traditional “service” jobs.”
The supply chain economy: A new industry categorization for understanding innovation in services (Delgado & Mills): lnkd.in/g3XCQvVQ.
In 2020-2021, SCM was the 89th most popular major nationwide with 10,986 degrees awarded. lnkd.in/gBA7id7M. Top Degrees in demand, current data (2023) from NACE: lnkd.in/g3kM_sZ6.
Great time to be a supply chain student. Deloitte expects U.S. manufacturers to have 2.1M unfilled jobs by 2030, & the BLS is projecting that logistics employment will grow by 7% annually through 2026. lnkd.in/gQ4cTdiy
"The number of US job postings for supply chain managers on LinkedIn more than doubled between 2019 & 2022, according to data shared w/ the Financial Times." lnkd.in/gyWH5gxt.
Nice SCM salary report summary: lnkd.in/dTneTGgw.
#supplychain #jobs #economy