As businesses outgrow the traditional techniques of acquiring raw material, processing it, and delivering the products across the globe, the importance of the supply chain has significantly increased. In the olden times, the supply chain wasn’t a term people would ponder upon, let alone study it on a professional degree level.
Times have changed now, and supply chain jobs are one of the most significant roles in today’s market. However, is there a shortage of supply chain jobs? Or are we experiencing a lack of talent?
According to Harvard Business, the supply chain operations employ roughly 44 million people. The supply chain in the United States is undeniably crucial to the country’s economy. Technology in plants, fulfillment centers, procurement, production management, and upkeep removes employment as the industry becomes increasingly computerized. However, total hiring increases, and senior executives believe identifying and recruiting the best talent is more complex than ever.
Below are three main reasons why we are having difficulty locating qualified candidates;
Impact of the Pandemic:
For years, the supply chain business has evolved due to technological advancements and automation. However, due to the disruption brought by the COVID-19 pandemic, supply chain adoption is rapidly expanding. During the pandemic, 49% of supply chain executives invested in digital techniques to make their businesses more flexible and responsive.
Higher competitive situations, escalating customer service standards, and supply chain disruptions are all issues in the global economy. The supply chain is becoming more computerized to satisfy the industry’s changing expectations. The supply chain industry is at the forefront of new advances aimed at increasing efficiency. As the sector grows, robotics and technology have enhanced efficiency and potential.
Misconception Regarding The Term:
The supply chain profession has a bad reputation. Many individuals are confused about what the word “supply chain” means. A simpler explanation would be; the amount of work that runs a product’s manufacturing, transportation, and storage. Even though technology innovation is a fundamental driver in the supply chain business, younger professionals see themselves trapped in a dull, unfulfilling work with no room for progress. This is one of the many reasons why the youth shows little to no interest in enrolling in436t a supply chain management degree. Hence, companies have to provide workshops and training to selected individuals later on.
One explanation for this is that corporations aren’t putting forth the same public relations effort to promote the supply chain as they do other business sections. The simple truth is that workers of both generations are unaware of the opportunities, remuneration, and professional progress that a supply chain career may provide.
More Opportunities, Lesser Qualifications:
One significant difficulty in talent shortage is the quantity of talent and expertise required from each employee. Today, every company’s ideal employee possesses tactical and operational knowledge and analytical abilities. This combination is challenging to locate, according to many businesses. Leadership, strategic thinking, innovation, and high-level analytic and technological talents are all required in the present and future. The increased demand for workers with specific skills has highlighted the talent gap.
There are more positions than the talent available to fill them. In addition, as the industry evolves, talent needs to alter. Today’s climate necessitates that specific professions such as procurement involve knowledge of concerns such as commerce, taxation, and customs, as well as corporate social responsibility management. All supply chain components have become much more complex, necessitating the dynamic and adaptive behavior of those who operate in the business. Long hours and international travel are required in this job.
By now you must have a prominent idea about the importance of supply chain talent and the lack of it in today’s market. So, if you belong to Gen Z and are looking for a way to excel in your professional career, invest in the supply chain management degree as much as possible.