Attention, supply management professionals: Is there a young (30 or under) "rising star" at your company who is making a big impact? ThomasNet and the Institute for Supply Management are inviting the industry to recognize these achievers as "30 Under 30 Rising Supply Chain Stars." The nomination deadline for the second annual recognition program is Oct. 30, 2015.
We've passed the mid-year mark, which means that the budgeting process is upon us. For CPOs and procurement managers, this isn't exactly a high point of the year - few enjoy taking an annual break from the work at hand to focus on the budget. And of course there is added pressure to finalize strategic plans that align with an effective budget.
What would it take for manufacturing businesses to operate like the best online retailers? How can such companies turn orders around in a day, deliver them with greater customization, and replenish stocks seamlessly? These aren't idle questions for the top teams of manufacturers, because customers, across both B2C and B2B markets, are more fickle now; service demands are steadily notching upward; and economic volatility shows no sign of abating. Supply operations often struggle to keep pace, as many aren't sufficiently agile to capture fleeting upside opportunities or to mitigate fast-moving risks.
Analyst Insight: Now that ERP for cloud has crossed the chasm, organizations have a multitude of choices to select the correct software to run their business. New vendors are rapidly emerging in the ERP cloud market. This is especially so within the the SMB market. Vertical specific solutions will disorient organizations by providing too much choice and unnecessarily increase selection time-lines. – Dylan Persaud, Managing Director, Eval-Source
When we talk about the Internet of Things, most people think about the flood of wearables and connected devices that will be put into the hands of the consumers. This same trend, though, has the potential to transform, in good ways, supply chain management.
In recent decades, companies in sectors from automotive and high-tech to retail and consumer packaged goods have come to realize that their supply chain is much more than the cost of getting products into customers' hands. These companies understand that it is the supply chain that translates corporate strategy into day-to-day interactions both within and beyond the organization. Ultimately, it is the supply chain that satisfies or disappoints their customers.
Women account for 37 percent of students enrolled in university supply chain courses, but only 5 percent of top-level supply chain positions at Fortune 500 companies are filled by women, according to SCM World. In comparison, women hold 15 percent of all executive officer positions at Fortune 500 companies.
On September 30, 2014, supply chain education will take a major step into the digital age with the start of SCx, an online educational program developed by the MIT Center for Transportation & Logistics (MIT CTL) for thousands of professionals across the globe.
There is a sea change occurring in global supply chains and operations, driven by a series of massive environmental shifts – digitization, the "Internet of Things," geopolitical cost and risk structures and, less noticed by senior executives but every bit as important, a huge increase in the power of customers, whether consumers or businesses. This last factor is driven by social media, ubiquitous connectivity and increased communication, and is resulting in decreased brand loyalty and increased demands and expectations across a wide range of service and experience. To respond to, and be ahead of, these changes, companies need to be agile, resilient and low-cost while simultaneously driving increased customer retention and acquisition. No longer is the question "do we prioritize customer intimacy or operational effectiveness?" Now everyone needs both!
