by Fronetics | May 11, 2015 | Blog, Strategy, Supply Chain, Talent
Demand for supply chain professionals exceeds supply by a ratio of six to one. Looking forward, it appears that demand for supply chain professionals will only increase. The U.S. Bureau of Labor Statistics estimates that demand for supply chain talent will increase by 26 percent between 2010 and 2020 – a growth rate that is twice as fast as 14 percent of all occupations.
In response to the demand for supply chain professionals, universities have introduced undergraduate majors, MBA concentrations and even entire degree programs dedicated to procurement, inventory management and global supply-chain strategy. The Wall Street Journal has gone so far as to declare supply chain management the “hot new MBA.”
The University of New Hampshire Peter T. Paul College of Business and Economics is one university which offers MBA courses focused on supply chain management. Students in the school’s Supply Chain Management MBA course learn how to design, plan, and operate supply chains for competitive advantage; develop an understanding of how the key drivers of supply chain operations can be used to improve performance; and develop knowledge of logistics and supply chain methodologies and the managerial context in which they are used.
For the second year, Fronetics Strategic Advisors has had the opportunity to work with students in the school’s Supply Chain Management MBA course. Our work with the students focused on the the role and importance of content for companies within the supply chain industry.
This post begins a series which will include topical supply chain management articles written by MBA students. The students are inclusive of full-time graduate students and professionals who attend the MBA program part-time. The articles point to the diversity of this group of students as well as to the student’s breadth of knowledge on supply chain issues.
Thank you to the students and to Russell Miles, faculty lecturer in the Decision Sciences Department at the University of New Hampshire’s Paul College of Business and Economics. We enjoyed working with you and look forward to working together again next year.
by Fronetics | May 5, 2015 | Blog, Marketing, Social Media, Strategy, Supply Chain
Content marketing has become a priority for many companies in recent years. But connecting branded digital content with the right audience can be tricky. A new report from Fronetics Strategic Advisors examines the relationship between social media and content distribution. The report reveals which social media networks are the most popular for content distribution and which ones add the most value for brands. Take a look at some of the key findings of the report below and then dig into the full report.
Where you should distribute your content:
by Fronetics | May 5, 2015 | Blog, Marketing, Social Media, Strategy, Supply Chain
Content marketing has become a priority for many companies in recent years. But connecting branded digital content with the right audience can be tricky. A new report from Fronetics Strategic Advisors examines the relationship between social media and content distribution. The report reveals which social media networks are the most popular for content distribution and which ones add the most value for brands. Take a look at some of the key findings of the report below and then dig into the full report.
Where you should distribute your content:
by Fronetics | Apr 30, 2015 | Blog, Strategy, Supply Chain, Talent
Why “sexy” is a perfect fit for the supply chain.
Why do we apply the word “sexy” to things that are non-sexual, like, for example, the supply chain? Sexy is synonymous with the words exciting, appealing, fascinating, desirable, provocative. It’s a buzzword for something popular and attractive. When people think of the supply chain, do they think of the word “sexy”? Many might say no, but here’s an argument as to why it’s a perfect fit.
Are Apple products sexy? Are designer clothes sexy? Is the Audi A5 sexy? Are oysters sexy? Many people would answer yes. Substitute your favorite and most desired technology, clothes, cars, and food, and you will find that they are all products of the supply chain. Senior Vice President of Research at SCM World, Mark Davis, is leading the charge in pointing out the vibrancy, attractiveness, and desirability of the supply chain. A study conducted by SCM World shows how consumers view the supply chain. Here’s what they found:
- Very few people react to the supply chain in a negative or strongly negative way.
- People aged 16-25 view the supply chain as positive or strongly positive, which is more optimistic than any other age groups reported.
- People aged 56 and older reported the highest level of unfamiliarity with the supply chain, while people aged 16-25 reported being most familiar with the supply chain.
- People aged 16-25 were the least neutral compared to other ages in their reaction to the supply chain.
Given what we know about the Millennial generation, this makes sense, and it could be good news for the supply chain. Millennials are optimistic, achievement-oriented, social, collaborative, tech-savvy, and value-based. Their buying patterns are informing everything we do and it should be stressed that there are many of them. According to the New York Times, “there are more 23-year-olds — 4.7 million of them — than any other age, according to census data from June. The second most populous age group was 24, and the third was 22. There is no official age range for Millennials but the generation generally is defined as being born between the early 1980s and early 2000s. By 2020, they will account for one-third of the adult population.” We think of the Baby Boomer generation as the largest age group, but at 24% they are just surpassed by the Millennial generation at 26% of the population.
Often we equate what is sexy with youth. With the Millennial generation—our youth— poised to make up 50% of the workforce by 2020, the supply chain could harness their optimism and interest. According to Mark Davis, “we should all be highly optimistic about the future. Millennials are strongly positive about supply chain, which presents a unique opportunity for us to inspire them to choose it as a career. We have to keep them interested by sharing stories of how supply chain is innovating to solve the world’s three fundamental issues: health, hunger and environmental sustainability.”
Aside from being supported by Millennials, why else would we consider the supply chain “sexy”? Some of the most innovative work is being done in the supply chain, including enterprise resource planning, cloud-based computing, use of big data, and involvement in the Internet of Things. If the supply chain can continue to harness technology, make smart hires, and attract Millennials, the word “sexy” could apply for a long time.
by Fronetics | Apr 30, 2015 | Blog, Strategy, Supply Chain, Talent
Why “sexy” is a perfect fit for the supply chain.
Why do we apply the word “sexy” to things that are non-sexual, like, for example, the supply chain? Sexy is synonymous with the words exciting, appealing, fascinating, desirable, provocative. It’s a buzzword for something popular and attractive. When people think of the supply chain, do they think of the word “sexy”? Many might say no, but here’s an argument as to why it’s a perfect fit.
Are Apple products sexy? Are designer clothes sexy? Is the Audi A5 sexy? Are oysters sexy? Many people would answer yes. Substitute your favorite and most desired technology, clothes, cars, and food, and you will find that they are all products of the supply chain. Senior Vice President of Research at SCM World, Mark Davis, is leading the charge in pointing out the vibrancy, attractiveness, and desirability of the supply chain. A study conducted by SCM World shows how consumers view the supply chain. Here’s what they found:
- Very few people react to the supply chain in a negative or strongly negative way.
- People aged 16-25 view the supply chain as positive or strongly positive, which is more optimistic than any other age groups reported.
- People aged 56 and older reported the highest level of unfamiliarity with the supply chain, while people aged 16-25 reported being most familiar with the supply chain.
- People aged 16-25 were the least neutral compared to other ages in their reaction to the supply chain.
Given what we know about the Millennial generation, this makes sense, and it could be good news for the supply chain. Millennials are optimistic, achievement-oriented, social, collaborative, tech-savvy, and value-based. Their buying patterns are informing everything we do and it should be stressed that there are many of them. According to the New York Times, “there are more 23-year-olds — 4.7 million of them — than any other age, according to census data from June. The second most populous age group was 24, and the third was 22. There is no official age range for Millennials but the generation generally is defined as being born between the early 1980s and early 2000s. By 2020, they will account for one-third of the adult population.” We think of the Baby Boomer generation as the largest age group, but at 24% they are just surpassed by the Millennial generation at 26% of the population.
Often we equate what is sexy with youth. With the Millennial generation—our youth— poised to make up 50% of the workforce by 2020, the supply chain could harness their optimism and interest. According to Mark Davis, “we should all be highly optimistic about the future. Millennials are strongly positive about supply chain, which presents a unique opportunity for us to inspire them to choose it as a career. We have to keep them interested by sharing stories of how supply chain is innovating to solve the world’s three fundamental issues: health, hunger and environmental sustainability.”
Aside from being supported by Millennials, why else would we consider the supply chain “sexy”? Some of the most innovative work is being done in the supply chain, including enterprise resource planning, cloud-based computing, use of big data, and involvement in the Internet of Things. If the supply chain can continue to harness technology, make smart hires, and attract Millennials, the word “sexy” could apply for a long time.
by Fronetics | Apr 9, 2015 | Blog, Leadership, Strategy, Supply Chain
Change management is the process of taking an individual or a group of people from a current state to a more desired state. Its recent prevalence, and often necessity, is heavily due to new technology and globalization. As humans we experience change constantly, on micro and macro levels. Today alone, around 350,000 babies will be born and 150,000 people will die. Gas prices might have dropped recently or your favorite flavor of potato chips might be discontinued. Stock prices rise and fall by the second. Nearly everything changes, yet the word change is often scary or stressful, especially when applied to the workplace.
Alan L. Milliken wrote in his article The Importance of Change Management in the Supply Chain that the key components of a successful business are process, technology, and people. He terms this the “Triad of Operational Excellence.” How is this “triad” involved in change management?
Process:
Sometimes process is the reason for implementing change. Are the processes in the supply chain preventing timely order fulfillment? Can the current process ensure proper, safe, and secure delivery? Are current processes compliant with regulations, nimble enough to weather unexpected change, efficient and modern enough to match innovative competitors? These are all good points to assess. When implementing change is it critical to understand a company’s current capabilities, what needs to be changed, and whether the current systems and finances can support change.
Technology:
Often change management can be spurred by a need for technological growth. If the end-to-end supply chain has antiquated practices, and one member of the chain is transitioning to modern technology, the rest of the players involved may feel the need to change despite being resistant to new technologies or feeling overwhelming by the cost and steps required to transition.
Some companies with decades or a century of business behind them, may be nervous about shifting to a social media driven, on-demand paradigm. There are many benefits to modernizing, and seeing the long-term view of how technology and media can assist business is critical. One company that has made changes to the way they present their business is the packaging supply company, Laddawn. Overhauling their website and providing customers with new purchasing capabilities has put them at the forefront amongst competitors. According to CEO, Ladd Lavallee, “It’s difficult for manufacturers to invest in service, or service technologies, because production can easily consume our time and money. But we need to make our customers’ lives easier if we want to keep winning their business in a shrinking world.”
People:
If leaders aren’t on board with a change management process their frustration or hesitation can seep into others’ mindsets. Studies have shown that emotional contagion occurs in society, and in business. People who cultivate a positive mind-set perform better in the face of challenge. When Bert’s Bee’s was rapidly growing on the global market, then-CEO, John Replogle, worked positive emotional contagion into his workplace, realizing, “Leaders, by virtue of their authority, exert a disproportionate impact on the mood of those they supervise.” He saw this change as an opportunity for people to grow as the company was growing.
In a sweeping meta-analysis of 225 academic studies, Sonja Lyubomirsky, Laura King, and Ed Diener found that happy employees have, on average, 31% higher productivity; their sales are 37% higher; their creativity is three times higher. According to executive coach and business consultant, Sara Regan, of Common Focus Consulting, thoughtful leadership during change is critical to success and employee satisfaction, “The biggest mistake I see leaders make is that they are too late in bringing others into the process. It usually creates more work in the end since it heightens anxiety and resistance then making the leader push harder instead of listen. The way in which leaders approach change impacts the end results but also the ongoing trust and engagement of the team.”
Certainly there are times when change is not necessary in a company, but when it is, aligning the process, technology, and people are key to reaching a new, more successful and desired state.
