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LifeWork Search Newsletter - August 2017




Supply Chain
It's Changing... Are You? 

  Technology is constantly advancing. We are seeing these advancements being utilized in different areas of the supply chain- which may make life more convenient for the consumer, but they're causing some disturbances when it comes to talent requirements.

In an article written by Alexa Cheater, titled The Rise of IoT in Supply Chain Planning, Alexa gives some examples of how technological advancements have already begun to affect the supply chain. New machines, communications between machines, and ways of collecting and storing data are being developed- putting convenience on consumers but simultaneously changing the 'behind the scenes' operations.

Some examples Alexa writes about include:
  •   The Coca-Cola Freestyle Machine:  Th is m achine elim in ates             the   need   for someone to predict flavor popularity / demand. These machines automatically store data based on consumer selections in the machine.
  • Lockheed Martin's smarter airplanes: The airplane's engines run self-diagnositcs, alert to any issues, and schedule their own maintenance based on flight schedules and bay locations. 
More emphasis is being placed on algorithmic skills and investing in talent with not only supply chain skills, but IT and analytical skills. According to Alexa's findings, companies, for example, with 5 demand planners should start considering moving from having five demand planners to three demand planners, one data scientist, and one data engineer.

Amy Clark, news reporter for Elementum, lists some reasons the supply chain is seeing a shortage of talent:
  • The industry is expanding faster than workers are becoming qualified
  • The qualifications needed for supply chain careers are expanding
  • There's an education shortage and companies have trouble gauging a good supply chain mind

With as much as one third of the current workforce at or beyond the retirement age, and the new trends of IoT, digital business, and algorithmic planning, there is not only a current talent gap crisis, but a major shift in what the future requirements are for new talent being brought into the supply chain. These new trends are requiring a person to have a much broader skillset and a much different skillset than what was required when most of the workforce began their careers. 

She states that the demand for these data scientists is already on the rise, and the change should be happening now.

Time is changing and things are evolving around us. With the changes in supply chain becoming more prominent, it's time to start thinking how you / your company can develop and advance with these changes.

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All information provided may be found on our website under the NEWS section, in our monthly Employment Situation Reports, and on the Bureau of Labor Statistics website.


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