2021 – Page 16 – Sime Curkovic Ph.D.

Do not underestimate the power of a professional email signature

Do not underestimate the power of a professional email signature (most do not even have one, or they have very boring ones). The email signature should be filled in with some relevant details to catch the potential employer's attention and earn yourself some credits for successful branding. Good email signatures for college students can be a great touch point in an email. If you add some extra contact details and...

How should companies use competitive bidding (think long-term)?

Typically, buying organizations will use several rounds of the competitive bidding process to pick a low cost supplier. Buying organizations will send out RFQs to get bids from suppliers. RFQ stands for a Request for Quotation. In other words, please give us a quote for this business. Unfortunately, several iterations of the competitive bidding process can be very resource intensive, especially for smaller companies. Larger companies have been able to...

My background & why I am obsessed with your success…

https://wmich.edu/business/doing-things-better-faster-cheaper-living-american-dream Doing things better, faster and cheaper and living the American dream Dr. Sime Curkovic grew up surrounded by industry in Lansing, Michigan. He is the son of immigrant parents who came to the United States from what is now Croatia. Once in Michigan, his father was told, “If you are looking for the American dream, go to this factory, fill out an application and work hard.” Determined to succeed,...

Supply Chain Factoids

Let's say you have a supplier and you are starting to get the vibe that you are overpaying. What can you do? You could ask them for a cost break down. However, if a CURRENT supplier does not want to break out costs for you (the buyer), then the contract should allow for competition once a reasonable period of time has elapsed for the supplier to recover their fixed costs. ...

How do companies outsource strategically?

Here are the video lectures to accompany this discussion: https://www.youtube.com/watch?v=MrBN_T9ogao&t=424s https://www.youtube.com/watch?v=Ay2orDXjP8o&t=8s https://www.youtube.com/watch?v=T5SD4ugLMks&t=107s Some companies (both large and small) are going beyond just outsourcing commodities to also outsourcing core/strategic parts. It makes sense for smaller firms with scarce resources to outsource commodities. A commodity by definition is something that several suppliers exist for and as a result of competition, someone else can do it better, faster, and cheaper. However, data also...

People that read a lot make way more money (2.3 times more?!!!!)

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...

SCM Resume Keywords Ideas/Action Verbs for your resume

Resume Keywords Ideas/Action Verbs for your resume (I heard many employers say this was an issue). See below for this laundry list of resume keywords. Here is a laundry list of keywords that employers look for on resumes... This will give you tons of ideas for your resume, just click Does your resume use these words? Note, the resumes I see need tons of work (and I mean tons). Please...

I have way too many students failing their first interviews because they were not ready for STAR. Practice, practice, practice.

The STAR method is a structured manner of responding to a behavioral-based interview question by discussing the specific situation, task, action, and result of the situation you are describing. Here is a helpful guide from our top paying recruiter ($77K)... Here is a STAR interview guide from our alumni at GM, click Most of the companies that recruit from our program use this STAR technique. Star Method:Tell me of a time when you had...

Quickest way to six figures (supply chain management?!)

Since so many people asked, here is a very long list of reputable pubs on Supply Chain Salary data: Global supply chain managers are the unsung heroes of companies who have to get products from A to B, on time, and on budget — and now across continents and time zones as well. The job calls for calm problem-solving ability, high-tech handiness, and diplomatic skill — a triple threat that’s...

How can SCM impact the bottom line?

First watch and make sure you understand these 3 parts and follow this handout: https://wmich.edu/supplychain/handout https://www.youtube.com/watch?v=-Gt71HxWvl4 https://www.youtube.com/watch?v=m4gdWY8IUaA&t=18s https://www.youtube.com/watch?v=0RsxriBsEx4 Remember, ROI = profit margin * asset turnover rate (ATR). ATR = sales/total assets and total assets = current assets + fixed assets, and current assets = inventory + accounts receivable + cash. I keep telling my students if they can widen margins and/or increase ATR, then ROI will go up. So,...