2023 – Page 4 – Sime Curkovic Ph.D.

120 days?…A student asked me if these payment terms were an issue for smaller sub-tier suppliers (young students can be very observant). I had another student ask me if it was unethical to pay someone 120 days later. Hmm.

120 days?...A student asked me if these payment terms were an issue for smaller sub-tier suppliers (young students can be very observant). “20 years ago, when a supplier delivered a finished product to a commercial aerospace customer, it generally was paid w/i 30 days. In the early 2010s, major OEMs increased terms to 60 days. By the late 2010s, terms reached 90 days, & today the standard is 120 days....

“In ISM’s 2023 Salary Survey, the reported overall average salary remained steady, dipping imperceptibly to $123,523, while the median salary rose 5.8 percent year over year, to $105,795. Except for 2021, average salary has mostly increased over the past five years for both women and men, though the pay gap between men and women persists, now at 25 percent.”

“In ISM’s 2023 Salary Survey, the reported overall average salary remained steady, dipping imperceptibly to $123,523, while the median salary rose 5.8 percent year over year, to $105,795. Except for 2021, average salary has mostly increased over the past five years for both women and men, though the pay gap between men and women persists, now at 25 percent.” https://lnkd.in/gwCWhhcE. Full disclosure, I had to look up the word:Im·per·cep·ti·bly/ˌimpərˈseptəblē/ adverb· in a way...

Wow!…”Michigan State University will begin offering 6,000 Michiganders FREE tuition EACH YEAR….The Spartan Tuition Advantage, will automatically cover the full cost of tuition for Pell Grant-eligible Michigan high school grads w/ a family income of $65,000 or less.”

Wow!..."Michigan State University will begin offering 6,000 Michiganders FREE tuition EACH YEAR....The Spartan Tuition Advantage, will automatically cover the full cost of tuition for Pell Grant-eligible Michigan high school grads w/ a family income of $65,000 or less." https://www.wilx.com/2023/10/09/msu-offer-tuition-free-program-michigan-residents/ ___”5 Michigan universities made the top-100 of this year’s “Best U.S. Colleges” rankings by the Wall Street Journal.”...https://lnkd.in/g-BS7P_Y. Another rankings list…”Forbes’ annual list showcases 500 of the finest U.S. colleges, ranked using...

Top 11: Two Michigan Universities made the list (one in Kalamazoo & the other in Ann Arbor): Western Michigan University Haworth College of Business…

Top 11: Two Michigan Universities made the list (one in Kalamazoo & the other in Ann Arbor): Western Michigan University Haworth College of Business…"As noted in the intro, numbers and rankings never tell the whole story, and this list would be incomplete without adding Western Michigan's dedicated Food and CPG Marketing program. Deeply embedded within the CPG industry, WMU offers a bachelor's degree in food marketing and sends students on to work at...

A solid, albeit somewhat generic/broad, overview for those looking to get acquainted with the supply chain field…Common Careers in Supply Chain Management:

A solid, albeit somewhat generic/broad, overview for those looking to get acquainted with the supply chain field…Common Careers in Supply Chain Management: https://www.forbes.com/advisor/education/supply-chain-management-jobs/ We sourced the below salary data from the Association for Supply Chain Management (ASCM). Buyer/PlannerMedian Annual Salary: $72,800Required Education: Bachelor’s degreeJob Description: Buyers and planners work on the front lines of organizations’ supply chains. They create forecasts for demand, obtain and distribute products and maintain data to determine products’...

FREE resources for Info on Suppliers, Customers, & Prospects…

FREE resources for Info on Suppliers, Customers, & Prospects. A WMU MBA Alum from our Taiwan Program & working in B2B industrial sales, offered the following list of free websites as a resource for research on competitors, customer supply chains, & prospect contact info. Many of these links may already be in your resource list, but if not, they can be helpful:https://lnkd.in/gV786uxYhttps://www.datanyze.com/https://lnkd.in/gqEUT3BBhttps://lnkd.in/gV2KB5dahttps://www.apollo.io/https://lnkd.in/gqR4ZPst Students, you can use this stuff for class....

Free: Endless links to supply chain salary data $$$…

Nice SCM salary report summary: https://lnkd.in/dTneTGgw. “Supply chain pros are making an avg of nearly $30K more/yr than the avg American, & are generally happy in their careers (ASCM)...The report found that the avg median supply chain salary is $98,570 (including base & additional compensation), up more than 3% from the previous year’s survey. The average median pay in the U.S. in Q4 of 2022 was equivalent to $56,420 annually, according...

What is MRO? It is a type of indirect cost.

When a MFG company sells something for $1, $.50-$.80 of that might be in Direct Material costs. So, if a company wants to cut costs to increase pre-tax profit, it will look to where most of its costs come from (i.e., DM). In other words, it will go to its supply chain since most of its Direct Material costs come from buying stuff from suppliers. Also remember, if you cut costs by $1,...

One of the most reprinted articles in the history of the Harvard Business Review (HBR). The “Core Competence” Article…

Subject: Read: One of the most reprinted articles in the history of the Harvard Business Review (HBR).Students (per my class lecture): The "Core Competence" Article. This article is older, but it is one of the most reprinted articles in the history of the Harvard Business Review (HBR). It keeps getting reprinted because it is a classic and its premise is still very relevant. HBR is a journal with articles written for...

Please Watch Out for Power BI or Tableau. Do not be a victim of technology.

Please Watch Out for Power BI or Tableau. Do not be a victim of technology. Students: More and more employers are asking students during job interviews if they know how to use Power BI or Tableau. For example, Eaton Corp in Galesburg, MI uses Power BI to visualize data and Kellogg's is called Tableau world because they use Tableau so much. It becomes easier for managers to solve problems and...