Day: March 23, 2024

We just talked about this in class…“Cost recovery mechanisms should not be judged in isolation. Inflation-driven cost increases & adjustments need to be addressed in a timely manner that is consistent, tested, & institutionalized & supported by OEM & supplier cost reduction efforts.”

We just talked about this in class...“Cost recovery mechanisms should not be judged in isolation. Inflation-driven cost increases & adjustments need to be addressed in a timely manner that is consistent, tested, & institutionalized & supported by OEM & supplier cost reduction efforts.” From Plante Moran: https://lnkd.in/ebpCgDZw.70% of new supplier agreements contain inflation driven economic adjustment clauses with the use of indices being the most common. https://lnkd.in/g_ByzrNU.It might be time...

Supply Chain Management (and Operations) made the list. 43% (SCM)/65% (Ops) large impact – “refers to tasks that will be fully automated or significantly altered by AI technologies.” In case you want to see what we cover in our AI course, see the screenshot below.

Supply Chain Management (and Operations) made the list. 43% (SCM)/65% (Ops) large impact - "refers to tasks that will be fully automated or significantly altered by AI technologies." https://www.visualcapitalist.com/charted-the-jobs-most-impacted-by-ai/ In case you want to see what we cover in our AI course, see the screenshot below. Our analytics faculty have built an AI course in our business college (CIS 5550) to cover all kinds of AI for business applications. AI embedded...

The 16 worst-paying college majors, five years after graduation- But…If You Majored in One of These 18 Subjects, You’ll Likely Have a Comfortable Retirement…Notice SCM made the list: #5. Supply Chain (Logistics): $52,290

The 16 worst-paying college majors, five years after graduation: https://lnkd.in/eTyx7YpW. But…If You Majored in One of These 18 Subjects, You’ll Likely Have a Comfortable Retirement: https://lnkd.in/e2nireWR. Notice SCM made the list: #5. Supply Chain (Logistics): $52,290. Note, WMU SCM grads (2022) had a median wage range of $65-$75K. https://lnkd.in/dkGr4_uX.I have been trying to explain SCM to high schoolers. It’s not that easy. Parents like to see this: the number of US...

Thousands of jobs on LinkedIn w/ Indirect Procurement built into the job description. MRO buyer jobs…I just had a student get an internship offer in “indirect” procurement & she asked me if it was a good opportunity. I gave her a resounding yes.

Thousands of jobs on LinkedIn w/ Indirect Procurement built into the job description: https://lnkd.in/g-Hd-QDv. MRO buyer jobs: https://lnkd.in/ggYJEq95 & https://lnkd.in/ecdDMYQ. I just had a student get an internship offer in "indirect" procurement & she asked me if it was a good opportunity. I gave her a resounding yes.Do not be afraid of Indirect & MRO. Maintenance, repair, & operating items refers to all those things that orgs need to keep their factories...

LinkedIn shows thousands of jobs in SCM related to “risk” & FMEA (Failure Mode Effects & Analysis).

LinkedIn shows thousands of jobs in SCM related to “risk” & FMEA (Failure Mode Effects & Analysis). https://lnkd.in/enidiMUe & https://lnkd.in/ei59b5_a. We try to teach SCM risk w/i the context of faculty research streams such as ISO 31000, COSO’s Enterprise Risk Mgmt Framework, FMEA, Strategic Cost Mgmt (i.e., Price-Risk Sharing...https://lnkd.in/exgE5Aud), & case studies that we create (see Steelcase below).This is pre-covid research that gets way more reads today versus when it...