I used to pack Contract Management into one class during the 1990s. Now, our supply chain students can take a customized legal & adv contract mgmt course. They take LAW 4860 so that they can learn the terms & conditions associated w/ buyer-supplier contracts. The instructors are actual lawyers & they customize the class for SCM students. Today, over 70% of current supplier contracts have price increase provisions. Here are some Practices that Can Make Your Commodity Related Supply Chain Job More Rewarding:

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• My SCM students often ask: What earnings can I expect in my career if it goes well? Elon Musk says: “You get paid in direct proportion to the difficulty of the problems you solve”. Another lesser known manager told my students: “The critical factor for this salary gap is that if you reach 35-ish years old and have never led a team, then it’s *extremely* difficult to move up to the next level.” Tons of data out there to be had and make sense of…

  Sime Curkovic October 6, 2024October 6, 2024
• Students (see the crazy import data below, AI might be coming soon in a very big way): Supply chain management (SCM) presents unique challenges largely due to the lack of real-time visibility and the unpredictable nature of lead times. In an ideal world, companies would have full visibility into every stage of the supply chain—from sourcing raw materials to delivering the final product. If we knew exactly where every component was at any given moment, and if lead times were always consistent and predictable, the supply chain would be much easier to manage. In other words, SCM would be a piece of cake if we knew where everything was all the time from beginning to end. You can make a trillion dollars if you invent a technology that does that.

  Sime Curkovic September 30, 2024September 30, 2024
• Do you know what your brand is? Become the Nike swoosh of your life! Most students put little effort into developing and promoting their brand (and networking in general). Do a SWOT analysis for yourself by identifying 5-10 traits for each category.

  Sime Curkovic September 22, 2024September 22, 2024