Year: 2024

I keep telling my students if they can widen margins and/or increase ATR, then ROI will go up. So, if you can reduce your total assets without changing sales and/or increasing sales, then ATR goes up. For example, reduce your inventory and your ATR will go up and ROI will go up. If you can do more with less, then your ATR will go up. No other major/function (SCM) has a greater impact on what goes into the ROI calculation. That is why SCM graduates will likely be immediately bonus eligible and their highest ranking functional area (SCM) leader will have a VP in front of their name (VP of SCM). Note, that also likely applies to all of your majors since you are majoring in a business discipline.

The handout for this 3-part video is attached and here are the video links (start from the beginning)...https://www.youtube.com/watch?v=-Gt71HxWvl4&t=17shttps://www.youtube.com/watch?v=m4gdWY8IUaA&t=864shttps://www.youtube.com/watch?v=0RsxriBsEx4&t=325s Please follow the one-page handout while watching the videos above, each part is less than 20 minutes.  __OK, I want to make sure you caught this in my Supply Chain Management (SCM) Finance lecture above.Remember, ROI = profit margin * asset turnover rate (ATR).  ATR = sales/total assets and total assets = current assets +...

Rounding up GPAs, post script on your phones for email replies, resume keywords, & email signatures. How about replying to this email with your version of an email signature? Students (how about creating a professional email signature to impress employers?):

Subject: Read (more mentor advice): Rounding up GPAs, post script on your phones for email replies, resume keywords, & email signatures. How about replying to this email with your version of an email signature? Students (how about creating a professional email signature to impress employers?): Resume advice, Do NOT round up your GPAs  Students should not change their official GPA for their resume. Instead, I recommend they calculate their GPA using the courses...

Note: my students go into “buyer” roles very early on in their careers. However, the supplier sales rep on the other side of the table is not early in their career (they often have > 10-20 years, if not more, work experience). So, LEARN to negotiate!

Subject: Read: An interview I did w/ students from the University of South Florida - does it snow in Tampa? (also, info on WES classes)Sidenote Reminder for Business Students:Note, here are faculty recommendations for Essential Studies.  These classes would complement SCM majors (and all business majors in general) and help you become more successful in your careers (i.e., help you figure out how to do things better, faster, and cheaper).Essential Studies...

What does a Supply Chain Manager do? The U.S. supply chain accounts for 37% of all domestic jobs and many people in those jobs do not even realize it.

Subject: Read: What does a Supply Chain Manager do?  The U.S. supply chain accounts for 37% of all domestic jobs and many people in those jobs do not even realize it. Remember, if you save your employer $1, then that is the same as giving/adding $1 in pre-tax profit to your employer's bottom line (it is a 1:1 ratio).  Yes, you can help them increase sales revenue by $1, but that might...

I met with several managers at a career fair and I made the following observations. Note, the most common question now that I get from managers regarding feedback on students is: “How is their attention to detail?”. I think the reason for that is because many business professionals are working online/remote/hybrid and they are getting buried with data and communication (i.e., emails). So, how well do they manage all that detail? Personally, I think a lot of mistakes are being made that is creating supply chain chaos because people are not staying on top of all the details.

I met with several managers at a career fair and I made the following observations.  Note, the most common question now that I get from managers regarding feedback on students is:  "How is their attention to detail?".  I think the reason for that is because many business professionals are working online/remote/hybrid and they are getting buried with data and communication (i.e., emails).  So, how well do they manage all that...

Business Analytics Minor and AI (I think this minor keeps you from ever being a victim of technology). This is just my hard and fast sell on these skills sets. Please know that I do this simply to help you and it is never about judgement. Making sense out of large amounts of data is very important in problem-solving.

Subject: Read: Business Analytics Minor and AI (I think this minor keeps you from ever being a victim of technology).  This is just my hard and fast sell on these skills sets.  Please know that I do this simply to help you and it is never about judgement.  Making sense out of large amounts of data is very important in problem-solving.  “You get paid in direct proportion to the difficulty of the...

We make our students learn A3 through a project w/ a local company…Several of our students also complete their internships with an A3 presentation & report. Also, problem-solving is the #1 sought after skill set by employers…Hopefully, we are training our supply chain students to become consultants…to their own organization. We try to develop strategic skill sets (rather than tactical) combined w/ softer skills (i.e., problem solving, leadership, negotiation, project mgmt, etc.).

We make our students learn A3 through a project w/ a local company...Several of our students also complete their internships with an A3 presentation & report. Also, problem-solving is the #1 sought after skill set by employers: https://lnkd.in/e-7ftCCY. Hopefully, we are training our supply chain students to become consultants…to their own organization. We try to develop strategic skill sets (rather than tactical) combined w/ softer skills (i.e., problem solving, leadership,...

Our new promo video (not bad at all). Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 6% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success.

Our new promo video (not bad at all). Yes, the WMU Haworth College of Business is one of the best in the world. AACSB accredited (that means top 6% globally) & most programs are nationally/globally ranked. Why? My answer: faculty are obsessed w/ student success. https://www.youtube.com/watch?v=lLzXjvN3v04&t=8s Examples:WMU named in Princeton Review's 2022 'best business schools'https://lnkd.in/gnRvmJwD. Also, Western named a Best College for Future Leaders by TIME: https://lnkd.in/eSSKmGg9.Accounting*Select 1% of business schools worldwide that...

Students with exploding job offers…The most recent is $85K base, 7% bonus eligible,15 days paid vacation, 12 US holidays, & a $7K signing bonus for being a previous intern (1 month to decide). Based on my observations: Employers that interview very selectively for internships & pay market value, tend to convert exceptional talent into full-time employees. In fact, they pay their interns a salary that is very close to what their full-time offers are. For example, from a student:

Students with exploding job offers...The most recent is $85K base, 7% bonus eligible,15 days paid vacation, 12 US holidays, & a $7K signing bonus for being a previous intern (1 month to decide).  Based on my observations: Employers that interview very selectively for internships & pay market value, tend to convert exceptional talent into full-time employees. In fact, they pay their interns a salary that is very close to what their...

Combined with a MFG recession (maybe flat best case), it might be time for price risk sharing in these buyer-supplier relationships. Also, get ready for another supply chain disruptor: no succession planning…Do not forget where most of the supply chain is: Small Businesses.

Combined with a MFG recession (maybe flat best case), it might be time for price risk sharing in these buyer-supplier relationships: https://lnkd.in/eRm5Cdxw. Also, get ready for another supply chain disruptor: no succession planning…Do not forget where most of the supply chain is: Small Businesses. https://www.supplychaindive.com/news/financial-risk-health-supply-chains-suppliers-buyers-pre-pandemic-Rapid-Ratings/708789/ Small Businesses Play a Big Role in Supply-Chain ResilienceFrom HBR article: https://lnkd.in/eY_zBxqz.“The U.S. has an opportunity to do more than just get its supply chains...