The Top Import Partner of Every U.S. State: https://lnkd.in/eKT767J9. Check out Michigan...Top import customer: Mexico, 44% of total state impor
My students in Silicon Valley say making $200K+/yr feels like making $90K/yr in Metro Detroit. Some pay close to $6K/month for rent (so they need roommates). Owning a home will be tough. Kind of related…Ranked: Worst Companies for Employee Retention:
My students in Silicon Valley say making $200K+/yr feels like making $90K/yr in Metro Detroit. Some pay close to $6K/month for rent (so they need roo
Will AI really kill the tools we teach like Excel? From 2020, notice where AI was on the list. We are still holding firm on Predictive Data Analytics, ranked #2! Every WMU SCM major now has to take this class (Excel on steroids). Our Business Analytics minor teaches Big Data w/ skill sets such as:
Will AI really kill the tools we teach like Excel? From 2020, notice where AI was on the list. We are still holding firm on Predictive Data Analytics
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…
Winter NACE 2024 Salary Survey: https://lnkd.in/eJJCfx5c. My students love salary data…The 10 Highest-Paying Supply Chain Jobs: https://lnkd.in/e35zV
TRUE OR FALSE? MOST FIRMS WILL CONTINUE TO REDUCE THE TOTAL NUMBER OF SUPPLIERS THEY MAINTAIN, AND THE REDUCTION WILL CONTINUE TO BE AS DRAMATIC AS THEY HAVE BEEN IN THE LAST 8 TO 10 YEARS.
TRUE OR FALSE? MOST FIRMS WILL CONTINUE TO REDUCE THE TOTAL NUMBER OF SUPPLIERS THEY MAINTAIN, AND THE REDUCTION WILL CONTINUE TO BE AS DRAMATI
Students (see the crazy import data below, AI is 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.
Students (see the crazy import data below, AI is coming soon in a very big way):Supply chain management (SCM) presents unique challenges largely due
Many students keep asking me, why don’t these OEMs just use dual sources of supply to mitigate risk? Well, it is very complicated. Almost all questions in business (and life) can be somewhat answered with this word – MONEY. For example,…
https://www.youtube.com/watch?v=jjziSDoeOcU
One of our WMU SCM alumni put the video above together on supply chain risk management for you.
I recently had a student ask me this question – Would you recommend using Vendor Managed Inventory (VMI) or Consignment Inventory (CI)? I feel like VMI means that you have to regulate the Suppliers more than Consignment would. Consignment allows you to have your inventory costs in the hands of the supplier so the inventory cost is lower for you. In other words, Consignment means we will buy the stuff from suppliers, but we will not pay the supplier until we actually use it.
These stats came out from ISM Supply Chain Weekly (you get this if you join ISMWorld.org - $35 for students) Students:Companies within the same
Supply Chain Trends, Reverse SCM, and SCM Finance
Pasted below is a lecture videos (Supply Chain Trends, Reverse SCM, and SCM Finance) that I have sent in previous emails just in case you missed clas
SCM 101
Pasted below are the 3 lecture videos that I have sent in previous emails just in case you missed class or need to hear it again. ht
“Those who invested in career certifications found themselves earning higher salaries. The report found that supply chain professionals who hold at least one credential reported a median salary that is 16% higher than those without. People with two or more certifications earn 34% more.”
Most of you are SCM majors and will eventually pursue careers in supply management related fields (e.g., purchasing, operations, logistics, etc.).&nb
Apple’s Core Competency is SCM? I thought it was technology/innovation?
Apple's Core Competency is SCM? I thought it was technology/innovation? Students:Apple's Core Competency is SCM?https://www.youtube.com/wa
ESI = early supplier involvement & CE = concurrent engineering (everyone does this for their “core” material needs) ESI = early supplier involvement and CE = concurrent engineering, and they mean the same thing. Before companies go into production with new products, they have to design those products, it is called the new product development process (NPD).
Three Sample Exam Questions: If you try answering the questions, I will reply back with the answers... Students:ESI = early supplier involv
Problem-solving at work requires that you measure the stuff that is important to your organization (i.e., quality, costs, service, etc.). For example, can a company be good at anything if it does not measure it in excruciating and accurate detail? No, they will be terrible at all things that they do not measure (i.e., customer satisfaction). However, measurement also implies that you have to make sense of very large amounts of data (and hence the desire for super advanced excel spreadsheet data analytics skill sets). And, further, the need to use technology to make the right decisions using data visualization tools like Power BI and Tableau (think dashboards and graphs and pie charts – old people like me prefer pictures that tell a story rather than looking at giant color coded spreadsheets to make decisions).
Which of the following are two data visualization tools taught in CIS 3640 of the Business Analytics minor?
ERP and SAPExcel and PowerPointT
One of the most reprinted articles in the history of the Harvard Business Review (HBR). The HBR “Core Competence” Article…
One of the most reprinted articles in the history of the Harvard Business Review (HBR). Students:The HBR "Core Competence" Article:You will notice t
How do companies outsource strategically? 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.
Here are the same video lectures from the last email (tons of exam questions from these, treat these like a podcast, you can speed it up also) - note
What is MRO? It is a type of indirect cost.
What is MRO? It is a type of indirect cost.
Students:
I would watch this first, beginning at the 12:15 mark...
https:
Feedback from former student on consulting jobs after graduation…just in case you see some at the career fairs. There will be several at the MSU career fairs. Consulting is simply “problem-solving” for a client/customer. Does consulting appeal to you? “You get paid in direct proportion to the difficulty of the problems you solve” – Elon Musk
Feedback from former student on consulting jobs after graduation...just in case you see some at the career fairs. There will be several at the
Spending on diverse suppliers averages 3.6% of total spend (96.4% is with non-diverse suppliers – we will discuss this in class eventually) – finding and using a minority owned supplier might be a part of your future job. Your employer might expect you to have around 5-10% of your total spend with diversity suppliers, and it will not be easy. Why? There are not many and they tend to be small (and smaller suppliers tend to struggle with being price competitive).
Spending on diverse suppliers averages 3.6% of total spend (96.4% is with non-diverse suppliers - we will discuss this in class eventually) - finding
Feedback from Broncos who have GREAT gov jobs (no one spends more money and buys more stuff than the government – that’s SCM – buying stuff and spending money, but doing so well). MSU and WMU have a career fair for just these kinds of jobs. Note, there might currently be a hiring freeze on these jobs (we have new leadership in Washington and Elon is leading that charge). …and if you think government jobs do not pay well, here is a state of Michigan procurement job that pays $93,681.00 – $134,751.00
Feedback from Broncos who have GREAT gov jobs (no one spends more money and buys more stuff than the government - that's SCM - buying stuff and spend