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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…

Students: I had someone ask me:  What earnings can I expect in my career if it goes well?  My narrow window of expertise requires me to answer this question in the context of SCM careers, but I think you can accurately extrapolate from it. Note, it goes well for most of my former students.  Just keep learning and building your brand. My theory:  In general, what do supply chain leaders make?...

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.

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...

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.

Subject: 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.  Strengths and Weaknesses might be obvious, but Opportunities and Threats might be less obvious (but do your best). For example, an opportunity might be that you are a...

How should companies use competitive bidding (think long-term)?

Subject: Read: How should companies use competitive bidding (think long-term)? Students (my lecture notes from class below, we are now diving deep into test material): Here are the video lectures to accompany the next few emails (tons of exam questions from these, treat these like a podcast, you can speed it up also) - note, when you watch/listen to these, make sure to rewind it to the beginning:  Part 1 - https://www.youtube.com/watch?v=MrBN_T9ogao&t=424s...

People that read a lot make way more money (2.3 times more?!!!!). Here is an astounding fact – readers make more money – a lot more! It’s true. According to a number of studies*, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year. Why exactly do readers earn so much more money? Answer: Because they become better problem-solvers.

Subject: Read: People that read a lot make way more money (2.3 times more?!!!!) Students: Here is an astounding fact - readers make more money - a lot more! It's true. According to a number of studies*, business people who read at least 7 business books a year earn over 2.3 times more than people who read only 1 book per year. Why exactly do readers earn so much more money? Answer:  Because...

Let’s say you just started working for this company and you are a problem-solver that is obsessed with finding ways to do every part of your job better, faster, and cheaper. Over a six-month period, you work very aggressively to reduce your organization’s direct material purchases/costs by 5%.

See the attached one-page financial statement on ROI (same one from a previous email and handed out in class).  That email had the following three-part lecture series: 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 Let’s say you just started working for this company and you are a problem-solver that is obsessed with finding ways to do every part of your job better, faster, and cheaper.  Over a six-month period, you work very aggressively to reduce your...

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...