The more technology-empowered and demanding customers are adding, the speedier the supply chain management has to be in multiple dimensions. Business growth and profitability stems from innovative services and emerging markets.
Speed now is a compelling factor in all dimensions of a supply chain business and decision-making processes. In order to keep with this evolving environment, the awareness about the strategic importance of the supply chain’s contribution to the required business outcomes is necessary for those who are already in this profession, as well as those aspiring to start their career in this industry.
Education in supply chain management in parity with the current market requirements is vital to the success of an organization and to the survival and growth of the profession. In the current market scenario, there have been dramatic impacts and changes within the segment of purchasing and procurement processes. Take for examples of the changing nature of supplier and customer relationships and the growth and use of the Internet to facilitate e-commerce. Most significant change is in the focus on strategic goals regarding cost and value.
Supply Chain Management Trends:
- Centralizing purchasing and procurement processes and tracking of costs
- Rationalization of the supply base to a small set of strategic suppliers
- Greater emphasis on real-time response to customer requirements
- More importance on better forecasting, sales and operations planning
- Looking for cost reduction solutions
- Rising requirements for skilled professionals aware of the current supply chain management processes
- Growing emphasis on certifications and training for supply chain management professionals
Supply chain management teams in many organizations struggle to keep up with the changing scenario, especially in making faster decisions, overcoming the increasing complexity and risks of supply chains and responding to the constant changes. That’s why there are needs for skilled professionals who can come up with responsive planning and synchronized execution and help achieve desired business outcomes in quality, service and performance.
Skills Required in Future Supply Chain Management:
- Project management
- Technical understanding
- Cost accounting skills
- Understanding of e-commerce and e-procurement systems
- Troubleshooting and problem solving
- Understanding of legal issues involved in managing contracts
In the future supply chain management sector, the demand for skilled professionals who have knowledge and expertise in managing relationships through collaboration and measurement and are focussed on cost management will increase.
Organizations will need their managers to be able to lead teams of multi-skilled individuals, make decisions with less information, make effective contingency planning, and apply activity-based costing decisions to supply chain activities.
These skills may not be easily found, but you can encourage your existing workforce and managers to pursue logistics and supply chain management courses.
Promise Training & Consultancy is offering future focussed supply chain management courses in Dubai and several other locations worldwide. To see their course offerings, click here.