How is the role of supply chain professionals evolving?
How is the role of supply chain professionals evolving? What skills will managers need in the future to succeed in this profession?
The growth in technology and innovation has led to the evolution in the role of supply chain professionals. Their roles are evolving in the following manner:
Earlier, supply chain professionals used to practice hands-on experience in transportation and warehousing. But the emergence of supply chain management concepts started demanding a whole new set of skills.
Supply chain specialists are now required to be familiar with supply chain software as a result of technological advancements. They are intended to boost supply chain activities by utilizing technology.
Nowadays, the vision of supply chain operations has evolved to attain customer value. This requires more diverse skills, exposure to the company's values, and knowledge of the competitive industry on the part of supply chain professionals.
Modern supply chain operations require an understanding of the use of data and analytics for process improvement. Due to this, the companies now demand professional degrees from supply chain professionals.
Since supply chain management is evolving with time, the supply chain managers may require the following skills in the future:
Technical understanding: With growing technology, various software and technological advancements are taking place in the supply chain systems. Hence, it is important to have a technical understanding.
Project management skills: It is important for managers to learn project management skills in order to manage various operations under supply chain management.
Understanding of e-business systems: E-business systems simplifies the management of supply chain operations and increases business processes. Hence, it is important to understand e-business systems.
Practicing business ethics: Ethics is one of the most important aspects of a business. Practicing proper work ethics helps in establishing good relations with various stakeholders.
Understanding global issues: Supply chain management is impacted due to global problems such as an increase in overseas taxes. Hence, understanding global issues is necessary for the managers for efficient supply chain management.
Sound knowledge of financial statements: Knowledge of financial statements is also necessary for managers to monitor the efficient working of supply chains.
The evolution of roles of supply chain professionals is as follows:
Supply chain management requires new skill sets.
The emergence of supply chain software and technological advancement.
Requirement of skills and knowledge of competitiveness in the supply chain industry.
Understanding of data usage and analytics for process improvement.
Supply chain managers may require the following skills in the future:
Project management skills
Understanding of e-business systems
Practicing business ethics
Understanding global issues
Sound knowledge of financial statements.