Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management news.
Time for Alternative Design!
Michael Lamoureux, Sourcing Innovation, 6/25/2018
In a world of tariff placement and return tariff retaliation, trade is getting expensive. This is particularly the case between the US, Canada, and the European Union. Global companies with the necessary capacity are moving production out of the US in order to produce in cheaper markets without the same tariffs. Not all companies, however, are fortunate enough to outsource and produce elsewhere. Those whose markets and productions are rooted in the US are at risk of seeing prices grow too high for their target market, potentially leading to bankruptcy. The solution that we may be seeing such companies turning to is developing alternate designs with lower-cost materials. A little creativity and some elbow grease can go a long way.
Sydney Lazarus, Spend Matters, 6/26/2018
Though women only occupy about 20% of today's supply chain VP positions, this number is expected to rise by about a third in the next five years. This, Lazarus reports, is according to recent study by Gartner and AWESOME. This year's study saw increases in the number of generalized and formalized initiatives to increase gender diversity in supply chain organizations. Gartner and AWESOME's findings also suggest that organizations are abandoning 'lean in' initiatives in favor of more proactive 'pull in' programs. This means they're shifting from an emphasis on internal leadership programs and developing more aggressive recruitment strategies for bringing women into executive positions.
Helen Carey, Thomas Net, 6/20/2018 Carey shares her reflections on, "Workforce Integration in the New Age of Smart Technologies," a recent panel that took place at the Medical Design & Manufacturing Conference. The panelists, she reports, spoke to the importance and challenge of developing a skilled and reliable workforce in today's widely automated. The popular tactic of integrating millennials into the workforce by learning from the experienced workers was discussed. However, the thought that some jobs require specific skills that are challenging to learn on the go without proper foundation was provoked. This lead to the idea of examining and adjusting the way children are educated and the overall trade and career training system in the United States. This can be applied to nearly any industry, as every organization is facing the need to bring in younger talent. If a solid educational foundation is built early on, learning can be more efficient, lessening the "learning curve," and speeding up the integration process.