Notable trends in the supply chain and procurement industry include projected increase in young workers
There are major changes slated to occur in the supply chain and procurement industry, such as a large influx of young people, that are influencing trends within the industry.
Many vacancies to open with large amount of retiring baby boomers
According to Supply Chain Digital, the U.S. Census Bureau has projected that 60 million members of the "Baby Boom" generation will retire by 2025.
This obviously leaves a large vacuum in industries across the economic board in the U.S. – one chief example of an industry that will need to hire to promote job growth is the supply chain and procurement industry. An estimated 40 million individuals will enter the workforce in 2025, still leaving a large number of vacancies.
Exhaustive training programs essential for supply chain and procurement industry
There are ways the supply chain and procurement industry can focus on promoting job growth and cultivating highly skilled workers. Training programs in the supply chain and procurement industry is paramount, according to the source.
These programs will help the supply chain and procurement industry elicit talent that will help the industry grow robust in the future, integrating a new workforce that can offset the future losses of a large number of workers projected for 2025.
The supply chain and procurement industry is in need of capable and talented leaders, meaning that training programs should also be geared to cultivating visionary and competent leaders. If done right, the source expects serious training efforts to have positive repercussions in other aspects of the industry, such as diminishing the rates of turnover within companies and assist in heightening job satisfaction.
There are also many innovative companies that have led the way in promoting excellence in the supply chain industry, according to Market Watch. The Supply and Demand Chain Executive's list of 100 Great Supply Chain Projects for 2014, according to the source, recognized companies that have attained excellence in the supply chain industry.
Some of the companies that made the list were Demand Management, due to its attainment of the list's metric – which includes reducing cost and improving efficiency.
"Success stories like the one from ITW Proline can be much more common when companies put the right supply chain processes and technology in place," said Bill Harrison, president of Demand Management, according to the source.
Chicago recruiters will find a excellent set of workers in the supply chain and procurement industry, both today and going forward.