Presenter: Brian Woods January 25, development/ Top 10 Myths of Supply Chain Development How did WE get here? University of Tennessee Supply Chain Forum Study (62 companies) 1.Impending retirements of a huge number of baby boomers 2.Expansion of global SCM requirements 3.Continual shortage of employee skill sets 4.Misconceptions about SCM careers 5.Lack of educational outreach to HS parents/students/faculty 6.High employee turnover related to the word LOGISTICS 7.Who is out there? Top 10 Myths 1. Talent development is HRs responsibility. Develop a talent strategy. Must create focused partnerships b/w HR and SCM focused employees. 2. Returns on talent development cannot be measured. Realize that hiring someone with critical knowledge of an area has financial impact. Establish connection b/w talent investments and quantifiable returns (KPIs). 3. The cost of investing in talent development is too high. Searching/Training cost to replace professional positions are usually two to four times the annual salary. Talent acquisition/training should be analyzed and complete with a cost- benefit analysis. Top 10 Myths 4. Talent development is primarily about teaching supply chain content. Function specific training is short-sighted. Need broader education opps. Intersect training with other areas (finance, accounting, marketing, etc). 5. A one-sized-fits-all training solution will be effective. Generalized approaches limit ways in which SCM can create additional value. Best training is tailored to the SCM org and its mission inside the company. 6. Internal or external resources are always better. Picking one or the other is outdated in todays rapidly changing environment. Recognize the positives and negatives of both and structure accordingly. Top 10 Myths 7. Talent development primarily happens in a classroom. Flipped classrooms are more effective. Active discussion / hands on learning. Best programs use on job training coupled with formal instruction. 8. Talent development will happen naturally and informally. We learn something new every day is true, but are we learning the right things? SCM leaders must have clear and measurable talent building strategy. 9. Talent development is less important than the issue du jour / soup of the day Too many managers task their employees to figure out todays problems only. Do companies want to be better tomorrow than they are today? If so, then talent development wins! Top 10 Myths 10. Its too late to start a talent development program. Failure to recognize and act will result negatively on multiple fronts. Its clear that companies who focus on SCM talent development are set to have sustained growth in the future. What now? How should companies go about developing a supply chain pipeline? - Increased focus on colleges and universities - Recent growth in academic supply chain programs - Training program growth (classroom, hands-on, on-the job) - Mix of home grown talent with experienced professionals THANK YOU!! Brian Woods