Supply Chains Can’t Find Talent With The Right Skill Sets

Much has been written about the growing talent gap in industry, and the supply chain is no different. A recent survey by Alcott Global found that 50% of senior executives acknowledged the existence of a talent shortage. But a significant number – 64% – said their top challenge in attracting new talent is a lack of the appropriate skill set.

Alcott wrote in the survey report:

“While it is in the post-pandemic era that we truly comprehend the immense value of exceptional supply chain executives. The term ‘exceptional’ emphasizes the necessity for individuals who possess not only the fundamental knowledge and skills of supply chain management but also the ability to tackle unprecedented challenges and rapidly changing landscapes. Be Your Success Story: Learn the skills, controls your narrative in supply chain.”

The executive search firm cited the increasing complexity of global supply chains that are being driven by technology, sustainability and changing market dynamics are challenges hiring leaders must overcome.

In the survey of over 300 senior supply chain executives, 57% cited changes in geopolitics, trade policies or customs regulations as challenges to their business. Rising inflation (57%) and the talent shortage (50%) also topped the 50% level of respondents’ biggest challenges.

When it came time to identify what the issues to hiring are, 64% said finding the right skill set as the top challenge, followed by 58% citing a talent shortage in data analytics, optimization, automation, etc., and 32% that said a reduction in the time-to-hire for open supply chain positions. Retaining talent/reducing turnover was cited by 28% while 27% noted the lack of diversity in the talent pool.

Alcott continues:

“While companies continue to explore strategies to address these challenges within the supply chain industry, what implications does it hold for individuals like you who aspire and vie for leadership positions in supply chain management?”

The company than advised readers to “future-proof” yourself with essential skills. These include essential hard skills like:

• Understanding end-to-end supply chain operations
• Mastery of data analytics
• Staying up to date with supply chain technologies
• Risk management skills
• Inventory management skills

Alcott also said soft skills need to continue developing, including problem-solving, collaboration, customer focus, and adaptability.