MHI Solutions - Volume 3, Issue 2 - (Page 89)

EDUCATION The Demand for Supply Chain Talent is Growing, and the Supply is Shrinking By DANIEl STANTON, MHI VICE PRESIDENT, EDUCATION AND PROFESSIONAl DEVElOPMENT "W hat's keeping you up at night?" It's the question we've all been trained to ask when we want to understand the big challenges that our colleagues are facing. And for supply chain executives these days, the answers almost always involve people. How do we find, train and retain the talent that we need to sustain and grow our companies? The economy is picking up, unemployment is low and interest rates are favorable. But Baby Boomers are retiring in record numbers, and the labor force participation rate is at a record low. The demand for talent is growing, and the supply is's a perfect storm for employers. And to make matters worse, many jobs are changing and becoming more complex through the constant introduction of new technologies. The recession is over, and growth is in the air. The 2015 MHI Annual Industry Report revealed that most supply chain leaders now see access to talent as a larger barrier to innovation than access to capital. And the U.S. Roadmap for Material Handling & Logistics highlighted the changing workforce as one of the most important challenges to future supply chains. In some ways, this is a good problem to have. But it is a problem, and many companies are starting to feel the economic impact through high recruiting costs and long recruiting lead times. If the trend continues, then it could lead to wage inflation. This difficult environment has been years in the making, and can't be fixed overnight. But MHI has a number of initiatives underway to address both the short- and long-term talent needs of our industry. We're investing in programs that are advancing the education of engineers, managers, technicians, and associates throughout the supply chain. At ProMat 2015 we'll host a Workforce Summit on March 25 and 26 that brings industry leaders and academics together to share best practices and collaborate on solutions. From manufacturers to retailers to logistics providers, the Summit provides a forum for understanding the broad effects that the talent crisis is having on the supply chain. * MHI SolutIonS 89

Table of Contents for the Digital Edition of MHI Solutions - Volume 3, Issue 2

CEO Update
Wearable and Mobile Technologies
The Rise of Automation and Robotics in Supply Chains
Disruptive Technology
The Power of the Cloud
Connections between Education, Industry Key to Training the Workforce of the Future
The Food and Beverage Industry
ProMat 2015 Preview
2015 MHI Innovation Awards to be Awarded During ProMat
Industry Trends
Economic Market Analysis
Collaborate With Supply Chain Management Programs to Solve the Workforce Shortage
Safer Handling
MHI Solution and Product Groups—Moving Forward
Solution Group Update
Solutions Spotlight
Roadmap Update
Where Are They Now
MHI News
Index of Advertisers

MHI Solutions - Volume 3, Issue 2