MHI Solutions - Volume 4, Issue 2 - (Page 116)
of the Supply Chain
Well, the answer is-we don't really know all that
precisely. Every year, the Council of Supply Chain
Management Professionals (CSCMP) publishes its
Annual State of Logistics Report. And the most recent
edition says the cost of U.S. business logistics is 8.3
percent of U.S. GDP, or about $1.45 trillion.
While that's the number typically used, there isn't
much more available insight into answering the question. Fortunately, a major step toward developing specific economic impact metrics for the supply chain has been made
by Dana Magliola, Lindsay Schilleman and John Elliott.
They are business graduate students at North Carolina State
University. And after some intense number crunching, they have
definitively identified the economic impact of supply chain for
their state in a new report, Understanding the Economic Impact
of North Carolina's Supply Chain: Conduit for Prosperity and
Just as important, they have developed a methodology to determine
the economic impact of supply chain for other states, regions, cities-
even the entire country. MHI sponsored their report at NC State's
Poole School of Management's Supply Chain Resource Cooperative.
According to the report, more than 479,800 people work in the
supply chain in North Carolina. That's 12 percent of the state's workforce. The supply chain has an indirect and induced impact on an
additional 770,000 jobs. Combined, that means supply chain directly
or indirectly impacts 31 percent of the North Carolina workforce.
It is also worth noting that the average annual labor income for
people working in the supply chain in North Carolina is just over
$67,800, compared to a statewide income average of $43,300.
When it comes to output, the North Carolina supply chain
accounts for a value add GDP contribution of $150 billion. That's
32 percent of state GDP.
BY GARY FORGER,
o, exactly how much economic impact does the
supply chain have in the United States?
of supply chain
in any area of
Table of Contents for the Digital Edition of MHI Solutions - Volume 4, Issue 2
Emerging Technologies Produce Business Benefits and Talent Challenges
Developing a Talent Management Strategy
Collaborating with Education
Love your Supply Chain Career?
The Power of Mentoring
Eleven Ways to Diversify the Supply Chain: Insights from the Field
How Do You Build A Successful Career in Supply Chain?
Donated Equipment Gives High School, Community College Students Hands-On Experience
Industry Focus: Retail
2016 MHI Innovation Award to be Presented at MODEX 2016
Economic Market Analysis
The Jobs, Wages, Output and Taxes of the Supply Chain
Solutions Group Update
Scholarship Winners: Where Are They Now?
Index of Advertisers
MHI Solutions - Volume 4, Issue 2