Chuck Durney, a former logistics executive at several consumer products companies, is Senior Vice President, Business Development for Beampines Inc., a talent management firm.
Do you want to be noticed for your career accomplishments? The most important factor in getting noticed is how well you do your job. These days, however, "doing your job well" doesn't just mean getting results; it also encompasses how you get them.
To advance your career, you need to create a "personal brand" that sets you apart and makes you unique. Creating a personal brand begins with maintaining a high level of job performance. It also includes marshalling the skills you already have or are learning.
Here are some practical suggestions for advancing your supply chain career and for developing the personal brand that will get you noticed:
Avoid looking for the next position on the corporate ladder before you have met or exceeded your current goals and objectives. Setting personal goals is great, but it must be coupled with the realistic approach of proving yourself at every step on the corporate ladder. You can probably come up with a list of colleagues who spent too much time looking for their next position or promotion and were not focused on doing their best in their current jobs. If their motives were obvious to you, then sooner or later others will notice if you take the same approach.
Keep in mind that the portfolio of skills, education, and personal characteristics needed for success is constantly evolving. Competition for high-level positions is more intense than ever due to mergers, acquisitions, and general economic conditions. Adding to the competitive pressure is the fact that the caliber of people entering the field has continued to improve since companies began to recognize that supply chain and logistics are important contributors to a company's short-term and long-term financial health. It should come as no surprise that at successful companies, supply chain managers have moved up in the corporate hierarchy.
Let's face the facts: We're not all going to be the vice president of supply chain. It won't be easy to become director or manager of a key functional area either, because those positions now require some skills and competencies that may not have been your responsibility in the past. At the same time, traditional areas like transportation and distribution are still important ingredients for success.
Leadership ability is a key characteristic of "promotable" individuals. When senior management looks for people to promote as part of its succession planning, it looks for those who clearly have leadership ability. The type of leader you are and your approach to getting things done through others count as blue chips when you're under consideration for advancement.
Companies seek to promote people who can demonstrate accomplishments in two areas—leadership and cross-functional competencies and skill sets. Here's a quick rundown of desirable leadership skills:
People skills. Listening, providing feedback, training, and developing others are basic building blocks of effective management.
A track record of selecting qualified people. What better thing can be said about a manager than that he or she selects and develops good people? Before interviewing a potential subordinate, know what skills and personal characteristics are needed to be successful in that position. Frame your questions so that the candidates' responses can be evaluated properly.
Team development and communication. The cross-functional nature of supply chain management makes team building very important. Do you provide your team with clearly communicated expectations and goals?
A record of relationship building. Relationships are fundamental to supply chain management. Collaboration with marketing, sales, information technology, and many other areas depends on you.
Ability to handle stress and manage crises. Disruptions are a fact of life in supply chains, and how you handle and communicate during a crisis will have a big impact on your reputation. Have carefully thought-out emergency plans in place.
Companies also look for individuals with crossfunctional experience. Here are some areas where you should have extensive knowledge:
Procurement. Most of us have experience with thirdparty negotiations in such areas as transportation and warehousing. However, expertise in purchasing materials as well as services is now a requirement in many organizations.
Global operations. Many products and materials are sourced internationally today so knowledge of foreign supply chain operations has become an absolute must.
Quality initiatives. Because lean systems, Six Sigma, and other quality programs reach across the entire organization, you need to understand how they affect supply chain management.
Manufacturing. Knowledge of just-in-time (JIT), demand planning, and other manufacturing considerations has become an important requirement for supply chain professionals.
Finance. Understanding the impact of capital, cost of inventory, and cash flow on current and future business conditions is paramount.
Language. More supply chain functions than ever are carried out in other countries. Speaking another language can be very helpful for building relationships and understanding what's going on overseas.
Practical steps for success
There are a number of steps you can take to build your reputation and enhance your "personal brand." First, of course, is to become a better leader. And, as mentioned, building and fostering good relationships across the board is critical. Life will send you plenty of enemies—there is no need to go out looking for them.
Always return calls from people who are requesting information. It's simple advice, but it's a surefire way to maintain good relations and get to know your customers better. You can also become more involved with your customers by teaming up with a salesperson for a visit.
To improve your breadth of knowledge, volunteer for projects or a task force outside of your immediate area of responsibility. And read! Read more about the industry you compete in to stay current with your competitors as well as industry news and developments. Join and participate in professional organizations.
Don't underestimate the importance of how you present yourself. Hone your presentation skills and prepare for meetings so people will leave feeling good about you. Document your accomplishments by sending reports and e-mails; management likes to be kept abreast of status.
Take performance reviews to heart, and not just reviews from your boss. Ask others whom you trust for feedback regarding your overall performance or how you handled a particular situation. And don't be afraid to ask for help—not just from your human resources department but also from people in manufacturing, marketing, finance, and other areas you work with.
Finally, be a mentor and a friend to those who have the potential and the desire to get ahead. Help the young assistant brand manager or the financial analyst make sense of what you do.
The world isn't getting any simpler, just smaller and more competitive. If you want to get ahead, you must learn to survive in a constantly changing environment where how you do something is just as important as what you do.
Businesses are cautiously optimistic as peak holiday shipping season draws near, with many anticipating year-over-year sales increases as they continue to battle challenging supply chain conditions.
That’s according to the DHL 2024 Peak Season Shipping Survey, released today by express shipping service provider DHL Express U.S. The company surveyed small and medium-sized enterprises (SMEs) to gauge their holiday business outlook compared to last year and found that a mix of optimism and “strategic caution” prevail ahead of this year’s peak.
Nearly half (48%) of the SMEs surveyed said they expect higher holiday sales compared to 2023, while 44% said they expect sales to remain on par with last year, and just 8% said they foresee a decline. Respondents said the main challenges to hitting those goals are supply chain problems (35%), inflation and fluctuating consumer demand (34%), staffing (16%), and inventory challenges (14%).
But respondents said they have strategies in place to tackle those issues. Many said they began preparing for holiday season earlier this year—with 45% saying they started planning in Q2 or earlier, up from 39% last year. Other strategies include expanding into international markets (35%) and leveraging holiday discounts (32%).
Sixty percent of respondents said they will prioritize personalized customer service as a way to enhance customer interactions and loyalty this year. Still others said they will invest in enhanced web and mobile experiences (23%) and eco-friendly practices (13%) to draw customers this holiday season.
The practice consists of 5,000 professionals from Accenture and from Avanade—the consulting firm’s joint venture with Microsoft. They will be supported by Microsoft product specialists who will work closely with the Accenture Center for Advanced AI. Together, that group will collaborate on AI and Copilot agent templates, extensions, plugins, and connectors to help organizations leverage their data and gen AI to reduce costs, improve efficiencies and drive growth, they said on Thursday.
Accenture and Avanade say they have already developed some AI tools for these applications. For example, a supplier discovery and risk agent can deliver real-time market insights, agile supply chain responses, and better vendor selection, which could result in up to 15% cost savings. And a procure-to-pay agent could improve efficiency by up to 40% and enhance vendor relations and satisfaction by addressing urgent payment requirements and avoiding disruptions of key services
Likewise, they have also built solutions for clients using Microsoft 365 Copilot technology. For example, they have created Copilots for a variety of industries and functions including finance, manufacturing, supply chain, retail, and consumer goods and healthcare.
Another part of the new practice will be educating clients how to use the technology, using an “Azure Generative AI Engineer Nanodegree program” to teach users how to design, build, and operationalize AI-driven applications on Azure, Microsoft’s cloud computing platform. The online classes will teach learners how to use AI models to solve real-world problems through automation, data insights, and generative AI solutions, the firms said.
“We are pleased to deepen our collaboration with Accenture to help our mutual customers develop AI-first business processes responsibly and securely, while helping them drive market differentiation,” Judson Althoff, executive vice president and chief commercial officer at Microsoft, said in a release. “By bringing together Copilots and human ambition, paired with the autonomous capabilities of an agent, we can accelerate AI transformation for organizations across industries and help them realize successful business outcomes through pragmatic innovation.”
Census data showed that overall retail sales in October were up 0.4% seasonally adjusted month over month and up 2.8% unadjusted year over year. That compared with increases of 0.8% month over month and 2% year over year in September.
October’s core retail sales as defined by NRF — based on the Census data but excluding automobile dealers, gasoline stations and restaurants — were unchanged seasonally adjusted month over month but up 5.4% unadjusted year over year.
Core sales were up 3.5% year over year for the first 10 months of the year, in line with NRF’s forecast for 2024 retail sales to grow between 2.5% and 3.5% over 2023. NRF is forecasting that 2024 holiday sales during November and December will also increase between 2.5% and 3.5% over the same time last year.
“October’s pickup in retail sales shows a healthy pace of spending as many consumers got an early start on holiday shopping,” NRF Chief Economist Jack Kleinhenz said in a release. “October sales were a good early step forward into the holiday shopping season, which is now fully underway. Falling energy prices have likely provided extra dollars for household spending on retail merchandise.”
Despite that positive trend, market watchers cautioned that retailers still need to offer competitive value propositions and customer experience in order to succeed in the holiday season. “The American consumer has been more resilient than anyone could have expected. But that isn’t a free pass for retailers to under invest in their stores,” Nikki Baird, VP of strategy & product at Aptos, a solutions provider of unified retail technology based out of Alpharetta, Georgia, said in a statement. “They need to make investments in labor, customer experience tech, and digital transformation. It has been too easy to kick the can down the road until you suddenly realize there’s no road left.”
A similar message came from Chip West, a retail and consumer behavior expert at the marketing, packaging, print and supply chain solutions provider RRD. “October’s increase proved to be slightly better than projections and was likely boosted by lower fuel prices. As inflation slowed for a number of months, prices in several categories have stabilized, with some even showing declines, offering further relief to consumers,” West said. “The data also looks to be a positive sign as we kick off the holiday shopping season. Promotions and discounts will play a prominent role in holiday shopping behavior as they are key influencers in consumer’s purchasing decisions.”
Third-party logistics (3PL) providers’ share of large real estate leases across the U.S. rose significantly through the third quarter of 2024 compared to the same time last year, as more retailers and wholesalers have been outsourcing their warehouse and distribution operations to 3PLs, according to a report from real estate firm CBRE.
Specifically, 3PLs’ share of bulk industrial leasing activity—covering leases of 100,000 square feet or more—rose to 34.1% through Q3 of this year from 30.6% through Q3 last year. By raw numbers, 3PLs have accounted for 498 bulk leases so far this year, up by 9% from the 457 at this time last year.
By category, 3PLs’ share of 34.1% ranked above other occupier types such as: general retail and wholesale (26.6), food and beverage (9.0), automobiles, tires, and parts (7.9), manufacturing (6.2), building materials and construction (5.6), e-commerce only (5.6), medical (2.7), and undisclosed (2.3).
On a quarterly basis, bulk leasing by 3PLs has steadily increased this year, reversing the steadily decreasing trend of 2023. CBRE pointed to three main reasons for that resurgence:
Import Flexibility. Labor disruptions, extreme weather patterns, and geopolitical uncertainty have led many companies to diversify their import locations. Using 3PLs allows for more inventory flexibility, a key component to retailer success in times of uncertainty.
Capital Allocation/Preservation. Warehousing and distribution of goods is expensive, draining capital resources for transportation costs, rent, or labor. But outsourcing to 3PLs provides companies with more flexibility to increase or decrease their inventories without any risk of signing their own lease commitments. And using a 3PL also allows companies to switch supply chain costs from capital to operational expenses.
Focus on Core Competency. Outsourcing their logistics operations to 3PLs allows companies to focus on core business competencies that drive revenue, such as product development, sales, and customer service.
Looking into the future, these same trends will continue to drive 3PL warehouse demand, CBRE said. Economic, geopolitical and supply chain uncertainty will remain prevalent in the coming quarters but will not diminish the need to effectively manage inventory levels.
That result came from the company’s “GEP Global Supply Chain Volatility Index,” an indicator tracking demand conditions, shortages, transportation costs, inventories, and backlogs based on a monthly survey of 27,000 businesses. The October index number was -0.39, which was up only slightly from its level of -0.43 in September.
Researchers found a steep rise in slack across North American supply chains due to declining factory activity in the U.S. In fact, purchasing managers at U.S. manufacturers made their strongest cutbacks to buying volumes in nearly a year and a half, indicating that factories in the world's largest economy are preparing for lower production volumes, GEP said.
Elsewhere, suppliers feeding Asia also reported spare capacity in October, albeit to a lesser degree than seen in Western markets. Europe's industrial plight remained a key feature of the data in October, as vendor capacity was significantly underutilized, reflecting a continuation of subdued demand in key manufacturing hubs across the continent.
"We're in a buyers' market. October is the fourth straight month that suppliers worldwide reported spare capacity, with notable contractions in factory demand across North America and Europe, underscoring the challenging outlook for Western manufacturers," Todd Bremer, vice president, GEP, said in a release. "President-elect Trump inherits U.S. manufacturers with plenty of spare capacity while in contrast, China's modest rebound and strong expansion in India demonstrate greater resilience in Asia."