ability dynamics latest research results on ‘Breaking the Cycle of Skill Loss in Supply Chain and Procurement’ addresses the complexities of supply chain and procurement (SC&P) functions and the increasing difficulty for professionals to keep up with the latest changes and technology. We surveyed over 400 junior and senior supply chain and procurement professionals and found that employees feel challenged by the demands of their role, leading them to leave their organizations and employers struggling to fill the new skills gap to close their team. Our research draws on the importance of training in both roles as part of the solution. Here’s a glimpse into some key takeaways…
The supply chain and procurement landscape
As the world becomes more connected, the SC&P landscape is more complex than ever. Many professionals struggle with various challenges, including scarcity of raw materials and adapting to new technologies. In addition, the rising cost of inflation and high-pressure labor are preventing companies from remaining competitive.
Our research shows that 98% of junior and senior SC&P professionals believe their roles face significant challenges. These issues range from maintaining security and continuity of supply in the face of prolonged supply disruptions to sustained cost savings despite inflation and changes in commodity costs.
To maintain resilience and continuity of supply, SC&P professionals must proactively identify and prepare for potential disruptions and maintain close relationships with suppliers to quickly identify and resolve issues as they arise. The need for skilled SC&P is critical, yet organizations struggle to retain employees, reach their full potential, or attract new talent with the skills required.
Impact of employee attrition and benefits of training
The study covers a range of insights, in particular outlining the difficulties companies face in retaining talent across their supply chain and sourcing functions. In addition, we will look at the causes and consequences of employee attrition and how it affects individuals at different levels of leadership in the supply chain and procurement functions.
Given the variety of issues professionals face in managing their roles, SC&P roles must be filled by qualified and trained professionals. For more engaged and better-resourced employees, SC&P leaders should view training as an essential investment in their talent pipeline—not a luxury that can be switched on and off without impact. We will explore the role of skill development in retaining employees and building sustainable organizations, and examine trends in training investments, including where organizations should allocate budgets to best influence employee and team performance.
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