We post this Supply Chain Matters blog commentary on the designated celebration of Supply Chain Professionals Appreciation Day.
The Council of Supply Chain Management Professionals (CSCMP) had earlier designated May 21 for this recognition, which calls for a month-long celebration. Plans call for the posting of videos, member testimonials and event highlights on social media channels such as Twitter, Facebook, Instagram, and Linked-In. The hashtag for posting is designated as #ThisIsSupplyChain for the month of May.
Appreciation for supply chain management professionals seems to be trending upward. Last week, The Wall Street Journal citing data from the Institute for Supply Management (ISM) reported that average salaries for supply chain professionals rose 4.1 percent in 2017, (Paid subscription required) outpacing broader U.S. wage gains. “Half of supply-management professionals (procurement) polled by ISM earned $100,000 or more last year, up from 47 percent in 2016. Average overall compensation, including bonuses, was $117,425.”
An ISM executive indicated to the WSJ that salaries could rise even higher in 2018 as businesses grapple with a host of business challenges that invariably involve elements of supply chain strategies. They include rising fuel and exploding transportation costs, restricted capacity and as Supply Chain Matters has continually highlighted, growing domestic and international trade concerns.
We also called attention to a recent APICS “2018 Supply Chain Compensation and Career Survey Report”, a research report comprised of data inputted from a reported 2600 U.S. based supply chain professionals. That survey revealed a healthy outlook for those employed in the various areas that umbrella supply chain management, with wage increases and high job satisfaction reported across the profession. Average salary levels for broader areas of supply chain professionals was pegged as $85,210 in 2017. The authors noted that supply chain professionals with the highest level of tenure also receive the highest salaries. A $39,818 gap separates the average salaries of those with at least 20 years of work experience in the supply chain field and those with less than one year in the field. However, possibly due to the current demand for recent supply chain graduates, the average salary for recent graduates is slightly higher than the salary level for those with one to three years of tenure.
This is all very encouraging news and should be especially highlighted today.
As this author often relates to audiences, it’s the proverbial good news, not-so-good news headline. The good being monetary and other forms of positive recognition after many years of viewing supply chain management as a cost-center service. The latter category, as many of our readers are likely acutely aware, the supply chain is increasingly being recognized as a strategic capability and key facilitator for successful business outcomes. In that vein, the ongoing set of related challenges are growing more complex and taking on many business focused dimensions, requiring a variety of broader skills and knowledge. But that is for another day of commentary.
For today, Supply Chain Matters extends our Tip-of-the Hat recognition to all those that contribute to supply chain management. Have a Happy Supply Chain Professionals Appreciation Day and Month.
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