Trends and Career Prospects
The growing requirement in Supply Chain as an integral part of organizations has also led to career growth in the field. Thus, the industry urgently needs supply chain talent by creating awareness about the discipline such as the advantages of pursuing a career field such as supply chain. To overcome various challenges in the supply chain management and as a result new trends based on new innovations are being designed for a guaranteed high-quality customer experiences.
Greatest Trends in Supply Chain Analytics
One of the greatest trends in Supply Chain Analytics is the use of technologies like Block chain, AI / ML and IoT.
Block Chain per se will be one of the most widely used platforms in all Supply Chains in the near future. Especially when dealing with the Supplier side of transactions.
AI / ML will form the base for all mundane transactions and decision making. This would take care of most of the workflow inputs and interventions at the transaction level and decision making in real-time basis, leaving more time for SC practitioners to better plan, derive more insights and research on future trends in Supply Chain.
Internet of Things (IoT) devices will become the bedrock for all SC communication, data point collection and real-time analysis. Right from Building Analytics, to SC entity hand-shakes to Smarter Cities, the applications of IoT will keep multiplying and will be tuned to work seamlessly with all technologies across the Supply Chain.
As Companies and Markets grow globally so also grows their needs for SC Analytics talent. With the “Make in India” mantra and the big daddies like Apple, Tesla and others opening Shop, the need for Business / SC Analysts become all the more crucial in the Indian SC ecosystem.
Positions can start from SC entity specific Analyst, like, Procurement Analyst to leading the entire Supply chain Analytics. A recent study indicates that in coming years being a Business / SC Analyst will be imperative to lead a Business unit and hold positions at CXO levels.
The RACE ADVANTAGE
REVA University’s Business Analytics program from REVA Academy for Corporate Excellence (RACE) provides a holistic platform to train, develop and nurture Business Analysts.
A unique program in India which not only emphasizes on teaching and training from Statistics to Advanced Analytics but also in imparting knowledge in various Business areas like Supply Chain, Marketing, Finance etc.
Apart from Assignments and Capstone projects, which help with hands-on experience, RACE mentors its students in presenting at various International Forums held at IIM Bangalore, IISc etc. It mentors students beyond the course completion and supports them in providing opportunities with Corporates.
About the Author
Prahlad Karnam, Founder and CEO, People Cube.
Prahlad is a Strategist, Industry Leader, Change Expert and a Leadership Coach. An alumnus of Columbia Business School and Harvard with 20 years of experience, he has led several engagements and business units globally guiding companies in their Business, Operations, IT and Analytics Strategy and Execution. In his current avatar, he is working with a team of experts in helping organizations achieve the best people outcomes with the aid of Analytics and AI. An avid reader and exponent of new age ideas and technology, Prahlad believes in sharing and spreading his experience by way of teaching at Universities and Mentoring entrepreneurs in their journey to growth and excellence.