Career Development - Essay Example

Supply Chain Management is a set of methods developed and utilized to efficiently integrate suppliers, manufacturers, warehouses, and stores, so thatmerchandise is produced and distributed at the right quantities, to the right locations, and at the right time, in order to minimize system wide cost while satisfying service level requirements (Macmillan 2005). A supply chain comprises a network of suppliers, manufacturers, customers, and distributors that share materials and information (“Supply Chain Management”, 2005). The duties of a Supply Chain Manager (SCM) includes managing orders, overseeing production, creating a feasible production schedule, coordinating production and distribution plans and overall planning and forecasting. Duties also include transportation planning and execution paying close attention to tracking. A successful SCM continually focus’ on strategic network optimization, supplier/purchaser relations and cost reductions. SCM’s diagnose potential economic indicators; evaluate reporting documentation quality and solve problems (“Supply Chain Management”, 2005). Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion and all logistics management behaviors. It also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers or customers. In essence, supply chain management integrates supply and demand management within and across companies. Logistics management is the element of supply chain management that plans, implements and controls the efficient forward and reverse flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customers’ requirements (College of Business Administration, 2005). Many types of businesses and organizations most likely to employ supply chain managers include communication, consulting, military, manufacturing, retail, computer service, telecommunications and transportation firms, equipment manufacturers, print media, public warehouses and wholesale distributors (College of Business Administration, 2005). Companies such as Cisco Systems offer wall-to-wall management of chain supplies including procurement of product components, standard raw materials, customised supplies, and other goods needed to conducted business operation. This process includes selecting the supplier, submitting formal requests for goods and services to suppliers, getting approval from the buyer, processing the purchase order and fulfilling the order with delivery receipt (“What is Supply Chain Management”, 2005). Other companies sell supply chain software development. New Generation Computing specializes in software for worldwide business and industry specialists in sewn products. NVision Global Technology Solutions, Inc. develops supply chain software providing supply management services. Supply chain planning software uses math algorithms to help improve the efficiency of the supply chain and reduce inventory. Supply chain execution software is intended to automate the different steps of the supply chain (Executive Guides, 2004). John Holland’s theory of career types describes six general types that can be applied to people’s personalities and to work environments; Realistic, Investigative, Artistic, Social, Enterprising and Conventional. A career in supply chain management as a vocation touches on all of these aspects except realistic and conventional. Realistic includes people who work with tools, machines, or animals separate from people. Conventional personalities enjoy settings that are highly structured in which they have little independence. Traits of the investigative type involve intellectual challenges that require using reasoning. These personalities enjoy puzzles, intellectual challenges, and working independently to solve problems. Artistic involves creative environments in which people have very little structure. Creativity and personal expression are essential competencies for these jobs. Social involves people working together to support and understand each other. Communication and listening competencies are essential for these jobs. These personalities like to use data and/or their social skills to get others to do what they want, to accomplish group goals (Parsons, Williamson, n.d.). An employment agency (TopJobs), currently has 22 openings for supply management personnel, Supplychainrecruit.com had five. Supply management departments encompass many different positions at various levels and supply managers are involved in a broad career. While negotiations, price strategies, contracts and budgets are all common areas in which supply management professionals can expect to work in the future, supply management is a career that can be applied to virtually any area of interest. Whatever the specific area of interest pursued, theres no question that supply management plays, and will continue to play, a significant role in business and will continue to be an exciting and influential career opportunity well into the 21st century. In the future, supply managers will need to be prepared to add product value, increase quality, reduce costs and increase profits by addressing the needs of external and internal customers through such tools as e-commerce, supplier relations, supplier selection, negotiations, operations, transportation, inventory, technology and customer relations (“Careers in Purchasing”, 2006). One of the most valuable tools for supply managers around the globe is the Internet. The World Wide Web offers a fast and low-cost way to gather information on suppliers, products and services. Every day, supply managers are surfing the Internet to source for suppliers, view product demonstrations, track packages and shipments, conduct online bidding, view electronic catalogs, research economic trends, check current exchange rates, order goods and services, research prices in commodity markets, explore price trends and e-mail suppliers and colleagues. The usage and development of other e-commerce and technology tools allow organizations to forge tighter supply chain links with their suppliers and reduce the costs of doing business. New supply management tools and technologies are being created and adopted each day to increase the velocity of business and improve operational efficiencies. Supply managers are and will in the future need to be on the leading edge of business practices (“Careers in Purchasing”, 2006). Bureau of Labor Statistics predicts purchasing managers can expect a 4.8 percent job growth; buying managers, an 8.6 percent growth in this field between 2002 and 2012 (“Study to Become”, 2005). As Elizabeth K. Roberts Student, Department of Supply Chain Management W.P. Carey School of Business at Arizona State University, says: Supply chain management is a fantastic career to pursue due to the plethora of different types of jobs that are available. Since supply chain management is so large and all-encompassing, a career may include working as a buyer, negotiating contracts, being an inventory manager, an import/export goods manager, transportation manager - the opportunities are endless. When I decided supply chain management was for me, it was because I never wanted to hold the same position for my entire career, but hopefully start with a foundation and build upon it. I am now able to enjoy having many different career path choices and work in almost any company since everyone uses supply chain management (“Careers in Purchasing”, 2006). According to various graduate recruitment research, the 2005 graduate employment recruiting year projects an optimistic outlook for those entering the work force. Graduate prospects’ latest salary and vacancy survey shows an optimistic year ahead for this year’s graduates (“Overview”, 2005). Based on more than 14,000 vacancies advertised in Prospects Directory, the average salary for new graduates in 2005 averages £21,997. This ranged from a low of £13,242 to a high of £36,000. According to a survey of 226 employers from the Association of Graduate Recruiters (AGR), 2005 median starting salaries will experience a 4.8 percent increase, the highest improvement in the previous five years. Not all companies are planning 2005 salary increase, however. Almost half of AGR employers surveyed believe their salaries would remain the same as 2004 levels. These salary figures are from chiefly large companies and organisations. A substantial number of graduates obtain posts which are not specifically targeted at degree holders. As a result, the average salary figures from these sources are likely to be higher, as there is a bias towards larger firms and specific graduate jobs. A further 15 percent of companies surveyed expect to grant no more than a 2.5 percent ‘cost of living’ increase. Another 17 percent plan to raise salaries by five percent. Six percent of employers anticipate paying increases of 10 percent or more. In the AGR survey, the largest salary increases for 2005 are being predicted for accountancy or professional services (10 percent), transport (7.7 percent), the public sector (also 7.7 percent) and oil companies (6.7 percent) (“Overview”, 2005). When measured by industry, the AGR survey predicts that investment banks or fund managers, consulting or business services firms, accountancy or professional services firms and banking will see the largest growth in vacancies. Only five sectors – the armed forces, law, oil, the public sector, and chemical and pharmaceutical companies anticipate lower graduate intakes for 2005. The investment bank industry forecasts graduate vacancies to 33.3 percent higher than in 2004. Other organisations that predict upward trends in vacancies are the Consulting or business services (26.8 percent), accountancy or professional services (26.4 percent), banking and financial services (26.2 percent), information technologies (23.3 percent), energy, water or utility (22.4 percent), engineering or industry company (12.8 percent), construction company or consultancy (12.6 percent), retail (9.8 percent), telecommunications (9.4 percent), fast moving consumer goods company (6.8 percent), transport or logistics company (5.0 percent), insurance company (3.4 percent). Four categories expect downward trends in job vacancies for graduates. Law firms are down 1.4 percent, armed forces (4.1 percent), oil companies (7.5 percent), public sector (8.4 percent) and chemical or pharmaceutical companies (25.8 percent) (“Overview”, 2005). London remains the graduate recruitment Mecca for job positions in the UK, with one in seven (13.9 percent) vacancies advertised in London offering the highest average salary of £26,591. According to the AGR survey, a substantial rise in graduate vacancies is predicted this year. In terms of employer industry, management consultancy sector positions command the highest average salary at £34,724 followed by the oil, mining and extractive industries at £26,474. Among the 226 employers polled in the survey, the total number of expected graduate vacancies in the UK is 16,575, a rise of 14.5 percent of those recruited in 2004. Although this number is large, it only represents approximately 10 percent of the total number of jobs for new graduates (“Overview”, 2005). According to a winter 2005 Graduate Recruitment Survey, 87 percent of graduate recruits will be offered a pension scheme, 52 percent a private healthcare package and 34 percent share options. At least 36 percent of the graduate employers surveyed are offering initial bonuses this year, with a median amount of £2,000. Almost all employers intend to pay their bonuses after graduates have actually started work, rather than when they accept the job offer (“Overview”, 2005). According to the report Seven Years On: Graduate Careers in a Changing Labour Market, 43 percent of those in employment were in non-graduate jobs immediately after graduation in July 1995. By December 2002, this number had fallen to just 11 percent. Initial graduate employment figures are not a reliable indicator of long term labour market figures. Of the 4,500 respondents, over three-quarters employed or self-employed positions related to their long-term career plans and using skills learned from courses they studied. At least 85 percent of those interviewed said they were very or reasonably satisfied with the way their career had progressed (“Overview”, 2005). According to the Association of Graduate Recruiters (AGR), of those who started work in 2003, the median salary a year later was £22,000, up 8.4 percent from 2002. Graduates who began work in 2001 earning an average of £27,800 (and who have remained with their first employers) earned an average salary in 2004 that was 32.8 percent higher than the 2004 median graduate starting salary. Similar figures were also reported by the Incomes Data Services. Graduates recruited in 2001 were found to have a median salary lead of 32.6 percent in 2004, with a median salary of £28,000; while graduates recruited in 1999 had a median salary lead of 56.3 percent, with a median salary of £31,927 (“Overview”, 2005). Figures from the Destination of Leavers of Higher Education (DLHE) survey, which polled all UK citizens who graduated from a UK university in 2003, show that 4,190 graduates from UK universities in 2003 (2.1 percent) were self-employed or freelance six months after graduating. This proportion is more than doubled for Masters Degree graduates, with 5 percent freelance or self-employed six months from graduation. At least 3.1 percent of doctoral graduates entered self-employment. Male graduates were almost twice as likely as female graduates to go into self-employment upon graduation (“Overview”, 2005). Interview with a supply manager: At what point in your education process did you decide pursue this type of employment? What other types of careers did you consider? What employment path led you to this position and how long have you been in this type of business? What related jobs can a supply manager easily transition to? What types of software do you use, how reliable and accurate is it and how often is selected software updated? Is there such a thing as a typical day at the office and describe what that might be. What times of the year are busiest? Is it pre-holiday when orders are shipped and how far in advance do you plan ahead for a busy end-product season? How many different entities have to be coordinated for a product to be conceived through its implementation or consumption by the buyer? When you think of the people you went to school with who had similar ambitions, how many are involved in supply management, how many left the profession and are you personally satisfied with your career choice? Have you considered another profession whether similar or not? How easy would it be for a supply chain manager, already adapted to a multi-faceted job, to transition to another field? What qualities does a person possess as a result of his supply chain experience? What is your biggest challenge? Is it people related, schedules and deadlines, software issues or something else? How much of a company’s profitability depend on your team’s performance? What kind of pressure is this on you and how does the pressure alone affect your job performance? What gives you the most satisfaction from your job? How many hours do you work per week and how does this affect your family and social life? A career doesn’t just happen upon graduation. An effective job search involves many facets of networking to be seen by as many prospective employers as possible. Implementing a well-focused job search campaign will lead to specific employment opportunities.  A major objective for every graduate student should be to become aware of the range of employment and professional opportunities that exist for individuals receiving a graduate degree. A good way to learn about career options is to find out about career outcomes for graduates from similar programs. Many academic professional societies maintain information about the types of career opportunities available for graduates. Talk to classmates about their plans. Confer with colleagues, present or future, who are making choices that intrigue you, even if those choices appear to be divergent from ones own career goals. Recent graduates may have already taken internships or student employment in the field of their choice. An internship provides on-the-job work experience related to academic major or career goals. Job fairs offer an excellent opportunity for students and employers to connect. Career guidance and planning services are widely available. The Internet can be an essential tool for extending your research into career planning, self assessment, labour market trends, job search, and various occupations. To begin a specific career choice or at a particular corporation, an internship is a good avenue to begin the journey. An internship provides competitive advantage in the job market. It equips a recent graduate with professional experience, and establishes a network of people who can help you build your career. Through the internship, students learn to adapt to new situations, develop their communication and social skills and gain insight into the workings of a professional environment. Tell me, and I will forget; show me, and I will remember; let me do, and I will learn. - Confucius (“Internships and Work Experience”, n.d.). Employers look for work experience. They are particularly interested in transportable expertise and in knowledge with relevant work surroundings. Each placement is selected specifically to act as a building block on a students selected career path, thus strengthening the students resume. Internships allow graduates the opportunity to more accurately consider whether a career is fitting for them before making a commitment. Critical to learning through experience is the development of the ability to reflect on, and learn through, each new experience. It is widely recognised that there are certain skills and personal characteristics that are advantageous to success in both employment and life. Key skills attractive to prospective employers include communication, numeric skills, information technology, problem solving and people skills. Self learning can be learned and evidenced through internships. Networking, generating personal contacts, is important in the furtherance of a profession. Many interns have used their work experience to secure work within the company they have been interning at (“Internships and Work Experience”, n.d.). A supply management intern performs daily responsibilities supporting the supply manager working on projects to gain an understanding of how inventory levels satisfy demand and meet financial objectives associated with fulfillment, turnover, marketing contribution, ad ratio, returns and margins. The intern also assists the supply manager in managing production schedules and creating purchase order commitments including style/color/size quantities for warehouse sites. In addition, interns learn and help with external communication with vendors via e-mail or fax to ensure timely delivery of product and for keeping communication flowing through numerous departments (“Supply Internships”, 2005). References “Careers in Purchasing and Supply Management”. (2006). Institute for Supply Management. Retrieved 6 January, 2006 from College of Business Administration. (16 December, 2005). Logistics and Supply Chain Management. University of North Texas. Retrieved 6 January, 2006 from Executive Guides. (28 December, 2004). Supply Chain. Darwin. Retrieved 6 January, 2006 from “Internships and Work Experience”. (n.d.). Huron University. Retrieved 6 January, 2006 from < http://www.huron.ac.uk/internships/index.html#opportunities> Macmillan India Ltd. (2005). Supply Chain Management. MacMillan. Retrieved 6 January, 2006 from “Overview of the Graduate Job Market, An”. (April, 2005). Graduate Prospects. Retrieved 6 January, 2006 from < http://www.prospects.ac.uk/cms/ShowPage/Home_page/How_much_could_I_earn_/An_overview_of_the_graduate_job_market/p!ecaFai> Parsons, Frank and Williamson, Edmund. (n.d.). Career Development Theory. Drake School of Education. Retrieved 6 January, 2006 from “Study to become a purchaser, buyer, inventory manager and more”. (4 November, 2005). World Wide Learn. Retrieved 6 January, 2006 from “Supply Chain Management”. (2005). AllFreeInfo. Retrieved 6 January, 2006 from “Supply Internships.” (2005). Land’s End. Retrieved 6 January, 2006 from < http://www.landsend.com/jobs/current_openings/internships/supply.html> “What is Supply Chain Management?” (2005). Cisco Systems. Retrieved 6 January, 2006 from Read More