We were honored to host Dr. Rob Handfield, who engaged in an insightful discussion on 11/12/2024. The event was led by Judah Seidman and organized by the NJCU School of Business in collaboration with the #ASCM #NJCU #StudentForum.
Dr. Handfield addressed current #challenges and #opportunities in #sourcing and the #globalsupplychain. He emphasized the #strategic use of #AI for "#whatif" scenarios and advised on optimizing #sourcingportfolios by balancing #reshoring and #offshoring based on #businessvalue and #criticality. He also shared his insights into the role of #ESG in #procurement, noting that many companies are tired of and increasingly frustrated by the demands for #transparency, #quantification, and #compliance with rising requirements. He suggested that while new government policies may slow some ESG practices, the focus on ESG is deeply embedded in business strategy and day-to-day operations, making it unavoidable. However, he proposed that a rethinking and redesigning of these practices may be necessary.
Dr. Handfield encouraged students to develop essential #softskills and #projectmanagement abilities, which are increasingly valuable in #supplychainmanagement. He emphasized the growing demand for #analyticalskills in procurement, especially as AI enables scenario-based decision-making and #datavisualization. These are critical skills for effective day-to-day operations and management, including #planning and #leadingmeetings and presenting #insights to clients.
According to Dr. Handfield, category management is the future of procurement. A skilled category manager is like the CEO of their category and should be well-versed in software, hardware, marketing, and market intelligence.
The webinar concluded with Luis Reyes Alberto’ introduction of the ASCM NJCU Student Forum and recent activities. Join today via https://lnkd.in/dtHVpiEG at no cost for student.
Dr. Robert Handfield, the Bank of America Distinguished Professor at the NC State Poole College of Management and Executive Director of the Supply Chain Resource Cooperative. He is a widely recognized expert in the field, frequently featured in leading media outlets such as NPR, Financial Times, The Wall Street Journal, and Bloomberg. He is also the co-author of the renowned textbook Purchasing and Supply Chain Management (Cengage) in collaboration with Robert M. Monczka. For more insights, his blog at the Supply Chain Resource Cooperative can be accessed at https://lnkd.in/dsFB-Y2P.
Judah Seidman serves as the Head of Sourcing Market Data Services at Chain IQ Group AG and teaches supply chain management as an Adjunct Professor at NJCU School of Business.
We appreciate the team of Chain IQ AG: Travis Johnson, Rob DiGiaro, and Melissa Cronje and NJCU School of Business: Dr. John Donnellan Dr. Yi-Yu Chen; ASCM NJCU e-board members: Luis Reyes Alberto, Josh Esteban, John Bautista
I’m sure it was a great session. You nail the fireside chat format :-)