Across sectors, from manufacturing to restaurants to healthcare, the risk of supply chain disruption and unexpected consequences is significant, and is becoming more so. In fact, a recent survey of nearly 600 global manufacturing and retail executives found that 48% of them “reported an increase in the frequency of supply chain risk events that had negative outcomes in the last three years, compared to only 21% who reported a decrease.”1
Some executives view disruptions from factors such as weather or political turmoil as inevitable costs of doing business. And while 71% of executives consider supply chain risk an important part of strategic decision-making, only 30-40%of their companies have effectively implemented analytics and data tools within their supply chain risk management systems.1 Companies want a resilient supply chain, but lack the capability to use the right tools and metrics to make better decisions. The hiring and training of people with supply chain logistics expertise is a smart, affordable investment that can help make your supply chain operations – and your bottom line – invulnerable. Learn about all the benefits to bolstering your supply chain expertise in CITT's complete guide for employers.
While 75% of companies are blind-sided by unexpected disruptions to their globalized supply chain logistics operations,2 these disruptions are mostly predictable, the risks manageable and corporate suffering is avoidable.
The increasing complexity of doing business in Canada or abroad – be it from greater regulation or trade policies to the expanding choices between suppliers – means that supply chains are more exposed to more potential risk than ever before. Great disruptions happen all the time – but they CAN be anticipated. Having depth and breadth of skill, along with professionalism is the key to predicting and manoeuvring great disruptions. After all, MIT and PwC research found that supply chain operations are more sensitive to skill set and expertise than any other major factor including oil costs.3 Able pros protect their businesses with proactive planning and risk management strategies, and can use adaptive thinking to stabilize operations when interruptions strike.
For example, rather than making large, costly investments with the aims of eliminating a single risk, mature supply chain expertise can better help companies by making their overall supply chain logistics operations more resilient to any and all risks that could become realities.1 This is essentially strengthens the supply chain as a whole, rather than reactively addressing problems as they become obvious.
CITT integrates a wide range of realistic scenarios into courses and learning processes, which helps our CCLP designation candidates hone more mature knowledge and develop their professional instincts and predictive skills. They learn that many interruptions can be predicted effectively, and get practice managing disruptions in their assignments, where they can master new techniques and skills before applying them on-the-job. Candidates learn how to identify and anticipate risks, build contingencies, and manage interruptions in the domestic or global supply chain with confidence, without sacrificing the profitability of their companies.
CITT’s advanced courses such as Logistics Decision Modelling, Integrated Logistics, and Foundations of Risk Management (through our University of Toronto partnership) are particularly valued and fill some of the critical management skill gaps identified industry.4 Businesses’ very survival can rely on CITT-Certified Logistics Professionals.
To learn more about the CITT program of study and all the abilities-based outcomes, take a look at the complete guide to CITT courses and the CCLP designation.
1. M. Kelly, O’Dwyer J. From Risk to Resilience: Using Analytics and Visualization to Reduce Supply Chain Vulnerability. Deloitte Review, 2012.
2. Driscoll, Mary. "Research: Why Companies Keep Getting Blind-sided By Risk". Harvard Business Review Blog. 2013 reporting on APQC’s: Managing the Risk of Supply Chain Disruption: Survey Summary Report. May 2013.
3. Simchi-Levi, D., Kyratzoglou IM., Vassiliadis CG., Supply Chain and Risk Management: Making the Right Decisions to Strengthen Operations Performance, Study by MIT Forum for Supply Chain Innovation and PwC, 2013.
4. A Workforce Strategy for Alberta’s Supply Chain Logistics Sector: Building and Educating Tomorrow’s Workforce, A 10-Year Strategy.