Tag Archive: global trade

The Stock Market, The Economy & How They Do Not Align

February 12th, 2019

Key research groups are starting to talk about their predictions for the economy, and everyone is interested. It feels like everyone is waiting for the other shoe to drop. After all, we have been in an expansion mode far longer than is typical and there is plenty of volatility and uncertainty in global trade, the U.S. Shutdown and more. Last week, I heard a research expert from City National Bank and did an informal poll of trusted advisors (CPAs, attorneys, consultants, commercial bankers etc.). The bottom line = continued growth.

The City National Bank expert said that they study about 20 economic indicators, and all are firing on all cylinders. The only one that has consistently shown some potential for hesitation is geopolitical risk –  which isn’t new. As much as the U.S. Shutdown, global trade tensions, Brexit and more has the stock market jittery, it hasn’t impacted the economic forecast. Businesses are growing and the economy is doing well! The hot topics being discussed include asset protection, the talent shortfall, the technology transformation and cyber security risks. There are always lots of details to consider but the common theme is growth. Thus, a key question becomes, are you prepared for scalable, profitable growth?  

One tip to implement this week:

What I’m seeing as a differentiator to success in these strong yet uncertain times is the ability to ‘stay the course’ and be resilient.  With each new emerging news story, I’m seeing the stock market choke and people panic. Unfortunately, this can lead to short-term, erratic changes in executives’ decisions. No one wants to be put into the same position as they were in during the last recession. So, the tendency is to overreact. Yet, the most successful clients provide stability and a platform for scalable growth.

They are willing to make hard decisions, ranging from investing in top talent to systems and technologies (even when their peers are hesitant) to addressing the sacred cow (every business has at least one!) to thinking about how their business model might be evolving and what they might need to change (even when they are currently profitable and seemingly successful).

It might make good sense to take a step back and avoid overreacting to the latest news. Stay aware and on top of trends. Ask questions and consider down-the-line impacts on your business. Instead of getting caught up in the latest drama or fad, put thought into how to build agility into your plans. How can you ensure your navigation system is rock solid and will weather whatever storm occurs next. If there is one constant, it will be continued volatility and uncertainty.

Prepare to be resilient. Check out our new resilient supply chain series and contact us if you’d like to have an assessment of your organization.



The Ladies of Logistics & Global Trends

October 9th, 2018

Thanks to Elizabeth Warren for hosting the informal Southern CA group, the Ladies of Logistics (LOL).  We had a fabulous time and made amazing connections.  Where else can you go and see every key connection related to trucking, the ports, freight forwarders, logistics, global trade and all related parties (such as education partners, the media etc.)?  I had great conversations with old friends and I met new colleagues. Business is more successful – and fun- when we come together to celebrate and connect.

 

 

 

 

 

Where do you go to find out what’s happening with your industry?  When it comes to the global marketplace, there were insightful conversations at LOL with perspectives from the following:

  1. Recent graduates from the global public policy program at USC/University of Hong Kong
  2. Freight forwarders
  3. Several different roles related to the ports
  4. CSULB Center for International Trade & Transportation
  5. BCO (Beneficial Cargo Owner)
  6. Logistics industry professionals
  7. Public policy professionals
  8. And many more.  

I learned quite a few interesting trends which I’m planning to turn into episodes of my new series, “The Resilient Supply Chain”.  How do you stay on top of global trends?

One tip to implement this week:
There are many ways to stay on top of global trends (or any trends you’d like to keep track of that relates to your industry).  You can start immediately by implementing any of the following strategies:

  1. Attend a networking event such as LOL
  2. Read an industry magazine such as the Journal of Commerce.
  3. Participate with a trade association such as APICS-IE, ISM, CSCMP and more (all of which were represented at the LOL event). By the way, if you are interested in global trends, put APICS-IE’s executive panel & networking symposium on “Advancing Innovation & Navigating Global Trends” on your calendar.
  4. Ask your colleagues, customers and suppliers.  You’d be surprised what you can learn by asking a few key questions!
  5. Attend a chamber of commerce or related event that focuses on your area of interest.  For example, in Southern CA, the L.A. Chamber and the IEEP both focus on logistics.
  6. Do some interest research.
  7. And many, many more.

Just choose one and get started!

 



Deloitte Survey Says Talent Gap Jeopardizes Success

February 22nd, 2017

According to the 2017 Deloitte Global CPO Survey, 85% of those surveyed felt that talent was the largest factor in driving procurement performance yet 60% think they have a skills gap to deliver on their procurement objectives. My clients are experiencing this same phenomenon, no matter the role within manufacturing and supply chain. What are you doing to find, retain and develop your talent?

What Should We Consider and/or What Impacts Could Arise?

We are in a volatile business environment – global trade is evolving, risks abound, regulations are changing, supply chains are complex and significant change has become the norm. Instead of complaining or burying our head in the sand, we must find a way to get ahead of the curve. This starts with TALENT.

I am constantly asked to help clients, trade association contacts and alliance colleagues find, retain and train talent. No matter the technical topic, it will not succeed without talent. Thus, we better pay attention. Due to this continual feedback, I have dusted off my Skills Gap research from late 2013 and am refreshing it. I’d appreciate your feedback and insights for my research. I’ll keep you in the loop on the results.

In the interim, start thinking about the skills gap. What will you need a year down-the-line? Are you positioned to not only succeed short-term but to leverage opportunities as they arise over the next 12-24 months? If not, you have a skills gap. Put off spending cash in other areas but do not skimp on your talent.

Think about your objectives and back into your plan. Should you hire employees or fill expertise gaps with consultants? Will top talent WANT to work with you and in your company culture? Don’t assume the answer is yes — think about it and find out. What should you do to attract and retain top talent? That might also lead you to the third option which you should pursue regardless — developing talent. What training, education and mentoring programs do you offer?