Advanced Manufacturing & Supply Chain Management
Advanced Manufacturing Industry Snapshot
The manufacturing sector continues to account for 14 percent of U.S. GDP and 11 percent of total U.S. employment. Moreover, manufacturing firms fund 60 percent of the $193 billion that the U.S. private sector invests annually in R&D. (U.S. Department of Commerce)
Manufacturing salaries and benefits average $65,000, higher than the average for the total private sector. Two factors in particular attract workers to manufacturing: higher pay and benefits and opportunities for advanced education and training. (National Association of Manufacturers)
A 2005 survey of U.S. manufacturing employers found that 80 percent of respondents said that they had a serious problem finding qualified candidates for the highly technical world of modern manufacturing. (National Association of Manufacturers)
Advanced Manufactuing Workforce Issue
Too few young people consider the possibility of manufacturing careers and do not know what skills they need to succeed. Similarly, students do not always graduate from high school equipped with the necessary skills or knowledgeable about manufacturing career opportunities.
Supply Chain Management Industry Snapshot
Supply chain management is a bright spot among up-and-coming careers, with employment opportunities in a wide variety of industries, in firms of all sizes.
The U.S. is projected to have approximately 270,200 supply chain management and logistics job openings that will need to be filled every year from now through 2018 in order to keep with the projected industry growth (Georgia Center for Innovation for Logistics report, 2013)
According to the U.S. Bureau of Labor Statistics, jobs in logistics and supply chain are estimated to grow by 26 percent between 2010 and 2020, an average growth rate that is nearly twice as fast as 14 percent of all occupations.
Supply Chain Management Workforce Issue
The gap between the demand and availability
of supply chain professionals is only going to get wider. At this rate, the US Census Bureau projects that more than 60 million Baby Boomers will exit the workforce by 2025.