As the U.S. economy was beginning to recover in 2010, researchers at the MIT Center for Transportation and Logistics were having a busy year. They published a number of studies looking at trends and technologies transforming global supply chains. Mixed in among these publications was a whitepaper with a shockingly personal and simple title: “Are You Prepared for the Supply Chain Talent Crisis?”Not exactly a question most expected to see at that point in the economic cycle.
Not long after that, the Wall Street Journal published an article with a catchy headline: “’Lightning Bolt’ Led Caterpillar to Look Outside.” The article chronicled how a shortfall in the $60 billion company’s pipeline for talent forced it to hire external candidates to fill top supply chain roles. The story was newsworthy precisely because Caterpillar has a very strong focus on talent development and for promoting executives from within.
– By Daniel Stanton, Vice President of Education and Professional Development