In today’s competitive landscape, professionals in the supply chain industry must upskill to stay relevant amidst rapid digital transformation. Upskilling is imperative for survival and growth, ensuring professionals remain valuable and competitive in the job market, fostering long-term success and better career opportunities. For managers and professionals aiming to enhance their digital processes, upskilling is essential to effectively navigate and leverage digital tools.
The imperative for upskilling in supply chain
Upskilling is crucial in this age. While digital transformation presents a great opportunity for the logistics and supply chain sector in India, a lack of skilled talent hinders its true potential. According to KPMG, only 18 per cent of logistics companies in India have adopted data analytics, a key technology, that can greatly improve business efficiency. Another study by McKinsey in 2023 highlights that Fortune 500 companies place 22 per cent of procurement employees in analytics teams. This suggests that companies will need to invest and increase the number of data profiles available to scale through external hiring of data-savvy profiles or reskilling of existing teams. According to a news report, the World Economic Forum states that investment in upskilling could boost India’s economy by $570 billion and add 2.3 million jobs by 2030. Addressing the digital skills gap is crucial for the successful digital transformation of India’s supply chain and logistics sector.