Unexpected events can, by definition, happen at any time. As supply chain professionals, we know this better than most. We regularly identify every area of our supply chain that has the slightest threat (or hope) of veering from the expected and plan an appropriate response. We meet every area of variance with redundancies, backup plans, and alternatives that are designed to eliminate, mitigate, or otherwise deal with the change.
When it comes to our supply chains, we are masters at preparing for the unexpected. But what about our careers? Are we prepared for the unexpected? When change happens, will we have a backup plan ready?
The Latin phrase praemonitus, praemunitus—"forewarned is forearmed"—means that you can meet a challenge if you know about it in advance. Yet, how can you be forewarned about something unexpected? To be sure, we are not talking about asteroids crashing into Earth. Rather, we mean events such as your department reorganizing, your company being acquired, or your boss leaving the company. These are the scenarios that you may not want to think about but that lurk in the back of your mind. You probably already know what the top five potential disruptions to your career are. Now, it's time to figure out how to prepare for them—however unlikely they are—so that you can stop wasting energy worrying about them.
The first step is to be realistic about what disruptive events could occur. An awful lot of people find this to be difficult, however. Generally, I find that there are two types of people who have unrealistic views of potential careerchanging events. The first type refuses to anticipate even the most obvious deviation from the historical norm. They fail to consider any disruption to their current life. This type is not spending enough time thinking about and preparing for the very real possibility of a career-altering change. For example, I heard from one supply chain manager who was astonished that his company was being acquired, even though he knew it was on the market. I asked him about this inconsistency, and he said, "I just didn't think it would happen." We have all read financial documents that include the disclaimer "past performance is not indicative of future results"; the same goes for much of life. We cannot ignore the possibility of an event happening just because it differs substantially from what has come before.
The second type of person sees disasters popping up everywhere. These people see disasters and conspiracies where none exist. The stress that they feel about extremely low-probability scenarios can deplete them physically and mentally without producing any real benefits.
Don't be like these people. Instead, start by making a list of the changes that could possibly occur in the short, medium, and long term. While no one can see the future, we all have some idea of what can go off-course. In order to be realistic about potential changes, you need to be aware of your work environment. This includes knowing what is happening in the overall economy and your industry in general as well as being aware of conditions at your company and in your department. Get a "reality check" for your list of potential changes by running it by trusted, knowledgeable confidants. Do they think your perception of possible changes is on target? Think about what could change within the month, the year, and the next five years. Clearly, the longer the lead time, the better prepared you can be.
Once you have identified possible changes, start considering what you could do about them. Your road map for responding to change should be guided by one thing: your long-term goal. Where do you want to be at the height of your career? How much money will you be making? What will be your responsibilities? Your goal should be a specific aspirational objective. For example, you may want to be the head of a supply chain organization for a global food or consumer products company. Any deviations from the course will require some recalibration, but the goal will still be the same.
Contacts and accomplishments
At this point, you have established where you eventually want to end up as well as identified the possible disruptions that may occur on your way to achieving that long-term goal. What else do you need to do? You should prepare yourself for the best- and the worstcase scenarios. Surprisingly enough, the ways that you prepare for the best and worst types of career changes are remarkably similar. The formula consists of two main components: know your accomplishments, and use your network.
The first component, "know your accomplishments," is more than just ticking off your degrees and the positions you've held. It involves a deep understanding of what you did and how you did it. A formal example of this is your résumé, (which should always be updated). Your résumé details the responsibilities you have held and how you accomplished them. Another formal example is your annual self-evaluation. However, to make either of these documents meaningful, you must chronicle your accomplishments as they occur, when they are fresh in your mind and you have the hard data in hand to substantiate your claims. Clearly, this should be an ongoing task that will require just a small amount of effort if consistently applied.
Knowing your accomplishments is important for both the best- and worst-case scenarios. Your best-case scenario might be that a position opens up that could serve as the next rung of your career ladder. In that case, being prepared with a detailed story of your accomplishments will help you tailor your pitch for that position. It will also provide facts that will help convince others that you can handle the promotion and are ready for the job change.
The worst case might be losing your job. The good thing is that you will have all the information you need to apply for and land a new job. The only feeling worse than losing your position is losing your position and having to piece together a résumé when you no longer have access to vital information.
The second component, "use your network," also requires constant tending. Your network should consist of co-workers (current and past), mentors, people whom you have mentored, schoolmates, industry associates, and people from other industries (such as lawyers, consultants, and public relations professionals). These are people who know you or know of you. You've worked with them; you've shared a table with them at a conference; you've commented on their blogs. When positive, unexpected change happens, your contacts will be your cheering section. When the worst case occurs, they will be your advocates, your eyes and ears, and your support.
But first you need to put effort into maintaining and growing your network. Exchange business cards at events (quaint, but effective).
Use one or two online networking sites like Plaxo or LinkedIn to maintain contacts. Reach out to your contacts in some meaningful way at an appropriate frequency. For example, you should e-mail the people you met at this year's conference saying how you enjoyed meeting them. Before next year's conference, e-mail them to see if they will be attending again. People you know well require more frequent and personalized nurturing, like inviting them to lunch or calling them when their company is in the news.
To be prepared for the unexpected, you need to invest time and effort into all of these steps on a continuous basis. But that investment will be repaid in terms of the peace of mind you will gain. If you know your long-term career goal, know your accomplishments, and use your network, you will be ready for anything—except, perhaps, for asteroids crashing into Earth.
The new funding brings Amazon's total investment in Anthropic to $8 billion, while maintaining the e-commerce giant’s position as a minority investor, according to Anthropic. The partnership was launched in 2023, when Amazon invested its first $4 billion round in the firm.
Anthropic’s “Claude” family of AI assistant models is available on AWS’s Amazon Bedrock, which is a cloud-based managed service that lets companies build specialized generative AI applications by choosing from an array of foundation models (FMs) developed by AI providers like AI21 Labs, Anthropic, Cohere, Meta, Mistral AI, Stability AI, and Amazon itself.
According to Amazon, tens of thousands of customers, from startups to enterprises and government institutions, are currently running their generative AI workloads using Anthropic’s models in the AWS cloud. Those GenAI tools are powering tasks such as customer service chatbots, coding assistants, translation applications, drug discovery, engineering design, and complex business processes.
"The response from AWS customers who are developing generative AI applications powered by Anthropic in Amazon Bedrock has been remarkable," Matt Garman, AWS CEO, said in a release. "By continuing to deploy Anthropic models in Amazon Bedrock and collaborating with Anthropic on the development of our custom Trainium chips, we’ll keep pushing the boundaries of what customers can achieve with generative AI technologies. We’ve been impressed by Anthropic’s pace of innovation and commitment to responsible development of generative AI, and look forward to deepening our collaboration."
Specifically, the new global average robot density has reached a record 162 units per 10,000 employees in 2023, which is more than double the mark of 74 units measured seven years ago.
Broken into geographical regions, the European Union has a robot density of 219 units per 10,000 employees, an increase of 5.2%, with Germany, Sweden, Denmark and Slovenia in the global top ten. Next, North America’s robot density is 197 units per 10,000 employees – up 4.2%. And Asia has a robot density of 182 units per 10,000 persons employed in manufacturing - an increase of 7.6%. The economies of Korea, Singapore, mainland China and Japan are among the top ten most automated countries.
Broken into individual countries, the U.S. ranked in 10th place in 2023, with a robot density of 295 units. Higher up on the list, the top five are:
The Republic of Korea, with 1,012 robot units, showing a 5% increase on average each year since 2018 thanks to its strong electronics and automotive industries.
Singapore had 770 robot units, in part because it is a small country with a very low number of employees in the manufacturing industry, so it can reach a high robot density with a relatively small operational stock.
China took third place in 2023, surpassing Germany and Japan with a mark of 470 robot units as the nation has managed to double its robot density within four years.
Germany ranks fourth with 429 robot units for a 5% CAGR since 2018.
Japan is in fifth place with 419 robot units, showing growth of 7% on average each year from 2018 to 2023.
Progress in generative AI (GenAI) is poised to impact business procurement processes through advancements in three areas—agentic reasoning, multimodality, and AI agents—according to Gartner Inc.
Those functions will redefine how procurement operates and significantly impact the agendas of chief procurement officers (CPOs). And 72% of procurement leaders are already prioritizing the integration of GenAI into their strategies, thus highlighting the recognition of its potential to drive significant improvements in efficiency and effectiveness, Gartner found in a survey conducted in July, 2024, with 258 global respondents.
Gartner defined the new functions as follows:
Agentic reasoning in GenAI allows for advanced decision-making processes that mimic human-like cognition. This capability will enable procurement functions to leverage GenAI to analyze complex scenarios and make informed decisions with greater accuracy and speed.
Multimodality refers to the ability of GenAI to process and integrate multiple forms of data, such as text, images, and audio. This will make GenAI more intuitively consumable to users and enhance procurement's ability to gather and analyze diverse information sources, leading to more comprehensive insights and better-informed strategies.
AI agents are autonomous systems that can perform tasks and make decisions on behalf of human operators. In procurement, these agents will automate procurement tasks and activities, freeing up human resources to focus on strategic initiatives, complex problem-solving and edge cases.
As CPOs look to maximize the value of GenAI in procurement, the study recommended three starting points: double down on data governance, develop and incorporate privacy standards into contracts, and increase procurement thresholds.
“These advancements will usher procurement into an era where the distance between ideas, insights, and actions will shorten rapidly,” Ryan Polk, senior director analyst in Gartner’s Supply Chain practice, said in a release. "Procurement leaders who build their foundation now through a focus on data quality, privacy and risk management have the potential to reap new levels of productivity and strategic value from the technology."
Businesses are cautiously optimistic as peak holiday shipping season draws near, with many anticipating year-over-year sales increases as they continue to battle challenging supply chain conditions.
That’s according to the DHL 2024 Peak Season Shipping Survey, released today by express shipping service provider DHL Express U.S. The company surveyed small and medium-sized enterprises (SMEs) to gauge their holiday business outlook compared to last year and found that a mix of optimism and “strategic caution” prevail ahead of this year’s peak.
Nearly half (48%) of the SMEs surveyed said they expect higher holiday sales compared to 2023, while 44% said they expect sales to remain on par with last year, and just 8% said they foresee a decline. Respondents said the main challenges to hitting those goals are supply chain problems (35%), inflation and fluctuating consumer demand (34%), staffing (16%), and inventory challenges (14%).
But respondents said they have strategies in place to tackle those issues. Many said they began preparing for holiday season earlier this year—with 45% saying they started planning in Q2 or earlier, up from 39% last year. Other strategies include expanding into international markets (35%) and leveraging holiday discounts (32%).
Sixty percent of respondents said they will prioritize personalized customer service as a way to enhance customer interactions and loyalty this year. Still others said they will invest in enhanced web and mobile experiences (23%) and eco-friendly practices (13%) to draw customers this holiday season.
The practice consists of 5,000 professionals from Accenture and from Avanade—the consulting firm’s joint venture with Microsoft. They will be supported by Microsoft product specialists who will work closely with the Accenture Center for Advanced AI. Together, that group will collaborate on AI and Copilot agent templates, extensions, plugins, and connectors to help organizations leverage their data and gen AI to reduce costs, improve efficiencies and drive growth, they said on Thursday.
Accenture and Avanade say they have already developed some AI tools for these applications. For example, a supplier discovery and risk agent can deliver real-time market insights, agile supply chain responses, and better vendor selection, which could result in up to 15% cost savings. And a procure-to-pay agent could improve efficiency by up to 40% and enhance vendor relations and satisfaction by addressing urgent payment requirements and avoiding disruptions of key services
Likewise, they have also built solutions for clients using Microsoft 365 Copilot technology. For example, they have created Copilots for a variety of industries and functions including finance, manufacturing, supply chain, retail, and consumer goods and healthcare.
Another part of the new practice will be educating clients how to use the technology, using an “Azure Generative AI Engineer Nanodegree program” to teach users how to design, build, and operationalize AI-driven applications on Azure, Microsoft’s cloud computing platform. The online classes will teach learners how to use AI models to solve real-world problems through automation, data insights, and generative AI solutions, the firms said.
“We are pleased to deepen our collaboration with Accenture to help our mutual customers develop AI-first business processes responsibly and securely, while helping them drive market differentiation,” Judson Althoff, executive vice president and chief commercial officer at Microsoft, said in a release. “By bringing together Copilots and human ambition, paired with the autonomous capabilities of an agent, we can accelerate AI transformation for organizations across industries and help them realize successful business outcomes through pragmatic innovation.”