Students gained real world perspectives on effective business practices affecting today’s global environment
On April 15 the students in Professor Burbridge’s Supply Chain Management class welcomed speaker Kasey Jenkins, vice president of Supply Chain Finance & Corporate Financial Planning & Analysis at McCormick.
[/caption]McCormick prides itself on being the company with the “Taste you Trust.” This trust is a direct result of the company’s supply chain activities, which have enabled it to gain a reputation for providing reliable and high quality products.
During her presentation, Jenkins discussed key supply chain trends affecting today’s global environment, including:
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Continuous geo-eco-political pressures, which are creating sourcing challenges in addition to competition at global, regional & local levels.
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Growth strategy, with emerging market emphasis, is putting increasing demand on shared capital and people.
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The need to feed nine billion people by 2050 without destroying the planet implies businesses that have a strong sustainability focus will emerge.
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End-to-end supply chain solutions are needed to meet the increasing volatility of customer demand.
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Greater alignment across global supply chain and fully leveraging assets, people and processes are required to provide differentiated solutions.
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Competition for supply chain talent is increasing globally.
One of the ways McCormick responds to some of these trends is through its Global Sourcing Program to ensure it is continuously adapting to the changing market. The Global Sourcing Program includes four main components, which include market intelligence, product quality management, cost management and vendor management. Through these strategic segments, McCormick stays informed about changes in products and ensures that it is prepared to meet consumer demand.
Learning about McCormick’s supply chain activities enabled business students to gain a real world perspective on the subject and further understand the importance of supply chain activities within organizations.
Written by Kristan Scala ‘14