Supplier Employment: This Year’s Biggest Risk?<\/h3><\/div><\/div><\/div>PurchTips edition #402<\/p>\n<\/div>
Do Your Suppliers Have Enough Workers?<\/h4><\/div><\/div><\/div>Last week, the United States government released a shocking statistic:\u00a0 the US unemployment rate had dropped to 3.8%.\u00a0 The rate had only reached this low of a level in one prior month since the 1960\u2019s!\u00a0 Other countries throughout our global economy are seeing similarly high employment levels.<\/p>\n
For the general population, this is good news.\u00a0 It means that jobs are available and pay rates are relatively high.<\/p>\n
For procurement professionals, this is bad news.\u00a0 It means that suppliers are likely to have trouble finding workers to continue to fulfill your orders.\u00a0 In fact, this is a potential crisis.<\/p>\n
Procurement professionals like you need to be more vigilant than ever when sourcing.\u00a0 You need to probe specifically how your suppliers are handling the challenges of this hot economy and how well-prepared they are if it gets hotter.\u00a0 Here are some questions you can ask your suppliers:<\/p>\n
\n- What percentage of your full-time equivalent positions are currently open?<\/li>\n
- How does this percentage compare with a year ago? Two years ago?<\/li>\n
- Statistically, how is the tight labor market impacting your lead times and on-time delivery percentages?<\/li>\n
- What are you doing to retain employees?<\/li>\n
- What methods are you using to attract new employees?<\/li>\n
- What are you doing to prepare for an even tighter labor market in the coming year?<\/li>\n<\/ul>\n
There are really no right or wrong answers.\u00a0 But comparing answers of competing suppliers will reveal which suppliers are managing today\u2019s economic challenges and which are more likely to crack under the pressure of a tight employment market.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Want A More Rewarding Procurement Career?<\/h5><\/div>![](\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career.jpg\" "\\"career\\"")
<\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Nothing will change unless you take action towards becoming a world-class procurement professional. Work your way up NLPA\u2019s CPO Suite Programs, an enhanced version of our SPSM certifications and bring the most modern procurement practices into your organization and achieve your career potential.<\/p>\n
Download our NLPA Course Catalog<\/strong> for a comprehensive list of the CPO Certification Programs and their corresponding modules per level.<\/p>\n<\/div>
PurchTips edition #402<\/p>\n<\/div>
Do Your Suppliers Have Enough Workers?<\/h4><\/div><\/div><\/div>Last week, the United States government released a shocking statistic:\u00a0 the US unemployment rate had dropped to 3.8%.\u00a0 The rate had only reached this low of a level in one prior month since the 1960\u2019s!\u00a0 Other countries throughout our global economy are seeing similarly high employment levels.<\/p>\n
For the general population, this is good news.\u00a0 It means that jobs are available and pay rates are relatively high.<\/p>\n
For procurement professionals, this is bad news.\u00a0 It means that suppliers are likely to have trouble finding workers to continue to fulfill your orders.\u00a0 In fact, this is a potential crisis.<\/p>\n
Procurement professionals like you need to be more vigilant than ever when sourcing.\u00a0 You need to probe specifically how your suppliers are handling the challenges of this hot economy and how well-prepared they are if it gets hotter.\u00a0 Here are some questions you can ask your suppliers:<\/p>\n
\n- What percentage of your full-time equivalent positions are currently open?<\/li>\n
- How does this percentage compare with a year ago? Two years ago?<\/li>\n
- Statistically, how is the tight labor market impacting your lead times and on-time delivery percentages?<\/li>\n
- What are you doing to retain employees?<\/li>\n
- What methods are you using to attract new employees?<\/li>\n
- What are you doing to prepare for an even tighter labor market in the coming year?<\/li>\n<\/ul>\n
There are really no right or wrong answers.\u00a0 But comparing answers of competing suppliers will reveal which suppliers are managing today\u2019s economic challenges and which are more likely to crack under the pressure of a tight employment market.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Want A More Rewarding Procurement Career?<\/h5><\/div><\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Nothing will change unless you take action towards becoming a world-class procurement professional. Work your way up NLPA\u2019s CPO Suite Programs, an enhanced version of our SPSM certifications and bring the most modern procurement practices into your organization and achieve your career potential.<\/p>\n
Download our NLPA Course Catalog<\/strong> for a comprehensive list of the CPO Certification Programs and their corresponding modules per level.<\/p>\n<\/div>
Last week, the United States government released a shocking statistic:\u00a0 the US unemployment rate had dropped to 3.8%.\u00a0 The rate had only reached this low of a level in one prior month since the 1960\u2019s!\u00a0 Other countries throughout our global economy are seeing similarly high employment levels.<\/p>\n
For the general population, this is good news.\u00a0 It means that jobs are available and pay rates are relatively high.<\/p>\n
For procurement professionals, this is bad news.\u00a0 It means that suppliers are likely to have trouble finding workers to continue to fulfill your orders.\u00a0 In fact, this is a potential crisis.<\/p>\n
Procurement professionals like you need to be more vigilant than ever when sourcing.\u00a0 You need to probe specifically how your suppliers are handling the challenges of this hot economy and how well-prepared they are if it gets hotter.\u00a0 Here are some questions you can ask your suppliers:<\/p>\n
- \n
- What percentage of your full-time equivalent positions are currently open?<\/li>\n
- How does this percentage compare with a year ago? Two years ago?<\/li>\n
- Statistically, how is the tight labor market impacting your lead times and on-time delivery percentages?<\/li>\n
- What are you doing to retain employees?<\/li>\n
- What methods are you using to attract new employees?<\/li>\n
- What are you doing to prepare for an even tighter labor market in the coming year?<\/li>\n<\/ul>\n
There are really no right or wrong answers.\u00a0 But comparing answers of competing suppliers will reveal which suppliers are managing today\u2019s economic challenges and which are more likely to crack under the pressure of a tight employment market.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
Want A More Rewarding Procurement Career?<\/h5><\/div>
<\/span><\/div>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Nothing will change unless you take action towards becoming a world-class procurement professional. Work your way up NLPA\u2019s CPO Suite Programs, an enhanced version of our SPSM certifications and bring the most modern procurement practices into your organization and achieve your career potential.<\/p>\n
Download our NLPA Course Catalog<\/strong> for a comprehensive list of the CPO Certification Programs and their corresponding modules per level.<\/p>\n<\/div>