Harnessing AI & Machine Learning for Logistics & Supply Chain Excellence
Published Date: 03/07/2024
Dr. Rajiv Aserkar, Professor & Head, Logistics & Supply Chain management, SP Jain School of Global Management, shares insights on the growing demand for logistics professionals and the most sought-after skill sets.
The logistics and supply chain industry is witnessing a significant transformation with the integration of artificial intelligence (AI) and machine learning (ML) technologies. As a result, there is a growing demand for logistics professionals with expertise in AI and ML. Dr. Rajiv Aserkar, Professor & Head, Logistics & Supply Chain management, SP Jain School of Global Management, shares his insights on the growing demand for logistics professionals and the most sought-after skill sets.
According to Dr. Aserkar, junior college and degree level students have little awareness about career prospects in the logistics and supply chain industry. This is due to the industry being a sunrise industry for which career opportunities are now emerging in the wake of upgradation of physical infrastructure in India and ongoing Vikasit Bharat campaign.
The government's investment in improving India's road, rail, port, and airport infrastructure has created new opportunities for a career in logistics and supply chain management. Moreover, the improvement in ease of doing business in India has attracted a large number of multinationals in manufacturing and services industry to invest in India.
Logistics and Supply Chain Management is an ever-evolving field that requires institutions to have a dynamic and pro-active approach towards offering suitable curriculum to students. Currently, there is a skill gap in analytical skills among logistics professionals, and programming skills in Python and R languages are desired by the industry. Additionally, knowledge of AI/ML, data visualization, and analytics is expected.
In the next two years, the most desired skills in demand will be the application of artificial intelligence and machine learning to forecast demand, optimize inventory, route planning, strategic sourcing, warehouse management, and process improvement. The industry is expected to witness digitization of manufacturing facilities, transportation fleets, material handling equipment, and other physical assets on a large scale.
Students with qualifications in logistics and supply chain courses should not face difficulties in finding good jobs if they have acquired the desired skill set required by the industry. In fact, the manufacturing, services, e-Commerce, and consulting organizations are reporting a talent gap to bridge their requirements.
FAQS:
Q: What is the awareness level among students about career prospects in the logistics and supply chain industry?
A: Junior college and degree level students have little awareness about career prospects in the logistics and supply chain industry.
Q: Why choose a career in logistics and supply chain management?
A: The government's investment in improving India's infrastructure and the improvement in ease of doing business in India have created new opportunities for a career in logistics and supply chain management.
Q: What are the skill gaps noticed in current logistics professionals?
A: The main gap is noticed in analytical skills, and programming skills in Python and R languages are desired by the industry.
Q: In the next two years, which skills will be more in demand for logistics and supply chain professionals?
A: The most desired skills in demand will be the application of artificial intelligence and machine learning to forecast demand, optimize inventory, route planning, strategic sourcing, warehouse management, and process improvement.
Q: What difficulties do students with qualifications in logistics and supply chain courses face while searching for a job?
A: If the students have acquired the desired skill set required by the industry, they should not face difficulties in finding good jobs in the area of logistics and supply chain management.