The future of work: Occupational and education trends in supply chain and logistics in Australia study released.
- Completing postgraduate qualification can boost income by 48% for supply chain logistics professionals.
- Australian supply chain and logistics workforce forecast to grow from 145,000 people in 2016-17 to 161,000 in 2021-22.
- Growth of 2.1 per cent a year over the coming five years, nearly half as fast as the 1.5 per cent expected in the Australian labour force as a whole.
- In 2016-17, supply chain & logistics professionals with relevant postgraduate qualifications commanded an average annual income of $140,949 – 66 per cent more than workers in the sector with no post-school qualifications.
- By 2021-22, qualified professionals are expected to be earning $164,360, an impressive rise of 14.3 per cent.
- Technological revolution is driving jobs growth in the sector faster than in the general workforce, putting pressure on managers to acquire sophisticated new skills in e-commerce and data analytics.
Professor Booi Kam, the program director of the Master of Supply Chain and Logistics Management at RMIT University has released a study on Employment forecasts for the supply chain and logistics workforce by component occupations.
“With new technologies such as drones, driverless vehicles, 3D printing and sensor technology seeing increased deployment across various supply chain functions, there will be greater opportunities for supply chain professionals to adapt business operations in procurement, production and distribution to effectively and efficiently use these digital tools,” Mr Kam said.
“Technological developments are providing significant opportunities for applying data analytics to improve supply chain and logistics operations across functions such as demand forecasting, inventory management and supply chain visualisation. The use of data analytics to inform these decisions is increasingly being recognised as best practice in supply chain management.”
Partner at Deloitte Access Economics David Rumbens said:
“The growing importance of digital technology means there is an increasing reliance on data-driven insights to improve supply chain efficiency and effectiveness.
“The evolution of the supply chain is also being accelerated by consumer-driven change, as customers move towards e-commerce away from traditional ‘bricks and mortar’ retailers to online purchases and e-commerce.
“Supplying goods from the retailer to the consumer for online commerce involves different transport and logistics considerations to in-person purchases, such as requiring efficient delivery services and customer management processes. The entry of Amazon will significantly disrupt the Australian retail landscape.
“Additional study in the supply chain and logistics area can enable workers to build on their core skills while upskilling in areas such as business analytics, project management and strategy development. This can facilitate future career progression and lead to a diverse range of new employment opportunities.”
The future of work: Occupational and education trends in supply chain and logistics in Australia was developed by Deloitte Access Economics in collaboration with RMIT University, and provides insights on how the nature of work and study in supply chain and logistics are evolving as a result of ongoing changes to the economic, business and labour market landscape, with employment forecasting using Deloitte Access Economics’ macroeconomic modelling framework. The following occupations have been identified using the Australian and New Zealand Standard Classification of Occupations (ANZSCO) as representing potential employment opportunities in the supply chain and logistics area: Importers Exporters and Wholesalers; Manufacturers; Production Managers; Supply Distribution Managers; General Manager (Transport, Postal and Warehousing industry). The analysis in the report is based on this list of occupations. The full report can be downloaded here.