Many New Jersey companies lack alternative supply chains, inhibiting their ability to be more flexible, author Lora Cecere told attendees at the New Jersey Manufacturing Extension Program’s Transportation, Logistics and Distribution Summit Thursday at Middlesex County College.
“Today’s supply chain does not learn from the past,” said keynote speaker Cecere, founder and CEO of research firm Supply Chain Insights and an author of books on the subject. “The order does not represent demand. … We must unlearn from the past to rethink the future of supply chains. … Most companies do not know where their second- and third-tier suppliers are.”
NJMEP President and CEO John Kennedy said supply chains are “critical to our financial health.”
“Supply chain is very connected with the other industries that we look at including manufacturing and STEM,” Kennedy said. “I spent 35 years in the materials handling world. Every manufacturer has a supply chain — inbound and outbound. It is critical to our financial health.”
Kennedy advocates for training people to work in these industries. NJMEP has conducted more than 17,000 training days over the last 12 years.
According to NJMEP, New Jersey manufacturing jobs pay an average salary of $90,540; life sciences jobs average $137,000; STEM jobs $118,000; and transportation, logistics and distribution jobs $72,569.