With a recession being predicted to hit the U.S. economy in late 2023 and early 2024, the job market is slowing down as fears continue to mount. The tech industry in particular contributed to mass layoffs this year, driven by some of the biggest names in the world including Microsoft, Meta, Google, Yahoo, Amazon etc.

Google’s parent company Alphabet reduced their workforce by approximately 12,000 roles. CEO Sundar Pichai wrote in a letter to Google employees “we hired for a different economic reality than the one we face today.”

The global economy is slowly recovering from the aftereffects of the COVID-19 pandemic and grappling with situations like regional conflicts and disrupted trade routes. This also means that the international trade landscape is evolving drastically and so is job insecurity.

In such a dynamic job market, there are certain roles that are growing increasingly popular. The demand for skilled professionals in these job roles is skyrocketing.

So, if you’re looking for jobs with good scope and stability globally, consider exploring international trade. Let’s look at some of the fastest growing international trade jobs in 2023 globally and how you can break into these thriving sectors.

Marketing international trade jobs

The global marketing landscape is more diverse than ever before. A career in marketing usually involves good pay and quick growth. According to the U.S. Bureau of Labor Statistics there is expected to be a 10% employment growth rate for marketing managers from 2021 to 2031. Professionals who understand international markets and consumer behavior are in high demand. Here are some of the most in demand global trade jobs that in the  marketing sector.

1.    Global Growth Manager

As an increasing number of businesses continue to expand globally, the demand for multifaceted professionals who can identify and capitalize on opportunities for expanding businesses internationally is greater than ever. Forbes talks about hiring the right leaders as one of the keys to getting global expansion right. Here is where Global Growth Managers come into the picture. They meticulously research market dynamics, consumer behavior, and emerging trends to formulate strategic plans for global expansion. By leveraging data-driven insights to navigate international business landscapes, they are indispensable assets in the quest for sustained global growth.

2.    International Business Development Executive

International Business Development Executives are instrumental in fostering global growth for companies operating in today’s interconnected world. Their job role involves nurturing strategic partnerships, collaborations, and alliances with businesses and organizations worldwide. With a deep understanding of international markets and the skills needed to identify new business opportunities in various regions and industries, these executives are at the forefront of forging international connections and creating synergies in the global marketplace.

E-commerce international trade jobs

E-commerce has become a cornerstone of international trade. With global e-commerce expected to show an annual growth rate of 11.17% from 2023 till 2027, it’s safe to say that it’s a thriving industry. Hence, it’s no surprise that the demand for skilled professionals to fill e-commerce jobs is at an all-time high right now. So, let’s explore some jobs that are increasingly growing in demand in e-commerce.

3.    E-commerce Operations Manager

At a time when e-commerce is thriving, E-commerce Operations Managers act as the driving force behind the seamless functioning of online businesses across borders. The U.S. Bureau of Labor Statistics reports that approximately 2,300 new jobs will be added for general and operations managers in e-commerce between 2016 and 2026. E-commerce Operations Managers are responsible for orchestrating and optimizing the day-to-day operations of e-commerce platforms, ensuring efficient order processing, inventory management, and timely delivery to customers around the world.

4.    E-commerce Business Analyst

Analytics is taking the world by storm and more businesses are recognizing the importance of leveraging big data in their expansion strategies. According to the World DataScience Initiative, about 80% of global enterprises are investing in a data analytics division, creating a great demand for analysts. E-commerce platforms collect a wealth of data and here is where E-commerce Business Analysts come into the picture. They are responsible for deciphering and decoding data and transforming it into actionable insights that drive strategic decisions. They are the analytical minds behind the success of international online businesses.

5.    E-commerce Project Manager

Project Managers are a crucial part of every organization and industry and e-commerce is no exception. The Project Management Institute’s ‘Project Management Job Growth and Talent Gap 2017–2027’ report predicts that by 2027, employers will need nearly 88 million individuals in project management-oriented roles. E-commerce Project Managers take on the responsibility of planning, executing, and overseeing critical e-commerce initiatives. Their role is pivotal in delivering projects on time and within budget, which is a necessity in today’s rapidly evolving e-commerce landscape.

International supply chain jobs

The supply chain sector is the backbone of international trade – transactions within global supply chains account for 76% of world trade. This is why it comes as no surprise that in today’s rapidly evolving global marketplace, supply chain professionals are at the forefront of ensuring that businesses can adapt, grow, and remain competitive. Here’s an in-depth look at the top supply chain jobs that are growing in prominence.

6.    Director of Procurement

Procurement is an essential aspect of the supply chain and the role of Director of Procurement is a crucial one. These individuals are responsible for securing the necessary materials and resources for businesses to operate on an international scale. This includes sourcing products globally, negotiating contracts, and managing supplier relationships.

7.    Supply Chain Analyst

Several predictions highlight that the demand for supply chain graduates will go through the roof in the next two years due to the fragility of global supply chains. Those will the skills of a Supply Chain Analyst should have no trouble landing a position. Supply Chain Analysts are experts who gather and analyze data on inventory, transportation, and production to identify bottlenecks and inefficiencies. They use this data to make informed decisions that enhance the supply chain’s efficiency and responsiveness to market changes.

8.    Process Improvement Manager

Process Improvement Manager is a relatively new job role but one that is rapidly growing in popularity. Their key responsibility is to find ways to enhance the overall efficiency of supply chain operations. They do this by identifying opportunities for streamlining processes, reducing waste, and improving the overall productivity of the supply chain. By implementing Lean and Six Sigma principles, they strive to drive continuous improvement, in an effort to make supply chains more agile and cost-effective.

International trade finance jobs

The finance sector in international trade has grown leaps and bounds over the past decade, with professionals playing a pivotal role in both financial management and technological adaptation. Diverse job opportunities and the integration of technology into financial practices means that the finance sector offers a promising career path for those seeking to navigate the financial frontier of international trade. Let’s look at some roles gaining more attention.

9.    Financial Risk Analyst

According to the Association for Financial Professionals Risk Survey, financial risks were among the top four risks having the greatest impact on earnings in the next three years. Financial risks can often make or break a business and this is where the role of Financial Risk Analysts becomes crucial. These professionals identify and manage the financial risks associated with international trade, including currency fluctuations, credit risk, and market volatility. They also curate risk management strategies to protect businesses from adverse financial events and help them navigate the complexities of international markets.

10.    Fintech Consultant

With the global fintech market being expected to reach a market value of $326 billion by 2026, the need to leverage this innovative technology in international trade is becoming imperative. Fintech Consultants help businesses achieve this by advising them on how to harness financial technology (fintech) solutions to improve their international trade operations. They help companies adopt digital payment systems, blockchain, and AI-powered financial tools to enhance efficiency and reduce costs.

Navigating the fast-growing world of international trade jobs

International trade is flourishing and so are opportunities for those equipped with the right skills and knowledge. If you have the right training and credentials, you’re one step closer to landing one of these lucrative jobs. Invest in specialized education, such as degrees in supply chain management or finance, to get the foundational knowledge needed to excel in these fields.

In addition to that, credentials that show you have knowledge and skills in key competency areas of international trade will give you a competitive advantage in this job market.

Staying informed about the latest industry trends and global market developments is also crucial. Follow trade organizations on social media (we recommend connecting with FITT’s growing LinkedIn community), sign up for industry newsletters, and look for networking events in your area.

Lastly, hone your language skills, especially if you want to land import and export jobs, as proficiency in multiple languages can enhance your appeal to global employers. Once you have developed the skills to grow your global trade career, the world of international trade jobs is yours to explore.

The post Top 10 fastest growing international trade jobs in 2023 appeared first on Trade Ready.

Global supply chains are changing rapidly and many businesses are recognizing that adopting new technology will help them navigate the changes, streamline their operations, and save time and money. With the pressure to apply technological solutions to get ahead of the game, businesses of all sizes are also facing a widening supply chain talent gap.

Investment in supply chain digitization is accelerating rapidly. Better demand planning, product traceability, real-time product visibility, and anomaly detection are some examples of using data in new ways – and while it can be a game changer, it comes at a cost.

At the same time, research shows that while there is a growing understanding of the need to digitally transform their supply chains, many organizations struggle to implement them.

Transforming supply chains with technology

The process to re-engineer, streamline and apply technology to transform supply chains is complex. “Lags with supply chain transformation has a lot to do with hurdles that arise with any large-scale change” – challenges with budget, lack of organizational urgency, and implementation of new technology into legacy systems, according to an industry whitepaper report by Avetta.

Investing in the right technology and the resources to implement is further complicated by the rate of change in the supply chain environment, as well as increasing supply chain disruptions and risks.

Avetta’s whitepaper adds that “changing workplace safety and labour laws, constantly shifting geopolitical dynamics, and unpredictability in prices continue to impact risk and vendor management…. inconsistent vendor on-boarding, delayed shipments, and inefficient inventory management are common bottlenecks.”

Digitizing the supply chain seems to be the key to increasing transparency and visibility while controlling replenishment, maintenance, production, transportation, delivery and customer satisfaction, as well as driving efficiencies and mitigating risk. Automation and artificial intelligence (AI) technology is unlocking real-time decision making and forecasts. Big data and predictive analytics can provide new levels of transparency and increased cost savings.

With each advancement in technology, the way companies do business internally, and with each other is changing and it’s profoundly changing the supply chain management labour market.

The supply chain talent gap

Labour shortages in the supply chain industry are well documented. According to a report by Datex; “Growing complexity of the supply chain is also negatively impacting the available labor pool. Customer needs and requirements are increasing in areas such as order fulfillment, VAS and omni-channel retailing. This increase in complexity means workers must have more technical skills to fulfill minimum requirements… 60% of supply chain jobs require skills that a mere 20% of the labor pool possesses.”

The projections indicate that it’s a situation that is not going to get resolved any time soon. “For every graduate with supply chain skills there are six holes to be filled, and it could be as high as nine to one in the future,” warns Jake Barr, CEO of BlueWorld Supply Chain Consulting.

The labor shortage in the supply chain workforce is affecting businesses worldwide. Companies have a lot at stake when hiring someone to handle these large and ever-changing supply chains, as Denise Montrose points out. Beyond recruitment, what’s the best strategy for empowering your employees who are dealing with the complexity and the challenges on the day-to-day? “How fast can you change direction with a new system, software, or tool and expect the team to keep up?”

Leading companies are actively working on the shortage problem. The solution begins with developing their workforce through clear career-pathing, education, talent development partnerships and other means.

Cisco Systems’ SVP of Supply Chain Operations, John Kern, recently said “The supply chain industry is undergoing one of the most massive talent shifts we have ever seen.”

Train for the new supply chain landscape

If you are looking to have a future in SCM, then you need to be smart, fast, flexible, engaged, intuitive, and above all else analytical. It’s a highly technical landscape requiring a new suite of skills. Preparing for the brave new world of supply chain management will require real life hands-on training, Denise Montrose explains.

“When considering a university program, think about how well prepared you will be at graduation. Academic education can only get you so far. Hands-on training, internships, field trips, and real world experience…will provide you the best start to a promising career.

Students need to dive in and get their hands dirty. They must have the ability to multitask, change direction with flexibility, and they must possess the discipline to ask questions until they find the right answers. They need to think for themselves under great pressure and analyze solutions.

For those already engaged in the industry, a key piece of advice is to develop your knowledge and skills with the technology being used within your organization, as well as in the industry. Beyond staying current with technology, Denise Montrose points out that “certifications are a great way to ensure that you are still learning about industry trends.”

The post Transforming supply chains and the talent gap appeared first on Trade Ready.

Based on sessions at the Warehousing Education and Research Council’s (WERC) Annual Conference, the South Africa Production and Inventory Control Society’s Annual Conference and the APICS International Conference and Symposium, the following observations are provided concerning the current gap in talent availability in the supply chain management field.

It is difficult to pick up a trade magazine without finding an article or commentary on the “Supply Chain Management Talent Gap.” One estimate from a session at the APICS 2015 Conference placed the requirement for skilled workers at around two million by 2025.

Another attendee stated that his company was facing the reality of over 40% of his supply chain workforce reaching retirement age in the next “few years.”

Facing the “Perfect Storm” in supply chain recruitment

Couple this with the continued realization that competitiveness in today’s business environment depends on a responsive, agile supply chain, and it starts to become obvious that the talent gap is a reality.

Adding to this shortfall of talent is the difficulty that Supply Chain Management Programs at some institutions are having with attracting faculty to meet the growth requirements for teaching Supply Chain Management.

There are also fewer PhD’s coming out of the programs, and they are graduating into the job market at too slow a rate to backfill retirees. It would appear that we may be facing the “perfect storm” in the supply chain management talent acquisition and retention.

What the schools are teaching graduate students has to be different from what we are teaching undergraduates.

This point was agreed upon by both the academics and industry representatives in all the sessions conducted.

Understanding the “big picture” of supply chain management

One concern was that MBA students need to have a better understanding of the end-to-end supply chain and the ability to think from a systems perspective when viewing supply chain issues. They need to understand the relationships between the other aspects of industry and the supply chain.

Another concern from industry is that graduates of a Supply Chain Management program should have some knowledge of scheduling and engineering in order to understand facility layout and facility design. That understanding, they argue, is necessary to enable them to solve flow issues in facilities.

This sentiment was echoed by another industry representative, who suggested that an in-depth understanding of some basic engineering practices and Material Requirements Planning would allow   graduates to be more like generalists and of a greater benefit to the company.

Industry attendees said what they need in graduates are specialists in supply chain management: “This should be the focus of Supply Chain Management programs.”

Industry professionals want graduates that understand the “big picture and where they are in the picture.” According to them, schools need to get graduates “away from silo thinking, and to have communication skills that cut across cultures, people differences, while understanding how to optimize a facility or operation.”

Focus on relevant, up to date case studies

A primary requirement identified by the attendees at all of the sessions was relevancy. What are the students learning and how current and relevant are the course materials? One anecdotal story in the discussion concerned a decades old case study being used to discuss supply chain IT.

The concern of the members of the session centered on the relevancy of such an old case study for supply chain management or IT. Case studies should be used, but they have to be current and relevant if the students are going to learn from them.

Another area of concern is the ability to think critically.

Can the students coming out to the respective supply chain/logistics programs analyze a situation and be able to relate the cases, lectures, and discussions to the projects that they are assigned to?

There was a discussion of the ability to apply Lean concepts and Six Sigma to supply chain and logistics operations, as well as the need for project management skills. Several companies represented in the sessions explained the need to understand Six Sigma and have at least a cursory understanding of Lean and Six Sigma early in a career.

The consensus of the attendees was that there should be a working knowledge of both Six Sigma and Lean principles in the formal education process, in order to allow new graduates to be prepared to assume the roles of project leadership.

The same holds true for the Theory of Constraints. Attendees expressed the belief that graduates should arrive at their new company with a basic understanding of TOC from their operations management and supply chain courses.

Determining “the What” and “the Why” of big data

An area of consensus was the graduates of supply chain and logistics programs need to be able to determine “the what” and “the why” of supply chain data, and be able to format the data so that it is expandable, exportable and useable to convert into meaningful information.

Another aspect of “soft skills” discussed was the need for college graduates to have basic finance and accounting skills, to include budgeting and personal finance skills.

Here is a great example of what can be implemented in academia to help prepare graduates. Schools should establish classes on basic “soft skills” to prepare students to be more competitive during the interview process.

Making decisions on risk assessment and inventory management

Risk analysis skills are also critical. This is crucial from a safety perspective, as well as from a business risk analysis perspective.

Students need to be exposed to business risk analysis as part of their formal education process.

Risk assessment is considered a skill set that future leaders and managers need exposure to while still in school.  As one corporate attendee pointed out, this needs to be both training and education.

Other critical aspects that need to be included in supply chain programs, according to the industry participants in the sessions, are warehouse/DC layout design, basic supply chain systems such as ERP/WMS/TMS/Inventory Management knowledge, and how to use the outputs from the systems to make decision.

There was also concern for the lack of instruction on shipping/shipper coalitions and their impacts. Several companies mentioned the need to have students more than just aware of these topics and the link between our industry and sustainability measures and practices.

Continuing to discuss global supply chain competencies and the needs and shortfalls in the education system for our future workforce will help all of us to educate, train, attract and hire quality employees and begin to close the widening gap in supply chain talent.

The post Bringing education into the future is the key to bridging the supply chain talent gap appeared first on Trade Ready.