They say ‘the future is female,’ and for the supply chain management industry, they’re not wrong. In fact, in 2022, women accounted for 19% of C-level positions in the average supply chain organization, up from 15% in 2021, according to a survey by Gartner, Inc.
This number continues to steadily increase for a multitude of reasons, and the companies that recognize this and account for this in the market are the ones that are sure to thrive as this workforce shift continues.
But, to truly understand how to account for this transition and what these new women leaders want from their supply chain management positions, we must first ask ourselves why this influx is occurring to begin with and the impact that these new women in the workplace will have on every aspect of the industry in the present and future.
Why are we Seeing This Industry Influx now?
There are many factors at play when it comes to the surge of women in the supply chain management world. Everything from The Great Resignation and a consensus for a sense of purpose to higher pay and the ability to be a pioneer for other women in the future inspire these women leaders to join the supply chain management field. However, it’s no surprise that women are entering this industry more than ever before as Gartner also released a study that showed women comprise 41% of the supply chain workforce.
On top of this, with a market size valued at $16.64 billion in 2021 and an expected CAGR of 10.8% from 2022 to 2028, the potential for profit and growth in this industry in and of itself is enticing enough for women to want a place in the market.
However, the main cause of this influx according to multiple studies and surveys is the potential for advancement and authority in a developing industry of interest and power. The supply chain industry affects every aspect of business, and managing these supply chains is what makes or breaks companies worldwide.
Knowing this, it’s no surprise why more young industrious women leaders as well as seasoned women leaders looking for new opportunities are turning to this industry for a chance at influence and advancement beyond their current positions and statuses. Fortunately, their drive and impact is exactly what this industry needs to continue to fuel and develop it for a more diverse, progressive, and driven future as seen in the present and projected statistics below.
Women and the Future of Supply Chain Management
The benefits to women in supply chain management are just as impressive as the surge of women in the industry itself. In fact, new research indicates that women provide a key advantage in boosting supply chain collaboration and efficiency. Similarly, manufacturing companies are currently seeking diverse talent, including women, to address growing complexity throughout the supply chain and a widening skills gap.
Even from an integration and collaboration perspective, this transition is a win for most companies in the supply chain management world. According to Forbes, “By encouraging more female leadership to work side by side with the male leaders in the supply chain, teams will benefit from greater cooperation in supplier-customer relationships.”
On top of this, 63% of men, and 75% of women, believe the skillsets of women are advantageous for supply chain management, according to LHH. As Hugh Williams, Managing Director of Hughenden Consulting, stated in his interview on the subject with LHH, “Women are generally better equipped naturally than men in this respect. So, industry really should be working out how to attract more women into a role that still looks very traditional.”
Although nothing is ever truly set in stone in the supply chain market, one thing is clear from these surveys, statistics, and insights: women belong in the supply chain management world and can make a huge impact on the industry’s success as it progresses.
Stimulus’ Diversity Initiatives and Efforts to Uplift Women Leaders
At Stimulus specifically, the value of women in the supply chain management industry has never been a question. From our Founder and CEO, Tiffanie Stanard, to the myriad of women leaders on our team and surrounding us, we pride ourselves on our ability to uplift women in the industry and develop initiatives that create a better future for all.
Some of these initiatives include our Supply+Demand webinar series, our dedication to embracing DEI in our own workplace, and our mission to help others diversify their supply chains likewise.
We also cover topics that matter to women leaders on our blog such as supply chain shortages directly affecting women as well as The Great Resignation and how diversity and entrepreneurship will impact this movement.
In the end, women aren’t just the latest trend in supply chain management but rather a highly integral piece of the supply chain puzzle that every company should be using effectively. However, to do this, companies must focus less on how this transition will affect the market and more on how to keep these women leaders motivated, challenged, and progressing in ways that truly matter.
