October 19, 2023 • 37 mins
For the second episode of Season 2, Ted Stank and Tom Goldsby speak with Terry Esper, professor of logistics at Ohio State University and Chair Elect for CSCMP, and Tom Nightingale, CEO of AFS Logistics and chairman of the board for CSCMP.
They discuss professional development in the supply chain industry and highlight the paradigm shifts in organizational structures and talent acquisition strategies. Listen as Nightingale shares the latest initiatives by CSCMP, the growing trend of corporate memberships, the importance of local round tables, and the future of supply chain education.
From the changing dynamics of professional organizations to the strategic engagement of CSCMP members, this episode is loaded with actionable insights that will redefine your understanding of the industry.
Listen in as our co-hosts also discuss the near government shutdown, UAW strike, low water levels in the Panama Canal and Mississippi River, the Iran oil agreements, and more.
Related Links
- UAW strike news
- LMI high-water mark
- Low water levels in the Panama Canal
- Tom Goldsby on the United Auto Workers strike’s roots in AI and ramifications for auto logistics
- UT Haslam’s Ted Stank Honored with Supply Chain Hall of Fame Induction
- Learn more about ASF Logistics
- Yellow Logistics files for bankruptcy
- Learn more about CSCMP's roundtables
- UT's Executive MBA for Global Supply Chain degree program
- UT's Masters in Supply Chain Management Online degree program
- Subscribe to GSCI’s monthly newsletter
- Latest news and insights from the GSCI team
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Intro (00:00):
Welcome to the Tennessee on Supply Chain Management
podcast.
Listen in as co-hosts Ted Stankand Tom Goldsby set sail into
the world of end-to-end supplychain management, diving deep
into today's most relevantbusiness topics.
They'll share insights andpressing industry issues and
tackle the challenges keepingsupply chain professionals up at
night.
If you're enjoying the ride,download and subscribe to
(00:22):
Tennessee on Supply ChainManagement on your favorite
podcast platform now.
Thomas Goldsby (00:27):
Hello and welcome to another edition of
Tennessee on Supply ChainManagement coming to you from
the Gaylord Resort, beautifulOrlando, florida.
A special edition of thepodcast today For a number of
reasons.
We got a couple of really goodfriends joining us on site here
at the CSCMP Edge Conference.
I've been trying to call it theTED conference for some time.
(00:48):
Why?
Because I very own Dr Ted Stankwas honored this morning.
Ted, you seen anything good inthe last few days since you've
been here?
Ted Stank (00:56):
It's all good.
I love this conference becauseI can't walk 10 feet down the
hall without seeing an oldfriend.
I think it just took us about45 minutes to get here from
where we were before Now it wasa long way.
When you have conferences atthe Gaylord, it's always a long
way.
It was, it was.
Thomas Goldsby (01:13):
It's because you see so many people that you
know, We've been looking forwardto this banner day Showed up in
force from the big orange tosee Dr Ted Stank, our co-host of
the Tennessee on Supply ChainManagement podcast, come across
the stage and I congratulatedyou for that.
You were able to walk out onstage without the cane, without
my cane, offer some greatremarks, very humble remarks.
(01:36):
I'm sure those will land onYouTube here soon.
Encourage folks to go out andsee those and you also walk back
on stage.
Ted Stank (01:43):
I did down steps too.
Beautiful Down steps too.
Thomas Goldsby (01:46):
But what he's referring to is I had my hip
replaced three weeks ago Exactlythree weeks ago today, and it's
the second of two hipreplacements, but meanwhile the
first one went a lot easier,right.
Ted Stank (01:55):
First one yeah, the first one was a PCK.
It went two weeks and I waswalking fine, so I thought this
one would be the same Some of uswere scheduling our heads.
Thomas Goldsby (02:01):
You're scheduling that surgery three
weeks before You're big.
Ted Stank (02:05):
Oh, my bad ass wife likes we have a window of
opportunity.
Thomas Goldsby (02:09):
You're doing it, it's going down.
Well, hey, like I said, we'revery fortunate to have a couple
of good friends.
It feels a little bit like aChristmas Carol, like Christmas
past, present and future.
It's CSCMP past, present andfuture.
If you all, we've got thesitting board chair and Tom
Nagel, who's joined us, and theincoming board chair and Dr
Terry Esper, so we'll get tothem in due order.
(02:31):
But hey, there's been someaction out there in the world
and supply chain Seems as thougha government shutdown is
getting kicked down the road.
I think 45 days from now, 44days maybe will be gnashing
teeth and wringing hands as towhether or not there's going to
be a government shutdown.
Ted Stank (02:46):
Now there'll be some drama before then, supposedly
this week, because severalmembers of the Freedom Caucus
are challenging McCarthy forleadership.
But it'll all work out smoothly, because our government always
works things out completelysmoothly.
Thomas Goldsby (03:00):
Absolutely, Absolutely.
UAW's still on strike.
They seem to be going a littlesofter there.
Ted Stank (03:08):
This week.
Yeah, a little friendlier there, Ford was.
Ford last week, but this weekis Stalantis, but I think they
announced today though 7,000more workers were going on
strike.
Thomas Goldsby (03:15):
Was that right?
Ted Stank (03:15):
OK.
Thomas Goldsby (03:16):
It's kind of that interesting strategy.
Ted Stank (03:18):
That's kind of really a rollout thing.
First time ever that they'vestruck all three US auto
manufacturers at the same time,great.
Usually they'll do one and tryto get an agreement in place and
then use that as the templatefor the other ones.
So yeah, this whole kind ofrolling strike is interesting.
Thomas Goldsby (03:34):
Yeah, it's kind of like bringing this strike to
your supply chain.
It's like they kind ofunderstood this end to end
notion.
And I think where to take themout at the next Like a huge
number of states that thefacilities are into.
So we're keeping tabs on that.
But just to kind of keep thingsmoving.
You, on the way, in said thatyou saw the most recent
logistics manager index, the LMI.
Yeah, and I hadn't seen theRogers and Rogers duo to ask
(03:57):
them yet about what that numbercame out, but you said it's
actually up a take.
Ted Stank (04:00):
Yeah, it came out late last week.
It was 51.6, I think, which isthe first time it's been above
50 in several months.
So, like the purchasingmanagers index, any number above
50 suggests expansion and itwas mostly due to inventory.
Thomas Goldsby (04:14):
Stocking levels are going back up and I don't
know if that's adjusted forseasonality or not.
I mean we're going intoholidays and maybe the feeling
is the inventories were gettingright sized a little bit.
Ted Stank (04:24):
Well, I mean compared to where we'd been with
inventory, where we were wayover stocked and nobody was
buying anything new.
And I think manufacturing ordernumbers are up as well.
It suggests that there is someconfidence that in the holiday
season we're going to move someproduct.
Thomas Goldsby (04:38):
As you know, as I've repeated on multiple
occasions, I have a lot ofconfidence in the American
consumer to step up, even if itmeans buying on credit more.
But I think they're going tostep up.
Ted Stank (04:47):
Where we are, though, is, like, so fragile, so it
does make me wonder if we'd hadthis shut down, how would that
have impacted holidays?
It would have been thestrongest.
I was mainly worried about howI was going to get here and home
.
Thomas Goldsby (05:01):
It's like, ok, flying down to Orlando might be
fine, but heading back, we mightbe renting a bus to get back to
.
Ted Stank (05:07):
Rocky Top.
I was the academic geekyesterday at the airport making
jokes with the TSA folks Like,hey, you're going to be able to
buy dinner tonight, aren't you?
Most of them laughed about it acouple of months ago.
Thomas Goldsby (05:19):
Shut up.
This is your week, Ted.
You can just with anybody youwant.
Ted Stank (05:24):
I'm not sure they knew that.
Thomas Goldsby (05:25):
Probably not, hey.
So LMI, kind of a high watermark on the way back.
Speaking of high water, or Iguess low water.
Low water in the case of theMississippi right.
I know you've been monitoringthat situation.
Also, the Panama Canal'ssailing schedules were affected.
Ted Stank (05:40):
You know, it's really big for the Mississippi this
time of year too, because somany of our agricultural
products move down theMississippi on barge.
And they're saying some areasof the Mississippi are like at
two feet and so it's reallylimiting in terms of what kinds
of traffic we can move on barge,which means you're going to
have to look to alternativeslike rail, which means that
what's that?
Due to rail capacity fortypical products that move on
(06:02):
rail, it just has that cascadingeffect.
The Panama Canal is at all timelows, so they're really
restricting the size of shipsthat can move through and the
number that can move through.
So interesting things to keepan eye on, with not typical
things that we track but have abig impact on what we do in the
supply chain.
Thomas Goldsby (06:21):
Something that we do track and track closely.
Fuel prices heading upward,looking at $4 fuel and diesel
higher than that something thatI track.
Ted Stank (06:31):
I read a lot of different news because I feel
like Josh King, our forummanager and our collaborative
manager.
He mentioned last night that Isaid one time that supply chains
are about constellations and Ithink the idea there is we're
just so interconnected toeverything.
I was really interested in theannouncement a week or so ago
about the agreement with Iran torelease the hostages and the $6
(06:54):
billion that had been keptlocked down from them and frozen
, and I was looking for what wasthe real benefit there.
And it was a really smallannouncement that Iran announced
shortly after that agreementthat they're going to start
increasing their oil output andI'd be willing to bet that if we
were sitting at thatnegotiating table, that that was
(07:16):
the trade-off.
It's like, hey, iran, we needyou to start kicking up on oil
because the Saudis and theRussians are not, you know, and
cutting back, so maybe that willimpact that oil price.
But speculation of diesel goingabove well, not diesel Diesel's
already above $4.
But just regular gas goingabove $4.
Thomas Goldsby (07:34):
Yeah, and then you just say I mean again these
things that could be straws onthe camel's back right.
And we just kind of teeteredand continued to deal with the
uncertainty.
Ted Stank (07:43):
Maybe we're all just getting immune to the news.
It's just like we're just goingto keep just living and
forgetting about it, comfortablynumb, do you think?
There's some times when I readthe news and thought if I didn't
have the job I had, I wouldjust shut it all down.
I think you know, and just livein La La Land, immune to
everything out there.
Thomas Goldsby (07:58):
Yeah, Now there's some bliss, maybe in
ignorance, but hey, we can't bewholly ignorant.
Ted Stank (08:04):
We wouldn't be able to do podcasts.
Thomas Goldsby (08:05):
We wouldn't be able to do podcasts and you
wouldn't be able to come up withanalogies around constellations
and then drawing thoseanalogies to other cool things
and applications.
You know, coming to CSCMP iskind of that constellation too,
right?
I mean just in terms of, likeyou said, walking down the hall,
you can't walk.
Well, you can't walk, but withthe aid of a cane you're walking
a little bit, you get a coupleof steps and you're running into
(08:27):
someone that you've known andwe had a great gathering last
night to celebrate Ted.
It was a toast and a roast andyou took it well, my friend.
Ted Stank (08:37):
Oh, you guys are pretty easy on the toast.
Thomas Goldsby (08:39):
Well, you don't know what we have in store for
you tonight, Anyway, so to buildup your strength.
It's just been great to be backhere.
I haven't missed one of thesesince 1995.
Ted Stank (08:49):
I've got a pretty good streak going, I think I had
29 in a row at one point andthen we changed the timing.
Thomas Goldsby (08:55):
You can go to Europe.
Yeah, I was in Europe with ourexecutive MBAs.
But a couple of dear friendsthat we count on running into.
Not only running into, butwe're looking to them for
leadership.
Now, in these tumultuous times,the current board chair, Tom
Nightingale, and the incomingboard chair, effective.
What is it the stroke ofmidnight on the here seat, Terry
(09:18):
, when you take over?
Tom Nightingale (09:19):
Dr Terry, One thing, one thing right.
No, it's officially December.
Oh right, officially.
Ted Stank (09:24):
When is the members vote meeting?
Yeah, that's Tuesday.
Terry Esper (09:28):
Tuesday afternoon.
Ted Stank (09:29):
Yeah, yeah, that's when we count on the official
Right.
Terry Esper (09:31):
You know, are we pre-presumptuous here, yeah,
right, right.
Tom Nightingale (09:34):
Oh, my goodness , I didn't realize that could be
too sad.
Thomas Goldsby (09:37):
I mean, you know , speaker McCarthy, I want some.
Terry Esper (09:41):
Right, exactly right.
Some man gates might jump upand say hey.
I don't know.
Thomas Goldsby (09:46):
So, guys, we can edit this if we need to, if
Esper's not in fact in theaudience.
Ted Stank (09:50):
Yeah, we'll get the next vote.
Thomas Goldsby (09:51):
We've never had to edit a podcast before it just
runs, but if we really have to.
But, tom, welcome Terry,welcome, great to have you on
the podcast.
I've been looking forward tothis and again, you're both very
distinguished in your own rightand we really appreciate what
you bring to our discipline andCSMP in particular, and we're
kind of just kind of maybehoping to get a little bit of
(10:13):
background.
Not everyone in the logisticssupply chain world even some
folks outside the logisticssupply chain world listen to the
podcast.
Tom Nightingale gives a littlebackground who you are and what
brings you here.
Tom Nightingale (10:24):
So in the day job I run a company called ASF
Logistics.
We focus on four things we area very large LTL, very large
parcel and very large freightauto and payment provider.
And then we are a small tomid-sized transportation
management provider.
Been a part of CSMP now forprobably about 25, 27 years in
(10:45):
total and I would say thatactive on the board level
probably for about eight yearsand delayed to have had the
opportunity to serve over thecourse of the past year and
hopefully to leave Terry all myproblems.
Thomas Goldsby (11:00):
Broad shoulders Terry, taking on Dr.
Terry Esper.
Hey man, what brings ?
Terry Esper (11:05):
Well, I don't know, man, it's been a long and crazy
, winding road to get here, soI'm like you guys like you
talked about being an academicnerd and geeking out.
But yeah, I'm an educator.
Right, I'm on the front line ofthe talent pipeline and supply
chain and professor at the OhioState University.
You know, I've got to put theemphasis on that.
Ted Stank (11:22):
Legally right.
Legally right it's fake.
Oh yes, Isn't that legally?
It is legally, yes, yes, yes,that's the whole story behind
that.
Terry Esper (11:30):
But, getting here again, I'm a professor at Ohio
State, but I also spent my timeat other big schools, including
Big Orange, right.
Ted Stank (11:37):
So Ted and I actually joined the faculty there Ted's
got some big orange.
Yeah, 10 years.
Terry Esper (11:41):
We ran together for 10 years there at Ohio State.
I went back to my alma mater,arkansas, for about five years
and I'm at Ohio State.
I actually got here through,you know.
In between all of that, youknow CSCMP was a big part of my
career actually started.
I think my very first CSCMP was96 as a graduate student and
pretty much almost had a fullstreak until I remembered there
(12:03):
were a couple of years thereearly in my career when I wasn't
high up enough to actuallytravel.
So I had a way excited.
Ted Stank (12:09):
Didn't make a traveling team, didn't make a
traveling team.
But ever since I made thetraveling team, then, when you
were at Hallmark.
Terry Esper (12:14):
That was at Hallmark, yeah, and.
But ever since then I've been apart of CSCMP consistently,
never missed one.
Thomas Goldsby (12:19):
You know, speaking of Terry being at UT, I
remember I was on the facultyof Kentucky back in the late
2000s.
I already know this, I alreadyknow what we're doing and I'm
watching SEC football.
Yes, terry Esper's beautifulmug on the face.
He's the face of the Universityof Tennessee.
Intro (12:35):
Oh yeah, I was.
Ted Stank (12:36):
So go back.
Thomas Goldsby (12:36):
That's probably in the YouTube reel somewhere.
Ted Stank (12:38):
Yeah, and speaking of which, you know the promo
commercial that every big schoolhas every year for football
games.
Supply chain management ismentioned in Tennessee's
promotion.
Terry Esper (12:52):
Yeah, and you know what, when it first aired, I was
in a bar because the weathergot bad.
I was at an airport bar, not inthe airport, but the hotel
right outside of an airport andeverybody's watching the game
and I'm like, hey, that was justme, I had never seen the
commercial before and somebody'slike man, that wasn't you.
Ted Stank (13:09):
I'm like, no, that was just me, I was just on TV
and, yeah, you drink for you therest of the night.
Terry Esper (13:14):
Well, no, I wasn't.
I wasn't that famous as was all.
Nobody really believed it.
It happened so fast.
That's the part.
Ted Stank (13:22):
If you get, on X or TikTok and ask Taylor Swift for
a date, you might be able to getto that level.
Anything.
The next Travis Jones?
Get to that next level.
Hey, Tom, big issue.
Speaking about being on thefront lines, the kind of
business that you're in isliterally on the front lines.
We talk a lot aboutmanufacturers and retailers Huge
part of our economy but nothinghappens.
(13:43):
Nobody buys if we can't movethe stuff to where people need
it.
What are the trends are youseeing out there in terms of
where we are now and lookinginto the next few months,
particularly as we head into theholiday buying season?
What kind of things are youseeing out there?
Tom Nightingale (13:57):
Yeah.
So we have a unique vantagepoint on the industry because we
audit and pay about $11 billionof freight across all modes.
We've got a pretty amazingsample of data to pull from and
we do produce a freight indexthat's forward looking as well,
and it really varies by mode.
It's not the same story acrossevery mode.
Truckload has started to bumpup.
(14:18):
The bottom called that veryearly about a quarter ago.
It's not inflected yet, but ifI had to guess and we don't
officially predict out past thequarter I think after we get
through Chinese New Year, ifenough inventory bleeds off and
there isn't too much consumerdemand destruction, truckload
should start to definitivelyinflect.
Now, it's not going to be amassive ski slope going back up,
(14:41):
but it will be solid growth atleast yeah, growth, and not just
bumping.
This bottom Parcel is weak,parcel is very weak.
We audit and pay about $4billion worth of parcel and
we've seen much more aggressivepricing coming out of the parcel
carriers because they need tofill their networks and they're
all juggling their networks UPS,obviously in their case, to try
(15:04):
to offset labor cost and laborincreases.
Fedex, as they continue to tryto readjust their operations
from disparate operations intoan integrated operation.
And then LCL got really crazy,going from a declining market to
all of a sudden really justsolidifying because of the
yellow bankruptcy.
Freight got moved and thecapacity got absorbed, which was
(15:25):
good, but it definitelystiffened up pricing and I think
it will stay that way probablyfor another three months or so.
And assuming that demandcontinues to fall gradually in
the manufacturing sector, then Ithink LTA will be right back to
where it was pre-yellowbankruptcy, which was falling at
about a 3% to 4% quarter overquarter level.
So it's a different story bymode.
(15:46):
We don't predict ocean, we justdon't have a large enough
sample size there.
But it's been interesting towatch the market ebb and flow
and particularly if you matchthat up against our revenue
model, it creates a lot ofgyrations in our business.
Thomas Goldsby (15:59):
It was very curious when you have one of the
big three LTL carriers closedits doors and I mean it was.
It was that risk for a longlong time.
Right saw it coming butmeanwhile in terms of absorbing
it, so you're saying that theLTO industry largely was able to
kind of absorb that and yeah,moving.
Ted Stank (16:15):
Yeah, it's probably helpful that it happened in a
somewhat of a declining market.
Yeah, absolutely Good point.
Tom Nightingale (16:20):
There was enough capacity out there and
freight got moved.
It didn't necessarily find hisrightful home.
Hmm, you know, somebody thatwas using yellow is probably not
going to be happy with thepricing they have from somebody
like, say, Old Dominion, andyou'll see that reset over the
next probably six to nine monthsas contracts normalize again.
But at least freight didn't getstuck, it didn't get stranded,
(16:41):
wasn't waiting on docks otherthan a handful of yellow
facilities where they just kindof stopped working when the news
started to get ugly and we did,we did a lot of kind of Saving
of loads that were stranded outthere.
But other than that theindustry handled it in good form
.
Thomas Goldsby (16:56):
Dr.
Esper, you pontificateroutinely in front of students,
your research leading scholar inour field.
Conduct a lot of talks.
What are the things you'rewitnessing?
What's on your mind in thissupply chain world?
Terry Esper (17:09):
Yeah, I guess just kind of picking up on this
narrative.
You know, I find it interestingthat we talk about what
happened with Yellow, theresilience of our industry.
I know that over the lastcouple of years it seemed like
doomsday.
Right, when you think about thecrisis and you know nowadays,
like everybody's like, hey,what's going on in the supply
chain space?
Right, people who never evenknew what supply chain
management was are all concernedthere right now, and and
(17:32):
rightly so.
Right, because we've had a lotof press about a lot of issues
that we've kind of contend with.
But you know what I'm actuallyjust amazed by when I think
about all that we've gonethrough, and even this most
recent situation with Yellow,even the conversations that we
were having, as we were, youknow, preparing for what could
have been a UPS strike.
It's just how resilient we arein supply chain.
That's, that's the business.
I mean, that's what we do, andI've had to kind of share that a
(17:53):
few times.
Like you know, we've had crisesbefore and you probably didn't
know about it because we've beenso good at trying to it, at
navigating around it and throughit.
Yeah, but the reality is thatthat's the business we're in the
supply chain, right.
I mean, it's a it's a rollercoaster ride in this business
and you know We've had our shareof ups and downs over the years
, you know, I think now they'remore pronounced because they're
more eyeballs, more visibilityto what we're doing in supply
(18:15):
chain.
It's always nice to kind of,after we get through these
issues, to kind of step back andlook at kind of where a Yellow
situation Is in the grand schemeof all the different issues
that we've had to continue withover the years, right, and so
I'm always just thinking about,just at industry level and in
the supply chain community, howwe've been able to, just as you
(18:35):
say, and flow.
As you know, the environmentchanges all the stuff you guys
just talked about.
I mean, you know it's, it's anup and down for us and that's
just kind of the the businessthat we're in.
And having said that, you know,another thing that I'm just
really watching and thinkingabout is just how the increased
visibility that we have as acommunity Is starting to shift
and shape our work, ourdiscipline, right.
(18:57):
You guys are seeing it at UT,like you said, you guys are on
the commercial, more peopleconcerned about what's going on
in supply chain.
Ted Stank (19:04):
Yeah, I always say that prior, prior to the
pandemic, nobody knew whatsupply chain management was.
Now they still don't know whatit is, but they've heard the
term.
Tom Nightingale (19:12):
Yeah.
Thomas Goldsby (19:17):
Yeah, I think we've got kind of a
responsibility as well to kindof seize and stretch that moment
, if you will, right, right, andwe're making movement.
We looked at leadingprofessional organization, cscmp
, to kind of stretch that moment, make it, make it a movement.
So tell us, tom, about whatyou've been undertaking during
your time as board chair andsome of the big initiatives here
at CSCMP to make it a movement.
Tom Nightingale (19:38):
You know, as board chair you really have a
pretty limited window to try toaffect change.
So you kind of have to pickyour balance.
And thankfully, you know, after60 years of this, CSCMP is
really good at a lot of thingsand the things that that we're
really good at, I kind of didn'tmess with them at all.
The two areas that I focused onMost heavily during my tenure
were the one that's under thewarline, which is just creating
(20:02):
better accountability, bettervisibility, better transparency
for the board and management toensure that we're aligned, so
not the kind of thing a memberwould necessarily see or
experience, but what they seeand experience is the fact that
we continue to get better andbetter at a faster and faster
pace.
The second area is go to market.
So we made a lot of goodstrides and there are go to
(20:22):
market strategy because, despitethe general awareness of the
world now about supply chain,the awareness of CSCMP is not
where it needs to be.
The amount of value that wecreate for our members, the
amount of knowledge that webring to the table, the amount
of opportunity that we createisn't as known as it should be,
(20:43):
and we've had a great history oftrying to tackle individualized
items.
You know a digital strategy ora member experience or a
conference experience but we'venever really looked at that as a
comprehensive go to marketstrategy and really trying to
focus in on our markets, ourcustomers, our channels and our
product and value proposition.
So Elijah's been leading thatand doing a nice job with it,
(21:06):
got a long way to go with it.
Still, it's a massive project.
If Terry decides to keep itgoing in his reign of terror
then yeah, we're really just inthat top of the first inning
right now.
Long, long way to go.
But it's the right thing to dofor our members, because the
more members we can bring in,the more content we create and
(21:26):
it becomes a really virtuouscycle for everybody.
My understanding is thatcorporate memberships are
growing.
Ted Stank (21:31):
Yeah, I think so, like a wheel.
I mean, a huge difference fromwhen I was sitting in you guys
chairs was we still werepredominantly an individual
membership, and I think it'sinteresting to talk more with
you guys about the changingnature of professional
organizations and the fact thatit is more corporate.
University of Tennessee is acorporate member, so what's your
(21:52):
perspective on that?
Tom Nightingale (21:54):
I think it's a big deal, because I think that
corporations recognize the factthat they want to attract the
best talent and that the besttalent wants to continue to grow
after they get out ofuniversity.
It's not to say thatuniversities are failing.
It's not to say that they'recoming up short.
It's to say that there is anongoing need for professional
development and thisgeneration's coming up now looks
(22:17):
at this as part of thecorporation's responsibility to
them to continue to grow, andthe corporations look to them as
part of their responsibility,as a good employer or teammate,
to improve their skill set andtheir network so they can become
better.
So I think it's actually you'reseeing, kind of the marketplace
(22:37):
speaking, and the fact thatcorporate memberships are
growing so well, yeah, so it is.
Terry Esper (22:42):
It's just next step in that talent pipeline, yeah,
but I think it also raises achallenge, because now we have
to be a little bit more heavyhanded and a little bit more
intentional and strategic aboutensuring engagement right,
because if you're a part of acorporate membership, you could
technically become a member ofthe organization by reason of
your corporation becoming amember and you might not
necessarily lean into themembership right.
(23:04):
That's one of the differencesbetween those individual members
that they were signing up,right if you're paying at a park
, at pocket.
Yeah, they were signing up andthey were engaged right.
But if you are kind of a partof an umbrella of membership,
you may lean into all thebenefits and all the resources
that we have.
You might just kind of touchthe edges a bit.
So we have to be moreintentional and focused on how
do we ensure that we're bringingthose corporate members into
(23:26):
the organization.
Ted Stank (23:27):
So that whole awareness thing, you know, is
really good.
Yeah, absolutely.
I gotta admit I'm somewhatunaware of all the different
things that I can engage.
Certainly, this conference,everything there's a biggie
right, but so many other thingsthat you can avail yourself of.
Terry Esper (23:41):
And I think that's where the you know.
So, one of the things thatwe'll be really focusing on in
2024, I mean we did it in 23 andI wanna keep this going in 24,
is the local round table, thelocal chapters, right.
I mean, how do you take a nineto 10,000 member organization
and make it feel like you belong?
It's gonna be at the locallevel, right.
I mean we come together everyyear at the conference, but the
reality is that the local roundtables that's where the rubber
(24:05):
meets the rubber.
Ted Stank (24:06):
That's where the life goes.
How ?
Tom Nightingale (24:08):
Well, we're north of 50 at this point, and
it grew a lot last year.
Membership overall grew 21% andthe number of events grew 39%.
Ted Stank (24:19):
Yeah, I saw that in your presentation.
Tom Nightingale (24:21):
Yeah, and Terry's 100% right.
This is conference is amazingand maybe that hasn't been
should come, but it's a once ayear event and you need that
continuity, you need thatrecency, that frequency, and
round tables are that localtouch point.
They're super powerful.
Ted Stank (24:38):
I mean, that's how I got involved with it.
Tom Nightingale (24:39):
Yeah, me too.
MostYeah, me too.
The Albany, New York roundtable.
Terry Esper (24:43):
I was at Atlanta, Kansas City, Hartland
Tom Nightingale (24:49):
Yeah, as a doctoral student.
Thomas Goldsby (24:51):
Yeah, and the round tables are really where
the action is those other 51weeks of the year.
It's where you connect withyour community and just some
tremendous things.
Of course, columbus has atremendous one, right.
I think about how supportivethey are of the community and
also, I'd just say, our studentchapter on campus as well.
Right, we think about thestudent chapters and it's just a
robust group and it's great tosee our students here.
(25:13):
Yeah, it is, it really is.
Ted Stank (25:15):
Getting them here, I think, is a big way to get them
jazzed about it, because atleast when I was on the board,
one of the big challenges we hadwas we had a pretty robust
student participation in CSCMPthrough student memberships and
then they would get out workingand they would disappear and we
couldn't find them.
So how do you keep them sticky?
Terry Esper (25:34):
As an educator coming in the board chair role,
I mean, that's something I'mpassionate about and I feel like
we've got someone who's ineducation.
We might as well lean into thata bit.
That's something that's on mymind, right.
How do we continue thatpipeline of membership and how
do we not have that tapering off?
And then they find their wayback some years later, once
their corporation becomes amember, or once they say hey,
let me be individual.
Ted Stank (25:53):
Or is that right?
Like you said, your firstcouple years with Walmart?
Yeah, but I wasn't above thebar, right.
Terry Esper (25:59):
So we're thinking about that how do we enhance
that connectivity between thestudent CSCMP experience, the YP
experience, and how do wereally nail that?
Ted Stank (26:07):
And the students are clearly involved to get a job.
There's great content when theygo to their meetings and stuff,
but they're mainly there to getpizza and talk to Tom.
Nightingale when he comes totalk to the round table because
he might give him a job right.
Tom Nightingale (26:21):
I was giving a bunch of your guys a hard time
the other day because they wereall corralled into one circle.
I walked up behind him I saidhey guys, let me give you a pro
tip.
Don't talk to each other.
Ted Stank (26:30):
Don't talk to old people like me.
Yeah, right, right.
There are a lot of us walkingaround here.
That dude doesn't have a job.
Yeah, that's right.
Thomas Goldsby (26:37):
Again at the universities we get excited
about the future.
But I'm just curious about Tomyou almost kind of described
with regard to freight kind ofbody mount heading up.
Sometimes we use the term buka.
It's a highly volatileuncertainty.
Ted Stank (26:50):
Can you say that on a podcast?
Thomas Goldsby (26:55):
V-U-C-A
ambiguous future.
But meanwhile, what are thethings that excite you, as it
might relate to the field, ouropportunities, as well as the
organization.
Tom Nightingale (27:08):
Tom, I'm going to leave you.
I would say that we touched onthis earlier and that the world
does know what we do now, muchmore so than they did before.
There's still some ambiguityabout it.
You know, supply chain includeprocurement, does it include
demand planning?
All these things that maybepeople don't think about because
they think about the truck onthe road.
But I think the overallawareness is really exciting.
(27:30):
I think the level of educationthat's available now, both in
university settings and outsideof university settings, is
amazing.
You know, our SC Pro going onto LinkedIn Learning has been, I
mean, 7,000 people.
Now he said that the smallerstarted.
Yeah, it's a tremendous SC Proclass on LinkedIn Learning.
(27:51):
That's amazing reach for us asan organization and it's
indicative of the hunger that'sout there because now there's
awareness.
I mean I think about when I wasgoing into undergrad nobody
ever, ever, ever talked aboutgetting a degree in supply chain
management.
Ted Stank (28:04):
What was your undergrad degree?
Mine was in marketing.
Tom Nightingale (28:07):
Marketing and management, and international
business.
Ted Stank (28:10):
Mine was mechanical engineering and political
science.
Thomas Goldsby (28:14):
Econ finance.
Tom Nightingale (28:15):
Yeah, I mean, it's just so none of us started
people of a certain era, certaingeneration.
It just wasn't really even anoption.
Ted Stank (28:21):
And there's so many great options now and we're
graduating 430 north of a yearin supply chain and it's just
staggering, yeah.
Terry Esper (28:30):
Oh man, we're much smaller than that.
I'd say we're more close towell, what about across the two
departments?
Oh yeah, I mean we'redefinitely in the low hundreds.
But yeah, across the two, right, but again, it's still just
indicative of-.
Ted Stank (28:42):
Yeah, so to your point, Tom, there's a lot more
people coming out with at leastsome basic knowledge.
Tom Nightingale (28:48):
Absolutely, and there's so many good options.
And then you know, CSCMPcontinues to fill that role of
proliferating that knowledge out, even at the we're talking high
school levels now in some cases.
Yeah, it's great, and I thinkthat that level of awareness,
that level of optionality interms of education, and then the
emerging set of tools that areout now, it's a lot sexier of a
(29:09):
business than it used to be Imean when we were doing this on
Green Bar and, yeah, it wasn'tfun.
But now all of a sudden we'vegot really interesting tools
that are getting younger peopleexcited about the business and
they're seeing it as a careerpath into the CEO role.
Absolutely, yeah, that's whereyou're at.
Terry Esper (29:27):
Yeah, if I could just add to that.
I think you're spot on, tom,and I think you know.
What's interesting to me, toois that, you know, I guess in my
limited thinking of CSCMP, it'sthe gathering of supply chain
people, right?
But what I find perhaps moreintriguing about these 7,000
folks that are on LinkedIn,learning and even what we're
seeing in terms of, you know,attendance and little looks and
(29:48):
crannies of, like, interestingpockets of attendees at the
conference, now, these are notsupply chain people.
These are people who own salesfinance, who feel the need to
understand what's happening insupply chain, right.
So it's interesting becauseit's not just about, you know,
reinforcing the talent that's insupply chain.
It's hard to hear.
Yeah, it's not someone who maynever take a job in supply chain
, but they feel the need tounderstand what's happening in
(30:09):
supply chain in order to dotheir job better in finance or
in sales.
Ted Stank (30:13):
Well, you know, organizationally that's been a
battle we've been fighting fordecades right.
It's better recognition of thevalue we bring to the
organization, and thatrecognition is huge.
Thomas Goldsby (30:23):
Well, I went into the opening day of the
intro to supply chain managementclass, an alumni auditorium on
campus probably taught in there.
You know 500 students and youknow a smattering of them have
declared supply chain as a majorcongratulations.
Maybe they got it figured out,but I went in with the message
saying most of you in here willwork some shape or form in
(30:45):
supply chain.
You just don't know it.
I think all of us around thistable would have been in that
camp you know, some years ago,right?
Terry Esper (30:52):
Yeah, all our majors, right.
Thomas Goldsby (30:53):
It finds us but to the extent that we can find
them right, and I think that's areally important thing.
You know, we have this platform, we have this opportunity.
It's largely impressive, in thetime we've been in the field,
to kind of take supply chain tothem whether they're ready for
it or not.
Ted Stank (31:07):
So to the extent that we can make them ready for it,
Well, we've always said supplychain is kind of a perspective
on managing a business and Ithink that perspective is
starting to get more accepted,particularly given the
disruptions.
Terry, you said earlier thatall these things disruptions
have been going on forever butnobody really recognized it.
It took like a major disruptionthat we had over the last few
(31:30):
years for people to sit back andgo, wow, when this stuff is
broken, yeah, we don't doanything I've been saying.
Terry Esper (31:38):
Lke the financial crisis that we experienced back
in the way of 909, that was oneof the best things that happened
to usSo it'll be interesting to see I
(32:11):
mean we would cross out ourdigits that nothing else really
significant happened under thisexperience the last couple of
years.
But the reality is that we knowthis business.
We've been in it for decades.
Ted Stank (32:20):
Well, the global debt work shift that's going on now
is generational.
Yeah, yeah.
Well, guys, we're wrapping upat our time.
Let's end it by what kind offinal passing advice would you
all provide to youngprofessionals that people want
to enter this field, given yourvantage points?
Tom Nightingale (32:36):
I would say just buckle up your chin strap.
It's gonna be a wild ride.
You know, the best years insupply chain are ahead of us.
The tools are just absolutelytransformational.
The educational system thatsupports their career journey is
amazing, and their opportunityto really make a difference in
the world is enormous.
So you know, brace yourself,it's gonna be awesome.
Terry Esper (32:59):
Yeah, I would say that, regardless of all the
great analytical tools and allthe great models and things we
teach in the classroom as youngprofessionals are starting out,
supply chain is a peoplebusiness.
Right, this is.
It's a people business and thesoft skills of the difference
maker.
We've gotten so sophisticatedwith how we teach supply chain
now all the technology.
It's a new world, it's a newday, but the reality is that
advancement and success in thiscareer trajectory is gonna come
(33:21):
down to people, and so, asyou're preparing all those you
know hard skills, be sure toalso cultivate the soft skills,
because that is what reallymakes a difference.
Thomas Goldsby (33:31):
Man, that also reinforces the network right.
Terry Esper (33:33):
Oh, absolutely.
The constellation is the-.
Thomas Goldsby (33:36):
The constellation how comes back to
the constellation and again therole in which CSMP is-.
Ted Stank (33:42):
And CSMP is Polaris.
Everything broke.
Thomas Goldsby (33:46):
Well for all of our careers right.
Ted Stank (33:48):
Yeah, that's the top of mind.
Thomas Goldsby (33:50):
The undisputed primary driver of our careers,
which is so thankful for.
We're thankful for the two ofyou, gentlemen, for leading the
organization.
You know these are tumultuoustimes to head point it out for
professional organizations, buthey, I'm convinced you all have
the vision, you got the strategy, you got the wherewithal to
make this happen and we're notonly gonna be alone for the ride
(34:11):
, we're gonna be activesupporters, Supporters,
participants in that.
But hey, also it just let'sclose out by again recognizing
Dr.
Ted Stank.
It's been the season of Ted.
I just need to point out that.
You know, not only is he thisyear's Distinguished Service
Award winner, entering theSupply Chain Hall of Fame, but
he was also part of theinaugural class of distinguished
(34:33):
fellows here at CSCMP.
So we had an opportunityyesterday to recognize that
inaugural class, and yourmentors were certainly part of
that as well.
Ted Stank (34:42):
I feel like a distinguished fellow.
Thomas Goldsby (34:44):
Yeah, a distinguished fellow.
Terry Esper (35:00):
When you put in the work, you get the reward.
Thomas Goldsby (35:04):
That's the perfect way to close out the
show, I think.
Put in the work, you get thereward, and so thanks to all of
you out there for listening.
Thank you again, Terry, Tom,congratulations to our friends.
Ted Stank (35:23):
I get the final word, so I've been asked to do a
promotional spot for ourexecutive MBA program.
It's a 12 month program, withfour residency periods of 10
days each.
Three continents North America,Asia, and Europe.
Terry, to your point, I meanthese are generally people that
have been out 15 to 18 years andthe big focus we give them a
(35:46):
lot of supply chain contentevery year.
What they say to get the mostout of it is the leadership
content and the finance contentabout how they link what they're
doing to financial benefit forthe organization.
Thomas Goldsby (35:57):
And the peers right, I mean they're amongst.
Ted Stank (35:59):
Oh, the peer network that they developed, the
constellation they developed.
Thomas Goldsby (36:04):
Hey, not to mention the organizational
action plan that guarantees ROI,right, I mean it pays for
itself in a matter of minutes,practically.
So yeah, I'm glad you got thatspot.
Ted Stank (36:14):
Okay, so with that, that's our promotional site, all
right.
You guys don't have to endorsethat.
Thomas Goldsby (36:22):
And you're all got a new MS SCM Online.
Yeah, we're excited about that.
Terry Esper (36:24):
That's fantastic, absolutely.
Ted Stank (36:26):
All right, you guys, thanks again.
Everybody will see you nextmonth.
Thanks for staying with us.
We'll talk to you soon.
Intro (36:33):
Thanks for tuning in to Tennessee on supply chain
management.
If you enjoyed the episode,subscribe today on your favorite
listening platform to get allof our episodes as soon as they
drop, and don't forget to take amoment to leave us a rating.
Have any questions, thoughts orfeedback?
We'd love to hear from ourlisteners.
Email us at gsci@ utk.
edu.
Join us next time as wecontinue pulling back the
(36:56):
curtain on the world of supplychain, educating and
entertaining you along the way.
Until then, listeners.
Welcome to the Tennessee on Supply Chain Management
podcast.
Listen in as co-hosts Ted Stankand Tom Goldsby set sail into
the world of end-to-end supplychain management, diving deep
into today's most relevantbusiness topics.
They'll share insights andpressing industry issues and
tackle the challenges keepingsupply chain professionals up at
night.
If you're enjoying the ride,download and subscribe to
(00:22):
Tennessee on Supply ChainManagement on your favorite
podcast platform now.
Thomas Goldsby (00:27):
Hello and welcome to another edition of
Tennessee on Supply ChainManagement coming to you from
the Gaylord Resort, beautifulOrlando, florida.
A special edition of thepodcast today For a number of
reasons.
We got a couple of really goodfriends joining us on site here
at the CSCMP Edge Conference.
I've been trying to call it theTED conference for some time.
(00:48):
Why?
Because I very own Dr Ted Stankwas honored this morning.
Ted, you seen anything good inthe last few days since you've
been here?
Ted Stank (00:56):
It's all good.
I love this conference becauseI can't walk 10 feet down the
hall without seeing an oldfriend.
I think it just took us about45 minutes to get here from
where we were before Now it wasa long way.
When you have conferences atthe Gaylord, it's always a long
way.
It was, it was.
Thomas Goldsby (01:13):
It's because you see so many people that you
know, We've been looking forwardto this banner day Showed up in
force from the big orange tosee Dr Ted Stank, our co-host of
the Tennessee on Supply ChainManagement podcast, come across
the stage and I congratulatedyou for that.
You were able to walk out onstage without the cane, without
my cane, offer some greatremarks, very humble remarks.
(01:36):
I'm sure those will land onYouTube here soon.
Encourage folks to go out andsee those and you also walk back
on stage.
Ted Stank (01:43):
I did down steps too.
Beautiful Down steps too.
Thomas Goldsby (01:46):
But what he's referring to is I had my hip
replaced three weeks ago Exactlythree weeks ago today, and it's
the second of two hipreplacements, but meanwhile the
first one went a lot easier,right.
Ted Stank (01:55):
First one yeah, the first one was a PCK.
It went two weeks and I waswalking fine, so I thought this
one would be the same Some of uswere scheduling our heads.
Thomas Goldsby (02:01):
You're scheduling that surgery three
weeks before You're big.
Ted Stank (02:05):
Oh, my bad ass wife likes we have a window of
opportunity.
Thomas Goldsby (02:09):
You're doing it, it's going down.
Well, hey, like I said, we'revery fortunate to have a couple
of good friends.
It feels a little bit like aChristmas Carol, like Christmas
past, present and future.
It's CSCMP past, present andfuture.
If you all, we've got thesitting board chair and Tom
Nagel, who's joined us, and theincoming board chair and Dr
Terry Esper, so we'll get tothem in due order.
(02:31):
But hey, there's been someaction out there in the world
and supply chain Seems as thougha government shutdown is
getting kicked down the road.
I think 45 days from now, 44days maybe will be gnashing
teeth and wringing hands as towhether or not there's going to
be a government shutdown.
Ted Stank (02:46):
Now there'll be some drama before then, supposedly
this week, because severalmembers of the Freedom Caucus
are challenging McCarthy forleadership.
But it'll all work out smoothly, because our government always
works things out completelysmoothly.
Thomas Goldsby (03:00):
Absolutely, Absolutely.
UAW's still on strike.
They seem to be going a littlesofter there.
Ted Stank (03:08):
This week.
Yeah, a little friendlier there, Ford was.
Ford last week, but this weekis Stalantis, but I think they
announced today though 7,000more workers were going on
strike.
Thomas Goldsby (03:15):
Was that right?
Ted Stank (03:15):
OK.
Thomas Goldsby (03:16):
It's kind of that interesting strategy.
Ted Stank (03:18):
That's kind of really a rollout thing.
First time ever that they'vestruck all three US auto
manufacturers at the same time,great.
Usually they'll do one and tryto get an agreement in place and
then use that as the templatefor the other ones.
So yeah, this whole kind ofrolling strike is interesting.
Thomas Goldsby (03:34):
Yeah, it's kind of like bringing this strike to
your supply chain.
It's like they kind ofunderstood this end to end
notion.
And I think where to take themout at the next Like a huge
number of states that thefacilities are into.
So we're keeping tabs on that.
But just to kind of keep thingsmoving.
You, on the way, in said thatyou saw the most recent
logistics manager index, the LMI.
Yeah, and I hadn't seen theRogers and Rogers duo to ask
(03:57):
them yet about what that numbercame out, but you said it's
actually up a take.
Ted Stank (04:00):
Yeah, it came out late last week.
It was 51.6, I think, which isthe first time it's been above
50 in several months.
So, like the purchasingmanagers index, any number above
50 suggests expansion and itwas mostly due to inventory.
Thomas Goldsby (04:14):
Stocking levels are going back up and I don't
know if that's adjusted forseasonality or not.
I mean we're going intoholidays and maybe the feeling
is the inventories were gettingright sized a little bit.
Ted Stank (04:24):
Well, I mean compared to where we'd been with
inventory, where we were wayover stocked and nobody was
buying anything new.
And I think manufacturing ordernumbers are up as well.
It suggests that there is someconfidence that in the holiday
season we're going to move someproduct.
Thomas Goldsby (04:38):
As you know, as I've repeated on multiple
occasions, I have a lot ofconfidence in the American
consumer to step up, even if itmeans buying on credit more.
But I think they're going tostep up.
Ted Stank (04:47):
Where we are, though, is, like, so fragile, so it
does make me wonder if we'd hadthis shut down, how would that
have impacted holidays?
It would have been thestrongest.
I was mainly worried about howI was going to get here and home
.
Thomas Goldsby (05:01):
It's like, ok, flying down to Orlando might be
fine, but heading back, we mightbe renting a bus to get back to
.
Ted Stank (05:07):
Rocky Top.
I was the academic geekyesterday at the airport making
jokes with the TSA folks Like,hey, you're going to be able to
buy dinner tonight, aren't you?
Most of them laughed about it acouple of months ago.
Thomas Goldsby (05:19):
Shut up.
This is your week, Ted.
You can just with anybody youwant.
Ted Stank (05:24):
I'm not sure they knew that.
Thomas Goldsby (05:25):
Probably not, hey.
So LMI, kind of a high watermark on the way back.
Speaking of high water, or Iguess low water.
Low water in the case of theMississippi right.
I know you've been monitoringthat situation.
Also, the Panama Canal'ssailing schedules were affected.
Ted Stank (05:40):
You know, it's really big for the Mississippi this
time of year too, because somany of our agricultural
products move down theMississippi on barge.
And they're saying some areasof the Mississippi are like at
two feet and so it's reallylimiting in terms of what kinds
of traffic we can move on barge,which means you're going to
have to look to alternativeslike rail, which means that
what's that?
Due to rail capacity fortypical products that move on
(06:02):
rail, it just has that cascadingeffect.
The Panama Canal is at all timelows, so they're really
restricting the size of shipsthat can move through and the
number that can move through.
So interesting things to keepan eye on, with not typical
things that we track but have abig impact on what we do in the
supply chain.
Thomas Goldsby (06:21):
Something that we do track and track closely.
Fuel prices heading upward,looking at $4 fuel and diesel
higher than that something thatI track.
Ted Stank (06:31):
I read a lot of different news because I feel
like Josh King, our forummanager and our collaborative
manager.
He mentioned last night that Isaid one time that supply chains
are about constellations and Ithink the idea there is we're
just so interconnected toeverything.
I was really interested in theannouncement a week or so ago
about the agreement with Iran torelease the hostages and the $6
(06:54):
billion that had been keptlocked down from them and frozen
, and I was looking for what wasthe real benefit there.
And it was a really smallannouncement that Iran announced
shortly after that agreementthat they're going to start
increasing their oil output andI'd be willing to bet that if we
were sitting at thatnegotiating table, that that was
(07:16):
the trade-off.
It's like, hey, iran, we needyou to start kicking up on oil
because the Saudis and theRussians are not, you know, and
cutting back, so maybe that willimpact that oil price.
But speculation of diesel goingabove well, not diesel Diesel's
already above $4.
But just regular gas goingabove $4.
Thomas Goldsby (07:34):
Yeah, and then you just say I mean again these
things that could be straws onthe camel's back right.
And we just kind of teeteredand continued to deal with the
uncertainty.
Ted Stank (07:43):
Maybe we're all just getting immune to the news.
It's just like we're just goingto keep just living and
forgetting about it, comfortablynumb, do you think?
There's some times when I readthe news and thought if I didn't
have the job I had, I wouldjust shut it all down.
I think you know, and just livein La La Land, immune to
everything out there.
Thomas Goldsby (07:58):
Yeah, Now there's some bliss, maybe in
ignorance, but hey, we can't bewholly ignorant.
Ted Stank (08:04):
We wouldn't be able to do podcasts.
Thomas Goldsby (08:05):
We wouldn't be able to do podcasts and you
wouldn't be able to come up withanalogies around constellations
and then drawing thoseanalogies to other cool things
and applications.
You know, coming to CSCMP iskind of that constellation too,
right?
I mean just in terms of, likeyou said, walking down the hall,
you can't walk.
Well, you can't walk, but withthe aid of a cane you're walking
a little bit, you get a coupleof steps and you're running into
(08:27):
someone that you've known andwe had a great gathering last
night to celebrate Ted.
It was a toast and a roast andyou took it well, my friend.
Ted Stank (08:37):
Oh, you guys are pretty easy on the toast.
Thomas Goldsby (08:39):
Well, you don't know what we have in store for
you tonight, Anyway, so to buildup your strength.
It's just been great to be backhere.
I haven't missed one of thesesince 1995.
Ted Stank (08:49):
I've got a pretty good streak going, I think I had
29 in a row at one point andthen we changed the timing.
Thomas Goldsby (08:55):
You can go to Europe.
Yeah, I was in Europe with ourexecutive MBAs.
But a couple of dear friendsthat we count on running into.
Not only running into, butwe're looking to them for
leadership.
Now, in these tumultuous times,the current board chair, Tom
Nightingale, and the incomingboard chair, effective.
What is it the stroke ofmidnight on the here seat, Terry
(09:18):
, when you take over?
Tom Nightingale (09:19):
Dr Terry, One thing, one thing right.
No, it's officially December.
Oh right, officially.
Ted Stank (09:24):
When is the members vote meeting?
Yeah, that's Tuesday.
Terry Esper (09:28):
Tuesday afternoon.
Ted Stank (09:29):
Yeah, yeah, that's when we count on the official
Right.
Terry Esper (09:31):
You know, are we pre-presumptuous here, yeah,
right, right.
Tom Nightingale (09:34):
Oh, my goodness , I didn't realize that could be
too sad.
Thomas Goldsby (09:37):
I mean, you know , speaker McCarthy, I want some.
Terry Esper (09:41):
Right, exactly right.
Some man gates might jump upand say hey.
I don't know.
Thomas Goldsby (09:46):
So, guys, we can edit this if we need to, if
Esper's not in fact in theaudience.
Ted Stank (09:50):
Yeah, we'll get the next vote.
Thomas Goldsby (09:51):
We've never had to edit a podcast before it just
runs, but if we really have to.
But, tom, welcome Terry,welcome, great to have you on
the podcast.
I've been looking forward tothis and again, you're both very
distinguished in your own rightand we really appreciate what
you bring to our discipline andCSMP in particular, and we're
kind of just kind of maybehoping to get a little bit of
(10:13):
background.
Not everyone in the logisticssupply chain world even some
folks outside the logisticssupply chain world listen to the
podcast.
Tom Nightingale gives a littlebackground who you are and what
brings you here.
Tom Nightingale (10:24):
So in the day job I run a company called ASF
Logistics.
We focus on four things we area very large LTL, very large
parcel and very large freightauto and payment provider.
And then we are a small tomid-sized transportation
management provider.
Been a part of CSMP now forprobably about 25, 27 years in
(10:45):
total and I would say thatactive on the board level
probably for about eight yearsand delayed to have had the
opportunity to serve over thecourse of the past year and
hopefully to leave Terry all myproblems.
Thomas Goldsby (11:00):
Broad shoulders Terry, taking on Dr.
Terry Esper.
Hey man, what brings ?
Terry Esper (11:05):
Well, I don't know, man, it's been a long and crazy
, winding road to get here, soI'm like you guys like you
talked about being an academicnerd and geeking out.
But yeah, I'm an educator.
Right, I'm on the front line ofthe talent pipeline and supply
chain and professor at the OhioState University.
You know, I've got to put theemphasis on that.
Ted Stank (11:22):
Legally right.
Legally right it's fake.
Oh yes, Isn't that legally?
It is legally, yes, yes, yes,that's the whole story behind
that.
Terry Esper (11:30):
But, getting here again, I'm a professor at Ohio
State, but I also spent my timeat other big schools, including
Big Orange, right.
Ted Stank (11:37):
So Ted and I actually joined the faculty there Ted's
got some big orange.
Yeah, 10 years.
Terry Esper (11:41):
We ran together for 10 years there at Ohio State.
I went back to my alma mater,arkansas, for about five years
and I'm at Ohio State.
I actually got here through,you know.
In between all of that, youknow CSCMP was a big part of my
career actually started.
I think my very first CSCMP was96 as a graduate student and
pretty much almost had a fullstreak until I remembered there
(12:03):
were a couple of years thereearly in my career when I wasn't
high up enough to actuallytravel.
So I had a way excited.
Ted Stank (12:09):
Didn't make a traveling team, didn't make a
traveling team.
But ever since I made thetraveling team, then, when you
were at Hallmark.
Terry Esper (12:14):
That was at Hallmark, yeah, and.
But ever since then I've been apart of CSCMP consistently,
never missed one.
Thomas Goldsby (12:19):
You know, speaking of Terry being at UT, I
remember I was on the facultyof Kentucky back in the late
2000s.
I already know this, I alreadyknow what we're doing and I'm
watching SEC football.
Yes, terry Esper's beautifulmug on the face.
He's the face of the Universityof Tennessee.
Intro (12:35):
Oh yeah, I was.
Ted Stank (12:36):
So go back.
Thomas Goldsby (12:36):
That's probably in the YouTube reel somewhere.
Ted Stank (12:38):
Yeah, and speaking of which, you know the promo
commercial that every big schoolhas every year for football
games.
Supply chain management ismentioned in Tennessee's
promotion.
Terry Esper (12:52):
Yeah, and you know what, when it first aired, I was
in a bar because the weathergot bad.
I was at an airport bar, not inthe airport, but the hotel
right outside of an airport andeverybody's watching the game
and I'm like, hey, that was justme, I had never seen the
commercial before and somebody'slike man, that wasn't you.
Ted Stank (13:09):
I'm like, no, that was just me, I was just on TV
and, yeah, you drink for you therest of the night.
Terry Esper (13:14):
Well, no, I wasn't.
I wasn't that famous as was all.
Nobody really believed it.
It happened so fast.
That's the part.
Ted Stank (13:22):
If you get, on X or TikTok and ask Taylor Swift for
a date, you might be able to getto that level.
Anything.
The next Travis Jones?
Get to that next level.
Hey, Tom, big issue.
Speaking about being on thefront lines, the kind of
business that you're in isliterally on the front lines.
We talk a lot aboutmanufacturers and retailers Huge
part of our economy but nothinghappens.
(13:43):
Nobody buys if we can't movethe stuff to where people need
it.
What are the trends are youseeing out there in terms of
where we are now and lookinginto the next few months,
particularly as we head into theholiday buying season?
What kind of things are youseeing out there?
Tom Nightingale (13:57):
Yeah.
So we have a unique vantagepoint on the industry because we
audit and pay about $11 billionof freight across all modes.
We've got a pretty amazingsample of data to pull from and
we do produce a freight indexthat's forward looking as well,
and it really varies by mode.
It's not the same story acrossevery mode.
Truckload has started to bumpup.
(14:18):
The bottom called that veryearly about a quarter ago.
It's not inflected yet, but ifI had to guess and we don't
officially predict out past thequarter I think after we get
through Chinese New Year, ifenough inventory bleeds off and
there isn't too much consumerdemand destruction, truckload
should start to definitivelyinflect.
Now, it's not going to be amassive ski slope going back up,
(14:41):
but it will be solid growth atleast yeah, growth, and not just
bumping.
This bottom Parcel is weak,parcel is very weak.
We audit and pay about $4billion worth of parcel and
we've seen much more aggressivepricing coming out of the parcel
carriers because they need tofill their networks and they're
all juggling their networks UPS,obviously in their case, to try
(15:04):
to offset labor cost and laborincreases.
Fedex, as they continue to tryto readjust their operations
from disparate operations intoan integrated operation.
And then LCL got really crazy,going from a declining market to
all of a sudden really justsolidifying because of the
yellow bankruptcy.
Freight got moved and thecapacity got absorbed, which was
(15:25):
good, but it definitelystiffened up pricing and I think
it will stay that way probablyfor another three months or so.
And assuming that demandcontinues to fall gradually in
the manufacturing sector, then Ithink LTA will be right back to
where it was pre-yellowbankruptcy, which was falling at
about a 3% to 4% quarter overquarter level.
So it's a different story bymode.
(15:46):
We don't predict ocean, we justdon't have a large enough
sample size there.
But it's been interesting towatch the market ebb and flow
and particularly if you matchthat up against our revenue
model, it creates a lot ofgyrations in our business.
Thomas Goldsby (15:59):
It was very curious when you have one of the
big three LTL carriers closedits doors and I mean it was.
It was that risk for a longlong time.
Right saw it coming butmeanwhile in terms of absorbing
it, so you're saying that theLTO industry largely was able to
kind of absorb that and yeah,moving.
Ted Stank (16:15):
Yeah, it's probably helpful that it happened in a
somewhat of a declining market.
Yeah, absolutely Good point.
Tom Nightingale (16:20):
There was enough capacity out there and
freight got moved.
It didn't necessarily find hisrightful home.
Hmm, you know, somebody thatwas using yellow is probably not
going to be happy with thepricing they have from somebody
like, say, Old Dominion, andyou'll see that reset over the
next probably six to nine monthsas contracts normalize again.
But at least freight didn't getstuck, it didn't get stranded,
(16:41):
wasn't waiting on docks otherthan a handful of yellow
facilities where they just kindof stopped working when the news
started to get ugly and we did,we did a lot of kind of Saving
of loads that were stranded outthere.
But other than that theindustry handled it in good form
.
Thomas Goldsby (16:56):
Dr.
Esper, you pontificateroutinely in front of students,
your research leading scholar inour field.
Conduct a lot of talks.
What are the things you'rewitnessing?
What's on your mind in thissupply chain world?
Terry Esper (17:09):
Yeah, I guess just kind of picking up on this
narrative.
You know, I find it interestingthat we talk about what
happened with Yellow, theresilience of our industry.
I know that over the lastcouple of years it seemed like
doomsday.
Right, when you think about thecrisis and you know nowadays,
like everybody's like, hey,what's going on in the supply
chain space?
Right, people who never evenknew what supply chain
management was are all concernedthere right now, and and
(17:32):
rightly so.
Right, because we've had a lotof press about a lot of issues
that we've kind of contend with.
But you know what I'm actuallyjust amazed by when I think
about all that we've gonethrough, and even this most
recent situation with Yellow,even the conversations that we
were having, as we were, youknow, preparing for what could
have been a UPS strike.
It's just how resilient we arein supply chain.
That's, that's the business.
I mean, that's what we do, andI've had to kind of share that a
(17:53):
few times.
Like you know, we've had crisesbefore and you probably didn't
know about it because we've beenso good at trying to it, at
navigating around it and throughit.
Yeah, but the reality is thatthat's the business we're in the
supply chain, right.
I mean, it's a it's a rollercoaster ride in this business
and you know We've had our shareof ups and downs over the years
, you know, I think now they'remore pronounced because they're
more eyeballs, more visibilityto what we're doing in supply
(18:15):
chain.
It's always nice to kind of,after we get through these
issues, to kind of step back andlook at kind of where a Yellow
situation Is in the grand schemeof all the different issues
that we've had to continue withover the years, right, and so
I'm always just thinking about,just at industry level and in
the supply chain community, howwe've been able to, just as you
(18:35):
say, and flow.
As you know, the environmentchanges all the stuff you guys
just talked about.
I mean, you know it's, it's anup and down for us and that's
just kind of the the businessthat we're in.
And having said that, you know,another thing that I'm just
really watching and thinkingabout is just how the increased
visibility that we have as acommunity Is starting to shift
and shape our work, ourdiscipline, right.
(18:57):
You guys are seeing it at UT,like you said, you guys are on
the commercial, more peopleconcerned about what's going on
in supply chain.
Ted Stank (19:04):
Yeah, I always say that prior, prior to the
pandemic, nobody knew whatsupply chain management was.
Now they still don't know whatit is, but they've heard the
term.
Tom Nightingale (19:12):
Yeah.
Thomas Goldsby (19:17):
Yeah, I think we've got kind of a
responsibility as well to kindof seize and stretch that moment
, if you will, right, right, andwe're making movement.
We looked at leadingprofessional organization, cscmp
, to kind of stretch that moment, make it, make it a movement.
So tell us, tom, about whatyou've been undertaking during
your time as board chair andsome of the big initiatives here
at CSCMP to make it a movement.
Tom Nightingale (19:38):
You know, as board chair you really have a
pretty limited window to try toaffect change.
So you kind of have to pickyour balance.
And thankfully, you know, after60 years of this, CSCMP is
really good at a lot of thingsand the things that that we're
really good at, I kind of didn'tmess with them at all.
The two areas that I focused onMost heavily during my tenure
were the one that's under thewarline, which is just creating
(20:02):
better accountability, bettervisibility, better transparency
for the board and management toensure that we're aligned, so
not the kind of thing a memberwould necessarily see or
experience, but what they seeand experience is the fact that
we continue to get better andbetter at a faster and faster
pace.
The second area is go to market.
So we made a lot of goodstrides and there are go to
(20:22):
market strategy because, despitethe general awareness of the
world now about supply chain,the awareness of CSCMP is not
where it needs to be.
The amount of value that wecreate for our members, the
amount of knowledge that webring to the table, the amount
of opportunity that we createisn't as known as it should be,
(20:43):
and we've had a great history oftrying to tackle individualized
items.
You know a digital strategy ora member experience or a
conference experience but we'venever really looked at that as a
comprehensive go to marketstrategy and really trying to
focus in on our markets, ourcustomers, our channels and our
product and value proposition.
So Elijah's been leading thatand doing a nice job with it,
(21:06):
got a long way to go with it.
Still, it's a massive project.
If Terry decides to keep itgoing in his reign of terror
then yeah, we're really just inthat top of the first inning
right now.
Long, long way to go.
But it's the right thing to dofor our members, because the
more members we can bring in,the more content we create and
(21:26):
it becomes a really virtuouscycle for everybody.
My understanding is thatcorporate memberships are
growing.
Ted Stank (21:31):
Yeah, I think so, like a wheel.
I mean, a huge difference fromwhen I was sitting in you guys
chairs was we still werepredominantly an individual
membership, and I think it'sinteresting to talk more with
you guys about the changingnature of professional
organizations and the fact thatit is more corporate.
University of Tennessee is acorporate member, so what's your
(21:52):
perspective on that?
Tom Nightingale (21:54):
I think it's a big deal, because I think that
corporations recognize the factthat they want to attract the
best talent and that the besttalent wants to continue to grow
after they get out ofuniversity.
It's not to say thatuniversities are failing.
It's not to say that they'recoming up short.
It's to say that there is anongoing need for professional
development and thisgeneration's coming up now looks
(22:17):
at this as part of thecorporation's responsibility to
them to continue to grow, andthe corporations look to them as
part of their responsibility,as a good employer or teammate,
to improve their skill set andtheir network so they can become
better.
So I think it's actually you'reseeing, kind of the marketplace
(22:37):
speaking, and the fact thatcorporate memberships are
growing so well, yeah, so it is.
Terry Esper (22:42):
It's just next step in that talent pipeline, yeah,
but I think it also raises achallenge, because now we have
to be a little bit more heavyhanded and a little bit more
intentional and strategic aboutensuring engagement right,
because if you're a part of acorporate membership, you could
technically become a member ofthe organization by reason of
your corporation becoming amember and you might not
necessarily lean into themembership right.
(23:04):
That's one of the differencesbetween those individual members
that they were signing up,right if you're paying at a park
, at pocket.
Yeah, they were signing up andthey were engaged right.
But if you are kind of a partof an umbrella of membership,
you may lean into all thebenefits and all the resources
that we have.
You might just kind of touchthe edges a bit.
So we have to be moreintentional and focused on how
do we ensure that we're bringingthose corporate members into
(23:26):
the organization.
Ted Stank (23:27):
So that whole awareness thing, you know, is
really good.
Yeah, absolutely.
I gotta admit I'm somewhatunaware of all the different
things that I can engage.
Certainly, this conference,everything there's a biggie
right, but so many other thingsthat you can avail yourself of.
Terry Esper (23:41):
And I think that's where the you know.
So, one of the things thatwe'll be really focusing on in
2024, I mean we did it in 23 andI wanna keep this going in 24,
is the local round table, thelocal chapters, right.
I mean, how do you take a nineto 10,000 member organization
and make it feel like you belong?
It's gonna be at the locallevel, right.
I mean we come together everyyear at the conference, but the
reality is that the local roundtables that's where the rubber
(24:05):
meets the rubber.
Ted Stank (24:06):
That's where the life goes.
How ?
Tom Nightingale (24:08):
Well, we're north of 50 at this point, and
it grew a lot last year.
Membership overall grew 21% andthe number of events grew 39%.
Ted Stank (24:19):
Yeah, I saw that in your presentation.
Tom Nightingale (24:21):
Yeah, and Terry's 100% right.
This is conference is amazingand maybe that hasn't been
should come, but it's a once ayear event and you need that
continuity, you need thatrecency, that frequency, and
round tables are that localtouch point.
They're super powerful.
Ted Stank (24:38):
I mean, that's how I got involved with it.
Tom Nightingale (24:39):
Yeah, me too.
MostYeah, me too.
The Albany, New York roundtable.
Terry Esper (24:43):
I was at Atlanta, Kansas City, Hartland
Tom Nightingale (24:49):
Yeah, as a doctoral student.
Thomas Goldsby (24:51):
Yeah, and the round tables are really where
the action is those other 51weeks of the year.
It's where you connect withyour community and just some
tremendous things.
Of course, columbus has atremendous one, right.
I think about how supportivethey are of the community and
also, I'd just say, our studentchapter on campus as well.
Right, we think about thestudent chapters and it's just a
robust group and it's great tosee our students here.
(25:13):
Yeah, it is, it really is.
Ted Stank (25:15):
Getting them here, I think, is a big way to get them
jazzed about it, because atleast when I was on the board,
one of the big challenges we hadwas we had a pretty robust
student participation in CSCMPthrough student memberships and
then they would get out workingand they would disappear and we
couldn't find them.
So how do you keep them sticky?
Terry Esper (25:34):
As an educator coming in the board chair role,
I mean, that's something I'mpassionate about and I feel like
we've got someone who's ineducation.
We might as well lean into thata bit.
That's something that's on mymind, right.
How do we continue thatpipeline of membership and how
do we not have that tapering off?
And then they find their wayback some years later, once
their corporation becomes amember, or once they say hey,
let me be individual.
Ted Stank (25:53):
Or is that right?
Like you said, your firstcouple years with Walmart?
Yeah, but I wasn't above thebar, right.
Terry Esper (25:59):
So we're thinking about that how do we enhance
that connectivity between thestudent CSCMP experience, the YP
experience, and how do wereally nail that?
Ted Stank (26:07):
And the students are clearly involved to get a job.
There's great content when theygo to their meetings and stuff,
but they're mainly there to getpizza and talk to Tom.
Nightingale when he comes totalk to the round table because
he might give him a job right.
Tom Nightingale (26:21):
I was giving a bunch of your guys a hard time
the other day because they wereall corralled into one circle.
I walked up behind him I saidhey guys, let me give you a pro
tip.
Don't talk to each other.
Ted Stank (26:30):
Don't talk to old people like me.
Yeah, right, right.
There are a lot of us walkingaround here.
That dude doesn't have a job.
Yeah, that's right.
Thomas Goldsby (26:37):
Again at the universities we get excited
about the future.
But I'm just curious about Tomyou almost kind of described
with regard to freight kind ofbody mount heading up.
Sometimes we use the term buka.
It's a highly volatileuncertainty.
Ted Stank (26:50):
Can you say that on a podcast?
Thomas Goldsby (26:55):
V-U-C-A
ambiguous future.
But meanwhile, what are thethings that excite you, as it
might relate to the field, ouropportunities, as well as the
organization.
Tom Nightingale (27:08):
Tom, I'm going to leave you.
I would say that we touched onthis earlier and that the world
does know what we do now, muchmore so than they did before.
There's still some ambiguityabout it.
You know, supply chain includeprocurement, does it include
demand planning?
All these things that maybepeople don't think about because
they think about the truck onthe road.
But I think the overallawareness is really exciting.
(27:30):
I think the level of educationthat's available now, both in
university settings and outsideof university settings, is
amazing.
You know, our SC Pro going onto LinkedIn Learning has been, I
mean, 7,000 people.
Now he said that the smallerstarted.
Yeah, it's a tremendous SC Proclass on LinkedIn Learning.
(27:51):
That's amazing reach for us asan organization and it's
indicative of the hunger that'sout there because now there's
awareness.
I mean I think about when I wasgoing into undergrad nobody
ever, ever, ever talked aboutgetting a degree in supply chain
management.
Ted Stank (28:04):
What was your undergrad degree?
Mine was in marketing.
Tom Nightingale (28:07):
Marketing and management, and international
business.
Ted Stank (28:10):
Mine was mechanical engineering and political
science.
Thomas Goldsby (28:14):
Econ finance.
Tom Nightingale (28:15):
Yeah, I mean, it's just so none of us started
people of a certain era, certaingeneration.
It just wasn't really even anoption.
Ted Stank (28:21):
And there's so many great options now and we're
graduating 430 north of a yearin supply chain and it's just
staggering, yeah.
Terry Esper (28:30):
Oh man, we're much smaller than that.
I'd say we're more close towell, what about across the two
departments?
Oh yeah, I mean we'redefinitely in the low hundreds.
But yeah, across the two, right, but again, it's still just
indicative of-.
Ted Stank (28:42):
Yeah, so to your point, Tom, there's a lot more
people coming out with at leastsome basic knowledge.
Tom Nightingale (28:48):
Absolutely, and there's so many good options.
And then you know, CSCMPcontinues to fill that role of
proliferating that knowledge out, even at the we're talking high
school levels now in some cases.
Yeah, it's great, and I thinkthat that level of awareness,
that level of optionality interms of education, and then the
emerging set of tools that areout now, it's a lot sexier of a
(29:09):
business than it used to be Imean when we were doing this on
Green Bar and, yeah, it wasn'tfun.
But now all of a sudden we'vegot really interesting tools
that are getting younger peopleexcited about the business and
they're seeing it as a careerpath into the CEO role.
Absolutely, yeah, that's whereyou're at.
Terry Esper (29:27):
Yeah, if I could just add to that.
I think you're spot on, tom,and I think you know.
What's interesting to me, toois that, you know, I guess in my
limited thinking of CSCMP, it'sthe gathering of supply chain
people, right?
But what I find perhaps moreintriguing about these 7,000
folks that are on LinkedIn,learning and even what we're
seeing in terms of, you know,attendance and little looks and
(29:48):
crannies of, like, interestingpockets of attendees at the
conference, now, these are notsupply chain people.
These are people who own salesfinance, who feel the need to
understand what's happening insupply chain, right.
So it's interesting becauseit's not just about, you know,
reinforcing the talent that's insupply chain.
It's hard to hear.
Yeah, it's not someone who maynever take a job in supply chain
, but they feel the need tounderstand what's happening in
(30:09):
supply chain in order to dotheir job better in finance or
in sales.
Ted Stank (30:13):
Well, you know, organizationally that's been a
battle we've been fighting fordecades right.
It's better recognition of thevalue we bring to the
organization, and thatrecognition is huge.
Thomas Goldsby (30:23):
Well, I went into the opening day of the
intro to supply chain managementclass, an alumni auditorium on
campus probably taught in there.
You know 500 students and youknow a smattering of them have
declared supply chain as a majorcongratulations.
Maybe they got it figured out,but I went in with the message
saying most of you in here willwork some shape or form in
(30:45):
supply chain.
You just don't know it.
I think all of us around thistable would have been in that
camp you know, some years ago,right?
Terry Esper (30:52):
Yeah, all our majors, right.
Thomas Goldsby (30:53):
It finds us but to the extent that we can find
them right, and I think that's areally important thing.
You know, we have this platform, we have this opportunity.
It's largely impressive, in thetime we've been in the field,
to kind of take supply chain tothem whether they're ready for
it or not.
Ted Stank (31:07):
So to the extent that we can make them ready for it,
Well, we've always said supplychain is kind of a perspective
on managing a business and Ithink that perspective is
starting to get more accepted,particularly given the
disruptions.
Terry, you said earlier thatall these things disruptions
have been going on forever butnobody really recognized it.
It took like a major disruptionthat we had over the last few
(31:30):
years for people to sit back andgo, wow, when this stuff is
broken, yeah, we don't doanything I've been saying.
Terry Esper (31:38):
Lke the financial crisis that we experienced back
in the way of 909, that was oneof the best things that happened
to usSo it'll be interesting to see I
(32:11):
mean we would cross out ourdigits that nothing else really
significant happened under thisexperience the last couple of
years.
But the reality is that we knowthis business.
We've been in it for decades.
Ted Stank (32:20):
Well, the global debt work shift that's going on now
is generational.
Yeah, yeah.
Well, guys, we're wrapping upat our time.
Let's end it by what kind offinal passing advice would you
all provide to youngprofessionals that people want
to enter this field, given yourvantage points?
Tom Nightingale (32:36):
I would say just buckle up your chin strap.
It's gonna be a wild ride.
You know, the best years insupply chain are ahead of us.
The tools are just absolutelytransformational.
The educational system thatsupports their career journey is
amazing, and their opportunityto really make a difference in
the world is enormous.
So you know, brace yourself,it's gonna be awesome.
Terry Esper (32:59):
Yeah, I would say that, regardless of all the
great analytical tools and allthe great models and things we
teach in the classroom as youngprofessionals are starting out,
supply chain is a peoplebusiness.
Right, this is.
It's a people business and thesoft skills of the difference
maker.
We've gotten so sophisticatedwith how we teach supply chain
now all the technology.
It's a new world, it's a newday, but the reality is that
advancement and success in thiscareer trajectory is gonna come
(33:21):
down to people, and so, asyou're preparing all those you
know hard skills, be sure toalso cultivate the soft skills,
because that is what reallymakes a difference.
Thomas Goldsby (33:31):
Man, that also reinforces the network right.
Terry Esper (33:33):
Oh, absolutely.
The constellation is the-.
Thomas Goldsby (33:36):
The constellation how comes back to
the constellation and again therole in which CSMP is-.
Ted Stank (33:42):
And CSMP is Polaris.
Everything broke.
Thomas Goldsby (33:46):
Well for all of our careers right.
Ted Stank (33:48):
Yeah, that's the top of mind.
Thomas Goldsby (33:50):
The undisputed primary driver of our careers,
which is so thankful for.
We're thankful for the two ofyou, gentlemen, for leading the
organization.
You know these are tumultuoustimes to head point it out for
professional organizations, buthey, I'm convinced you all have
the vision, you got the strategy, you got the wherewithal to
make this happen and we're notonly gonna be alone for the ride
(34:11):
, we're gonna be activesupporters, Supporters,
participants in that.
But hey, also it just let'sclose out by again recognizing
Dr.
Ted Stank.
It's been the season of Ted.
I just need to point out that.
You know, not only is he thisyear's Distinguished Service
Award winner, entering theSupply Chain Hall of Fame, but
he was also part of theinaugural class of distinguished
(34:33):
fellows here at CSCMP.
So we had an opportunityyesterday to recognize that
inaugural class, and yourmentors were certainly part of
that as well.
Ted Stank (34:42):
I feel like a distinguished fellow.
Thomas Goldsby (34:44):
Yeah, a distinguished fellow.
Terry Esper (35:00):
When you put in the work, you get the reward.
Thomas Goldsby (35:04):
That's the perfect way to close out the
show, I think.
Put in the work, you get thereward, and so thanks to all of
you out there for listening.
Thank you again, Terry, Tom,congratulations to our friends.
Ted Stank (35:23):
I get the final word, so I've been asked to do a
promotional spot for ourexecutive MBA program.
It's a 12 month program, withfour residency periods of 10
days each.
Three continents North America,Asia, and Europe.
Terry, to your point, I meanthese are generally people that
have been out 15 to 18 years andthe big focus we give them a
(35:46):
lot of supply chain contentevery year.
What they say to get the mostout of it is the leadership
content and the finance contentabout how they link what they're
doing to financial benefit forthe organization.
Thomas Goldsby (35:57):
And the peers right, I mean they're amongst.
Ted Stank (35:59):
Oh, the peer network that they developed, the
constellation they developed.
Thomas Goldsby (36:04):
Hey, not to mention the organizational
action plan that guarantees ROI,right, I mean it pays for
itself in a matter of minutes,practically.
So yeah, I'm glad you got thatspot.
Ted Stank (36:14):
Okay, so with that, that's our promotional site, all
right.
You guys don't have to endorsethat.
Thomas Goldsby (36:22):
And you're all got a new MS SCM Online.
Yeah, we're excited about that.
Terry Esper (36:24):
That's fantastic, absolutely.
Ted Stank (36:26):
All right, you guys, thanks again.
Everybody will see you nextmonth.
Thanks for staying with us.
We'll talk to you soon.
Intro (36:33):
Thanks for tuning in to Tennessee on supply chain
management.
If you enjoyed the episode,subscribe today on your favorite
listening platform to get allof our episodes as soon as they
drop, and don't forget to take amoment to leave us a rating.
Have any questions, thoughts orfeedback?
We'd love to hear from ourlisteners.
Email us at gsci@ utk.
edu.
Join us next time as wecontinue pulling back the
(36:56):
curtain on the world of supplychain, educating and
entertaining you along the way.
Until then, listeners.
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