Around the world, companies are struggling to keep pace with evolving skill demands while facing difficulties in upskilling their workforce and sourcing new talent. The supply chain industry—particularly manufacturing—is experiencing an acute talent crisis driven by an aging workforce, fast-paced technological advancements, and a lack of interest among younger generations in factory jobs. According to Deloitte, the manufacturing sector will require 3.8 million additional workers between 2024 and 2033, with up to 2.1 million jobs potentially remaining unfilled by 2030.
Despite a strong emphasis on innovation, many organizations overlook the importance of retaining and upskilling their existing workforce. This talent shortage has significant economic implications, with a Korn Ferry report predicting a global shortfall of 85 million workers by 2030—potentially leading to an $8.5 trillion loss in economic opportunity.