When it comes to making a career in supply chain management, you have the option to work with food, furniture and many other industries in future. But entering this field is not a simple task. Managing the flow of materials from source to final product requires a lot of knowledge, skill and experience. The job may not bring in a hefty paycheck but it provides development opportunities.
What Does Supply Chain Management Mean?
The process of supply chain management involves planning, organising and overseeing the flow of products, information, and funds between suppliers, manufacturers, wholesalers, retailers, and consumers. It entails coordinating and integrating these processes to guarantee that goods are produced and supplied as effectively and economically as possible.
Several tasks are included in supply chain management, such as locating raw materials and components, controlling inventory levels, organising logistics, and managing interactions with suppliers and clients. Additionally, it addresses the movement of data and money along the entire supply chain, including keeping track of orders and payments. Additionally, it assures that all individuals get access to the data they require to make rational decisions.
A business can increase efficiency, save expenses, and improve customer satisfaction through effective supply chain management. Moreover, it can make a company more adaptable to shifting market dynamics, client demand, and supply chain interruptions.
What is a Supply Chain Manager?
A supply chain manager directs and organises the processes associated with moving products, data, and money throughout a supply chain. This includes arranging for the manufacturing of items and their delivery, managing interactions with suppliers and clients, and managing logistics.
A supply chain manager can choose and identify suppliers, negotiate contracts, and control inventory levels. They could also be involved in setting up and managing carriers, keeping an eye on delivery schedules, and ensuring that things are delivered promptly and in good condition.
A supply chain manager may oversee the flow of information and money along the supply chain and control physical movements and logistics. This can entail keeping track of orders, collecting payments, and ensuring everyone has the data they need to make wise choices.
Any organisation’s success depends on efficient supply chain management, and to ensure that, supply chain managers are crucial. They make sure that items are produced and distributed efficiently and economically.
5 Reasons to Study Supply Chain Management
1. Improved Efficiency
Finding methods to streamline procedures and boost productivity within a global network of suppliers, producers, warehouses, and distribution hubs is the goal of supply chain management. This frequently necessitates locating and resolving complex supply chain issues. A supply chain manager can figure out how to shorten lead times, increase delivery accuracy, or lower inventory levels, for instance.
Supply chain experts are able to assess data, create and evaluate choices, and make decisions that consider the trade-offs and restrictions present to handle these difficulties. These are important problem-solving abilities that may be used to address various commercial and organisational issues, both inside and outside the supply chain industry.
2. Post-Covid Shift in Supply Chain
Global supply chains were proven by COVID-19 to be extremely strained and exposed to disruptions, with each break affecting the entire economy. Logistics in a post-COVID future will prioritise cutting supply chains and ensuring that items are transported across endpoints more quickly to foster higher resilience.
Due to the lack of suppliers during the pandemic, businesses were obliged to hunt for local supply chains to supplement shipments from abroad. In a post-COVID scenario, logistics players will encourage their current local suppliers to accept bigger volumes across various product lines. Thus creating a sudden boom in the logistics industry with rapid growth in the upcoming years.
3. Career Opportunities
Businesses of all sizes and in all sectors need to manage their supply chains effectively because it saves costs, boosts productivity, and enhances their overall ability to compete. Consequently, there is a great need for specialists in supply chain management.
Logistics, purchasing, and operations management are among the top career options in supply chain management. These experts control the movement of products, services, and information along a supply chain and ensure that they are delivered on time and efficiently. Studying supply chain management can equip you with the abilities and information necessary to be successful in a range of positions within the industry, helping you prepare for a career in one of these fields.
4. Government Role
Government and public sector organisations are utilising supply chain management to their total capacity to provide value to the public more effectively and efficiently. Mission-ready firms ensure that operations and supply chain management techniques are set up for success, installing various storage facilities across the nation, enabling them to thrive today and in the future to remain resilient in times of change.
5. Interdisciplinary Skills
It takes a combination of technical, business, and analytical abilities to study supply chain management. Knowledge of logistics, transportation, and distribution systems, as well as an awareness of supply chain software and tools, are some of the technical skills acquired during the process.
Negotiating contracts with suppliers, managing stakeholder relationships and analysing data to find the scope for improvement are all crucial business skills that may be developed while studying supply chain management. The study of supply chain management can help students acquire vital analytical skills such as problem-solving, data interpretation and analysis, and data-driven decision-making.
Supply Chain Management Jobs
There are many rewarding job opportunities available in the field of supply chain management.
1. Logistics Coordinator
This job involves organising the transportation of materials and goods, which includes choosing carriers, keeping track of delivery windows, and making sure that goods are delivered on time and in good shape.
2. Procurement Specialist
To ensure that products and materials are bought quickly and affordably, this role entails locating and selecting suppliers, negotiating agreements, and overseeing the procurement process.
3. Operations Manager
This position includes maintaining inventory levels, organising logistics, and ensuring production keeps up with demand while supervising the production and delivery of goods and services.
4. Supply Chain Analyst
In this position, data analysis is used to find possibilities to increase the supply chain’s efficacy and efficiency and to make changes to improve performance.
5. Transportation Manager
This position requires keeping track of the shipment delivery schedule, and ensuring that goods are delivered in the same good condition as it was when packed.
6. Customer Service Manager
In this position, you’ll manage your interactions with customers, which includes attending to their wants, enquiries, and problems.
7. Supply chain consultant
Working with businesses to evaluate and enhance their supply chain processes, including locating potential for efficiency and cost savings, is a part of this function.
8. Supply chain software developer
This position includes creating tools and software for supply chain management, such as procurement, inventory, and logistics management systems.
These jobs give you a reason to pursue an MBA in Supply Chain Management.
Supply Chain Management MBA Salary
The payout for an MBA in supply chain management might vary depending on the candidate’s degree of experience, the duties of their current role, and the location and size of the business.
However, the average salary for MBA Supply Chain in India is INR 13,20,000.
Supply Chain Management is a fast-paced industry that requires skilled, efficient and top-notch candidates. As Wolfe Says, “A mistake or missed deadline can cost a company a few hundred thousand dollars and open the door to a competitor.” An unwavering commitment to execution is necessary for the competitive, fast-paced, and demanding field of supply chain management.
Jagpreet is a Digital Marketing Expert and EdTech enthusiast. Having a total experience of over 11 years, he has been working in the Education industry for the past 6 years. Over the years, Jagpreet has mastered multiple trades such as Web Development, SEO, IT, Content Writing, Graphic Designing, etc. He is an extremely tech-savvy individual who loves gaming.