The 21st century has been dominated by technology. There have been advancements in technology each and every moment of the day. The services that once used to be inaccessible to people are now just one click away on the screen of their mobile devices. That is how rapidly the industries across different areas of services have evolved.
MBA or Masters of Business Administration is a two-year degree which provides a deep insight into the functioning and processes employed across different businesses and industries. The course has been a favourite amongst young minds and professionals, since it has, for a long, educated the learners about how the business has evolved through the decades, what skills and tactics are needed for a business to thrive, what industries are to savour the luxury in the coming times, and how with critical thinking, good communication skills, quick problem-solving abilities, etc., one can thrive in the competitive world of industries.
MBA in Supply Chain Management is an extremely diverse field with hundreds of job profiles existing that transform raw materials into a product which is desirable by the customers and ready to be delivered into the markets.
What is Supply Chain Management?
Imagine a world where any product you want can be supplied to you even at the doorstep of your home. Why imagine! we already live in a world where products are received by millions of customers each day without any hassle or inconvenience. When you shop on an online shopping platform, several steps and processes are involved, from selecting a product you like to ensuring its delivery to you within a few days. All of the steps and processes involved in delivering services and products in the market are a part of the management process known as supply chain management.
Supply chain management is about exploring how the flow of goods occurs in the market across industries. The industry mainly functions on these five aspects:
- Source Management
The supply chain works in a way that meets the desires and needs of customers. The process has to be competitive, coordinated, collaborative and communicative to efficiently plan out the full process till the products are ready to be delivered to the customers. Fortunately, an MBA in Supply Chain Management prepares you to carry out this task efficiently.
Skills Required in Supply Chain Management
Supply Chain Management is a vast industry that employs various job roles and functions. There is a team that procures raw materials or products, then there is a processing and design team that shapes and finalises the face of products. Another team handles the inventory management and then there is a team who is responsible for sales and promotions. There are few members who look over the finances and operations of all these processes. Different skills are required to maintain and carry out all these functions effectively and synchronously. Here are few of the skills required in supply chain management:
|Knowledge of Market Dynamics
Job & Salaries in Supply Chain Management
1. Operations Manager
The Operations Manager is responsible for handling many of the key aspects of a supply chain business. As an Operations Manager, one reviews the performance based on the data and statistics to derive out the productivity of different sectors involved. Along with it, the Operations Manager coordinates between different production activities, directs different teams in regard to steps taken, sits with the team to decide the pricing, packaging, design, etc. and works on the areas to improve the process as a whole.
- Average Salary: INR 10.6 LPA
- Highest Salary: INR 20 LPA
2. Logistics Head
The Logistics Head, or Logistics Manager, is responsible for different tasks to help the business grow and give customers the best satisfaction in regards to their desired products. They are responsible for: Inventory and handling the supply; Supervising the staff and the tasks being carried out; Executing and organising all the projects; Employing safety standards and protocols in regard to the quality & the quantity of products; Negotiating with the suppliers; middlemen or any other workforce to maximise the profit of the business without compromising with the quality of the products.
- Average Salary: INR 9.9 LPA
- Highest Salary: INR 20 LP
3. Purchasing Specialist
Procurement of the best materials and services to give a product the best shape and look is one of the most crucial parts in the supply chain management process. The purchasing Specialist also referred to as the Procurement Head is responsible for all the resource needs, from sourcing the best raw materials, hiring and negotiating with the workforce that can give the best services, talking to vendors for the purchase and selling of products, deciding about sectors of market to which the product will appeal to, cost cutting to profit maximising, etc.
- Average Salary: INR 5.5 LPA
- Highest Salary: INR 12 LPA
4. Inventory Manager
When a product has been transformed into its final form, before supply and release, they are kept in inventories to carry out the quality check, to ensure that all the standards of different protocols have been matched and to check if the stock is in enough quantity, and many other formalities as such. An Inventory Manager is responsible for taking care of all the stock present in the inventory. They have to look after the quantity of the products, notify if the demand for the products is more or less than what is in store, check if there is anything that needs to be modified in terms of quality of the product, Keep a detailed report on which product has grossed more profits and what is more than liking as per the market and the customers, etc.
- Average Salary: INR 5.2 LPA
- Highest Salary: INR 10.5 LPA
5. Project Manager
The primary duty of a Project Manager is to ensure that all the projects being undertaken are directed towards maximising profits, increasing sales and boosting the overall growth of a business. They are responsible for coordinating between different tasks of the project, providing estimation about the completion of the task, scheduling real times for the different processes involved, evaluating the expenses of the projects and implementing different procedures that will help the project to be done under the given time taking into consideration all the budget constraints. They also employ different software, communication skills and contract management negotiations to make sure that the project is completed according to the set protocols and standards.
- Average Salary: INR 17.1 LPA
- Highest Salary: INR 30 LPA
Institutions offering MBA in Supply Chain Management
Here is a list of different institutions that offer regular/online MBAs in Supply Chain Management.
|Regular MBA Colleges
|Online/Distance MBA Colleges
|DY Patil Deemed to be University Online
|INR 1, 70,000
|Suresh Gyan Vihar University
|INR 1, 50,000
The field of Supply Chain Management is extremely diverse and offers a wide range of job profiles across all domains. From procuring the raw materials to shipping a product to giving it its final form in terms of shape, design, build, etc., different processes are involved in building up a product that lives up to the expectations of customers and gives them the satisfaction of buying a service.
Kamaldeep Singh is an accomplished digital marketing specialist, and has been associated with the education industry since 2022. With a flair for knowledge, he finds joy in learning and sharing insights on education, technology, digital marketing, and self-care through his writing. He is passionate about cars, tech-gadgets, and loves long drives.