A few decades ago, our career aspirations were limited to a teacher, engineer or doctor. As the world advanced, so did our aspirations. Today young graduates want to be a fragrance chemist, whiskey ambassador, robotic engineer and many other roles that most often are unheard of. These unique aspirations have led to the conceptualization of specialized training which help individuals form a strong foundation in learning and advance in their career. As businesses are developing and growing into bigger organizations, their reliance on supply chain and logistics is also becoming stronger and better. It is one of the most rapidly evolving areas in a fast-moving business.
What is Supply chain management and logistics?
In order to produce goods or services, companies require raw material or components based on which they can facilitate production. The supply chain management sources the goods for companies to function seamlessly. Supply chain management is prevalent in almost every aspect of businesses which are selling goods, starting from manufacturing, development, distribution ending with delivery. Supply chain management is not limited to one role however caters to an array of concepts including warehousing, strategic sourcing, constraints management etc. With the changing business trends, many functional areas like purchasing, logistics, transportation, inventory control, supply chain management etc have intersected with one another. Supply chain management and logistics have some similarities however supply chain forms the overarching head with multiple sub-functions below it, logistics being one of them.
Why should I pursue an MBA in supply chain and logistics?
There are two parts to this question firstly; there is a huge demand for the role. For any industry to function successfully, its core reliance is on raw materials, transportation, resources which include time and skilled people. Supply chain management encapsulates all these roles effectively and with experienced professionals, businesses can minimise the costs incurred in businesses. With the remarkable growth in business and the increasing number of ventures, there is a steady demand for trained and skilled professionals.
Secondly, the scope of SCM is huge and is not only limited to manufacturing, transportation etc. International companies are hiring trained professionals as consultants to assist with manufacturing and logistics companies. In-depth knowledge of supply chain functions and logistics will prove to be advantageous for your career.
How does a Master of Science in Supply Chain Management differ from a supply chain MBA?
A Master of Science in Supply Chain Management focuses on the subject directly along with its challenges and the best practices to solve them. On the other hand, an MBA degree will delve into the foundation of business and management while also preparing the individual with key attributes like leadership and management. The business degree will focus on management and operations within the two functions of supply chain and logistics and will also prepare students with case-studies and concepts which can be applied to solve real-world challenges. Since the online specialization will cover important fundamentals of the two roles, the students will be capable of venturing out into various other roles.
Why should I opt for an online degree program?
With limited access to various necessities and privileges, it’s the right time to build your skills. Enhancing your knowledge is the ideal way to stay relevant to organizations and your roles. Supply chain management is an important area of an expanding business. Countless companies have too many openings for SCM roles however due to a shortage of skilled professionals, these roles remain vacant. This ascertains that the demand is growing along with a high level of job security and other compensation. Due to the high demand, companies weigh an on-campus degree and an online degree on the same scale. Moreover, a student pursuing the program also gains an understanding of national and international markets basis which he or she can move to a different country to explore countless possibilities.
What are my career options after completing the program?
Since supply chain and logistics are core aspects of businesses irrespective of the industry, there are numerous roles and career paths that an individual can take after completing the online specialization. Having already mentioned, the growing demand of the sector will open up the door to multiple well-paying jobs ranging from logistics analyst, purchasing agent, purchasing manager, supply chain manager to a storage and distribution manager. Depending on the scale of the business, your responsibilities will entail strategic planning, forecasting, etc. Individuals with an MBA degree can start high from either a general manager operations role and can climb the corporate ladder. With a generous pay package, companies are constantly on the lookout for skilled professionals who will be resourceful in enhancing profits and share disruptive ideas. Moreover, supply chain and logistics are needed in various industries; therefore individuals will have the flexibility to explore several roles which meet their skill sets and interests. Supply chain is a 24*7 task, so one might not have the set hours of work but on the contrary, the role will be rewarding since you will be a key adviser strategizing on how to decrease risks, increase efficiency and help the business save huge costs.