supply chain management degree

supply chain management degree

The Importance of a Supply Chain Management Degree in Today’s Business Environment

1. Introduction to Supply Chain Management

The introduction of higher education in supply chain management (also referred to as global logistics or operations supply chain management) to the business and engineering education communities focuses the study of supply chain management directly on the center of the business. This natural environment is one rich in relationships and technical management challenges. Some programs are informed by economics, and requirements come from industries that design products and delivery systems that use the supply chain, internal and external, for competitive advantage. Other supply chain management degree programs are informed by the logistics of fast-moving consumer packaged goods companies that need to maintain a balance of product along the value chain, from raw materials to the finished product at the point of sale.

When developing a broad, senior-level curriculum such as supply chain management (SCM), there is often a combination of strategic, organizational, process, and technical knowledge needed. Degrees that cover strategic formulation and the effect of both internal and external factors on the supply chain as a whole align more closely with business administration in general, while those that delve into the specific processes and decision tools required are more often focused in engineering fields. The bachelor’s degree in supply chain management requires both the big picture view of SCM and the technical aspects required to attain the strategic objectives. Academic degree programs in supply chain management combine physical and knowledge infrastructures, links within chains, and problem-solving techniques used to manage and improve human, material, and knowledge flows and associated information and financial liabilities within and between organizations, from initial raw material extraction and synthesis through finished product service delivery.

2. Benefits of Obtaining a Degree in Supply Chain Management

There are many benefits to obtaining a degree in supply chain management. One of the primary benefits is that a supply chain degree will increase your marketability and employability factor. Through coursework, internships, supply chain site visits, student organization participation, certifications, and scholarships, students will be offered a multitude of applied learning experiences that will provide them with the fundamental knowledge necessary for a successful career. The curriculum of a supply chain degree is inherently interdisciplinary and comprehensive. Offered at the undergraduate or graduate level, this degree is designed to develop intellectual, practical, and professional skills in students who wish to build a successful career in a variety of supply chain roles. Graduates of supply chain management degree programs will be particularly well-prepared to be involved in activities such as operations planning, procurement, production, quality management, logistics, transportation, inventory management, compliance, and risk management.

It is a fact that degrees are important, and obtaining a degree in supply chain management or a related field is invaluable. Every day, supply chain professionals impact the way people live, work, and play – we make a difference! This is not a career that finds you – you consciously choose to be part of the innovative world that we have all come to depend on. What we do has changed the world, and how we do it will shape our future. When you have a supply chain management degree, you have a marketable and highly employable skill set that is greatly needed in today’s complex global environment. The supply chain of an organization represents a much more complicated interconnection between a company, its customers, and the global environment in which goods and materials are produced and delivered.

3. Key Skills and Knowledge Acquired through a Supply Chain Management Degree

The ever-increasing global competition has created an urgent need for business and industry partners to closely collaborate in addressing these supply chain challenges. Your degree program will foster a learning environment that provides you with the technical, analytical, and design skills necessary to address the many challenges associated with the creation, integration, and management of innovative supply chain systems. A typical curriculum consists of courses in finance, marketing, accounting, economics, quantitative techniques, negotiations, business processes and systems, value chain management, supply chain coordination, enterprise resource management, focus functions such as purchasing and logistics, quality, time, and cost systems engineering, transportation, and inventory planning, suited electives from other departments and prior professional experience, and a capstone experience in professional practice.

A supply chain management or logistics degree program offers you a range of important skills, knowledge, and experience. Through these programs at both graduate and undergraduate levels, you will acquire significant expertise in business management, financial analysis, information technology, interpersonal communications, transportation, logistics, hazardous materials management, financial planning, time management, dealing with labor unions, solutions to business and supply-side problems, business organization, and other issues in the field. Additionally, many graduates of this degree program from universities and business schools with existing partnerships with major retailers, manufacturers, and service providers receive job offers well before graduation.

4. Career Opportunities and Growth Potential for Supply Chain Management Graduates

A steadily growing number of corporations from a broad spectrum of industries – such as manufacturing, retailing, and technology – have embraced supply chain management as critical to their success. As the importance of these complex competitive processes rose, a labor market demand gap emerged in the United States and more broadly worldwide. A common response to a labor market demand gap is to develop educational programs to prepare individuals for positions in high-demand areas. Many enhanced educational programs, or dedicated ones, have been prodigiously developed as an answer to this demand. In this environment, students should become more familiar with the intricate supply chain management landscape and the array of stimulating careers available. More importantly, they should receive the will and the skills necessary to progress in management and attain the organization’s competitive advantage.

Introduction

Supply Chain Management: Bridging the Labor Market Demand Gap

5. Conclusion: The Value of Investing in a Supply Chain Management Degree

Recent trends, such as the vast reductions in inventory over the past decade, outsourcing to low-cost regions, reverse marketing of products, and customer demands for customization and speedy access to products have magnified the importance of logistics and its interaction with all other categories of supply chain management. Even during economic downturns, companies are willing to invest heavily in supply chain technology. Supply chain management is not just an enabler but a reinvention of company strategy and direction that strengthens and broadens corporate positions. The efforts in supply chain management extend well beyond logistics to collaboration, with supply chains themselves becoming living entities and competitive weapons. Supply chain management positions represent a Who’s Who and what’s best of corporate America in terms of career opportunities.

In today’s fast-paced business environment, a supply chain management degree can provide significant additional value to students seeking to enhance their career options. The distinguishing benefits of such a background are many, including enhanced employment opportunities and greater earning potential. Above and beyond jobs, a career in supply chain will benefit the student in their entire life as it teaches core competencies in operations, merchandising, trade, and relationship building. These are life skills that you can benefit from no matter the job you have or where the future takes you.