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Supply Chain Management: Why Is It A Hot Specialization?

April 13, 2014 2:45 pm0 commentsViews: 814
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supplychainmgtSupply chain management is one of the MBA specializations open to professionals who are looking to improve their career options within this field. While there are a variety of MBA options available to prospective students, it seems that students are particularly interested in supply chain management. To understand why so many people consider this to be a hot specialization, it is important that individuals take a closer look at what this industry entails. Jump to 50 Top Online MBA’s for 2017 with dozens of options in Supply Chain.

Opening New Doors

One of the reasons why students are looking at getting their MBA in supply chain management is because this opens new doors for them in terms of their careers, particularly if they have a passion for the field. Those who choose to enter into this field are usually the ones that have a certain set of skills, such as negotiation and the ability to spot weaknesses in processes within a business, although these can also be learned as part of an MBA.

Always Something New

According to the experts, supply chain management is such an appealing career option because it allows professionals to dabble in a variety of tasks, not just a handful. This usually means that individuals will always have something different to look forward to when they are going about their work. Many professionals who have an MBA in this field work to source goods, manufacture them and ship them off to customers, so this is an exciting field to enter into.

Job Growth

Because supply chain management is all about supply and demand, this is a field that is constantly booming. This means that job growth is pretty steady. Delece Smith-Barrow explains;

“The lifetime for electronic products is measured in months – not years – which means companies must constantly reconfigure their supply chains.”

This also means that supply chain companies will be around for a long time, allowing individuals who are interested in this field to benefit from the knowledge that they will have a vast amount of job opportunities to pick from. It is imperative for anyone looking to enter into this industry to have a sound knowledge of the field, including an understanding of basic finance, human resources management and accounting.

The Three Facets Of Supply Chain Management

Those who are looking at entering into the field of supply chain management will first need to make themselves aware of the three facets of this field, including the global market, the long hours and the generous pay. The first facet applied to the fact that graduates who obtain a qualification within this field will most likely receive an education on conducting business within on a global market. In years gone by, products manufactured within a certain country would most likely end up being sold within that country, but this is no longer the case. These products are being sold throughout the world. In some cases, they might even be manufactured to be sold throughout the world.

Students who opt for an MBA in supply chain management will need to take note that this profession often requires that individuals work fairly long hours. In some instances, professionals will be checking their emails until the late hours of the night, while other businesses might end up running 24 hours each day. These nontraditional working hours might not be appealing to some people, but they make this career path all the more exciting for others.

One of the most appealing facets of obtaining an MBA in supply chain management is that these positions often result in very appealing compensations. According to recent statistics, the average salary for a manager within this field is about $96,000, although this number will depend on their precise position.

More MBA Programs Becoming Available

Because of the rising demand in MBA-certified professionals, institutions are now working to make more of these programs available to individuals throughout the world. According to Rick Blasgen of the Council of Supply Chain Management Professionals;

“Supply-chain management has moved from a “necessary evil” to a “core competency” at companies across industries.”

Companies simply cannot do without professionals in this field because in many instances, these professionals allow the brands to move their products, avoid embarrassing issues related to the manufacturing and processing of their goods, and help them improve the efficiency of their businesses. There are many companies that simply wouldn’t be in existence today with a competent professional leading this facet of the business, and the need for experienced professionals is on the rise.

✔ Online MBA Option

An MBA in supply chain management will prepare you for many exciting positions in the growing field of supply chain management or SCM.

*Southern New Hampshire University

Online MBA (Supply Chain Concentration)

Per Credit Cost: $627
Minimum Time: 12+ Months
Accreditation: ACBSP
Work Experience: None
Learn the latest topics in the field, preparing you to make critical management decisions. Our knowledgeable faculty brings real-world expertise and applications to both operations management and supply chain management courses.

A Talent Shortage

One of the main reasons why supply chain management has become such a hot subject to professionals throughout the world is because there is actually a major shortage in talented professionals within this field. This means that companies are going out of their way to source experienced and talented individuals, and this usually drives up the perks associated with these positions. As the contributors of Apptricity explain;

“The Georgia Center of Innovation for Logistics, using U.S. Department of Labor data, calculated that the United States needs to fill about 270,200 logistics-related jobs each year through 2018 – and that’s just to keep up with projected industry growth.”

When this is compared with the estimated 75,000 formally trained professionals that will be graduating from institutions over that time, individuals will be able to identify a clear discrepancy between these two figures.

Limited job opportunities are often some of the most frustrating challenges for any qualified professional to have to deal with, which is why it is so refreshing to locate such a promising industry.

It is up to individuals to ensure that they are promising candidates for these positions, however, since the mere lack of appropriate professionals within the field doesn’t mean that companies will hire just about anyone. While the field might be a very promising one indeed, it is up to prospective graduate students to make sure that they put their best foot forward when it comes to obtaining the appropriate qualifications and adding to their experience within their field. Ultimately, this will only contribute to their success.