Yes, Supply Chain Management is a good career as it offers a plenty of job opportunities with good salaries and a lot to learn ensuring positive growth in career. It is one of the most diverse field in the business sector as it is interconnected with all other functions. As per the report of U.S. Bureau of Labour Statistics the jobs in Supply Chain Management are projected to grow for about 30% in next 10 years. There are good number of career opportunities in supply chain management from manufacturing plant to stores where products are kept for consumer sale.
Career Growth in Supply Chain Management
Logistics is a field where exponential growth is experienced and the graph goes up even at the times of recession. During the Covid Pandemic as well, when social distancing was observed to check the spread of the virus and people resented to go out for shopping the online shopping was the alternative adopted by most of the people across the world. The Supply Chain Management played a crucial role in doorstep delivery of the orders for customer. So this is the field of job which always remains in demand. There will be more workforce adding to this field in the coming years and therefore brings good opportunities for positive career growth.
Graduates can get a career offer in the following fields:
- Supply chain planning and procurement
- Designing and supply management
- Making inventory lists
- Distribution networking
- Warehouse management
- Goods and material transportation
High Salary for Supply Chain Management Professionals
The annual salary for a person in logistics is relatively higher than their counterparts. This is also because they have to face many challenges to perform their duties effectively within the given timelines. The average salary of a person in Supply Chain Management in India is INR 8-9 lakhs per annum. The salary however scales from the entry level to higher levels. An individual with Supply Chain Management Certification is eligible for better compensations. Given below is the breakup of salary at different levels:
Early Level: A person who has just started a career in Supply Chain Management and has an experience of 1 year or less than a year to approx. 4 years can earn about INR 3, 40, 383 per annum on an average.
Mid-Level: A person in Supply Chain Management with about 9-10 years of experience is liable to earn an average compensation of about Rs. 8, 21, 516 per annum.
Experienced: Anyone with over 10 years of experience in Supply Chain Management is eligible to earn an average annual salary of Rs. 12, 00, 000 to Rs. 14, 87, 178.
Late Career: When a person is tenured with around 20 years of experience the salary can range anything between 15, 03, 217 to 18, 00, 000 per annum.
Also Read: Best High-Paying Jobs In Supply Chain Management
Job Opportunities for Supply Chain Managers
Supply Chain Management is in high demand and there are tremendous job opportunities in this field. A few Supply Chain Management jobs are explained as under:
Logistician: Logistics cannot run without people and it needs efficient individuals to work in this field. A person qualified in Supply Chain Management can also handle other management and analyst roles as well. This is because an SCM professional develops in them the capability to observe minute details, bring changes in the existing systems with innovative ideas, with clear and critical thinking ability.
Purchasing Manager: An individual with good negotiation skills can build a career as a purchasing manager. The skills are required for them as they have to place purchase orders, generate invoices, etc. for the purchase made and hence negotiation and communication skills along with relationship management abilities with clients are quite necessary.
Supply Chain Engineers: For building a career as a Supply Chain Engineer a person should have required knowledge in applied mathematics, logistics and IT through which they can optimize the Supply Chain Management and meet customer demands. The SCM engineers may need to formulate algorithms to manage the overall goods handling.
Data Analyst: SCM field requires immense data that comes while managing sales, purchase, creating inventory, and following schedules. This domain requires immense data handling and thus a job role of data analyst also suits a person with knowledge in SCM.
Transportation Manager: The Transportation Manager handles the transportation of raw goods which is usually done by renting of trucks and other loading vehicles. They coordinate with the logistic departments for the same.
Doing an online course in Supply Chain Management is thus quite beneficial to secure a job in this high demand area.
Educational Qualification and skill set required for Supply Chain Management
A person who wants to pursue a course in Supply Chain Management requires to hold a bachelor’s degree in Business Administration with specialization in the field of SCM. They can thereafter start their career as a purchasing manager, transport manager, logisticians, etc.
The skill set required for an individual working in the SCM field includes good communication & negotiation skills, listening, analytical and presentation ability, mathematical calculations, accounting and finance. They must be critical thinkers with innovative minds to bring change and improve the existing processes.
A few soft skills are also required for SCM individuals such as understanding and fundamentals of artificial intelligence, big data, machine learning, IOT, etc. The certification courses in the similar areas thus helps to give an edge to the individual among their peers. The certification courses available for individuals in Supply Chain Management are Certified Professional in Supply Chain Management (CPSM), Certified in Production and Inventory Management (CPIM), Certified Supply Chain Management Professional (CSCP).
Also Read: How to become a Supply Chain Manager?
Roles and Responsibilities of a Supply Chain Manager
The roles and responsibilities of a Supply Chain Manager includes the following:
- Procuring the raw materials/goods/services and managing orders from around the world.
- Supervising the online operations and handling deliveries.
- Operating packaging and shipping of orders.
- Cost reduction in supply chain operations.
- Increasing productivity by making schedules
- Making clear lawsuit for Legal aspects
- Manage orders and inventory
- Strategy for the launch of new products
- Maintaining Customer Relationships
- Purchase and development of products
Is Supply Chain Management hard?
There are a few drawbacks of making a career in Supply Chain Management. For an entry level professional it requires a lot of time and energy investment initially. They have to face many challenges and solve problems. Making a career in Supply Chain Management can be quite challenging and hectic at times. As a sales and marketing professional has to negotiate with members, deal with a certain amount of pressure at times, similarly an SCM individual also needs to deal with multiple departments like manufacturing, transportation, IT, distribution, etc. This can sometimes lead to opinion conflicts which may make implementation of a policy cumbersome. The Supply Chain Management Course will help to develop the essential skill set to handle the complicated situations that usually arise for a supply chain manager.
Complex Processes
There are situations when profits decline as the cost surges while carrying on the projects. The cost has to be handled throughout the SCM network. There are situations when high cost can be predicted but at times the increased cost cannot be forecasted. Here are a few examples of such cases:
- High cost of labour from the manufacturer
- Increased prices of raw goods and materials
- Costlier transportation through sea, air or by road due to surge in fuel prices
- Market inflation resulting in high cost of storage in warehouses
Challenges Faced
Apart from product pricing, product delivery speed and quality are the major factors on which supply chain management professional plays a crucial role. With the e-commerce sites like Amazon, Jabong, Shopclues, Flipkart, Myntra, Meesho, etc., becoming more and more prevalent nowadays, consumers are able to compare prices of products online at multiple sites, which makes it necessary to avail a product at competitive price range after taking into consideration the incurred costs during purchase, process, packaging and delivery and keep a profit margin for the same.
Similarly delivering quality product is another challenge, if the product delivered is not as promised or the quality is compromised either due to incompetence of the product or packaging damage, leakage, etc. the product is returned while delivery and pick up costs are to be borne by the company. The third factor is speed, with the doorstep delivery, an added factor is quick delivery and the ecommerce sites like Dunzo, Blinkit, Instamart, etc. ecommerce sites claim quick delivery of groceries at doorstep. Now an SCM professional need to handle the entire operation from arranging items, packaging, and delivering orders swiftly and effectively if they want to make the firm profitable.
Also Read: 5 Functions of Supply Chain Management
Supply Chain Management Courses in India
Talentedge + Upgrad offers two different Supply Chain Management Online Courses from reputed institutes like Michigan State University and XLRI. After completion of the course the participants easily earn Supply Chain Management Certification Online. The courses available are Global Master Certificate in Integrated Supply Chain Management and Executive Certificate program in Logistics and Supply Chain Management.
Conclusion
There are many aspects of making a career in supply Chain Management, on one hand it is challenging while on the other hand it is rewarding. It is a very dynamic field which requires skills to solve complex issues, face challenges and combat the situations. With the transformation happening across globe the Supply Chain Management is in high demand with multiple job roles available in the market for such individuals. The demand is still rising and thus making a career in Supply Chain Management is beneficial for growth, learnings and also in the monetary terms.
More Information:
Learn to efficiently manage Global Supply Chains
What is the Concept of Supply Chain Management?
18 Tips to Optimize Your Supply Chain Operations TODAY
How Analytics Play a Key Role in Supply Chain Management?
