Is Supply Chain Management a Good Career?

Now is an exciting time to work in supply chain management. This growing field is changing in many ways, thanks to new digital interventions and a need to predict what was once unpredictable. Supply chain managers are at the forefront of it all, paving the way toward a new supply chain landscape.

These logistics professionals play a pivotal role in a company’s success, as order fulfillment and ensuring steady supply levels are crucial to any company looking to grow in the consumer space. The growth of this role indicates that supply chain management is a good career path to pursue in today’s business-to-consumer (B2C) landscape.

In this article, we’ll discuss the benefits of a career in supply chain management, key responsibilities, and education requirements for pursuing this profession.

What Is Supply Chain Management

Supply chain management involves overseeing the strategic management of every aspect of the supply chain. This includes procurement, production, logistics, and waste disposal. The key to effective supply chain management is efficiency. It finds the most efficient route to getting products into the hands of the organization’s target audience.

Supply Chain Models

Supply chain management models may vary based on the organization, inventory levels, and other factors. These include the following:

Fast Chain: This model is most effective for companies and products with shorter life cycles, such as limited product lines.
Continuous Flow: This model is best for stable and consistent supply and demand.
Agile: This model is adaptable and responds to quick market changes.
Efficient Chain: This model streamlines operations, yielding quick and efficient returns and reducing waste.

Key Responsibilities for Supply Chain Managers

The supply chain has numerous components, which is why supply chain managers have a wide range of responsibilities, including the following:

Developing and proposing cost-effective strategies for the overall supply chain
Evaluating supply chain strategies to find areas for optimization
Cultivating relationships with partners and vendors and negotiating contracts
Hiring and training new supply chain and logistics staff members
Establishing contingency plans for supply chain disruptions
Finding and mitigating supply chain risk
Managing customer concerns due to the supply chain
Measuring the financial performance of the supply chain and forecasting its financial outlook.

Why Is Supply Chain Management a Good Career Path?

Supply chain management is rife with opportunities for career growth and innovation. Below are some of the reasons that prospective professionals may want to enter this evolving field.

Competitive Salaries

According to Payscale, the median annual salary for supply chain management professionals is $89,320 as of August 2024. Supply chain management salaries can vary due to several factors, including location or experience level. For example, a supply chain manager with 20 or more years of experience makes, on average, about $101,260 per year, whereas a supply chain manager with one year or less of experience makes around $66,290, according to Payscale.

Impressive Career Growth

The U.S. Bureau of Labor Statistics (BLS) expects the logistics sector to grow by 19% between 2023 and 2033, outpacing the average growth rate of all other occupations. This means that supply chain management could be a good career path for prospective professionals.

The BLS states that one of the primary reasons for the growth of the logistics sector is the significant number of people leaving the profession, including those who plan to retire. The exodus of this retiring population means that supply chain management is in need of new logisticians, particularly those who are agile, proactive, and embracing the technology of the future.

A Changing and Dynamic Field

Supply chain management is not only growing but also changing. The findings of the Top 10 Supply Chain Trends 2024 report from the Association for Supply Chain Management (ASCM) may explain this. Top trends revolve around the increasing digitization of the supply chain and how artificial intelligence (AI), machine learning, location intelligence, and the expectation of near-real-time analytics and tracking will affect the supply chain in the coming years.

The supply chain has also faced a tumultuous time in the past few years due to the global pandemic, raw material shortages, and natural disasters; this is why the report also highlights the growing trend of preparing effective risk management. Professionals with skills and knowledge in these areas can enter this exciting field at the forefront, leading innovation and improving efficiencies.

What Are the Requirements to Work in Supply Chain Management

Supply chain managers can come from various backgrounds, some educational and professional steps are required to take to become one.

Education

Supply chain managers should begin with a foundation in business administration through a Bachelor of Business Administration (BBA). This degree provides future supply chain managers with a deep understanding of today’s business landscape, vital when we consider how much the business world is changing year after year.

Experience

Beyond education, supply chain managers generally need a background in business or customer service. Most supply chain managers have several years of experience working in logistics, procurement, or supply chain management.

To prove their expertise, a supply chain manager may want to obtain certification in logistics, such as the Certified Master Logistician (CML) from SOLE - The International Society of Logistics.

Skills

A supply chain manager should have strong communication, leadership, and problem-solving skills, as well as knowledge of tools like enterprise resource planning (ERP) software, which is vital for tracking and analyzing many of today’s supply chains. A supply chain manager who’s planning their future in this profession should also consider training on AI, location intelligence, and other tools that can help them digitize their supply chain.

Become a Supply Chain Manager With NCCU

The future of the supply is filled with opportunities, making supply chain management a good career path to consider. If you’re considering working in supply chain management, the online BBA from NCCU Online can provide you with a solid foundation in business and supply chain essentials.

Ready to take the next steps toward your career in supply chain management? Learn about our online BBA courses, and start planning your future.

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Sources:

Association for Supply Chain Management, Supply Chain Manager

Association for Supply Chain Management, Top 10 Supply Chain Trends 2024

Inbound Logistics, 6 Types of Supply Chain: Their Roles Defined

Indeed, “What Does a Supply Chain Manager Do? (With Job Description)”

Payscale, Average Supply Chain Manager Salary

U.S. Bureau of Labor Statistics, Logisticians

U.S. Bureau of Labor Statistics, Occupational Employment Wages, Logisticians