We often hear from people who love to shout “find your passion” from the rooftop. But our passion isn’t a set of keys that we lost and need to find. Passion is discovered in action. We need to step back for a while and clarify our interests because passion is the fruit that grows from the seeds that are our interests and open our career path. If a fulfilling career is the goal, at some point we need to take deliberate action. Consequently, even if any doubt comes, attempt to have it clarified. Considering this, a master’s degree in “Supply Chain Management” is one of the most impressive and effective master’s degrees one may pursue.
What Is the Supply Chain?
Fundamentally, a supply chain is a process through which the movement of goods and services happens, and it also includes all processes that transform raw materials into final products. It implies the dynamic streamlining of a business’s supply-side activities to boost customer values and obtain a competitive advantage in the marketplace. By managing the supply chain, companies can cut excess costs and deliver products to consumers faster. By this program one can build a good Career Path.
It’s All About Supply Chain Management:
The establishment and maintenance of essential business and supply chains falls within the scope of supply management. As the global market is growing increasingly, outsourcing providers have become more popular. If a company can properly create a connection with its suppliers, it may reap various benefits. Supply chain management keeps companies out of the limelight, as well as costly recalls and lawsuits. Developing a plan, obtaining raw materials, production, distribution, and returns are the five most important aspects of supply chain management.
Through supply chain management (SCM), suppliers aim to build and operate supply networks that are as efficient and cost-effective as possible. Supply chains encompass everything from manufacturing to product creation, as well as the information systems required to coordinate these activities.
SCM is established on the concept that practically every product that reaches the market is the result of the efforts of several businesses that make up a supply chain. Even though supply chains have been around for a long time, most businesses have only recently recognized them as a valuable addition to their operations. But there is a difference between the supply chain and supply chain management.
- A supply chain is the network of people, businesses, resources, activities, and technology that come together to create and sell a product or service.
- A supply chain begins with the distribution of raw materials from a supplier to a manufacturer and ends with the delivery of the finished product or service to the final customer.
- SCM manages all aspects of a company’s product or service, from strategy to delivery.
- Strong supply chain management may boost revenues, lower costs, and improve a company’s outcome since there are so many areas along the supply chain that can add value via productivity or lose value through increasing expenses.
- The supply chain is one of the most undervalued and misconstrued conceptual aspects of business management. In today’s e-commerce era, a profession in SCM is a greatly beneficial and emerging one, coming on the heels of COVID-19.
- The value of supply chain management (SCM) should be self-evident: to simplify and manage this critical operation. But there’s a lot more to it than that, from customer service to assisting in worldwide disasters.
- A bachelor’s degree in supply chain management or a degree in accounting, information management, marketing, business administration, or engineering is preferred.
- In comparison to the average salary and career chances for most occupations, supply chain and logistics experts earn more money and have more opportunities in today’s global scenario.
- Salaries in supply chain management and logistics have been constantly increasing. According to the Association for Supply Chain Management (ASCM), supply chain and logistics professionals with a bachelor’s degree make an average salary of $78,750, according to survey data from 2020. In the same study, 91% said that they received additional incentives on top of their base wage.