MAJOR SPOTLIGHT: Supply Chain Management

In October 2021, the New York Times made an interesting ‘confession’: “We didn’t even have a logistics beat before the pandemic. Now we do.” This prefaced a fascinating article about a subject most people had never thought about or knew much about – the supply chain. The management of the chain of supplies that bring those products to our homes is an essential and critical component of a successful business. There are often hundreds of moving parts from the creation of an idea to the end product, and the financial success of a business always hinges upon a smooth and profitable outcome. Supply Chain Management, or SCM, is that process and includes moving and storing raw materials, creating products, storing completed products until they sell, and keeping track of those products throughout the process and after the sale, in order to develop best practices for future success.

Supply chain managers are an integral part of all business operations – logistics, purchasing, IT, materials, finances, suppliers, manufacturing, wholesalers, retailers and consumers. They must continuously monitor every link in this complex chain of people, products, and technology, keeping an eye on the bottom line and safeguarding the mission and profitability of the business. The goal is to minimize costs in order to increase profits and put efficient systems into place that can be checked, rechecked, quickly altered to take advantage of new benefits and avoid costly pitfalls. A good SCM is a highly trained professional who engages in careful research, locates requisite materials, oversees the manufacturing processes, creates delivery mechanisms, and considers the outcome for defective or unsold products. She works to avoid shortages, delays and increased costs that all eat away at her company’s profits. A good SCM will save his company money, build a network of well-trained staff, network with contacts and create positive partnerships, research market demand and reduce operating costs across the board.

Supply chain analysts average a $61,000-$75,000 annual income with a job growth of 7%-11% forecast – almost three times the national average for most jobs. Given the crisis within the supply chain created by the pandemic, more companies have recognized the critical work done by their supply chain managers and are rewarding them accordingly. Even during a recession, this career has huge growth potential. Most employers are looking for SCMs with a bachelor’s degree, but a graduate degree can lead to rapid advancement within the field and excellent job security for the future.

The SCM major is often located within an institution’s School of Business, so admission will require strong mathematics. Coursework typically includes core graduation requirements in the social sciences, arts and humanities, and science. Business core subjects will include economics, mathematics, finance, human resources, and accounting. The SCM major will focus on courses in transportation, management, procurement, customs rules and regulations, market analysis, logistics, data analytics and the art of negotiation. The national organization, the Association for Supply Chain Management, offers detailed information about professional certifications that benefit an SCM’s career growth and potential. It reports that APICS-certified individuals (ASCM is also referred to as ASICS) earn 16% more than those with other certifications, and a 27% salary increase over those without any certifications. Certification requires passing an exam, and some employers will cover the costs of testing. There are also options for scholarships through a variety of transportation and logistics foundations.

Given the wide range of activities managed by a good SCM, successful graduates master many essential qualities. There is such variety in tasks that the abilities to think quickly, pivot fast, multi-task and problem solve are essential. Since you will be required to manage both products and people, leading, listening, thinking critically and encouraging a team, often under stress, are equally important. These networking skills you develop will benefit your future companies as well as add to your resume.

You may end up traveling internationally, so cultural competency and a global outlook also define graduates. Typically, the entire process is highly data-driven so embracing technology and understanding complex data is required. Given the devastating impact of global warming, learning about environmentally sound practices is increasingly important.

Possible careers for supply chain management majors

  • Artificial Intelligence Worker

  • Automation Director

  • Business Manager

  • Buyer

  • Data Analyst

  • Financial Planner

  • Forecaster

  • Information Technology Worker

  • International Transport Manager

  • Logistician

  • Manufacturing or Warehouse Director

  • Production Manager

  • Purchasing Manager

  • Storage and Distribution Manager

  • Supply Chain Analyst

  • Transportation Manager

  • Workflow Optimizing Manager

Sarah DohlComment