Getting your MBA is the first step toward a multitude of new career opportunities, perhaps some that you hadn’t even considered before. Supply Chain Management (SCM) is one such opportunity.
Described simply, SCM involves improving efficiencies and coordinating production, inventory, location and transportation among the participants in a supply chain, but there is a lot more to this rapidly growing sector.
Based on a new MHI report, the logistics/supply chain business will be looking to fill 1.4 million jobs, or roughly 270,000 jobs per year through 2018.
But why is the healthy demand?
SCM professionals will continue to rise in trend due to the fact that globalization shows no sign of slowing down, pushing companies to explore to markets in other region.
The growing complexity of global operation forces the majority of leading product companies to outsource their warehousing and logistics activities – about 60 percent of them, according to a research. Furthermore, almost 50 percent of those companies are outsourcing their manufacturing and assembly activities.
Due to those changes, professionals with supply chain expertise are well sought after, raising the demands for SCM professionals: The number of job openings for SCM has steadily rises from 55,370 in 2011 to 56,259 in 2012 and 61,048 in 2013.
The biggest demand in SCM comes under the titles of Business Administration and Management.
The rise in demand also marked with the competitiveness in the average supply-chain salaries. Entry level SCM professionals made an average of $50,000 annually, whereas the top-level SCM professionals (Chief of Purchasing/Supply Management/Sourcing) earn an average of $240K annually.
All in all, the figures above show you one thing: If you are studying in business administration, you should consider to acquire specialised skills in SCM. It’s on-demand and the outlook is exceptional.
To learn more, checkout this infographic created by Norwich University’s Master of Business Administration online program.
Infographic by Norwich University Online