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Supply chain management is a challenging and rewarding career choice. If you are interested in a career in supply management, here are some things to consider. Supply chain management is a broad field that encompasses many different areas of expertise. There are many different career paths you can take within supply management.
Some supply managers specialize in procurement, while others focus on logistics or inventory management. There is a lot of opportunity for growth and advancement within supply management. Take a look at why Supply Chain Management may or may not be for you.
What Does a Supply Chain Manager Do?
The supply chain manager is responsible for overseeing the entire supply chain. They are responsible for planning, coordinating, and controlling the flow of goods and services. They also work with suppliers to ensure that the goods and services are delivered on time and within budget. It is a very important role in any company.
One reason to consider this field is the potential for job growth and advancement. The Bureau of Labor Statistics projects that the employment of purchasing managers, buyers, and purchasing agents will grow about as fast as the average for all occupations through 2026.
The median annual wage for purchasing managers was $108,120 in May 2017. Supply managers who have earned professional certification or a bachelor’s degree should have the best job prospects.
While the job market for supply managers is growing, there is still a lot of competition for jobs. To be successful in this field, you will need to have a strong knowledge of the supply management process and communicate with suppliers.
You will also need to be able to negotiate contracts and manage relationships with suppliers.
The globalization of the economy has had a significant impact on the supply chain management field. Supply managers must now be able to source goods and services from around the world. They must also be able to manage the risks associated with global sourcing, such as political instability and currency fluctuations.
The use of technology is also changing the way supply managers work. Supply chain managers must now be familiar with electronic procurement systems and other software used to manage supply chains.
They must also be able to effectively use data analytics to make decisions about sourcing and managing inventory.
What Type of Education Do You Need?
While some jobs in supply chain management only require a high school diploma, most jobs will require at least a bachelor’s degree. There are many different types of degrees you can pursue, including a bachelor’s degree in supply chain management, logistics, or business administration.
You can also pursue a master’s degree in supply chain management or a related field.
What Is The Entry Level Job Market Like?
The entry-level job market for supply chain managers is very competitive. Many companies require at least a bachelor’s degree for entry-level positions. You may initially start out as a purchasing agent or buyer and then advance to a management position.
The purchasing agent or buyer is responsible for sourcing and purchasing the goods and services that a company needs. They are also responsible for negotiating contracts with suppliers. Some companies also offer entry-level positions in supply chain management for recent college graduates. You may need to get certification from a professional organization, such as the Institute for Supply Management (ISM).
Pros and Cons of Being a Supply Chain Manager
There are both pros and cons to being a supply chain manager.
- The potential for job growth and advancement
- The ability to work in a variety of industries
- The opportunity to use your problem-solving and communication skills
- The ability to work with people from all over the world
- The opportunity to use cutting-edge technology
- The competition for jobs
- The need to have a strong knowledge of the supply management process
- The risks associated with global sourcing, such as political instability and currency fluctuations.
Final Thoughts About a Career in Supply Chain Management
If you are interested in this career, you can start your education process from the comfort of home. Consider a supply chain online graduate certificate today.