Logistics & supply chain is the backbone of any economy. It ensures that customers receive their purchases on time and in good shape. While it seems simple, managing supply chains takes knowledge, experience, expertise, and seamless integration of many moving parts to create a flawless ecosystem.
According to Statista, the value of the Indian logistics market was US$ 250 billion in 2021. It is predicted to grow to US$ 380 billion by 2025 at a compound annual growth rate (CAGR) of 10%-12%.
With an MBA in Supply Chain Management, you will understand everything from reversed logistics and warehousing to analytical tools and techniques and gain deep subject matter expertise on various aspects of the supply chain.
MBA In Supply Chain Management: Outcomes
As a supply chain professional, you must remain updated with the rapidly evolving industry to retain an edge. Some of the latest trends include the adoption of cloud technology, an increase in tech-enabled procurement, drone deliveries and climate-smart supply chain planning.
Here are some areas you will learn more about with an MBA in Supply Chain Management:
- Management Theory and Practice
- Organisational Behaviour
- Marketing Management
- Business Economics
- Financial Accounting and Analysis
- Information Systems for Managers
- Business Communication
- Essentials of HRM
- Business Law
- Strategic Management
- Operations Management
- Decision Science
Why Should You Pursue an MBA in Supply Chain Management?
Let’s see how an MBA in Supply Chain Management can help you move into more strategic roles at work:
1. Always In Demand
Globally, India is considered an important contributor to the worldwide supply chain as it positions itself as an attractive destination for global organisations. The demand for qualified professionals has risen rapidly over the years. Even during the pandemic, when other sectors were considering mass layoffs, the growth in the Supply Chain sector continued. As long as demands for goods exist, supply chain management professionals are needed to ensure the ecosystem continues to work smoothly.
2. Great Returns On Investment
An Executive MBA in Supply Chain Management has immense value in terms of career prospects. It prepares you to step up the career ladder and shoulder more strategic roles. You earn a degree that adds value to your salary, resume and company—without putting your career on hold.
The perception that companies are only interested in candidates who have pursued regular MBA programs is incorrect. Instead, you’ll find that employers are more interested in the skills you pick up during the program, such as data visualisation, cross-functional leadership and product management.
3. Professional Diversity
Supply Chain Management is essential to nearly every business. Supply Chain Managers are required in every industry. MBA graduates in Supply Chain Management can opt for jobs in shipping, construction, transportation, retail, warehousing, oil and gas, raw material supply and several other industries. Expanded government regulations and technology disruptions have caused rapid growth in this sector.
4. Global Career Opportunities
An MBA in Supply Chain Management offers you career opportunities both in India and abroad. According to Statista, the global supply chain management market was worth US$15.85 billion in 2021 and is expected to reach US$31 billion by 2026.
In the United States, supply chain senior managers earn, on average, $157,559 per year, whereas in India, the average base salary of supply chain senior managers is ₹21 lakhs per year. Companies like Wipro, Puma, Genpact, Modelez, Reliance, Hitachi, Uber and Tesla hire supply chain professionals in India and abroad.
5. Deepen Expertise
Enhance your ability to think, build and implement strategies to generate value and get a competitive edge over others with an MBA In Supply Chain Management. You refresh your functional knowledge, deepen your understanding of supply chain management processes, and develop new skills and competencies. Since you’ll be exposed to real-life business challenges, you will develop an understanding of how to tackle supply chain issues practically.
Job Prospects With an MBA in Supply Chain Management
By enhancing your credentials with an MBA In Supply Chain Management, you will open doors in several sectors and be able to perform multiple roles. Some of these roles are:
- Senior Supply Chain Manager (₹21.6 LPA)
- Senior Logistics Manager ( ₹11.1 LPA)
- Senior Purchasing Manager (₹40 LPA)
- Global Commodity Manager (₹20 LPA)
According to an Allied Market Research report, in 2020, the Procurement and Sourcing segment had the primary share of the supply chain management market, and this trend is expected to continue.
Supply Chain Management is an exciting area to build a career in because of the transformation brought about by the digital revolution. Transportation management system vendors are adopting digitised systems for supply chain activities, positively impacting the Supply Chain Management industry.
Completing an MBA in Supply Chain Management will put you in the thick of things and effectively tackle challenges on a global scale.