Although stocking additional inventory can prove costly for companies they still need to ensure that they have enough material to meet consumer demand. This balance is maintained by supply chain managers. They evaluate the purchasing, sourcing, and transportation of goods and supplies. They develop long-term strategies to lower costs and increase profitability. Supply chain managers discovered alternative sources of supply and materials after COVID-19 disrupted the manufacturing and movement of goods.
The Bureau of Labor Statistics (BLS), projects a 4% job increase in logisticians and supply chain managers between 2019 and 2029. Supply chain managers are needed in many industries, such as manufacturing, healthcare, transport, and government agencies. You can work in this fast-paced industry by earning a bachelor’s degree.
Should I Get a Bachelor’s Degree in Supply Chain Management?
Bachelor’s degree in Supply Chain Management that combines concepts from finance, logistics and economics. These courses equip students with essential skills and help them develop organizational, problem-solving and critical thinking skills. This field requires communication and interpersonal relationships.
Many industries require supply chain managers to plan and manage their logistics programs. While most supply chain manager jobs are full-time and they get the benefits of their job, some may find it stressful. Travel may be required for some jobs.
Many universities and colleges offer supply chain management degrees through their business schools or as a concentration in a business administration degree. A bachelor’s degree takes at least four years to complete. Students can often earn their bachelor’s degree online in supply chain management while working.
The supply chain management profession is constantly evolving. It is important to stay up-to-date with the latest developments in supply chain management. The Association for Supply Chain Management helps professionals to network and learn from each other. This association offers professional credentials to verify your skills and knowledge in logistics, supply chain management, planning, inventory management, transportation, distribution, and logistics.
What Will I Learn in a Supply Chain Management Bachelor’s Program?
Bachelor’s degree in Supply Chain Management and based on fundamental business concepts by studying economics, accounting, business ethics, and other business disciplines. You will need to know advanced mathematics in order to be able to attend many business and supply chain management classes.
Students will learn how to use different software such as data analytics, inventory management, presentation, and presentations. Some courses will focus on the Management of Supply Chain and Logistics Management degree.
The supply chain management curriculum also teaches leadership principles, conflict management, and strategic management. Students can put their skills to use in a professional setting through internships. This capstone experience is required by many programs.
These concentrations complement a bachelor’s degree in supply chain management. Concentrations may require three courses or more on a particular topic.
This multi-disciplinary concentration is focused on the development of a new company. Students learn how to identify funding sources and develop business plans.
Project management is a set of processes that help to plan, implement and measure an initiative. This concentration teaches students how to identify resources and develop budgets. It also enables them to incorporate stakeholder input along with time frames to ensure projects stay on track.
Many businesses operate in a global setting. Students in supply chain management can learn how to collaborate with global partners to source goods, establish relationships and manage international economics. You may be able to study abroad with this concentration.
Leadership courses are offered to students who want to learn about conflict management, team building, and business communication. The courses teach communication skills, people management, and business improvement.
Students can focus on marketing to identify the company’s value consumers and communicate this value to the customer. Marketing analysis, branding, and sales management are all common courses.
What Can I Do With a Bachelor’s Degree in Supply Chain Management?
According to the ASCM 2020 salary survey, supply chain professionals work primarily in planning. Other duties include supervising manufacturing, delivering goods, and enabling business operation. There are many job titles that can be assigned depending on the industry and employer. Examples include inventory analysis and procurement specialists, operations manager, and logistics manager.
An online bachelor’s degree in supply chain management will prepare you for a range of jobs. Your skills gained during your studies are still in high demand in healthcare, manufacturing, and transportation.
Further education can be done through graduate studies or a professional credential. Supply chain management changes quickly. To stay on top of the latest trends and best practices in supply chain management, it is important to keep learning in a supply chain degree.
What to Expect Bachelor from a Supply Chain Management Degree
How can you get the practical knowledge and training necessary to start a career in supply chain management? Your best option is to get a formal education.
We used real-time job analytics software to analyze more than 50,000 job postings in the supply chain. 79 percent of these positions required a bachelor’s. 1 A Supply Chain and Logistics Management degree program will teach you how to make organizations more efficient and manage the flow of goods from the consumer to the supplier.
How Much Money Can I Make With a Bachelor’s in Supply Chain Management?
The BLS estimates that logisticians make a median salary of $76,270. According to the ASCM survey, supply chain professionals made between $50,000 and $158,000 in 2020 as base pay. Entry-level supply chain managers earned $60,000 with less than two years of experience. Salary expectations can vary depending on where you are located, your industry, your education (SCM degree), and your experience.