This worldwide industry is in high demand.
Have you ever wondered how the products you order online make it to your doorstep? Of course, it takes hundreds or even thousands of people working in a variety of different sectors to make it happen, from manufacturing to packaging to warehousing to transport and more. When these elements work together, a supply chain is formed.
Just about everything you use on a daily basis was made available to you by means of a supply chain, which can be defined as a network of functions that creates and distributes something to the consumer. As a career field, supply chain management is broad, fast-growing, and filled with opportunities.
For most traveling students, supply chain management is probably an obscure and perhaps even unheard of career. However, pursuing it in this day and age is well worth your consideration – and for good reason. Read on to learn about why traveling students should consider studying supply chain management.
Something for Everyone
One of the most standout qualities of supply chain management is the tremendous breadth of what it encompasses. To get any product off the assembly line and into the hands of the consumer requires numerous steps that constantly need to be monitored, assessed, and optimized. Within this process are a range of different roles. This includes:
- Design and planning
- Procurement and supply management
- Warehouse design
- Distribution network design
- Inventory control
- IT systems development
- Training and education
- Expense management
- Financial controls
- Freight transportation
- Customer service
To create a competitive advantage within these functions, the use of dedicated software and extensive business planning is required. Put simply, there’s something attractive for every kind of person within the supply chain management field. And if what you’re doing no longer fulfills you, the opportunity to move elsewhere is always there.
Travel Opportunities
Almost every major company has a supply chain that spans multiple countries around the world. Even smaller businesses often rely on overseas manufacturers and partners in different locations to get their products delivered. This makes the industry rife with remote work and travel opportunities. You might even be able to work from home.
Online Study Options
It’s not only after you graduate and find a job in supply chain management that you’ll be able to travel. Even while you study, there may be little to no constraints when it comes to where you stay. This is made possible by the rise of online universities that provide the opportunity to obtain a degree without having to attend any physical institution.
It’s often the case that these universities allow you to benefit from lower fees, less stringent entry requirements, and programs tailored to your academic goals, all while still providing a recognized and accredited degree. Click here to learn more about online supply chain management study programs.
Skills Development
Given the broad range of roles available in supply chain management, it should come as no surprise that there’s an equally extensive number of opportunities to create a huge portfolio of skills. The following skills make up just a fraction of what you could learn:
- Planning and analysis
- Scheduling and time management
- Real-time problem solving
- Decision making
- Leadership
- Design
- Project management
- Conflict resolution
- Negotiating
Not only that but the supply chain industry also gives you the opportunity to work with a wide range of different people, both within your own company and those it’s affiliated with. You’ll have the opportunity to work with people in different fields, backgrounds, cultures, and even different countries.
Career Openings
According to Market Watch, the supply chain management industry was valued at $1.4 trillion in 2018 and is set to be worth over $2.3 trillion by 2024. Despite there already being millions of people in the industry, there’s still a significant shortage of employees.
Research by the Supply Chain Talent Academic Initiative found that for every six job openings in the supply chain industry, only one qualified professional is available to fulfill the position. It was also found that retaining professionals is a major concern, further fueling demand for graduates with a relevant degree.
Advancement
According to the Council of Supply Chain Management Professionals, some common entry-level positions in the industry include transportation analysis, procurement, and inventory management. However, there’s little in the way of being limited to a specific position in supply chain management.
With the prevalence of job training and educational programs, it’s easy to obtain the necessary knowledge and skills required to take your career to new heights and with it, your salary. So, if you’re working in the supply chain industry, you can have peace of mind knowing that you’ll never be stuck in the same position for long.
Competitive Salaries
On the topic of salaries, a 2016 survey by Peerless Research Group found that the median annual salary of a supply chain professional was $105,575. Some positions fared even better, such as general managers, who earned a median salary of over $160,000 per year.
Future Developments
The supply chain industry is on the cusp of some significant changes in the years to come, thanks in no small part to the explosion of e-commerce and related technologies. Some revolutionary advancements are set to occur in fields such as:
- Internet of Things (Iot)
- Blockchain
- Predictive analytics
- Autonomous vehicles and drones
- 3D printing
- Artificial Intelligence
Being part of an industry that relies on leveraging cutting-edge technologies is always exciting. It exposes you to interesting and thought-provoking innovations that are unlikely to be seen elsewhere. By engaging in the field, you can contribute to the development of these technologies, making it the perfect career path for creative minds.
Conclusion
From accessible study options to competitive salaries, advancement opportunities, and a broad range of work options, there are more than enough reasons for any traveling student to consider pursuing a career in supply chain management.
It’s true that for many people, their desires and goals change during the course of their careers. As a professional working in the supply chain industry, you know that you can easily change your direction and keep moving forward. So, be sure to consider becoming part of a field that drives businesses forward and shapes the world economy.
