Supply chain management is a preferred career choice post one year MBA like ISB MBA or the Executive MBA from IIM. A number of factors come into consideration when making decisions while choosing a career path from an array of options for one year MBA graduates. Here is some research by our team at Goalisb to gain insights into a functional role in Supply Chain Management.
This post highlights comprehensive details about what a career in Supply Chain Management means and what it has to offer for entry-level job seekers.
What Is Supply Chain Management?
Supply Chain Management is pivotal to enterprise management for a smooth operation of the business. The supply chain concept is complex and often includes a set of interconnected responsibilities. The main purpose of any employee in the SCM framework is to achieve efficacious integration of all the tasks that together comprise a supply chain.
This means complete synchronisation among suppliers, production or manufacturing, transportation of goods, retailer, and finally the customers.
Best Global MBA Programs For Supply Chain Management
A supply chain is getting materials from its suppliers to the final customer. A supply chain can be described as a unified system that delivers products to the market.
The products are transported through a network of distribution channels, warehouses and logistics providers to minimise costs and maximise profits.
The supply chain management is responsible for all the steps involved in designing and operating the supply chain and ensuring that it meets the needs of its stakeholders, including retailers, consumers, producers, suppliers, intermediaries and logistics providers.
The History of Supply Chain Management and How it is Disrupting the Business World
Supply chain management is an integral part of any business and has a lot of benefits. It helps enterprises anticipate the needs of their customers while also creating a more efficient production process.
In the past, supply chains were managed by humans using paper-based spreadsheets and manual processes. With the help of AI, these tasks have become much more accessible and streamlined.
Many manufacturers have implemented AI software to automate their entire supply chain.
Many companies are now turning to AI because humans are not capable enough to handle the ever-changing environment of new technology in manufacturing and supply chain management.
What Is The Importance of A MBA In Supply Chain Management Career?
MBA programs for supply chain management students are limited in the United States. To find a suitable program, one must search outside of the country.
There is an increasing need for companies in America to invest in supply chain training. With the demand for companies and job openings, there is also a need for students who have taken up an interest in supply chain management.
Many universities offer their MBA programs online, which is beneficial to studying full time or working full time as they do not have to commute or go out of their way when it comes to researching and taking classes.
Why Does a Good MBA Need to Include Supply Chain Management in Its Curriculum?
Supply chain management is a critical strategy that every company should have. This assignment will discuss why it is essential for MBA students to include supply chain management in their curriculum.
In today's business world, having a good supply chain management program is crucial for survival and thriving.
It creates stability and security for the company by ensuring that they have the right products at the right time to support customer demands and keep them satisfied while also mitigating the risk associated with the shortage of supplies.
How to Find the Best MBA Program for Your Needs
There are many things to consider when deciding which business school is best for your needs. Some factors are more challenging to pinpoint than others, but these are the most important considerations.
Choose an MBA program where:
The faculty has industry experience
The program has industry-relevant activities such as internships and co-ops
The program has a diverse student body
The program offers full support for career development and networking
Top International MBA Program for Supply Chain Management
The supply chain is a business process that links the manufacturing, distribution and consumption of products or services. It provides information on components, locations and transactions throughout the production and distribution.
As supply chain management becomes more critical in the modern economy, companies explore new ways to manage their complex supply chains. They are now turning to MBA programs for help in this area.
The best MBA program for supply chain management has a curriculum that includes inventory management, logistics, international trade and e-commerce. The school also offers flexible class schedules to accommodate students' busy schedules and internships in the field of your choice.
Let us take a deep dive into the top international MBA programs:
#1 University of Manchester
The University of Manchester MBA program is one of the best business schools for the supply chain management. It offers a range of modules that include the supply chain, operations and logistics, logistics planning and pricing.
Supply Chain Management is a field that has been developing quickly over the past few years as more companies have turned to digital marketing, which requires strong skills in both effective demand forecasting and efficient inventory management.
Students interested in studying at the University of Manchester's MBA program for Supply Chain Management should be looking for a school where they can develop their skill set in the field. They should also be looking for a school with an international reputation.
#2 Vienna University of Economics and Business
Vienna University of Economics and Business is one of the best business schools in Austria. It offers a 4-year MBA program in supply chain management designed to prepare students for high-level jobs in the industry.
The Vienna University of Economics and Business MBA Program for Supply Chain Management offers students a master's degree and an international approach to supply chain management by studying abroad for at least part of their course.
The Vienna University of Economics and Business MBA Program for Supply Chain Management also focuses on international networks, with opportunities to work with leading companies like Nestle, Coca Cola, Procter & Gamble, etc.
#3 University of Dublin
The University of Dublin is one of the best universities in Europe in terms of business. They offer a variety of undergraduate degrees, Master's degrees, and PhDs. One such program is the MBA in Supply Chain Management that can help supply chain managers to develop strategic plans and gain skill sets related to supply chain management.
The MBA in Supply Chain Management at the University of Dublin provides various courses, including compliance, logistics, international trade, transport, operations management and more. In addition to these courses, students will also learn about marketing and finance. The program has a strong network for students seeking internships or jobs upon graduation.
#4 Eaton Business School
Eaton Business School is an accredited business school located in Atlanta, Georgia, which offers a Master of Business Administration in Supply Chain Management.
Eaton offers a 14-month MBA program for supply chain management. In this program, students will learn the basics of the field and gain a competitive edge in the "Supply Chain Management 2020" era by learning essential skills such as data science, strategic marketing, and agile business management.
Eaton's MBA program is geared towards those with undergraduate experience working in a managing or executive role within supply chains or operations. This includes logistics managers, companies that use ERP systems or manufacturing systems, or executives from companies that manage freight transportation or inventory development.
What is a Typical MBA Program in Supply Chain Management and What Can I Expect to Learn?
Supply chain management is the process of planning and controlling the movement of goods from a producer to a consumer in an organisation or across a market.
To get accepted into an MBA program, you must submit a GMAT score, provide three letters of recommendation, and have one-year work experience. You can also graduate with an advanced degree such as a Master's in Supply Chain Management.
Typical topics taught in MBA programs include:
Global supply chains
Technological changes in supply chains
Lean production techniques
5 Steps To Determine If a School Is Good Enough for Your Career Goals
That question is not easy to answer since many factors determine the quality of a school.
Most Important: What is your target career goal, and what type of company would you like to work for?
Can you research and identify top employers in the area?
What type of curriculum will be offered at school?
Employment opportunities in the area, either through internships or through business contacts
In the world of education, there are different levels of schools. Some are more prestigious than others, while some have better career-related opportunities.
When choosing a school for your career goals, there are many factors to consider. You must take your time and research to find a school that suits your needs and expectations.
Common Mistakes While Choosing a Business School?
Many people choose business schools without knowing their options or knowing the potential pitfalls of enrolling in a particular school.
Below are the most common mistakes that students make when choosing a business school.
The number of programs offered.
The prestige of the school.
The cost of tuition and fees.
Why Choose SCM As A Career Option Post ISB MBA?
The world economy today is largely relying on consumerism which is a sure boost for finding better supply and demand balance. The job markets are in need of skilled and efficient candidates who possess a thorough knowledge of logistics and Supply Chain Management concepts. The supply chain requires a continuous flow of production of goods, transportation and storage, and also dispatch.
Today businesses have to ensure customer demand satisfaction effectively and timely is by employing deft professionals in logistics and Supply Chain Management to gain competitive advantage. This zone of professionals in the industry is covered by ISB MBA graduates.
Skills Necessary To Excel
To succeed in any career it is necessary for an MBA graduate to possess all the necessary skills relevant to the field. The presence of these skills makes an ISB MBA apt for any job position in their desired career. The same is true for aspirants looking for a career in Supply Chain Management.
Some of the essential skills that one needs to excel in a career in the field of SCM are as follows:
Supply Chain Management involves a comprehensive strategy building for business activities to enhance profit-making. An ISB MBA provides the appropriate business knowledge to make useful analyses and evaluations for improved Supply Chain development. A one year MBA is designed to deliver the knowledge of topics like accounting, business strategies, supply and demand interdependency, and other business skills which are indispensable for excellent Supply Chain Management. There are many one year MBA degrees in the areas of Logistics and Supply Chain Management that can prove helpful in gaining a grasp on all these topics.
Every industry today relies on technology and computer software for reducing the complexity of their jobs. Supply Chain Management requires job seekers to possess knowledge of certain industry-specific software like advanced knowledge of MS Excel, AX Dynamix, Python, SYSPRO etc.
It is possible to gather the basic working knowledge of most of such software through online courses and certifications before you start a one year MBA course. This can surely become a plus point on the resume for any entry-level or experienced job seeker.
Strategic Planning Skills
The tasks in the entire Supply Chain need to be coordinated and planned well to make sure any hurdle can be overcome. This makes the Supply Chain Management task a huge responsibility requiring intellect and sharp problem solving with strategies. Systematic planning and scheduling needs to be handled for the smooth functioning of the supply chain on a daily basis. Business strategy is also offered as a specialisation in a number of one year MBA courses.
Having Adroit Problem Solving Skills
Hurdles might be encountered in the supply chain due to a variety of reasons. Any professional in the Supply Chain Management needs to have the right skills to arrive at responsible solutions with prudent decision making. A strong problem-solving acumen in a manager can help find alternatives to problems like retailer and supplier pricing, late shipments, wrongly delivered goods, and more.
The case based approach followed in the leading one year MBA programs like the Executive MBA from IIMs and ISB MBA helps the MBA professionals to develop their problem solving skills
Understanding Career Paths
There are a variety of career domains to seek a job in the field of Supply Chain Management.
Some careers that a graduate can pursue in Supply Chain Management after a one year MBA like an ISB MBA or the Executive MBA from IIM include:
1. Design and planning of the supply chains.
2. Transportation and shipment management.
3. Management of warehouses.
4. Design of distribution networks.
The basic trajectory of a career in Supply Chain Management is pretty straight forward. They include the usual hierarchies just like any other career path.
Joining At The Entry Level
At the entry-level, the employee can obtain a comprehensive and holistic view of the Enterprise. The fledgling employee gets to work with many operational departments like Finance, Sales, Marketing, Quality, and even R&D. They get a high level of visibility as a professional in Supply Chain Management.
Reaching The Middle Management Level
An entry-level professional as Supply Chain analyst, buyer, planner, or coordinator can rise to a turning point on reaching the middle management. From here employees can seek job titles like strategic sourcing manager, supply chain manager, purchasing manager, and more. Experience in these directions is very useful for further growth in SCM.
Gain Career Success With Supply Chain Director Level
Also called the Director of Global Supply Chain, this is the penultimate point of success in SCM. This position is held by an industry expert in SCM who is responsible for the entire Supply Chain including purchasing, planning, sourcing, and all the other Supply Chain activities across geographies.
Globally Changing Trends In Supply Chain Management
The changing world economy has brought various modifications in the design and performance metrics of the Supply Chain. These changes have resulted in a gradual impact on SCM as well with respect to purchasing, planning, sourcing, and more. It is important to supplement the knowledge one receives from the one year MBA with the latest industry developments. The professors at ISB MBA and the Executive MBA from IIM deliver contemporary sector perspectives in class. The peer network in the ISB MBA and the Executive MBA from IIMs adds immense value to the class discussion when sector specific implementation of business concepts is concerned.
The Rising Trend Of E-Commerce
The main element that impacts online Logistics and SCM activities are flourishing online businesses. This results from the popularity shift towards online transactions, last-mile delivery vendors, and third party Logistics. Consequently, the SCM framework has transformed to become even more technology-oriented than before. Engaging in live industry projects and interaction during your one year MBA or the Executive MBA from IIM shall enhance the awareness and understanding of implementing the theoretical concepts in real-time business environments.
Outsourcing Trends And Efficiency In Operations
Outsourcing of various components of the supply chain has caught on as a very lucrative SCM strategy. Nowadays companies tend to outsource manufacturing, assembly, and delivery or shipment tasks. The task at hand of a supply chain manager to coordinate these activities efficiently becomes more critical for the enterprise.
The Concept Of Lean Chain Supply Trends
The agility of the company’s entire supply chain has become a factor in the concept of the lean supply chain. This requires the integration of technology solutions with apt decision making by employees. This calls for the need to hire supply chain analysts that are highly-skilled and talented in SCM.
Changing Product Life Cycles In Market
The every changing demand of customers leads to frequent introduction and termination of products manufactured by a business. Therefore, companies need to enhance their product life cycles to incorporate efficient supply-demand balance.
Global Leaders In Supply Chain Management
There are numerous global leaders in Supply Chain Management that have transformed their business profits and market reputation with effective management strategies. They are perfect examples of enterprises that used efficient planning in their Supply Chain Management to increase their profits considerably.
Starbucks, a Seattle-based beverage company that is primarily famous for its coffee has gained enormous profits by making intelligent Supply Chain Management decisions like reduction in costs related to outsourcing and using more effective productivity metrics.
On the same lines H&M, a leading clothing brand originating in Sweden has enhanced its supply chain to become more responsive to customer needs by making it flexible and swift.
By supporting the security of its supply chain right from the harvesters to their product consumers, Nestle has immensely boosted its revenues.
Intel has brought modernisation to the entire Supply Chain Management strategy for the promotion of agility and improved decision making related to the supply chain.
The list of global Supply Chain Management leaders goes on to include brand names like PepsiCo, Unilever, Nike, and many more.
Many companies in India like Flipkart, Nissan Motor Corporation, Big Basket, and Tech Mahindra have also excelled in their business domains by a strategic restructuring of their Supply Chain Management.
Inspiring Professionals With Expertise In Supply Chain Management
To gain confidence in any career path it is important to understand some of their successful field experts. Their gradual rise to success in the field is an inspiration for choosing a career path. Supply Chain Management has seen many excellent professionals who not only lead to huge profits for their employer company but also earned fame and expertise.
Bob Ferrari is the Managing Director of Ferrari Consulting and Research Group. He is a leading expert in Supply Chain Management with his strategies involving digital framework and technological architecture for management.
Craig Fuller, the CEO of FreightWaves, has integrated modern technology tools like Blockchain for enabling impeccable potential in trucking and shipping activities of the Supply chain.
Dr. Ganapathi Pulipaka is a chief Data Scientist at Accenture with his experience of more than 20 years in using technology for the development of business solutions.
The list continues with names like Adrian Gonzalez (Adelante SCM), Lora Cecere (Founder, Supply Chain Insights), Tamara McCleary (CEO, Thulium), and many more.