Supply chain management is facing a critical talent shortage. That means a field with career opportunities, inciting many to look into this prosperous career. Earning your degree in supply chain management can help you break into this exciting field.
A Growing Field
Supply chain management remains critical to keep businesses running and growing in the global market, being a key competitor differentiator. Covid-19 has disrupted supply chains, stressing the need for creative, efficient problem-solvers. The Bureau of Labor Statistics (BLS) estimates that there will be 30% job growth between 2021 and 2031.
High Earning Potential
Supply chain careers have the potential for high earnings. The Institute for Supply Management’s 2021 Salary Survey says the average salary for supply chain professionals is $124,000. Conducted between May 12 and 30, 2021, the survey average base salary of the top 5 percent of earners in 2020 was $398,871, up 15.6% from $344,909 in 2019.
Because salary potential and employment opportunities may vary depending on factors such as a candidate’s education and experience, as well as regional market conditions, prospective students are encouraged to conduct independent research.
Variety of Positions and Specializations
In such a vast field, there are several kinds of positions available worldwide, so there’s bound to be an appealing option for everyone in this flexible field. According to SCM talent, there are many positions across shipping organizations, service providers and functions. There are opportunities to work in any aspect of the supply chain process for large corporations, small family-owned businesses, not-for-profits, and the government.
The possibilities are endless when you have the education and skills to work up the supply chain ladder. There are management positions for various sub-sectors that all work to ensure accurate and efficient handling throughout the entire supply chain, such as Supply Chain Analyst, Supply Chain Manager, Customer Service Manager, Fulfillment Supervisor, International Logistics Manager and Transportation Manager.
In such a large industry with as many options as this one, job satisfaction can be high as it gives its employees opportunities for reward, growth, networking and empowerment. Supply Chain Management ranks #18 on Glassdoor’s list of Best Jobs in America. Additionally, 96% of respondents to a 2018 survey stated they had high job satisfaction, citing dynamic and fulfilling work made for a long-term career choice; indeed, most respondents indicated that they were happy and likely to stay in the field.
Supply Chain = Competitive Advantage
As the business world becomes increasingly globalized, supply chain management has become a significant competitive advantage for organizations on the ground and in the boardroom. The knowledge and skills required for supply chain management are applicable in several alternate positions outside of the industry, making you a valuable resource in many positions.
Interested in earning your degree in supply chain management?