The Benefits of Studying Supply Chain Management

BLOGTEAM

April 30, 2021

The unprecedented outbreak of the global pandemic, COVID-19, has increased the demand for many essential products. Many businesses are finding it challenging to disrupt their ordinary services. The procurement teams of organizations are remapping their supply chain networks and updating their databases to respond to crises. Here, supply chain management, data-driven management keeping an eye on the flow of goods, information, service, direct from organizations to customers, comes into the picture. The infographic listed below might help the business managers emerge from the crises with a new appreciation.

Introduction

Running a business in such critical times of pandemic can be tricky. However, every business requires excellent management skills and brainwork to get the company going. Studying a supply chain management course empowers you to manage your business in both regular and times of crises like this. The One-Year Masters in Business Administration (MBA) in Global Supply Chain Management (GSCM) offered by IIM Udaipur helps you gain a comprehensive knowledge of how businesses operate.

Benefits of Studying Supply Chain Management

The benefits of understanding the flow of production and distribution will empower the opportunity to:

Master Main Objectives

  • Fulfil customer demands
  • Improve organization’s responsiveness
  • Develop value for the customer
  • Create network resiliency
  • Encourage financial sustainability

According to the Statistics Bureau of Labour, there will be a growth of 7% between 2016 to 2026 in supply chain management.

Improve Profitability

  • Improving cost-efficiency
  • Maintaining proper inventory levels
  • Decreasing labour costs
  • Increasing sales
  • Infiltrating new markets
  • Enhancing differentiations
  • Establishing competitive advantage
  • Increasing shareholder value

The average supply chain management salary is INR 8 lacs per annum and can go up to 80 lacs per annum* (*depending on the assignment/industry/location).

Keep up with Challenges and Trends

  • Better technology is always a trend
  • Provide better communication
  • Availability of improved data-analysis

By studying supply chain management, it can help reduce the chance of your supply chain hitting a bottleneck.

Logistics and Decision-Making

  • Able to spot complications
  • Enact effective solutions
  • Predict new challenges
  • Minimizing inefficient risk mitigation costs

Studying supply chain management doesn’t bind you to a particular industry; instead offers to experiment and explore different sub-sectors.

Implementation of Proper System

  • Implementing new technologies in organization’s current operations
  • Reduce costs and streamline supply chains
  • Optimize the product cycle
  • Improve business operations
  • Identify and connect with best supply chain partners

Studying supply chain management means you will be able to apply the best possible technology.

Supply Chain Careers

Studying supply chain management opens plenty of opportunities to the best. With the educational background, you can work as,

  • Business Process Engineer
  • Operations Manager
  • Analyst
  • Scheduling Manager
  • Storage Distribution Manager
  • Supply Chain Manager
  • Purchasing Manager

Because of the offerings in the field, the job feels rewarding in itself.

So, this was a complete briefing over the benefits of studying supply chain management. With enough clarity on the course and the willingness to be a skilled supply chain manager, experience the enormous success of the field. Apply Now!

Source:-https://www.accounting-degree.org/resources/benefits-of-studying-supply-chain-management/

Source:-https://www.csss.es/benefits-supply-chain-management/

Source:-https://www.phdstudies.com/article/why-study-supply-chain-management/

Source:-https://www.iedunote.com/advantages-of-studying-supply-chain-management

Source:-https://www.bioenergyconsult.com/studying-supply-chain-and-logistics-management/

Source:-https://www.iimu.ac.in/programs/one-year-mba-global-supply-chain-management/gscm-at-a-glance

Source:-https://www.iimu.ac.in/programs/one-year-mba-global-supply-chain-management/admissions