What is Supply Chain Management?
Supply Chain Management (SCM) includes all the activities that must take place to get the right product into the right consumer’s hands in the right quantity and at the right time – from raw materials extraction to consumer purchase. SCM focuses on planning and forecasting, purchasing, product assembly, moving, storage, distribution, sales, and customer service. Therefore, SCM professionals are involved in every facet of the business process as they strive to achieve a sustainable competitive advantage by building and delivering products better, faster, and cheaper.
Supply chain management professionals play a role in all kinds of organizations - manufacturers, retailers, transportation companies, third party logistics firms, government agencies, and service firms. Therefore, firms from around the world in all sectors of the economy recruit SCM graduates. As a supply chain professional, an individual could work in a variety of areas including purchasing, logistics, new product development, global sourcing and procurement, quality management, inventory control or traffic analysis, operations, and supplier relationship management. Competitive pressures and sophisticated customers who demand innovative and speedy solutions characterize today’s global business environment. Understanding and optimizing business processes is a cornerstone of success, and for this reason, supply chain professionals are in strong demand.
Successful supply chain professionals are typically detailed-oriented with an ability to prioritize, plan, and organize. In addition, they are usually quick-learners, possess excellent communication skills, are able to effectively manage relationships and work in teams, and are effective problem-solvers.
Supply Chain Management professionals make business better
Below are some frequently asked questions regarding careers in SCM. This information will help you to learn more about a career in SCM and to better understand the opportunities such a career may have in store for you.
What kinds of people pursue SCM degrees?
The profiles of SCM professionals are varied, but in general, such individuals possess many of the following traits:
- good problem solving skills
- ability to effectively manage time and resources
- a clear vision of “the big picture” as well as the “small details”
- a desire to work closely with other people
- excellent communication skills
- ability to think strategically about technology
- a desire to take responsibility for developing and implementing their own ideas
What are typical career options for SCM professionals?
- Supply/Demand Planner
- New Product Project Manager
- Procurement Manager
- Supply Chain Strategist
- Business Intelligence Analyst
- Business Process Consultant
- Vendor Relations Manager
Why should I choose to major in Supply Chain Management?
- Job satisfaction
- High placement rate
- High salaries
- Exciting field
- Challenging field
- Hands-on problem solving
- Innovation and creativity
- Global opportunities
- You can have an impact!
What is an average salary for an SCM professional?
From 2002 to 2007, SCM undergraduate starting average salaries rose from $43,000 - $54,000. This represents a more than 25 percent increase in just five years.
The table below shows a comparison of average starting salaries for graduates from each of the six undergraduate majors at Mays Business School over the past three years:
