In recent years, many study streams have been created, and more of them keep coming almost every day. New streams are created from older streams, with a few modifications in the curriculum. For example, these substreams have been derived from electrical engineering :
- Electrical engineering
- Electronics engineering
- Automotive engineering
- Microelectronic engineering
- Electronic and electrical engineering
With so many options to choose from, it's highly difficult to choose the one stream which suits us. If you are not too mainstream and are not interested in Engineering or Medical degrees, management degrees are also a good option. Management courses have risen in popularity in past 10 years. In this article, we are going to have a look at Supply Chain Management and Logistics, a good sub-stream if you are interested in management courses.
What is it?
Supply chain management (SCM), as evident from the name itself, is used to manage the transfer of goods, services, and raw materials from a place of manufacturing to the place of consumption. Most often than not, place of manufacturing is a factory, and the place of consumption is the end customer. In other words, supply chain management deals with the designing, planning and managing the supply chain activities.
Logistics, on the other hand, is basically a network between manufacturing and marketing departments of a company. Logistics deals with transportation and managing the inventory. Logistics management is a subdivision of SCM, aiming to meet a customer’s need. A person handling logistics in a company is called a Logistician.
Though SCM and Logistics refer to the same activity sets, the major difference lies in the domain of supply. When goods and services are transferred within the same organization, it is called Logistics. But when different parties are involved in the transaction, it is termed as SCM.
Types of Supply Chain Management
Depending on what system is designed to handle, we can categorize Supply Chain Management into 2 types, as mentioned below:
- Supply Chain Planning Systems (SCPS): This type of system helps the companies in planning the supply chain systems.
- Supply Chain Execution Systems (SCES): This type of system helps the companies in executing their supply chain systems.
Types of Logistics Management
Logistics management can be broadly classified into 4 categories, with respect to aspects of supply processes dealt with:
- Supply Management: Supply management is concerned with the planning of supplying the materials that are to be delivered somewhere at a point in time, to support the production needs.
- Distribution Management: Distribution is used to determine how the produced goods, raw materials, and stored items are delivered to the required locations.
- Production Management: Production management is all about how raw materials and delivered goods are assembled into final products.
- Reverse Management: In reverse management, the leftover, usable items from the production of previous products are collected.
Degrees offered in the department
As mentioned before, there are many degrees available for the program of SCM and Logistics. Some of the most popular degrees and best colleges for the same are mentioned below.
- MSc. In Operations Research and Supply Chain Management
This degree is created for individuals who want to apply for operations management or for positions in manufacturing firms that a part of global supply chains. Weatherhead School of Management, Cleveland, USA and Case Western Reserve University, Cleveland, USA are very popular among management colleges providing degrees for operations research and supply chain management. The entire course spans for 3 semesters.
- MSc in Procurement, Logistics and Supply Chain Management
This degree is designed for developing skills in global procurement, supply chain management, and logistics. It is one of the most popular degree programs in the UK and has been recognized by Chartered Institute of Procurement and Supply Chain Management (or CIPS). The course can take anywhere from 1 to 2 years.
- Master’s in International Logistics
Master’s in International Logistics has been designed for the students who like taking challenges and would like to experience the problems, challenges, and competition they are going to face in the international markets. This degree also enables students to envision the benefits they will get from a productive chain supply. WSB University, Gdansk, Poland is considered a top university for this course, which usually lasts for 2 years.
- Master’s in Supply Chain and Procurement Management
Supply chain and procurement management are one the most necessary requirement in case you plan to succeed at international level. This degree teaches the students the skills needed to execute plans and strategies to reduce production costs and increase revenues. It helps the new businessmen build a successful career in supply chain management. MIP Politecnico Di Milano School of Management, Milan, Italy is very good for this degree course and it takes about a year to complete this program.
- Master’s in Global Supply Chain Management
Do you want to gain knowledge about logistics sector? Look no further than this degree program offered by Antwerp Management School, Belgium. This program is directed toward providing information about global supply chains to new students and let them experience supply chain management and logistics. Completing this course helps the graduates in getting jobs in a higher number of companies. A year-long course, it is going to help you get better insights into how companies market their products.
- Master’s in Internal Logistics
In this corporate world, companies want to centralize their operations like logistics, procurement, product purchasing, and product distribution. This course helps the professionals trained in all these areas of management operations, face the challenges and identify opportunities in business. It is also designed to teach them all the aforementioned operations. INSA Business, Marketing and Communication School, Barcelona provides this degree course, and it is a 1 Year Course.
Getting degrees from good universities is always beneficial. The better your degree college is, the better are your chances of getting a good job. This is because top universities have a defined structure, and know what skills are needed for coping with business competition. According to best-master.com, these are the top universities you can enter.
- Massachusetts Institute of Technology (MIT)
MIT needs no introduction. Providing world-class education and facilities alike, MIT has made its name to the best university in the world. If you want to join a university for completing your management course, look no further than MIT.
- Purdue University
Want to enjoy the ambiance of USA and join a good college? Then maybe Purdue University in West Lafayette, Indiana would suit your needs. Although the university provides science, technology and agricultural courses, the supply chain management courses are also well reputed. A good alternative to MIT University, in case you couldn’t make it to MIT.
- Nova School of Business and Management
It is one of the most well known and respected university of management in Portugal and a leading university in Europe. Being the first Portuguese college to get international accreditations, having your degree from here will set you up for the challenges you are going to face in business life.
- KEDGE Business School
KEDGE Business School in France ranks number 3 for MBA courses nationally. KEDGE has its branches in Marseille, Bordeaux, Paris, Suzhou, Shanghai, Dakar and Toulon. Kedge is the biggest business school in France, holding its position in Top 30 for several years. You get to choose the location you want to study in while getting the same education everywhere.
Jobs after Graduation
Done with your MBA? Good. Where do you go next?
After you get your degree in Supply Chain Management and Logistics, it’s time to get a job. Unfortunately, you don’t get many choices for jobs, but what you get to offer you a good salary. Every company needs managers, and that’s why these are the job positions you can get.
- Marketing Manager
- Business Development Officer
- Assistant General Manager
- Logistics Manager
- Supply Chain Analyst
- Hub In charge of Warehouse Operations
- Supply Chain Coordinator
Future Opportunities in SCM and Logistics
As time passes by, more and more companies have leaned towards customer satisfaction and quality services, rather than profit. They have learned that a single happy and loyal customer will bring more revenue than ten unhappy customers.
In the future, we will see artificial intelligence and machine learning algorithms implemented into supply chain management systems. This will allow the companies to predict what customers exactly want, even before the customers place the orders. This way, logistics will become much faster and efficient.
In the end, SCM and Logistics are going to have a great future, and now is the high time to start these courses. Companies are going to need many new people as they expand, and if you can fulfill their needs, this is a straight up money grab opportunity.