Introduction
Is a masters in supply chain worth it? You can establish a career in the continually evolving supply chain field across industries with the aid of a Master in Supply Chain degree. Aimed at recent bachelor’s graduates who wish to position themselves for long-term success in international supply chain operations, this specialized business master’s degree is for you.
Graduates from Master of Supply Chain programs go on to start fascinating careers and find jobs at organizations like Amazon, Philips, PwC, and Microsoft, among many others. This program can be a fantastic choice for you if you’re considering your business master’s degree options.
In this article, we cover all the essential information about the Masters of Supply Chain program, including who it is for, what you can do with it, and how to apply.
Who Is A Masters Of Supply Chain Program For?
The majority of Masters of Supply Chain programs are created for early-career and pre-experienced professionals who wish to start a career managing the flow of production from raw materials to the finished product.
The Graduate Management Admission Council (GMAC) reports that 62% of Masters in Supply Chain applicants think about enrolling in the program before beginning a full-time career.
Equal numbers of men and women are interested in master’s programs in the supply chain, and STEM-related undergraduate degrees are most frequently held by applicants.
Candidates for the Masters of Supply Chain should possess good quantitative skills and a love for the complex field of the supply chain.
Types of Masters in Supply Chain
If you decide to enroll in a Master’s program in the supply chain, you have a few distinct delivery options:
Masters in Supply Chain
Traditional Master of Supply Chain programs typically last one year and are taught on-campus.
Along with general management topics, you’ll study a wide range of subjects, such as logistics, procurement, risk management, and strategic sourcing.
Students in these programs frequently have the opportunity to participate in study tours, job placements, and on-site projects with regional businesses. These are excellent chances to expand your professional network, knowledge, and abilities in the field you want to work in.
Online Master’s of Supply Chain
You might decide to do your Master of Supply Chain coursework online. The same fundamental curriculum is covered in online master’s degrees, but because of the flexible delivery, they could take longer to finish. Online courses are more likely to offer flexible start dates than in-person courses, which typically adhere to the standard academic schedule.
You’ll be required to do more independent study in an online supply chain course than you would in a campus-based program. This will entail participating in online lectures and class discussions as well as using the university library to obtain online materials. You might even take your final examinations online.
Online courses still provide students the ability to participate in group projects despite being delivered remotely. Many programs provide students with access to online message boards where they can interact with classmates and teachers, and other programs might even have a residential component.
What Are The Courses Covered In Supply Chain Master’s Programs?
Let’s look at what that degree might be termed before we get into what you’ll learn when you enroll in a supply chain master’s degree program. A Master of Science in Supply Chain Management (MSSCM) or a Master’s in Supply Chain Management are both possible degrees to obtain (MSCM). A Master of Engineering in Supply Chain Management, an MBA in Supply Chain Management, or a Master of Applied Science in Supply Chain Management are all available through several business programs. Additionally, there are master’s degrees that only study international supply chain management. Students in all of these programs learn the methods, tools, and abilities needed to create and transport commodities as well as to control inventories and distribution on a national and worldwide scale.
Typical courses covered in supply chain master’s degree programs include:
- Electronic Data Interchange
The transition from written communication to current technical standards for data interchange across computer systems will be examined in this course’s work.
- Logistics Management
With a focus on comprehending the impact of variance in logistics, this course will cover both qualitative and quantitative logistics tools utilized in contemporary applications.
- Demand Chain management
From the initial stages of planning through the point of purchase and consumption, this course will trace the processes of products and services.
- Total Quality Management
This course will examine quality control broadly as well as the responsibilities that sales, design, marketing, and engineering may play in enhancing output and value.
- Inventory Management
The internal and external pressures on the stock as well as the necessary stock mix to maintain balanced output will be covered in this course.
- Vendor-managed Inventory
This coursework will explain how off-site vendor ordering and inventory storage function and how shared risk can benefit both parties. Managing inventory is always a difficulty for the supply chain.
- Supply Chain Security
Considerations for studying contemporary supply chain security include terrorism, theft, and the effects of climate change on suppliers and manufacturing.
- Operations Management
This course will look at quick response, capacity management, and the design of new product supply chains in addition to inventory theory and forecasting.
- Reverse Logistics Management
Returning products from final points of purchase to manufacturing facilities for repurposing or to recoup value has developed into both a green initiative and a business opportunity.
- Liquid Logistics And Supply Chains
Liquid goods and parts necessitate special handling and shipping techniques and have particular effects on the supply chains involved.
- Supply Chain Networks
In this course, students will learn techniques for preventing supply-chain disruptions and maintaining the right flow of goods in intricate supply networks.
- Inventory Control Systems
The key to success is balancing inventory with system output, and modern businesses must focus on the technologies that can control this relationship.
Admission Requirements For Masters In Supply Chain
You typically require the following to get accepted into a Master of Supply Chain program:
- 0–3 years of professional experience
- Bachelor’s degree in business, management, or STEM
- GMAT exam result
You’ll need to submit a resume, undergraduate transcript, and recommendation letters to apply. You could also be required to submit an essay or personal statement outlining why you want to enroll in the program and why you think you’ll fit in well.
You will receive an invitation to an interview, whether it be in person or by video chat when your application has been evaluated and accepted. In-depth discussions of your motivations and inquiries regarding the program can both be had during the interview.
Career Options For A Masters In Supply Chain
Candidates from various backgrounds who have experience in logistics, purchasing, and supply chain management and who are interested in supply chain management can choose from the following highly-paid job profiles:
- Directors of Operations
Operations managers typically handle the business operations for organizations, including for-profit businesses, governmental organizations, and other types of organizations. At both large and small businesses, these managers recruit, manage, and educate staff members. They also oversee quality assurance initiatives and plan for process improvements.
- Logistics Managers
In a supply chain, it is the responsibility of logistics managers to oversee both the distribution and purchase of goods. They are essential to the process of making sure that the clients receive their goods. The candidate for this position must have leadership abilities and knowledge of financial management.
- Retail Merchandisers
To ensure that the appropriate product is available at the appropriate time and location to maximize sales and margin, retail merchandisers serve as a liaison between purchasers and the sales floor. Additionally, they choose which goods to stock supermarkets with and which to store in departments.
- Distribution Managers
Distribution managers are responsible for deciding how much of a product should be delivered, where it should go, and when it should be distributed. This position plays an important role in supply chain management and logistics, and it makes use of software and information technologies to support accurate forecasting and efficient program implementation.
- Production Managers
Budgeting, shooting schedules, and overseeing the day-to-day operations of production are all tasks that fall under the purview of production managers or unit production managers. They also manage the so-called below-the-line personnel. A candidate interested in organizing, planning, and negotiating budgets should consider this profile.
- Managers of E-Commerce Logistics
To maintain a flawless supply chain, operations, logistics, and procurement process, e-commerce logistics managers create and put into practice company plans, strategies, and processes. They supervise everyday business operations as well as the work of the company’s executives in charge of finance, marketing, and IT.
- Freight Forwarders
The person or business responsible for planning shipments for people and businesses to get items from a producer or manufacturer to a client, market, or other destination is known as a freight forwarder or forwarding agent.
- Inventory Managers
The control of a company’s inventory levels falls within the purview of inventory managers. They oversee a group of inventory workers that take in and record fresh product as it is delivered and shipped out. Their responsibilities often include tracking daily deliveries, examining various suppliers, and assessing new shipments.
- Purchasing Managers
Leading a team in the acquisition of goods and services for internal usage or external resale is the responsibility of purchasing managers or directors. They discuss contract negotiations, supplier evaluations, and product quality side by side. Additionally, there is a great demand for purchasing managers as job profiles in supply chain management and logistics.
- Warehouse Managers
The facility’s activities are overseen by the warehouse managers, who also ensure that items are stored in an orderly and effective manner, expedite shipping and receiving, and monitor team performance. Candidates with technical knowledge are ideal for this position.
Top Employers For Graduates In Supply Chain
Naturally, competent supply chain managers are frequently in great demand with multinational corporations given how crucial they are to organizations’ revenue growth and ability to compete in their industry.
Among the top companies for Master of Supply Chain graduates are:
- GM
- Wayfair
- Tesla
- Nissan
- Microsoft
- Amazon
- Uber
- Government
- NGOs
Careers Support To Access Booming Job Opportunities
You will have access to a career services team while enrolled in a Master of Supply Chain program, and they can assist you in creating a career plan and selecting the best post-graduation path.
The Master’s In Supply Chain Program’s Future
Graduates of the Masters in Supply Chain program are still in high demand. According to Deloitte, the global talent gap in the supply chain might result in 2.4 million open roles by 2028.
We have seen how the COVID crisis made candidates realize how crucial supply chain management is to every facet of contemporary life.
Is a Master in Supply Chain worth it?
In terms of money, the answer is obviously yes. It’s common for graduates of top-tier Master of Supply Chain schools to command remarkable incomes, allowing you to quickly recoup your original investment.
A Master’s in Supply Chain gives you the chance to start a successful, dynamic profession as well as to develop a network of relevant employers and peers.
Since supply chain roles are multifaceted and provide doors to many other positions within a company, career progression is an important topic.
Masters in supply chain vs MBA in supply chain
A master’s degree is a fantastic approach to distinguish yourself from other professionals in your sector. You might be unsure of which degree type or specialization is best for you because there are so many options available. Making distinct contrasts between your selections might be made easier by considering your individual professional goals. If the supply chain is your area of interest, you might be debating between an MBA and a master’s in the supply chain. While an MBA with a supply chain focus and a Master of Science in Supply Chain may sound comparable, each degree has its advantages.
Your quest for the ideal educational path can be significantly aided by an understanding of the nature of the degree programs, the skills they produce, and the potential employment they can lead to. To clarify those specifics, we’ve written this guide.
| Masters In Supply Chain | MBA |
| A Master of Supply Chain, Master of Science in Supply Chain Management, Master of Professional Studies in Supply Chain Management, or even a Master of Engineering in Supply Chain Management are all options for students to pursue. | The majority of MBA degree programs provide a wide choice of specializations, including data analytics, finance, marketing, and entrepreneurship. A concentration in the supply chain is also available in many of these programs. This concentration is frequently combined with lessons on operations or operations systems and may help students prepare for professional certification in the field, such as Project Management Professional (PMP) or Certified Supply Chain Professional (CSCP). |
| Many of these degree programs can be finished in as little as 10 to 12 months and are offered in on-campus, online, and/or flexible evening and/or weekend course scheduling formats. Some of these courses might be classified as Science, Technology, Engineering, and Math (STEM) and provide distinctive hands-on learning opportunities like consulting on real projects, building relationships with supply chain executives, and studying overseas. | Typically, MBA programs can be finished in 15 to 21 months, can be taken on-campus or online, and may include a capstone course. |
| These programs’ coursework often covers topics in areas including sourcing, inventory management, lean management, global supply chain, and supply chain design and analysis. It may need 30 to 44 credits and may involve practical experience. | Depending on the program, students may need to complete 36 to 49 credits of the curriculum, which includes fundamental MBA classes in subjects like financial management, organizational behavior, accounting, and ethics as well as courses specific to a chosen emphasis. Classes in supply chain systems, international transportation, logistics management, and supply chain business intelligence may be available as part of a supply chain management emphasis. |
| Graduates from these programs typically go on to hold advanced roles in supply chain management, such as commodities manager, director of supply chain operations, director of purchasing, or logistics management analyst. | Graduates of MBA schools can work in a variety of management and leadership positions across many firms, but they can also find employment in fields related to their area of specialization, such as supply chain management or quality assurance management. |
Conclusion
In answering the question “Is a Masters in Supply Chain Worth it” we have been able to outline some points in the article, which are:
- How the Masters in supply chain curriculum is structured
- When to consider a program online
- How the course can assist you in achieving your career objectives
- What steps are involved in applying?
No matter which university you attend, earning a master’s degree in the supply chain can open the door to a rewarding and lucrative career with leadership prospects and a wide range of potential employers.
All things considered, earning a master’s in the supply chain is worth it for anyone who enjoys and finds fulfillment in this line of work. Supply Chain Management can be the field for you if logistics is your thing.
Frequently Asked Questions (FAQs)
Is Supply Chain Management in Demand?
- The sectors of procurement, logistics, and supply chain management are among those with the fastest national growth rates. The U.S. Bureau of Labor Statistics projects that employment of logisticians will increase by 30% between 2020 and 2030, which is substantially faster than the average for all occupations.
What Is The Future Scope Of Supply Chain Management?
- Supply chain management offers a wide range of applications in numerous industries, offering considerable career potential. This results in candidates having an interest in supply chain management, purchasing, and logistics management deciding to pursue a career in this area in the future.
You can also read, “Is A Masters In Chemical Engineering Worth It In 2022?”
