For businesses that provide physical merchandise to customers, supply chain represents the heart of the organization. Those interested in supply chain management jobs will need the right training and education.
A degree like the Master of Business Administration from Northeastern University’s D’Amore-McKim School of Business can put students on the right track with its Supply Chain Management concentration. This type of program can prepare students for entry-level and advanced positions in supply chain management, including exciting opportunities like:
This logistics systems position requires supply chain professionals to analyze, coordinate, and optimize a company’s supply chain. This includes all steps of the product lifecycle, from development and design through distribution and beyond.
Logisticians manage the flow of goods and services involved in supply chain purchasing, transportation, inventory management, and product storage. These professionals work in an array of different environments, including consumer goods, military supplies, and more.
According to the U.S. Bureau of Labor Statistics, logisticians earned a median annual wage of $74,600 as of May 2018. While employers will offer opportunities for candidates with bachelor’s degrees, those holding a master’s degree can increase their earning potential. According to BusinessStudent.com, those with a master’s degree earned an average salary of $82,000 annually.
Currently, the job outlook for this profession is expected to expand about as fast as the industry average, at 5% through 2028. This will create about 8,400 new logistician positions during that time period.
Supply Chain Analyst
This is a more advanced position than the logistician role. It includes not only responsibilities related to overseeing supply chain processes, but also gathering data and optimizing performance as well. Supply chain analysts leverage data and information about the flow of goods, operational costs, delivery schedules, and other metrics to monitor and report on supply chain performance. Analysts create reports based on their calculations and present them to decision-makers, including supply chain managers. Senior staff can then take the necessary actions to improve productivity across the supply chain.
As supply chain career portal SupplyChainManagement.ie noted, the analyst role requires professionals to have strong quantitative and analytical skills, as well as a deep understanding of logistics and production processes. Glassdoor reported that the current average supply chain analyst salary was $59,701 annually, as of December 2019, although compensation can vary. The lowest earners in this profession made an average of $46,000 annually, whereas the top earners saw compensation of $77,000 annually.
The BLS noted that this employment role will see similar growth to that of the logistician, with a 5% job outlook forecast through 2028.
Supply Chain Manager
A leading management-level role is the supply chain manager position, ideal for those with an advanced education and considerable work experience in the field. This role requires that professionals manage and oversee all aspects of supply chain logistics and costs, including purchasing, materials management, scheduling, inventory, and more. A successful supply chain manager supports productivity across the supply chain, as Investopedia pointed out, and can prevent product recalls and other issues that might impact a brand’s reputation.
Glassdoor reported that supply chain managers earn an average of $61,915 annually. The BLS discovered, however, that the lowest earners in this profession saw compensation of $56,050 annually, whereas the top earners received an annual wage of $158,370. Overall, this profession will also see about average job growth of an estimated 5% through 2028.
Professionals interested in pursuing these supply chain management jobs can prepare with an advanced higher education, like the Supply Chain Management concentration within Northeastern University’s Master of Business Administration degree program. Connect with us today to learn more.
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D’Amore-McKim School of Business