All significant companies today need dedicated logistics & supply chain management to remain competitive and run efficiently. To survive, companies must adapt to changing supply chain demands and deliver value to customers increasingly efficiently. The supply chain & logistics industry is one of the largest employment generators in the country. Career opportunities lead the way, and students can have challenging careers with specializations and prospects for advancement. In addition, the industry is relishing global outreach daily. The MBA in Logistics & Supply Chain Management is among the most popular programs. A career in logistics & supply chain management is perfect for those with logical thinking and various innovative ideas.
Logistics & Supply Chain Management is a multidisciplinary field combining key concepts from Operations, Logistics, Procurement, Information Technology, Marketing, Transportation and Distribution, Warehousing and Inventory, and Systems Engineering, among others. As a result, you will significantly expand your professional skills and gain in-depth knowledge of emerging and challenging supply chain and distribution issues.
For freshers, it is essential to understand that logistics refers to those activities that occur within the boundaries of a single organization and cover under its gambit activities such as procurement, distribution, maintenance, and inventory management. On the other hand, a supply chain refers to a network of companies working together to deliver a product in the market. The supply chain encompasses logistics activities and includes related functions such as marketing, financing, and customer services.
While both areas of study focus on understanding the flow of goods from the point of origin to the endpoint, taking into consideration the careful coordination of supplies, labor, facilities, etc., it is necessary to know how they differ from one another when it comes to making a career choice. Pursuing an MBA in any specialization is a vital decision that must be carefully thought through. While knowing the various fields available when you choose to do an MBA in Logistics & Supply Chain is essential, this article will help ease your decision process.
Traditionally viewed as mere transportation (Rail/Road/Air/Sea), logistics is more complex and multi-layered than meets the eye. As the business environment transforms into a more mature space, strong demand for cross-functional skills is bound to grow. In such a quickly evolving environment, perfect knowledge and experience in International and National Business Procedures, Regulations, and Cycles, the knowledge of International Geography, route planning, and end-to-end connectivity will be critical to determining a successful career in logistics. According to a report by TeamLease, the logistics sector in India is expected to create 3 million new jobs over the next four years, primarily driven by GST implementation and significant investment in infrastructure.
For anyone looking to pursue an MBA in logistics, the opportunities are umpteen, as this program equips you with the necessary knowledge to match the broad spectrum of the fast-paced business environment and sectors, including transportation, IT, Marketing & Sales, E-Commerce, and Supply Chain. As a student of an MBA in logistics, you will be introduced to the basic concepts of Business Logistics, the analytical models, and the principal tools under subjects like Business Statistics, Total Quality Management, Strategic Management, etc.
MBA in logistics also encompasses goods handling, product supervision, sales, client relationships, etc. The prerequisites are robust management control, excellent communication, and a team-building spirit. The management degree is sure to offer numerous options for majors to choose from; among them can be Logistics Strategy, Customer Service, Import & Export, Operations, Inventory Management, etc. The latest tools and technologies include: SAP SCM, Watson Supply Chain, E2open, etc. In a nutshell, an MBA in logistics is about planning, executing, automating, and scaling processes that ultimately lead to customer satisfaction. This two-year logistics program usually entails logistics & supply chain management along with business administration logistics.
Planning a logistics and supply chain management career, you should know what it holds for you before taking the plunge and what to expect in this career with short-term and long-term goals. With technological advancements, the scope and career prospects of an MBA in logistics have increased manifold over the last decades. As a result, there is a growing demand in the market; multinationals worldwide are looking for trained business professionals who can overcome complexities, resolve the inefficiencies in logistics management, and move toward profitability. All this comes when you undertake a management course in Business with a specialization in Logistics.
Even for students looking forward to a career in Distribution, Operation Management, or Procurement, this course provides a strong foundation by opening up positions like that of Logistics Consultants, Warehouse Operations Managers, Inventory Managers, Transportation Managers, Supply Chain Consultants, Industry Analysts, etc. Though it can be a high-pressure job, performing well can help and lead your way up the corporate ladder. With constant innovations and modernization, the starting salary can be expected to be around 4.5-5 Lac per annum, eventually increasing as per the skill sets and experience.
The reasons that will help you make the right career choice with an MBA in logistics are- foreseen demand, with projections mounting nearly 4% growth from 2019-2029 as per the Bureau of Labor Statistics*. Today, a logistics manager is the backbone of any organization, as all firms see global import and export. They are the principal agents responsible for shipping, tracking, and final product delivery to the customer. This, combined with the lucrative pay scale and career growth, makes it one of the most rewarding career options.
The supply chain covers a whole range of activities associated with the flow and storage of goods, services, and related activities for a business. It’s vital to ensure that businesses deliver efficiently for their customers and stay competitive in today’s markets. With the world becoming increasingly globalized, the challenge of procuring, storing, and dispatching resources has grown significantly. As a result, supply chains have become more complex, and organizations are keen to recruit and retain the best talent to keep processes running smoothly and efficiently and to ensure they continue to innovate and improve.
The Indian supply chain industry is increasing, supported by strong industrial demand. Supply chain managers must be experts in diverse skills to execute their duties, and the ability to analyze and multi-task is crucial for them to succeed. It’s a combination of analytical abilities, interpersonal skills, and managerial skills that make a complete logistics professional, one who’s well-equipped to handle infrastructure and organizational challenges. The National Skill Development Corporation (NSDC) report outlines that India will need around 28.4 million strong Supply Chain workforce to cover the country’s booming Transportation, Logistics, Warehousing, and Packaging sectors by 2022.
Prestige University believes in the excellence of quality education catered in relevance to the current times and industry demands, giving students a complete educational experience. The institute’s strategy of responding efficiently and effectively to the changing needs of the industry and student community brings it into the league of leading business schools across India. At Prestige University, all the business management courses are tailored to give a clear understanding of Management subjects and are well-structured to enhance students’ functional and soft skills development. A perfect blend of modern and traditional teaching methodologies helps students to gain knowledge in the best way possible while also helping them realize and believe in their ability to evolve as successful role models and decision-makers in the professional world.
The MBA in Logistics & Supply Chain by Prestige University helps develop skills for professionals to optimize organization profitability through effective supply chain management. The program helps the participant sharpen their skill to leverage the advantage of a proper supply chain. It is a program that should be chosen by future managers who incline cost optimization of an organization and maximum market penetration of its product.
Additionally, the course allows you to put theory into practice, delivering simple supply-chain solutions and recommendations, enabling you to analyze and solve real-world business problems and address key industry challenges.