Without a doubt, the importance of logistics and supply chain management continues to grow significantly. The logistics sector has faced new challenges over the past few years and as a result, was forced to adapt, change and grow to meet the needs of the modern world.

In practically every industry, goods need to be bought, stored, and dispatched. This often involves multiple teams of people, each playing their part to make it happen. Therefore, efficient and effective management of these business functions is critical in any organisation that wants to succeed.

Equipping yourself with comprehensive and integrated knowledge of logistics can make you an in-demand candidate in the job market. Every retail organisation, small or large, has a supply chain – so this is an area where there are plenty of advancement and employment opportunities.

Studying supply chain and logistics management has many potential benefits. But, before you choose your career in supply chain and logistics, ask yourselves, do you need a degree in this subject?

Although you will find employers seeking graduates, most of the logistics and distribution/supply chain jobs are open to anyone. However, as there is undeniably a demand for highly skilled employees, studying for a qualification in supply chain and logistics could be key to achieving your dream job.

Regardless of your educational or work background, the more you learn about the global supply chain, and the sectors within it, the bigger edge you will have over other candidates when it comes to securing the role you want.

Benefits of Studying Supply Chain Management

Here are some of the top benefits of studying Supply Chain and Logistics Management today…

1.    Opens Doors To Supply Chain Careers

Studying a course in supply chain and logistics management opens up a world of opportunities. With the right qualifications and experience, you can find many supply chain management career paths that are rewarding to work in.

Now, the logistics and supply chain field is even more promising, with the US Bureau of Labour Statistics predicting a four percent job growth between 2022 to 2026. This is as fast as the average for any occupation. Job prospects are often better for candidates who have experience in the industry, you may need to consider an entry-level position, study while you work and gain insight and understanding at the same time.

2.    Master Major Objectives of Supply Chain

Studying supply chain qualifications enables you to learn and master the primary objectives of this industry. Timely delivery, competitive pricing, mobility, flexibility, and innovative transportation services are the primary goals of logistics and supply chain management.

Supply chain management aims to ensure minimum cost and maximum efficiency in handling raw material, parts, and finished goods as they move from the production centre to the ultimate consumer. In the supply chain, the end goal is for the customer to gain value from their products. A supply chain and logistics course will help you in understanding how to close significant gaps between the manufacturer and consumer. These major five gaps are: space, time, quantity, variety, and information.

3.    Improve Sales and Profitability

Studying supply chain management helps a business run efficiently. Robust supply chains generate higher profits and revenue. You can look at several areas to increase profitability including:

  • Inventory management; finding a balance between too much or not enough stock
  • Supply and pay agreements; automating processes like order placement.
  • Control of operating expenses; preventing incorrect orders and distribution errors.
  • Settlement of payments; solving late payments, invoicing missing payments.

Don’t focus solely on your logistics. Instead, consider where the cash goes within the processes and identify areas where you may generate savings.

4.    Keep Up With Trends and Challenges

Supply chain and logistics is an industry that continues to skyrocket. Keeping pace with the breakneck technological advancements of the modern era, such as AI and automation, Internet of Things, Big Data, Blockchain, Robotics, etc., is necessary. Although it could be challenging to stay on top of these trends, it is crucial to maintain the integrity of your supply chain and see your business succeed.

Studying supply chain management helps you to keep updated with the trends. Giving you the skills and knowledge to move into various sub-sectors within the supply chain. Before you know it, rather than simply following the trends, you could be ahead of the trends shaping the future of the supply chain industry.

The supply chain is proving to be a promising career path for many professionals. As a result, many employers are hunting for qualified employees. According to the Bureau of Labour Statistics, if you are searching for a promising career path, logistics and supply chain management is a bright field with a 5.8% drop in the unemployment rate.

Apart from the above benefits, supply chains are increasing salaries, benefits, and bonuses to reward their employees, as there is a growing demand for qualified candidates.

Choosing the correct course can help you excel in your chosen field.

For more information on studying the Supply Chain, or any of our other courses, don’t forget to get in touch, and follow us on Facebook, Twitter, LinkedIn, and Instagram to stay up to date with new courses, qualifications, bursaries and ways to advance your career.

Article provided by the Supply Chain Experts at IoSCM. and written by Sujith Kumar, from Edoxi Training Institute,