The U.S. logistics industry, which uses supply chain management to procure goods and resources and deliver them to customers all over the world, transports 48 million tons of freight valued at $48 billion every day. This trillion-dollar industry has an estimated six million people on the payroll and needs to fill 1.4 million jobs, or roughly 270,000 per year, by 2018.
As a result, the industry is desperately recruiting for hard-to-fill jobs due to the complexity of the work. An online MBA program in supply chain management can help meet this talent gap. This type of degree program prepares students to divigate the demands of this exciting industry. These MBA students learn how to analyze problems and develop effective solutions, evaluate a company's background from various perspectives and expand leadership and teamwork capabilities.
What Is Supply Chain Management?
Working with suppliers, understanding international trade regulations and tapping procurement expertise are among the components of supply chain management. Additionally, being savvy about information technology and working well with customers, team members and others are all essential skills in the industry.
Many Vacant Supply Chain Job Openings
As older workers retire, younger ones are just starting to hear about the logistics industry, which operates largely unseen due to the nature of the work. Employers say it is difficult to find qualified applicants in the following areas: robotics, analytics and engineering, among others. The booming supply chain management field is also hiring marketers, data analysts, and HR executives among other roles.
Good Career Path; Very Low Unemployment
The ongoing digital revolution in the global market is also spiking job growth in the industry. Companies have to rework their supply chains to meet demands for electronic products in a matter of months, not years, according to Michael Hugos, author of “Essentials of Supply Chain Management.”
Payscale.com, a salary information website, also shows that those with this degree are "extremely satisfied" in their jobs, and popular companies for these MBA graduates include Intel Corporation, Amazon.com, Johnson & Johnson and Ernst & Young.
MBA Students Get Great Compensation
In addition to its low unemployment rate, the logistics industry also offers a steady career path that pays very well. Glassdoor.com, the jobs and salary website, estimates the average salary for a supply chain manager at over $91,000.
Supply chain management salaries vary by location, company and education level, as do most professions. According to Payscale, MBA graduates with a supply chain focus work in a variety of roles, including supply chain manager, operations manager, commodity manager, and supply chain analyst â€“ all of which can lead to six-figure salaries.
Global Is the Word of the Day
Global markets are the norm, and working in supply chain management requires an international perspective since the U.S. both exports its products and imports goods from other countries. Successful supply chain professionals operate with a large mental framework and know how to work with people from all over the world.
Online Programs Can Help Make up the Talent Gap
Gearing up for a supply chain management career is another reason to check out an online MBA program. Students will gain a solid overview of marketing, accounting, global logistics, business and public policy. They will gain the practical skills needed to face real-world business problems, such as
- Analyzing problems
- Developing effective solutions
- Creating sound logistics processes
- Realizing and appreciating the global marketplace
The U.S. logistics industry is massive and those with an MBA in supply chain management are prime candidates to fill the employment gaps.
Learn more about the UWF online MBA in Supply Chain program.
SupplyChainBrain, "Bridging the Talent Gap in Supply-Chain Management," Sept. 30, 2013.
Fortune, "Wanted: 1.4 million new supply chain workers by 2018," May 1, 2014.
U.S. News & World Report-Education, "3 Things to Know About an MBA in Supply Chain Management," Sept. 19, 2013.
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