Why is Supply Chain Management a Good Career Path? What is the average salary?
Below are some reasons why supply chain management is a good career path. These include opportunities for developing interpersonal skills, high demand for supply chain professionals, and the versatility of a career. Many logistics sub-sectors include retail, wholesale, manufacturing, and transportation. Read on to find out if this career choice is right for you. This article will explore the various benefits of this career choice.
The average supply chain management salary is $61,915 per year, and top earners earn as much as $158,370 per year. According to PayScale, supply chain management graduates earn about $22,000 more than their counterparts without advanced degrees. In addition to the master’s degree, a supply chain management concentration can help you secure leadership positions. M.B.A.s are also paid more than those with Bachelor’s degrees.
Opportunities for interpersonal skills development
An integral component of a supply chain management system is the development of interpersonal skills. These skills complement supply chain managers’ various roles and responsibilities and promote communication and collaboration among colleagues. These skills are known as soft skills and are beneficial to every logistics professional. Here are several examples of how this skill is crucial for the supply chain management. Here are some of the ways you can develop it. If you have any plans to pursue a career in logistics, you should consider setting these skills.
Interpersonal skills go hand in hand with communication and include the art of understanding others. They also can recognize appropriate and inappropriate ways to communicate with others. Interpersonal skills encompass everything from diplomacy to tact, and they extend to the art of good leadership and teamwork. Although technology can help us listen and watch, it can’t force us to listen to people. Learning to communicate effectively requires a combination of technology and interpersonal skills.
Some people-related soft skills are more important than others. Some supply chain employers are more likely to value specific behavioral skills than others. Other supply chain employers place a greater emphasis on people management and leadership skills. The priorities for soft skills development may depend on the size and type of organization. Workplace culture can have a significant impact on soft skills and innate abilities. Learning to communicate well with others is one of the essential components of the modern supply chain management process.
The Average Salary in Supply Chain Management
What is the average salary in Supply chain management? This career can earn you a high or low wage, depending on the company and location. However, salaries generally fall in the range of $50,500 to $107,500. Top earners typically make $149,500 a year. The range of pay in this field varies by around $56,000, depending on experience and location. If you want to learn more about this career field, continue reading this article!
A new survey from the APICS, the association for supply chain professionals, has revealed that men and women are equally satisfied with their jobs. Despite the wage gap, most respondents reported a positive outlook for the future. In the last year, 90 percent of respondents received an average raise of at least three percent, and nearly all said they planned to stay in the supply chain field. The report also shows that women earn less than men, with the average salary for male respondents being almost sixteen percent higher.
The study also found a strong correlation between job satisfaction and compensation. In addition, job satisfaction can be influenced by the work environment. Managers who supervise more than 50 people earn more than non-supervisors. Managers who oversee only one to four people earn an average of $105,000. In contrast, those with at least one year of experience earn just under $40,000. In addition, a college degree can boost compensation, and recent grads earn slightly more than tenured employees.
In recent years, supply chain management has grown in size and complexity, with the average salary rising more than four percent a year. However, the salary outlook for supply chain professionals has been less specific. According to the I.S.M. Supply Chain Salary Survey, the salary average of supply chain professionals was $117,425 in 2015. This figure represents the median annual salary for people in the supply chain field. The survey also included salaries for supply chain professionals who are not members of the I.S.M. Though the survey was conducted on American workers, the data is relevant to the Canadian market. The overall picture of Supply Chain salaries remains positive, but some questions remain.
A supply chain manager’s job description is vast and involves several positions. An industry analyst interviews people from various departments to identify supply chain requirements and business processes. According to Glassdoor, the average base salary for an Industry Analyst is $43,000, with up to $75,000 for experienced professionals. As with all industries, experience in supply chain management is crucial. Moreover, the salary correlates with job satisfaction and largely depends on experience.
To enter the supply chain management field, one must have a bachelor’s degree. Various courses can be taken to attain this qualification. For example, a bachelor’s degree in business administration with a supply chain management specialization is widely available online. Further, a supply chain management education honed hard skills in various areas, such as logistics and transportation. However, it is essential to remember that the average supply chain manager’s salary depends on many factors, including education, experience, and the type of company.
The salary range of supply chain managers varies widely. Supply chain managers generally earn from $51,500 to $177,000 a year, but some positions require more experience. Most posts in this field require at least a bachelor’s degree. A specialized certification or degree can improve job prospects. However, it is essential to note that the salary range is not guaranteed. The following are some factors to consider when comparing salary ranges.
The median salary for a supply chain manager was $117,000 in 2017. The pay of supply chain directors and managers is higher. A person with at least 15 years of experience can earn up to $129,000. This range is dependent on the employer and experience level. However, practitioners with less than three years of experience can expect to earn $56,300. In contrast, those with at least 30 years of experience can earn $118,000.
Demand for supply chain professionals
The demand for supply chain professionals is growing as companies look for more ways to cut costs, increase profits and minimize waste. They also play an essential role in developing a company’s business strategy. Companies can respond more quickly to changing external environmental factors by developing efficient supply chains. In addition to working with clients on supply chain issues, supply chain professionals can help corporations create new leaders in their industry. To learn more about supply chain careers, check out the links below!
While the job outlook for supply chain professionals is generally favorable, the outlook for future employment is exceptionally bright. Thanks to promising job growth, many supply chain professionals expect their salaries to increase over the next decade. In addition to this, there are many opportunities for those with relevant training and professional development. In addition to rising pay, the industry has excellent job satisfaction. Those looking to advance in their field will find thousands of new openings shortly.
With this growth in supply chain positions, companies are increasingly turning to women for these positions. Despite this gender imbalance, supply chain professionals need to adopt a strategic mindset to be effective in their roles. The knowledge gained through cross-functional relationships helps organizations adapt to market shifts and respond accordingly. Developing “T-shaped” supply chain professionals, who have the education and experience required to succeed, will give employers a complete talent pipeline.
In addition to this growing need for supply chain professionals, the industry also needs to increase its workforce. Currently, the shortage of qualified supply chain professionals is six times greater than the supply of qualified candidates. According to a recent Pennsylvania State University’s Smeal College of Business report, the industry will grow faster than the number of talented people entering the workforce. And the supply chain professionals who will fill these jobs will be essential in the next decade.
Recruiting qualified candidates for supply chain management positions is challenging. Still, there is a growing demand for people in this field. Many companies struggle to attract and retain the right people. Luckily, many opportunities are available in the industry, making this position attractive for many candidates. A great place to start looking is a job posting in your city. It may not be easy, but it can be worth it. So, make sure to check out the supply chain jobs today! You might be pleasantly surprised by the results.
In addition to an education in supply chain management, the demand for qualified people for these positions is growing as business owners strive to create highly efficient and profitable logistics systems. With this in mind, many universities offer a major in supply chain logistics management. By graduating with a graduate degree in this field, you will be well-prepared to find a good job. With an M.B.A. in Supply Chain Logistics Management, you’ll be able to combine your hard skills and soft skills to succeed in this field.
Flexible career paths
Among the numerous benefits of a career in supply chain management is that you have the freedom to change jobs whenever you wish. A flexible career in this field means you can continue your education, find a new job, or change companies – the choice is entirely up to you. In addition, you can explore the different job titles available in this field and decide for yourself which one best suits your interests and skills.
A flexible career path in supply chain management allows you to work in different industries and specialize in various facets of the industry. Typically, supply chains are other across sectors. A person specializing in one of these areas would be a better fit for a manufacturing company than someone who works for a wholesale or retail company. However, supply chains may overlap. Depending on where you want to work, you can pursue a career in supply chain management in different companies.
A flexible career path in supply chain management may start with a bachelor’s degree and an entry-level position. You may pursue further studies to move into a senior-level or executive position. Graduate programs in supply chain management typically offer rigorous course work and real-world experience. You’ll acquire the necessary skills and expertise to navigate the industry during your education successfully. You may find the right career path for you!
Women in the supply chain industry may consider online courses. Many online learning venues offer certificates and certifications. It means you can learn new skills without spending a lot of money on a degree. The flexibility of working from home provides women the freedom to raise their families while at the same time enjoying high salaries. And if you’re a woman, you can start your journey as a supply chain professional.
Those with a background in data analytics can also excel in this field. Besides developing and implementing data-driven strategies to improve the supply chain, people with analytical skills can also succeed as supply chain solution design analysts. Many larger organizations have a supply chain I.T. department in place, so a background in data science could also prove helpful. As a supply chain manager, you’ll be able to help your company make the best use of data-driven decision-making and make it more efficient.
While deciding on a specific career path can be complex, graduate programs in supply chain management can help you find the right fit. Graduate degree programs in supply chain management expose students to project-based opportunities and networking, which will help them determine which type of work is right for them. The three most common job titles for graduate supply chain students in 2018 were operations supervisor, inventory analyst, and supply chain, associate. While these are only examples of the various job titles available, they indicate the diversity of career opportunities available to supply chain graduates.