Have you ever wondered what it takes to produce that packet of biscuits you love snacking on with your favorite cup of tea or coffee? Or, when you are going on a date with your friends, what draws you to popular outlets like CCD, or Starbucks Coffee? Well, everything we consume for our daily needs reaches us through a series of processes. These processes are part of the Supply Chain. The management of these chains is called Supply Chain Management or SCM. If you are looking to grow in the SCM market, the Executive MBA in Bangalore provides some of the best opportunities for graduates and professionals.
Let’s understand the importance of MBA subjects in SCM and how these influence the trends related to the modern Indian economy.
Supply Chain: India emerges as a global superpower
In Economics, the supply chain is at the core. For any country to grow, its supply chain has to be very strong. Now, to understand this, one has to be clear about the forces that influence both economics and the supply chain.
The supply chain is the constant play of demand and supply and the various processes and models required to optimize these processes. India’s contribution to the global supply chain is significantly high. India is a leading exporter of many kinds of cereal, pulses, beverages, fabric raw materials, and other important items that are used for the production of various items. MBA students look out for opportunities in the biggest Indian conglomerates that play a big part in the global supply chain. Every year, 40% of the global supply chain graduates pass out from Indian colleges and they are instantly hired by the top SCM companies.
Global supply chain management is projected to be around USD 80 billion by 2030. This would mean there would be a threefold increase in the revenues from the supply chain spanning major industries. The top contributors to this growth would be retail and consumer products and goods, automotive, transport and logistics, healthcare, pharmaceuticals, food and beverages, and others. Indian market is one of the biggest for supply chain management and logistics operations, and thus requires a constant supply of great talent pool. This is achieved by staying connected with the top MBA colleges and providing these MBA colleges with consistent training and resources for graduates.
The supply chain is a matured industry
The supply chain is considered a very enriching career decision as it is one of the most mature ecosystems. Despite the strong influence of technology and business intelligence tools, there is a lot of scope for improvement in the supply chain management departments. MBA students bring a strong creative analysis to each operation, enabling companies to solve complex challenges. Supply chain management MBA programs are integrated with other specializations such as Finance, Marketing, HR, and Business Analytics. In executive MBA courses in Bangalore, graduates can learn a lot about the interesting facets of doing business in supply chain operations.
Key subjects in Supply Chain Management
Traditionally, the supply chain was treated like a material-centric subject with little or no emphasis put on how people’s behavior influences the outcome of SCM. When human behavior and efforts are added to the supply chain management, it is called an extended enterprise, with the scope to build on supply networks
A modern SCM course covers these important topics:
- Supply chain planning, demand/ supply forecasting
- Distribution centers
- Distribution resource planning
- Field inventory management
- KPIs and metrics
- Financial costs management
- Supply mapping
- Logistics and carrier analysis
- Dynamic programming
- Digital supply chain management
- Customer services management
- Social responsibility
- AI and business analysis
MBA in logistics: Career with top executive titles
Job opportunities in supply chain and logistics management are increasing tremendously. In the last 2 years, there has been a twofold rise in the number of professionals hired in the SCM industries and associated works. By 2025, there is a good chance that MBA graduates will have a 50% better chance than others passing from the top MBA colleges about getting 10x job hikes and promotions. Here are the top job roles that are hiring EMBA in logistics.
- Logistics manager
- Logistics analysts
- Local and global logistics manager
- Operations director
- Transportation manager
- Warehouse managers
- Purchase and inventory manager
- Retail merchandisers
- Operations and productions manager
- E-commerce logistics manager
- AI analysts
Additional job opportunities in the logistics and SCM industry are talent acquisition manager which could be an overarching role that requires an EMBA in HR along with SCM. Or, an e-commerce marketing manager which again could mean having an EMBA in Marketing.
In the next 10 years, as globalization accelerates and tries to reverse the effects of the COVID pandemic, global supply chain management would rely on the best EMBA graduates to develop businesses.