Supply Chain Management: Best Courses, Career Opportunities, and Benefits
Updated on: September 02, 2024
Supply Chain Management: An Introduction
Living in today's global economy, interconnected by pretty much everything, one increasingly hears the term "supply chain." But what is a supply chain, and why is it so important to our daily lives? In this blog, we will explain how this simple term refers to a diverse set of processes that have been influencing commerce between humans since the beginning of time. We will also explain the seminal importance of supply chain management and some of the best supply chain courses you can pursue, including the MBA in Logistics & Supply Chain Management from SGT University, one of the best MBA colleges in Delhi NCR.
What is Supply Chain Management?
Supply Chain refers to a system, consisting of people, organisations, and processes, that are responsible for the transfer of goods from the point of production to the point of consumption. At their core, all supply chains involve a few key steps:
- Sourcing raw materials
- Refining and processing them into finished products
- Resupplying processing centres with more raw materials
- Selling and delivering finished products to final consumers
Supply Chain Management (SCM), within this context, is overseeing these activities and optimising them to ensure maximum customer value and organisational benefit.
The Silk Road in the 2nd century BCE was one of the first examples of a global supply chain, helping connect the East and West for trade in spices, textiles, pottery, and more. Today, supply chains are immensely complex networks that are constantly updated and modified.
Benefits of Supply Chain Management
- Cost Reduction: By identifying inefficiencies and savings opportunities within the supply chain.
- Increased Productivity: Through clear SOPs, constant evaluation, and fast decision-making.
- Better Customer Satisfaction: With timely and accurate deliveries.
- Better Risk Management: Through constant monitoring and effective contingencies.
- Increased Competitiveness: Products can go to more markets if the supply chain is managed efficiently at scale.
Impact of Supply Chain Management
Supply chains play a big role in all aspects of our lives, from the food we eat to the clothes we wear. Some of the major sectors which cannot survive without effective supply chain management are:
- E-commerce: Speed and accuracy are the whole USP of this sector. Big players like Amazon and Flipkart ensure seamless experiences.
- Food and Beverage Business: Quick, temperature-controlled transportation is critical for perishable items.
- Healthcare: Zero tolerance for delays, especially for time-sensitive materials like vaccines.
- Technology: Products are distributed globally from manufacturing bases in Asia.
Role of a Supply Chain Manager
- Selecting and evaluating suppliers and distributors
- Negotiating contracts and prices
- Optimising inventory levels across locations
- Coordinating with manufacturing and transport teams
- Ensuring efficient order fulfillment
Best Supply Chain Management Course: MBA from SGT University
| Particulars | Details |
|---|---|
| Course Name | Master of Business Administration (Logistics & Supply Chain Management) |
| Institution | SGT University |
| Department | Faculty of Commerce and Management |
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| Eligibility | Any graduate with a minimum of 55% marks in their bachelor's degree |
| Course Fees | INR 2,00,000 (Per Semester) |
Conclusion: Choose SGT University for Your MBA
As we've explored in this comprehensive blog, supply chains are the lifeblood of modern commerce, touching every aspect of our lives. Supply chain management offers exciting career opportunities for those who are ready to take on the challenge of optimising these complex systems.
By choosing to pursue an MBA in Logistics & Supply Chain Management from SGT University, one of the best MBA colleges in Delhi NCR, you are making the choice to be with an institution that prepares you for the challenges of the world like no other. With 10,000+ globally-placed alumni and a nearly 90% annual placement rate, SGT University has a track record spanning over a decade, of improving and optimising according to future needs!
Embrace the supply chain revolution by applying today and prepare yourself for a rewarding career that makes a real difference in the world.
Supply Chain Management: FAQs
- What do you mean by supply chain? Supply Chain refers to a system, consisting of people, organisations, and processes, that are responsible for the transfer of goods from the point of production to the point of consumption.
- What is the concept of SCM? Supply Chain Management (SCM) oversees the entire supply chain network and optimises it to ensure maximum customer value and organisational benefit.
- What is the supply chain process? At their core, all supply chains involve a few key processes:
- Sourcing raw materials
- Refining and processing them into finished products
- Resupplying processing centres with more raw materials
- Selling and delivering finished products to final consumers
- What is logistics? Logistics is a subset of supply chain management that focuses specifically on:
- Moving and storing goods
- Order fulfillment
- Distribution
- Which course is best in supply chain management? SGT University, one of the best MBA colleges in Delhi NCR, has an MBA in Logistics & Supply Chain Management that will set you up for a successful job in any part of the supply chain network.
- What is the highest salary for SCM? Graduates of SGT University’s MBA in Logistics & Supply Chain Management programme may earn anywhere from 10-20 LPA as a Supply Chain Manager.
- How long is a supply chain course? SGT University, one of the best MBA colleges in Delhi NCR, offers a 2-year MBA in Logistics & Supply Chain Management programme.
- Is SCM a good career for girls? Absolutely! In fact, female participation in global supply chain management is only increasing and will only get better.
