Supply chain management (SCM) is an integral part of commerce and it involves how goods and services flow, how raw materials are moved and stored, what the inventory of work in progress is, and how completed goods are transported from the point of origin to where they are eventually consumed.
Completing a Supply Chain & Logistics Management MBA degree means that you will learn in an integrated way about SCM, and also about transportation, logistics, and operations. Once graduated, you will have an advanced concept of how these elements work individually, and also in synergy with each other. You will understand what the theories and principles are behind SCM, which include how raw materials can flow in a seamless manner, how to manage budgets and information, and how to deal with services and products. You will fully grasp how things start at the original design process, and how they end up being distributed to the consumers, resulting in consumer satisfaction. Jump to 9+ AACSB Supply Chain MBA Programs for 2017.
Why Earn a Supply Chain & Logistics Management MBA?
By completing a Supply Chain & Logistics Management MBA degree, you will have the opportunity to concentrate on a specific subject, ensuring that you have an enhanced understanding of not just SCM concepts, but also logistics management, and international operations. You will be prepared to take on any senior management position in the field of servicing and manufacturing.
Over the past 20 years or so, there has been a tremendous decline in manufacturing jobs in this country, caused mainly by the fact that new and innovative capabilities have taken over a large part of the economy as a whole. Today’s workforce is professionally trained, enabling them to manage global supply chains and internal operations not just in service and manufacturing sectors, but also in government agencies. Your skills will be needed to make sure the global facet of the manufacturing industry as it stands are managed properly, usually with a particular focus on the Asia-Pacific Rim.
There are numerous schools across the country that offer a Supply Chain & Logistics Management MBA. Each school has its own admission requirements, which tend to be very competitive. However, there are some commonalities between the various schools, and the following admissions requirements from Oregon State University are commonly seen across the board. They are:
• Transcripts of previous academic backgrounds
• GMAT or GRE, which can sometimes be waived if the student has sufficient relevant professional experience (five years or more)
• Demonstration of professional experienced through resume submission, showing accomplishment, commitment, initiative, and leadership
• Short answer questions
• Letters of references
• TOEFL or IELTS for non-native English speakers
Curriculum and Courses
As with the admission requirements, each school also sets its own curriculum. This is also why it is so important to choose a school that is professionally accredited, and preferably an accredited program. This demonstrates that the curriculum and standards of education meet the generally accepted standards. An example of courses that you can take during a Supply Chain & Logistics Management MBA has been provided by the Rutgers Business School Newark and New Brunswick, which includes the following in the curriculum:
• Demand Management for Value Chains
• Global Procurement and Supply Management
• Global Supply Chain Law
• Lean Six Sigma
• Supply Chain Management Industry Project
• Supply Chain Management Strategies
• Supply Chain Risk and Disruption Management
Career Outcomes and Job Titles
As a graduate from a Supply Chain & Logistics Management MBA, a vast array of positions will open up to you, and particularly in sectors that focus on manufacturing. You may also choose to become a Certified Supply Chain Professional (CSPS), which you can do by passing a national exam offered by the Association for Operations Management (APICS). They do require several years work experience before you can be accepted for this exam.
Common job titles include:
• Supply chain manager
• Logistics manager
• International relations manager
• Asia-Pacific Rim representative
• Purchasing manager
Job Salary & Outlook
According to the U.S. Bureau of Labor Statistics (BLS), logisticians earned an average of $74,260 per year as of May 2015 if they have a bachelor’s degree. Holding an MBA has been shown to add around $15,000 to an annual wage, meaning you can expect to earn in the region of $90,000 per year. However, the BLS has also stated that job growth by 2024 will be just 2%, which is slower than the national average.
Scholarships and Grants
• P.E.O. International Peace Scholarship, which is given to those who can demonstrate need. However, this has not been designed to cover all personal or academic expenses. Rather, applicants must demonstrate which other financial resources they have in order to be able to meet their expenses. Examples include family or personal funds, employment scholarships, tuition waivers, study grants, teaching assistanships, and other scholarships. The highest award is $12,500, but the actual award is based on individual need.
• AAUW Career Development Grant, which is designed to provide assistance specifically to women who want to make a career change, advance their career, or reenter the workforce through participation in professional development, technical training, or higher education. Women without current advanced degrees, women looking for work in nontraditional fields, and women of color are given priority.
• Daughters of the American Revolution Lillian and Arthur Dunn Scholarship, which is valued at $2,500 and offered for a four year period to two individuals, who must be a son or daughter of NSDAR members. Each year, the scholarship will be renewed so long as the recipient maintains a 3.25 GPA. Every year, people can reapply for the grant as well.
• Alpha Kappa Alpha Graduate Scholarship, which offers a one year, one time only grant to full time students who study at an accredited institution towards a degree. They must also hold a 3.0 GPA minimum and have to demonstrate involvement and service in the community.
• QS Leadership Scholarship, which offers $10,000 scholarship each to those who have attended the QS World Grad School Tour and completed a registration form while they were in attendance.. It has been designed specifically for those who can demonstrate excellence in leadership.
• Association for Operations Management (APICS)
• International Federation of Purchasing and Suppy Management (IFPSM)
• Council of Supply Chain Management Professionals
• Institute of Supply Chain Management (IoSCM)