If you are earning an MBA degree at Limestone College, one of the courses you’ll take is MG620 Supply Chain Management. In this course, you will learn to analyze the supply chain system in order to maximize efficiencies and limit costs.
But what is supply chain management and why is it important?
The Council of Supply Chain Management Professionals offers the following definition:
“Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies.”
Put simply, supply chain management plays a critical role in improving efficiency and effectiveness of how products and services are ultimately delivered to customers and as such can be critical in gaining competitive advantages. Supply chains may include everything from the initial raw material sourcing to product manufacturing and distribution.
Managing this complex supply flow system often relies on information systems. Take for example the case of Walgreens. As one of the largest chains in America specializing in filling prescriptions, Walgreens invested in the technology that improved its ability to collect, analyze and synthesize key data in order to forecast sales. By analyzing flu patterns, the company was able to accurately forecast the demand for flu remedies, thus reducing the need for excess inventory, warehousing, transportation and ultimately lowering waste.
Limestone MBA students interested in supply chain management careers can search common jobs titles such as supply chain manager, strategic sourcing manager, materials manager, industrial production manager, risk manager, logistics manager, distribution manager and purchasing manager.
Supply chain managers often advance to more senior positions such as supply chain directors or assume positions as operations directors. According to PayScale.com the median salary for a supply chain manager is $81,000 and the employment is projected to grow 22 percent from 2012 to 2022. Similarly, in South Carolina, an average salary for a logistics manager is $68, 640.