Is It Worthwhile to Pursue a Career in Supply Chain and Logistics?

When it comes to picking business careers, there really only seems to be a handful of them that tend to stand out to most aspiring graduates.

That includes the likes of investment banking, consulting, private equity, among some others.

However, there are still other options out there when it comes to business careers, that can certainly allow you to earn a good income and develop the necessary skills and experience you’ll need to be able to take on the harsh and competitive world of business.

Among these alternative career paths, supply chain management is one of the most popular choices, particularly because it allows you to be a part of one of the more rewarding and impactful roles within a business or company.

A career in supply chain management can open up huge opportunities for professional development and career growth, as well as fulfilling work and a lucrative return as well.

Let’s take a look at what this all means, and why pursuing a career in supply chain management might be the right fit for you.

What is Supply Chain Management?

Firstly, let’s get the basics out of the way.

Supply chain management refers to the oversight and management of how goods and services operate within a business.

It is focused on making the logistics within a company operate as smoothly and efficiently as possible, to minimize costs/wasted resources, and maximize profits.

This will include overseeing the production, storage and transportation of goods and services both in, around, and out of a business.

Supply chain experts will conduct careful analyses of data and reports to look for ways to optimize the logistical procedures of their company, through making adjustments to existing processes, or introducing new procedures.

It’s all about managing the way that products and services are supplied to and from partners/vendors, as well as how they are handled in-house.

As you can probably imagine, this is a pretty important job that requires serious industry knowledge and business experience; the decisions made in these roles can be monumental and shift entire business dynamics.

Possible Career Paths in Supply Chain Management

Procurement Specialist

Supply chain procurement is a popular choice of career path in the supply chain space.

Procurement specialists are essentially the gatekeepers of the supply chain. They are responsible for sourcing and purchasing raw materials or goods, essentially managing the supply chain operations inbound to the company that they work at.

Procurement specialists will negotiate contracts on behalf of their company, ensuring favorable terms and building enduring relationships with suppliers or business partners.

Logistics Manager

Logistics managers will oversee the transportation, distribution, and warehouse management.

They will look to reduce inefficiencies and optimize the operations of their warehouses, storage, transporting of goods, and inventory management.

Supply Chain Analyst

Supply chain analysts will utilize data analytics and reports to look for trends and conclusions that they can draw on their companies’ current supply chain management.

They will use this data to look for ways to maximize efficiency and implement new strategies/procedures to try and reduce costs, while continuously improving upon existing processes.

Operations Manager

As you might be able to guess from the name, operations specialists and managers will oversee the internal processes within a company to ensure that the company operates as smoothly and efficiently as possible.

This will include things like quality assurance and control measures, as well as compliance management, and facilitation of day-to-day operations.

Of course, within each of these career paths, there are bound to be entry level positions, mid-tier positions and more senior positions as well.

Generally, work becomes more and more administrative the higher up you go, regardless of which field of supply chain management you’re situated in.

Now let’s take a look into the entry requirements that you might need to meet if you’re wanting to pursue a career in supply chain or logistical management.

Entry Requirements for a Career in Supply Chain

Contrary to popular belief, a college or university degree isn’t actually necessary to have if you’re wanting to get into the supply chain space.

You can certainly break into entry level positions with a few years of relevant work experience, accredited qualifications, or an associate’s degree.

It’s not like investment banking or law where breaking into the industry without a degree is near impossible.

It’s very doable in the supply chain space.

From then on, you may be able to work your way through the ranks and eventually get to management-level positions.

Do You Need a Degree?

While you can break in without going to college, however, having a bachelor’s degree is still going to be advantageous.

While specific requirements may vary, a bachelor’s degree in supply chain management, business, or a related field is often favored by employers.

Without at least a bachelor’s degree, your CV and resume won’t look as impressive, and you might face more resistance when trying to experience career growth or advancement into higher positions.

Plus, some professionals choose to further improve upon their credentials with advanced degrees, such as the coveted Master of Business Administration (MBA).

Having these degrees makes it significantly easier for you to get your foot in the door in the world of business, especially if you’re aspiring to reach leadership and managerial roles.

In addition to your qualifications, having completed internships or work experience programs in entry-level positions can also help boost your credibility and improve your chances of securing a job.

So, what’s the takeaway?

Well, a degree isn’t NECESSARY for breaking into the supply chain space, but having one is going to make things significantly easier for you, unless you’re really the cream of the crop who knows how to maximize their time productively instead of going to school.

What’s the Lifestyle Like in Supply Chain Management?

Businesses are continually innovating and competing against each other to maximize efficiency to gain a competitive edge over their counterparts.

This makes supply chain management a very fast-paced field that demands lots of adaptability and organization, as well as critical thinking.

While some professionals work primarily in corporate office settings, others might commonly find themselves traveling to and visiting warehouses, manufacturing plants, or distribution centers.

For many, this isn’t the type of job where you’re stuck sitting in an office all day at all.

The job can be demanding, with workers typically clocking in anywhere between 40 and 60 hours a week, depending on the time of year and their seniority.

However, especially during peak seasons, overtime and weekend work is often expected by managers and employers.

Thankfully, the integration of technology in supply chain management provides a good level of flexibility, allowing for many to work remotely as well, which is always a plus.

Since occasional travel might be pretty significant part of the job, particularly for those overseeing global supply chains.

This dynamic aspect of the job and industry adds an extra layer of excitement and variety to the day-to-day workflows, attracting more skills professionals into the space.

Skills Development:

There are plenty of valuable skills that you’ll get the chance to develop from working in the supply chain industry.

Let’s take a look at what some of the key ones are, and how they relate to supply chain management.

Analytical Skills

Professionals working in the supply chain management space must regularly interpret data and reports, use them to make informed decisions, and utilize advanced analytical tools for forecasting and searching for optimization opportunities.

Communication and Negotiation

Supply chain specialists regularly have to build and maintain strong relationships with suppliers, partners and clients.

This means that you’ll be sure to develop some solid communication and negotiation skills from your work experiencer in the supply chain space.

On top of this, you might find yourself presenting reports and presentations to senior team members or clients, which will further help boost your comfortability in communication.

Problem Solving

Supply chain management is all about finding inefficiencies within the logistical operations of a business, and finding solutions to streamline things.

Naturally, this means that you’ll develop a strong set of problem solving skills from your time spent working in supply chain management, and make yourself a much more valuable, marketable and desirable candidate for future prospective employers!

Project Management:

Supply chain professionals will often find themselves managing complex projects with tight timelines, under lots of pressure.

Despite this, they’ll still need to ensure that there is efficient resource allocation, budget management, and the ability to coordinate multiple moving parts for the project to run smoothly.

Project management is one of the most sought after skills in the dynamic world of business; and you’ll learn just that in a supply chain management position.

Compensation

As you might expect, a career in supply chain management won’t be able to pay you what those working in more cutthroat industries like investment banking or consulting might earn.

However, it can still be very lucrative.

Graduates in the USA can often expect to earn around $60k-$70k, with salary progressions potentially going beyond $200k at the director level, and beyond $350k at the vice president level at the later stages of your career.

Definitely not a low paying field by any means.

Now, for other geographies and job markets, you’ll probably have to take a little bit of a pay cut, where your salary might be roughly the same number, but in your own respective country’s currency if it’s in dollars (think Australian dollars, New Zealand dollars, Canadian dollars, etc.).

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Conclusion

A career in supply chain management can certainly prove to be lucrative and worthwhile, especially if you’re a hard worker, adaptable, and have good communication skills.

It’s a good alternative and a different pathway from the traditional investment banking, accounting and consulting roles we might all think of when we think of the business and corporate world out there.

Who knows, supply chain management might just be the right fit for you!

I hope you’ve enjoyed reading through this article, and have found it useful.

If you did, I’d highly recommend that you check out the rest of the Medium publication; Grad Excel to learn more about business careers and making the most of your own career prospects!