Logistics and supply chain management (SCM) are related but are distinct fields. Logistics focuses on the streamlined management and delivery of products to customers. This process encompasses the planning, coordination, and execution of activities from the point of origin to the point of consumption.
On the contrary, supply chain management (SCM) involves coordinating all activities that control the development of raw materials into finished goods. This process facilitates sourcing, procurement, and conversion of goods from the the supplier to producer to warehouse to retailers and consumers.
In today’s dynamic world of advancing e-commerce, smooth logistics and supply chain management is critical. With growing market demands and an increasing consumer base, logistics and supply chain management can be an excellent course for you to study.
Modern and successful businesses are investing more in improving their logistics and supply chain management solutions than just focusing on raw materials and processing.
A well-managed supply chain and smooth transportation throughout the country or overseas ensure the products reach their destinations on time. Due to this, the jobs in supply chain management are also in high demand. In this blog, we will discuss logistics and supply chain management in detail to help you decide if it is an excellent career for you.
Why is Logistics and Supply Chain Management Important for Businesses?
The supply chain must keep up in a world where the demand for products and services is ever-growing. When you work in a company that focuses only on the production and processing part, there are bound to be losses.
However, companies that maintain a balance by focusing on production and optimizing the supply chain can cut extra costs, increase efficiencies, improve inventory management, ensure appropriate use of warehouses, enhance production rates, and deliver higher client & vendor satisfaction.
Logistics and supply chain management has become a field of its own in the manufacturing and e-commerce sectors. Thus, it is not hidden that the supply chain, procurement of raw materials, processing, and transportation are critical elements for these sectors.
As the industry is lucrative and there is an extensive scope to grow in logistics and supply chain management professions, many people are interested in building their careers. If you fall into the same category, you must gain some insights about this industry. So, let’s get started!
Things to Know Before Starting a Career in Logistics and Supply Chain Management
Here are a few things you should know before you enter the world of Logistics and supply chain management:
1) High Industry Potential
A lot of people don’t think of the logistics industry as a career prospect, but the fact is that this industry is proliferating.
The logistics and SCM industry is expected to grow steadily from 2021 to 2030. By 2028, the logistics industry scale is projected to exceed 14.08 trillion U.S. dollars. These numbers clearly show that this industry is a safe bet for young, skilled graduates.
With more and more people preferring jobs in e-commerce, logistics, and SCM industry, it can be a promising career with numerous growth prospects.
2) It’s Not Just About the Goods and Materials
Logistics and supply chain management seem like a tedious job, only circling around materials, goods, and warehouses, right? But, actually, it covers more than that. That might be an important part of the career, but it will also help bring out your inner leader, and you will be able to learn numerous things, such as :
- Data Analysis
- Problem-Solving
- Inventory Management
- Interpersonal Communication Skills
- Accounting Skills
- Risk Management
3) Hone Required Skills
If you think that you only have to handle data, transport, and the processing part of the industry, you are wrong.
In the e-commerce industry, people skills are a no-brainer. You will have to deal with a lot of people on a daily basis, which will require some skills, such as active listening, negotiation, conflict resolution, leadership, decision-making, and much more.
Tip: Make sure you sound confident in front of the people you manage while presenting solutions and plans to your seniors.
4) Deal with Challenging Situations
No-brainer, right? Yes, you’ve heard it before- “every kind of work is challenging”. Well, so is handling logistics and supply chains.
You will have to improve your people skills as well as sharpen your eye for details. In the logistics field, problems are bound to arise. It might fall upon you to scour everything and devise a solution.
Bottom Line: You will always need to have your socks pulled up to overcome those challenges.
5) No Fixed Workplace
Logistics and supply chain management aren’t conventional desk-type jobs. You cannot expect to sit all day dealing with data.
You will have to handle and manage more than just data, which means that some days, you might have a desk job, and other days, you work from a factory or meet a client. Sometimes, you might also manage work from a pickup point.
It isn’t a 9 to 5 desk job, as your week-offs can be different, and so can your shift timings. Thus, you need to keep in mind this factor before you opt for this as your career.
6) Market Demand
The market demand for the industry has seen a constant rise after the pandemic, leading to a rise in employment opportunities as well. The logistics industry worldwide was worth over 8.4 trillion euros in 2021 and is expected to exceed 13.7 billion euros by 2027. Making this arena even more favorable as a career.
7) Put That Degree to Good Use!
A degree in logistics and supply chain management might not be very prevalent. However, it is a professional course that will boost and curate your skills for the ecommerce industry.
A degree in logistics and supply chain management will prepare you with all the skills for the job. You can also choose the area(s) of logistics you wish to go into- operations, service, finance, freight, sales, etc.
8) Understand the Bigger Picture of the SCM
There is always a more extensive and unseen picture of any job in a company or industry. In the SCM sector, you get to understand trends and costs as you work in different industries and job roles.
When you optimize every area of the SCM, sooner or later, you see the bigger picture and understand how you can excel in this field.
Better planning, cost-cutting, alternate ideas, etc., are some of the learnings you can use if you encounter an issue that needs to be resolved.
9) Choose your Own Vertical of Interest in Logistics
Unlike some industries and professions, there are different roles you can opt for as a trained logistics and SCM professional.
If you are a student in the same field, you can experience the work environment and the different processes involved. Knowing the diverse roles this sector can offer and matching them with your interests and skills will help you achieve wonders by becoming a specialist in your job role and getting a better position.
Conclusion
The e-commerce industry is booming globally, and along with it, the logistics and supply chain management industry is also growing. It is one of the most steadily growing professions, so the need for well-trained individuals for SCM is increasing.
While a course tells you a lot of things about the profession, there are always some sources you wish someone had told you about the same. We are still OK if you thank us later!
FAQs
- Is Logistics and Supply Chain Management a good career option?
SCM and logistics can be challenging. However, it is also very satisfactory and doesn’t require too many academic credits either. It totally depends on you as an individual, but being a lucrative industry, you can earn well and grow if you have the required skills. Overall, it is a great career option.
2. Is logistics a challenging sector to get into? What qualifications are required to get into the SCM sector?
It is not a difficult sector to get into. However, the industry expects you to be well-versed in the basics when you are in this profession. A degree or a diploma in logistics and supply chain management is required. You will also need a lot of analytical and problem-solving skills in this profession.
3. How long is the duration of a degree course in SCM?
In India, many institutions offer post-graduate and MBA degrees in Logistics and Supply Chain Management. The course duration can vary depending on the institution, but it is generally two years.
