Businesses nowadays are involved in cut-throat competition with each other. Whenever a new business opportunity presents itself, the race to reach the customers first starts amongst the existing players in the field. The ease of doing business has improved quite significantly over the years. Small companies with unique products that effectively address customers’ pain points are growing fast. To emerge as a winner in the harsh business environment, the companies have to focus on every detail of the entire business operation, from procuring the raw material to ensuring the timely delivery of the product to customers. Companies hire skilled professionals from specific fields to help them achieve their targets. One such domain which has become essential in current times is Supply Chain Management.
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What is Supply Chain Management?
Supply Chain Management (SCM) is the entire process of manufacturing a product, from procuring raw materials to delivering the final item. Supply Chain Managers have to work on smoothening the process by ensuring the timely completion of the job with the least possible cost. SCM is one of the essential aspects of the business, which helps enhance the company’s profit.
How can you gain knowledge in the field of Supply Chain Management?
- Getting a degree-
The traditional and most popular learning method gives you an in-depth knowledge of the field. You can even get a job as a Supply Chain Manager through on-campus placement sessions.
- Work Experience-
The best way to learn is through practical experience. You can opt for internships to learn about SCM in more detail.
YouTube is, hands down, the most feasible way to enhance your knowledge. There are short videos as well as long documentaries on any topic. You can learn according to your pace from your favourite creators.
Podcasts are becoming increasingly common nowadays. You can listen to the famous and experienced people in your field and learn about SCM from them.
Many books written by experts in the field explain various aspects of the topic from their viewpoint. Books help you develop your perspective and enhance your understanding greatly.
Top 10 Supply Chain Management Books
1. Strategic Supply Chain Management: The Five Core Disciplines of Top Performance, by Shoshanah Cohen and Joseph Roussel
This supply chain management book talks about good supply chain management strategies and how to implement that into your own business. According to the authors, one strategy is not efficient for all types of business. Instead, the strategy should be tailored to the needs of the company. The book also explains the five disciplines that supply chain managers should consider.
2. Principles of Supply Chain Management: A Balanced Approach, by Joel D. Wisner
This book takes you through each step of Supply Chain Management. It focuses on all the essential aspects of Supply Chain Management, such as logistics, purchasing raw materials, etc. The author has explained various real examples, which enhances the understanding even more.
3. Lean Supply Chain and Logistics Management, by Paul Myerson
Considered one of the best books on Supply Chain Management, the book focuses on how one should single out the ineffective components of Supply Chain Management. The book also describes lean methodology and tools and how to use them to your advantage.
4. The Forklifts Have Nothing To Do, by Joseph L. Walden
Written by an author having 25 years of experience leading supply chain operations, the book gives excellent insights into supply chain operations. It contains practical improvement methods for smoother SCM and better company profits eventually.
5. Managing Supply Chain Operations, by Lei Lei, Leonardo Decandia, and Rosa Oppenheim
This supply chain analytics book focuses on various determinants of Supply Chain Management, such as demand forecasting, capacity analysis, and inventory management. There are also case studies and strategies in the book which help you get your foothold strong in the subject.
6. Avoiding a Supply Chain Apocalypse: Be Ready For Any Supply Chain Disaster, by Tom DePaoli
The book offers several approaches which can be followed to ensure smooth Supply Chain Management. It includes solutions to identify and correct supply chain mistakes and run a supply chain based R&D department.
7. Essentials of Supply Chain Management, by Michael H. Hugo
The supply chain management book clearly explains the management and operation of the supply chain. It contains guides and real-world examples of various supply chain activities adopted by the companies.
8. Supply Chain Metrics that Matter, by Lora M. Cecere
Through this book, you will be able to understand various impactful steps to use the supply chain effectively to provide help to the company. It lives up to its title well.
9. Supply Chain Management for Dummies, by Daniel Stanton
This is a comprehensive guide that helps manage all aspects of a business, such as sales and purchasing. This leads to a positive impact on the supply chain of the company, hence boosting overall efficiency and business growth.
10. Supply Chain Revolution: Innovative Sourcing and Logistics For a Fiercely Competitive World, by Suman Sarkar
The supply chain analytics book presents valuable insights for companies to excel in the current business environment. It lays out strategies on how to satisfy the consumers.
If you are interested in building a career in the field of Supply Chain Management, you can check out Michigan State University’s Global Master Certification in Integrated Supply Chain Management in collaboration with upGrad. You get the chance to learn from the live sessions hosted by the esteemed faculty of Michigan University. You also get the opportunity to interact and learn from your peers spanning all over the world. There are also one-on-one mentorship calls and interview preparation help available for the students.
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There are a lot of employment opportunities created in a field due to the increasing need for specialised individuals. The business wants to have a strong team that can assist them in reaching their goals faster. Supply Chain Managers are one such group of expert professionals who are in huge demand due to the excellent strategies they devise that help the company achieve its targets. Many youngsters are opting for this career path for the field’s excellent exposure.
At upGrad, we have guided students from all around the globe and helped them land the perfect job in SCM. Check out our Global Master certificate in Integrated Supply Chain Management to get more details about our offering. This MSU accredited course runs for six months and provides you with all the information and guidance needed to begin your SCM journey.
What is the average salary of a supply chain manager?
Supply Chain Management is an emerging field which offers tremendous monetary compensation and an excellent opportunity for future career growth. The average salary for a supply chain manager in India is around INR 8,87,374 PA. The number can vary according to the experience level, job location, and company.
What are some of the institutes offering a degree in Supply Chain Management?
Supply Chain Management is becoming one of the most sought-after degrees among youngsters due to the field's broad scope. Some of the famous institutes in India offering a degree in Supply Chain Management are IIM Calcutta, IIM Lucknow, and XLRI Jamshedpur.
What is the career scope in Supply Chain Management?
Supply chain management is growing at a faster rate currently. With the digitisation and ease of business happening worldwide, the need for supply chain managers will also rise. The global supply chain management market is projected to grow at the rate of 11.2% from 2020 to 2027.