Online Master - s in Supply Chain Management

Online Supply Chain Management Master’s Degree. Online Degrees in Business. Online Supply Chain Management Degree: An Overview. Supply chain management is dedicated to coordinating organizations' goods and services. The supply chain of a business includes the use and storage of raw materials, the tools and equipment used during production and the transportation of finished goods to consumers. In each of these areas, organizational leaders are constantly striving to increase efficiency, drive down costs and boost revenues. The importance of supply chain management has become a point of emphasis in recent years, due to both the influence of the digital age and innovation throughout all industries. Professionals who earn degrees in supply chain management learn how to effectively manage the flow of products, information and funds among companies, suppliers and their customers. Students seeking to enter the field can pursue an online master’s degree in supply chain management or complete an online MBA program with a concentration in the subject. According to PayScale, an online salary database, supply chain managers earn a median salary around $80,000. An online supply chain management master's program offers flexibility for students who are also working professionals. Web-based programs typically follow the same rigorous curricula as brick-and-mortar options, leading to similar advancement opportunities for graduates. The online format is also ideal for students who must tackle additional commitments – such as child or family care – on top of their work and class schedules. What is the difference between logistics and supply chain management? The terms "logistics management" and "supply chain management" are often used interchangeably, but they're not exact synonyms. Logistics refers specifically to interorganizational processes required for moving goods and services from the point of production to the point of consumption. Supply chain management, however, refers to all processes that take place during production and involves not only the manufacturer but also distributors, wholesalers, retailers and consumers. In short, logistics is a subset of the larger process of supply chain management primarily concerned with boosting profits and meeting customer expectations. How long does it take to earn an online master's in supply chain management? Like their brick-and-mortar counterparts, most online master's in supply chain management degree programs are designed for completion in about two years. Some accelerated options allow students to earn their degrees in as little as 12 months. Conversely, some dual-degree tracks may require more than two years of full-time study. The typical master's in supply chain management online program requires 30 to 45 credits. How much does an online master's in supply chain management cost? The cost of an online supply chain management master’s degree depends on several factors. State residency is an important consideration, since many colleges and universities charge higher tuition for out-of-state students. However, some schools charge flat tuition for online students regardless of state residency. Technology fees are another key factor; these fees often apply to online students but not their brick-and-mortar counterparts. Per-credit costs for an online master's degree in supply chain management can range from $400 to $1,500. Students should expect to pay between $12,000 and $50,000 in total tuition. Online master's in supply chain management admissions requirements. Admission requirements for a master's in supply chain management online program vary by institution. Some programs require candidates to have earned a bachelor's degree in supply chain management or a related field, such as business administration or industrial engineering. Work experience may also be required; two years is sufficient for most programs. Students may also be required to submit scores from the GRE or the GMAT. Additionally, some schools require applicants to submit a resume and letters of recommendation. Choosing an accredited online supply chain management degree program. Accreditation status is one of the most important considerations for prospective students. Colleges and universities in the U.S. receive accreditation from agencies recognized by the U.S. Department of Education; the accreditation process involves an extensive review of a school's educational programs and student services. A school's accreditation impacts course credit transferability, as well as student eligibility for federal financial aid, so students should ensure the school offering the program has earned national or regional accreditation. Online Coursework. Example courses. Supply chain project management Quality engineering and management Supply chain transformation and innovation Logistics operations and methods Contract pricing and negotiations. The curriculum of an online master's in supply chain management is typically divided into two categories: core courses and electives. Core courses revisit topics that are typically explored during undergraduate studies, such as logistics systems, purchasing, ethics, international business, distribution fulfillment and operations methods. These courses build on core subjects by introducing more advanced theories, techniques and approaches to supply chain leadership and teach students how to solve problems and address concerns at different stages of the supply chain. Students also complete core coursework in subjects like supply chain transportation risks, finance, project management and inventory management. Elective courses often concern niche areas of supply chain management that may be touched on in core/foundational courses but not discussed at great length. Many electives focus on technological tools and platforms. Others discuss supply chain demands in specific industries or various ways that supply chains differ around the globe. Capstone experience. Capstone experiences are a common requirement in online master's in supply chain management degree programs, as well as in MBA pathways with a supply chain specialization. Some capstone experiences take the form of a comprehensive research project or mock business plan, in which students must address a real-world issue in supply chain management. Other capstone experiences involve an internship or other forms of hands-on training. Professional Associations in Supply Chain Management. Professional organizations can serve as valuable resources for students in supply chain master's degree online programs and recent graduates. These organizations offer professional development, certification opportunities, networking events, online libraries of journals, industry publications and career counseling. Many allow students to join at discounted rates. Three of the most prominent professional organizations in supply chain management are outlined below. Council of Supply Chain Management Professionals : Launched in 1963, the CSCMP offers the SCPro certification, a three-tiered training program that primarily focuses on industry intelligence and virtual learning technology. Standard membership is $325 per year, but students can join for $40. Other individuals, such as those who have recently become unemployed, can renew their membership at a discounted rate. Institute for Supply Management : Members of ISM can pursue two certifications – the certified professional in supply management and the certified professional in supplier diversity – and receive training through the 16-part ISM Mastery Model learning directory. The institute also holds an annual conference and hosts various in-person and online seminars. APICS : Founded in 1957, APICS has grown to represent about 45,000 members in more than 100 countries. Members can pursue three professional certifications: the certification in production and inventory management; the certified supply chain professional; and the certification in logistics, transportation and distribution. Example courses. Supply chain project management Quality engineering and management Supply chain transformation and innovation Logistics operations and methods Contract pricing and negotiations. Job Outlook and Salary. Although the Bureau of Labor Statistics does not project substantial job growth in supply chain management, jobs in the field are well-compensated, and those with a master's in the field should be well-positioned to fill them. As U.S. News reported, “Among employers who responded to a survey by the Graduate Management Admission Council, 27 percent were actively seeking graduates from supply chain management master's programs,” according to the council's June 2016 report . What jobs can you get with a supply chain management degree? Supply chains involve an extensive number of personnel. Those with a master's in supply chain management are qualified to lead various teams and coordinate operations between different divisions. Directors of supply chain management : These directors oversee every aspect of their company's supply chain, including acquisition of goods and materials, production and distribution. They are responsible for determining fair prices, keeping an up-to-date inventory and purchasing. According to PayScale, some employers require candidates to have at least a master's degree. Logistics managers : Logistics managers oversee how goods and manufacturing parts are transported, and often decide how these materials are moved based on their company's financial limitations and available personnel. Their primary objective is to ensure maximum efficiency throughout the transportation process. While many logistics managers get hired with a bachelor's degree, experience related to shipping and receiving is often considered as well. Operations managers : Operations managers supervise various activities related to their company's production of goods. They often have a hand in purchasing, warehousing and manufacturing, as well as budgeting and ― in some cases ― setting goals related to sales and/or profits. Although a bachelor's degree is required for this role, PayScale says that having a master's degree often helps candidates land jobs. Purchasing managers : Purchasing managers are charged with approving projects, negotiating contracts and performing other tasks that align with their organization's budget. They also manage purchasing agents and may be asked to regularly meet with vendors and clients. Supply chain analysts : Supply chain analysts study their company's different stages of operation ― including acquisition, manufacturing and distribution ― in order to maximize efficiency and profits. This occupation is heavily concentrated in information technology, and analysts are expected to use SQL analysis tools to identify problems and potential solutions. Supply chain managers : Supply chain managers have three primary duties: promoting collaboration between sales and customer service teams, developing and implementing logistics-related policies, and keeping an up-to-date inventory that reflects current demands. Supply chain managers also keep in constant communication with all of their organization's suppliers and may also lead midlevel managers working within the supply chain. What do graduates make? An online master’s degree in supply chain management may help those in entry-level to midlevel positions advance to management roles. According to PayScale, median salaries for these degree-holders range from nearly $60,000 for supply chain analysts to more than $120,000 for directors of supply chain management.