What is the future scope for procurement, logistics, operations and supply chain management

What is the future scope for procurement, logistics, operations and supply chain management? Answer Wiki. Thanks for A2A. It is a very subjective question and requires lot of information to reach at any logical answers. I will try to cover the scope of SCM & Logistics masters from the perspective of Great/good/average programs and different types of masters, including the job offers after completion and entrepreneurship opportunities. Lets talk about different SCM programs: 1. MBA(Operations,SCM) - This program is more from management prospective rather than engineering involved in overall SCM. Assumption is that person pursuing this program has good amount of technical knowledge of SCM&Logistic processes and requires theoretical knowledge to take management decision to streamline or handle the overall SCM and logistics from management angle. Duration : Mostly 2 years. Some 1 year programs are also there. 2- MSc/MS/M.Eng in SCM - Involves greater engagement from engineering prospective. Includes all the details about the actual ground level process and technical calculation required in SCM processes. Duration: Both 1 and 2 years. 3-Phd in SCM&operations - Involves in-depth research with covering logic behind subject of research and thesis submission. Involves some teaching too. Duration: 3-5 years. 4-SCM Certifications: APICS, ISM, IOSM and other similar certification that involves study and exam. Duration: Flexible. If you are attending any of the above program from any top notch university, scope is tremendous. Now Finally it comes down to program. I have divided programs into Great/Good/Average depending on the reputation. 1-Great : Top programs like MIT(zlog,Mlog,M.Eng,Sloan MBA in operations), Rotterdam school of management (MSC), Purdue university(MBA) and other similar top notch programs have lot of opportunity and demand in market. Specially international supply chain roles. IIM A,B,C, ISB are offered these roles depending on there previous industry experience. Companies like Apple, Cummins, Amazon, walmart, Mckinsey, BCG, AT Kearney, Bain hire experts from these program and offer great entrepreneur opportunities and salaries. 2-Good : Top students of these programs get opportunity to work with top employers and get lower salaries than 'Great' but still works out pretty well as compared to other industry standard. Manufacturing firms, IT (SCM) firms and other industry players recruit people for there day-to-day supply chain operations and offer them good opportunity to scale. NITIE, SP Jain, IMT-G, Symbosis, KJ Som, IIT-B(MBA) etc in india offers good roles and entrepreneur opportunities. 3-Average : This program is always dicey and will not fetch you great roles but some of the top students may get opportunity to work in SCM field. Placement scenarios are not very good and lot of hard work and networking is required to reach at par with good category. At the end of the day its hardwork and luck that counts in placement. A good economy always offer great opportunities. Great/Good programs will give exposure to some of the amazing knowledge and industry people that can help in creating good career path in future. promoted by SEMrush. Related QuestionsMore Answers Below. There’s always a lot of speculation regarding careers in logistics and supply chain management as students know very little about it. Let’s get some facts straight and wash off the myths to get a clear picture about this field. Managers in this field are required to ensure that products and services reach the consumers who have asked for them. They manage all the operations related to the count and supply of the products that an organization deals in. Regardless of the size of any business organization, they all have logistics managers to keep track of the inventory and accounts receivable. Small organizations just need a single person to manage their logistics and supply chain whereas huge organizations have an entire department dedicated to that wing. It is an ever flourishing industry, therefore it always offers good job opportunities. It also plays an essential role in the economic growth and development of the nation. With the highly developed manufacturing sector of India logistics, supply chain management holds a lot of opportunities. Education Qualification Required: There is no specific career path that you can follow to become a logistics and supply chain manager. Many people start their career with an entry-level position and reach the managerial positions with greater responsibilities and better salaries. The basic requirement is a bachelors’ degree for any type of job into this industry. However, for a better position and good starting salary, you will have to pursue a Masters’ degree. It is preferable that you do MBA in logistics and supply chain management. So here are the qualifications you will require: A Bachelor’s degree preferably in business, accounts or finance Work experience in the industry for one or more years will improve your chances MBA in Logistics and Supply Chain Management/Masters Degree in business, accounts or finance for better opportunities. Problem-solving skills and analytical skills are a must for this Job profile. Candidates must have a good knowledge of administration, finances, organization, marketing, international business, statistics and conflict resolution. Candidates must also have good communication skills in order to be able to communicate with clients of different regions. Candidates must be good decision makers to get the organization to work correctly. Candidates must also be tech savvy so that they can adapt to the software used. Colleges that offer MBA in Logistics and Supply Chain Management: Job Prospects in Logistics Management: There are a lot of job opportunities in government as well as private sector in the field of logistics and supply chain management. Government sector in India offers a lot of job opportunities in this field in the manufacturing sector. Various MNCs also need managers in the same field to deal with their operations properly. Apart from this, there are other profiles as well which require experienced professions to manage the operations related to logistics and supply chain management. Since it is one of the fields that lead to economic growth, the probability of getting good salaries is high in this sector. promoted by Wing Delivery Marketplace. Future Scope for Logistics. The growth of logistics industry is directly related to the development of international trade flow and the current economic environment. Asia Pacific and North America appear to be the most attractive markets for logistics, particularly when it comes to contract service such as third-party logistics. Intra-regional trade in emerging markets is becoming important, especially in Asia Pacific, and this, combined with high GDP rates, is projected to continue boosting the logistics market. The usage of logistics services in different application such as manufacturing, retail, trade and transportation, government and public utilities, healthcare, media and entertainment, telecommunication, banking and financial services, and information technology is expected to rise considerably during the forecast period, which in turn, is estimated to strengthen the growth of the logistics market globally. The global logistics market, in terms of revenue, is set to expand from US$8.1 trillion in 2015 to US$15.5 trillion by 2023, registering a CAGR of 7.5% from 2015 to 2024. By volume, the market is expected to clock in a 6.0% CAGR from 2016 to 2024. Future Scope for Supply Chain Management Solutions. Supply chain management solutions play an important role in industries such as food & beverages, transportation & logistics, automotive, industrial, health care, electronics, aerospace & defense, etc. These industries require supply chain management solutions (software and services) for inventory management and operation flow. The transportation industry is large and includes an extensive variety of distinct industries such as shipping, railroads, and air services. The transportation and logistics industry in North America is extremely competitive. The global supply chain management solutions (software and services) market is expected to reach a value of US$ 32,908.2 Mn by 2026 on account of exponential growth in supply chain management solutions (software and services) modules. The market is projected to expand at a CAGR of 11.2% during the forecast period from 2018 to 2026. Global trade volumes have plateaued over the past 18 months, after decades of expanding twice as fast as GDP and driving economic growth. Supply chains were crucial to that trade expansion, as countries increasingly linked into the procurement, manufacturing and distribution networks that constitute the chains. Amid current stagnation, the question is where trade goes next. Public opinion on trade will matter, as will several major shifts in global supply chains. Diverging public support for trade. Europe is turning inward, despite the fact that 90% of global demand will come from outside the European Union in the next decade. In voting to leave the EU, British citizens rejected one of the strongest multi-nation, regional economic blocs. And European countries’ fragmented response to the migrant crisis bodes badly for EU plans for deeper integration and coordinated borders. In the United States, both Hillary Clinton and Donald Trump have taken strong stands against the Trans-Pacific Partnership (TPP ), a preferential free trade agreement binding twelve nations and 40% of global GDP. In contrast, Asian nations are embracing international trade. For them, the TPP is largely understood as an opportunity. China — not a TPP member — is working to create its own bloc, the Regional Comprehensive Economic Partnership (RCEP) as an alternative to the US-led pact. RCEP, composed of 16 countries, would be the world’s largest free-trade area, reducing barriers to trade in goods and services as well as investment. Meanwhile, the ASEAN Economic Community (AEC) is guiding the region towards a single market, envisioning the free flows of goods, services, labour, investments and capital across the 10 member states. And bilateral agreements proliferate. For example, earlier this year, Vietnam finalized a free trade agreement with the EU. On the multinational front, World Trade Organization (WTO) members are in the process of ratifying the Trade Facilitation Agreement (FTA) concluded at the 2013 Bali Ministerial Conference. The TFA should make international trade easier, quicker and less costly by removing red tape at borders, such as measures on the release and clearance of goods, and by enhancing cooperation between border agencies. According to WTO estimates, the TFA could cut worldwide trade costs by between 12.5% and 17.5% and create around 20 million jobs — the majority in developing countries. Trends in global supply chains. Amid this ongoing debate, the very nature of trade is changing owing to three distinct shifts in global supply chains: the “fast economy” is on the rise, new technologies are proliferating and e-commerce is expanding. Many sectors now prioritize speed to meet customer demand. Brands have adapted to a market for faster products. For example, Zara can design, manufacture and transport clothes to its stores in just two weeks . This model allows brands to avoid high inventory and costly bets, instead only producing more of what sells best. Since fast products require shorter and more regional supply chains, they involve less intercontinental trade. Technology is making supply chains more dynamic. Information technology, the internet of things, big data and the cloud enable new management processes that allow for longer and more complex supply chains. The Flex Pulse Centre is one example: it streams data on everything from inventories to quality checks to transportation and delivery statuses, allowing central and local teams to remain updated and prepared to address potential disruptions and risks. This global visibility helps companies to decentralize production and open up new factories and distribution centres across the world, which results in a mixture of short, medium and long distance shipments. Other technological innovations localize and shorten supply chains. 3D printing can move production from factories to shops and homes, and some companies are re-shoring and near-shoring to relocate manufacturing to where technology is most advanced and productivity highest. Both trends reduce cross border trade. Finally, e-commerce and the rise of digital supply chains may boost international trade. Amazon, eBay and Alibaba, among other e-commerce platforms, enable companies and consumers to buy things globally. They connect millions of manufacturers and billions of consumers, giving even the smallest seller and most distant buyer access to the global market. These connections require logistics and transportation networks that can support the growing number of cross-border transactions as well as regulation suitable to enable transnational e-commerce without jeopardizing sales. The English economist David Ricardo argued that combining international free trade with industry specialization around a country’s comparative strengths would produce widespread benefits. For this, trade’s slowdown is problematic. While in part due to converging capabilities (developing countries catching up with mature economies in terms of education, skills, infrastructure and logistics) the slowdown is more likely a result of digitization and suspicions among Western publics. But we might be unnecessarily worried: between 1980 and 1985 trade growth slowed dramatically, only to revive. Today, global production processes are evolving rapidly, and there is still room for deepening supply chains and trade links. The current slowdown represents more a shift than a permanent change. For more posts please see the blog of the Solar Digital company. If you like the comment, please upvote it!