Degree programs in supply chain management are growing in popularity. Because the business environment is constantly changing, the need for efficient supply chain management professionals grows with it. Take the coronavirus pandemic’s global effect on supply chains as an example. The rare event has caused many supply chains to implode mainly because of the reliance on single suppliers as opposed to having a backup logistical plan, should the first fail.
As a result, many businesses are now paying much closer attention to not only how effective their supply chains are in times of uncertainty, but they are also planning secondary and even tertiary logistics plans.
As the demand for supply chain management grows, so does the number of schools offering degrees in this field.
Degrees in supply chain management are growing in popularity for several reasons.
Changing Global Economy
The main reason why the market for supply chain management professionals is growing is the economy’s change and growth. Increased globalization and new technological advancements are driving the growth of this system across all industries, as businesses around the world look for new ways to enter markets, reduce their costs, and increase productivity. You will find that employers are more interested in hiring management professionals who can manage these changes and universities are thus, adapting.
While global businesses are experiencing growth, especially in the online world, so does the need for effective supply chain systems and people to manage them.
Developments in Technology
In a growing, $1.3 trillion industry, developments in technology to help facilitate the management of supply chains is also occurring at a rapid pace. With that, the need for professionals to develop and manage these technologies grow.
The SCM Globe supply chain simulator is a perfect example of software that was born out of the need to help businesses build better supply chains. But it also has its root in education. It can be used by educators and students alike to better learn how to improve and manage supply chains in real life.
The simulator is currently being used by many universities around the world who extend supply chain management degrees to their students and even those who offer supply chain management as part of their curriculum.
Advantages of Supply Chain Expertise
An advantage of such software is that they allow businesses to track changes to their production facilities, manufacturing processes, and distribution points as a whole, in real-time. With this software in particular, you can manage all supply chain drivers. Businesses that have access to this level of control are able to make more informed decisions that affect the overall cost efficiency and effectiveness of their operation. They can make changes to their processes, equipment, materials, or their distribution points at any given time, making the necessary adjustments to reduce the costs and improve their overall performance. as a result of any changes made.
In the competitive business environment of today’s world, business owners are taking the time to improve their supply chain management systems by implementing a strategy that focuses on the development of highly effective logistics systems. By taking full advantage of modern technology and ensuring that their company is equipped with the best tools available with the best people managing them, business owners will be able to take full advantage of the power of logistics and reduce the amount of time, money and resources required to run their business successfully.
The growing number of universities offering supply chain management as a major is the culprit for these businesses having the ability to hire such professionals.