Unknown Facts Regarding Supply Chain Management
If you are interested in pursuing a career in supply chain management, there are numerous opportunities available; however, if you are just starting out, you may not know where to begin. You can find rewarding professions as either an entry-level or executive-level professional, but it may take some time to determine how the industry operates and which opportunities best match your skills and interests. Here are five facts you probably didn’t know about supply chain management that will get you off on the right foot.
1) Working in SCM is an Exciting Profession!
The supply chain is a relatively young management discipline. As businesses seek to gain a competitive advantage by providing products and services more quickly, cheaply, and efficiently, supply chain management has evolved as a central subject. As SCM principles grow rapidly throughout the enterprise and global markets become more open, supply chain managers have ample opportunity. In fact, the U.S. Bureau of Labor Statistics projects a 28% increase in need for SCM specialists between 2008 and 2018!
2) An International Profession
Whether you plan to work in Canada, Europe, Asia, or even Africa, your supply chain management career will likely take you throughout the globe. As a result of globalisation and outsourced production lines, supply chain managers are playing an increasingly vital role in organisations of all sizes. Although some business travel may not be essential, it will likely be an integral aspect of any foreign trade-related position. In addition to good organisational and time management abilities, this frequently necessitates worldwide business and language proficiency.
3) There Are Great Individuals!
As a novice supply chain professional, it is simple to adopt a pessimistic outlook and fixate on your difficulties. We understand it! Instead of focusing on how difficult it is to break into supply chain management, consider the prospects for advancement within your current position. Relationships and advice gained might be equally as beneficial as monetary bonuses or other incentives. These are some of our favourite supply chain management features! Avoid missing out! Meet some wonderful individuals, both friends and mentors.
4) You Never Stop Learning New Things
Even if you believe you know everything there is to know about supply chain management, you are mistaken. SCM and global logistics are businesses that have undergone significant change over time, and it is uncommon for a supply chain manager to acquire all the necessary knowledge prior to assuming a new position. In fact, there are probably a multitude of factors that you have never considered or even heard of that are crucial to your success in SCM. If that doesn’t thrill you, consider that there are specific experiences and talents that others require at any given time to improve their professions.
5) Supply Chain Competition Is Extreme!
On today’s global market, there are thousands of enterprises operating, and many smaller ones are making waves. Companies are continually innovating new items and attempting to appeal to a diverse array of consumers. This enhances competition, as more supply chain managers attempt to deliver higher-quality goods at lower costs. In supply chain management, you cannot solely concentrate on one area; you must also monitor your immediate competitors and understand their tactics. And even if you aren’t competing with any other companies at your stage, you should still be aware of how things evolve as competitors expand or leave your industry.