There are many criteria that students must take into account when choosing their prospective MBA degree. Students must consider price, location, brand name, and specializations available. Each one of these factors can play a big role in their education experience, as well as their future job prospects.
The Master of Business Administration degree has become so large and diverse over the years. It is no longer just one degree but a bigger umbrella full of concentrations, specializations, majors, and certificates. These niches provide a focus on a particular business sector or specialty, which gives students more guidance and experience for their future careers. Students can pursue MBAs in Economics, Marketing, Analytics, HR, IT, Supply Chain Management, and the list goes on and on. Online MBA Today explores different specialization options in order to give students information on the field, the degrees, and the return on investment.
Let's explore the dynamic and growing field of Supply Chain Management.
Supply Chain Management
Supply Chain Management is the branch of management over the procurement, production, and distribution of products and goods, aka, the Supply Chain. This oversight is an expanded view of logistics, commonly accepted as the management of internal production and distribution channels, while supply chain management also includes suppliers for an organizations and then distribution channels into the hands of satisfied customers. A supply chain is the backbone of every retailer and wholesaler. It is the invisible thread tying a raw good to a finished product in the hands of consumers. The largest companies in the US and around the world have to deal with complex supply chains that span across the globe. From food and clothing, to electronics and oil, supply chains enable our everyday lives.
Supply Chain Management directly ties into other areas of business, including marketing, customer service, IT, logistics, and sustainability. Amazon grew from a small book retailer into a huge retail business with its roots in efficient supply chain. Their future supply chain management goals including exploring drone delivery for more remote locations in the world. Thus gaining a more effective and fast form of delivery. Apple recently pushed for more supply chain audits to increase their sustainable practices, which have played a part to divert "more than 73,000 metric tons of waste from landfills and saved more than 3.8 billion gallons of freshwater." The sector of supply chain management is growing by leaps and bounds. And with our ever-increasing fast and global market, large and small operations rely on supply chain effectiveness.
Online MBA in Supply Chain Management
An efficient supply chain can be the determining factor in the success of a business, because it directly correlates to profit and loss margins. This means, a knowledgeable supply chain manager is a crucial member of any management team. According to a recent survey, roughly 38% of the supply chain professionals had a master's degree. This means that in this growing field, there is a huge knowledge gab which gives an advantage to skilled professionals with an advanced degree in supply chain management.
An MBA program in supply chain management will provide students with a good business management foundation plus an extensive understanding of supply chain management. These focused courses include topics in sourcing, transportation industries, global supply chains, sustainability, and more. According to PayScale, a supply chain management MBA concentration came out as number 19 in a list of 38 concentrations for the highest salaries. What is interesting to note is that the average early career salary for professionals with a supply chain management concentration was reported at $72,700, over the average from the list by $10,000, and the mid-career salary at $115,000, which was $3,000 over the average from the list. Thus, not only is the the supply chain management field growing, but it is a field with a great return on investment.
Based on our latest ranking of Online MBA programs in Supply Chain Management, here are the top three programs in the country:
Northeastern University – D'Amore-McKim School of Business
Arizona State University – W.P. Carey School of Business
University of Nebraska-Lincoln – College of Business Administration
If you are a professional looking to enter in the growing field of supply chain management, you have the opportunity to increase your marketability and knowledge of the field while continuing with your current professional and personal commitments. An online MBA in Supply Chain Management combines the exceptional education with a flexible schedule. Explore the programs available and narrow down your top list. Next, plan out your schedule for application requirements and deadlines and start walking your path toward your future career.
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