Getting Ready for Supply Chain Management 2.0: How an MBA Degree Can Ace Your Skill Sets As Well As Your Career
The pandemic hit the economy hard. Businesses laid off the staff, the travel and hospitality sectors were in partial hibernation, and the ability of individuals to work from home was put to the test.
It is expected that India’s supply chains will go through comprehensive transmutations in the next few years as the impact of COVID 19 will continue to test our demand and supply framework.
With widespread disruptions, supply chains were severely affected. With things getting routine again and the supply-side issues being addressed, we will initially observe demand contraction in various industry segments creating disorder.
Businesses need to start adapting to this new reality and consider strengthening supply chain resilience.
Supply Chain Management 2.0
The most notable change that could be witnessed is the rise of domestic sourcing to make supply chains more local. This ought to push the establishment of global value chains in India to serve domestic and export markets.
Every entity driving supply chains would need strict compliance, as the sanitisation protocols would be in place. This would create not only management but also insurance costs.
It is also evident that with the significant number of changes in supply chains, the digital transformation of the industry is going to be accelerated. The entire logistics process would be repurposed and digitised.
Amidst all such transformations that are about to occur, it is more likely that those out of work might see their skill set become outdated. Here, an MBA might reignite a career and help you stand out in the post-covid job market.
More than ever, supply chain firms and industries need reliable and competent leaders to navigate the turbulent waters in 2022 and beyond.
How Can an MBA in Supply Chain Management Help You Mark Your Way in the Job Market?
Digital savvy MBA graduates in SCM might be in high demand in the forthcoming years now. You wonder why?
Well, it all boils down to acquiring the most relevant skills related to your domain. As the challenge-facing organisations go through digital transformation, it will become inescapable for MBA students to think of digital strategies and disruptive business models to stand out in the job market.
Fueled by innovations in IT and digitization, government initiatives like Make in India and Digital India are already thrust into the logistics and supply chain management function.
Advancing Skills, Higher Remuneration
The Institute for Supply Management (ISM) conducted its annual Salary Survey in 2020, highlighting the average wage growth for supply management practitioners – dispensing a promising outlook for supply management professionals. Thus, it is essential to note that supply and demand basics are still becoming winning factors amongst massive transformations in the SCM market.
This implies that studying for your MBA in the niche specialisation of Supply Chain assists you to obtain the appropriate skills required to succeed in the industry and learn how to deliver effective solutions in real-world contexts.
The Final Word
You stand out after an MBA because you move from specialization to a point where you understand almost every mechanism that makes up a business.
Hence, specializing in the supply chain management domain as per the latest industry trends shall equip you with the skills to manage the complexities inherent in digital transformation.
Driving creativity and agility in your field is essential, and an MBA shall help you achieve the same.
You know that the current economic situation has already led to unemployment and redundancies. Therefore, now is the most suitable time to upscale your career and shape a new career path.
