A Master of Supply Chain Management degree will help you carve out a career in the ever-changing field of supply chain management across sectors. It is a specialized business master's degree designed for bachelor's graduates who wish to position themselves for long-term success in supply chain-related professions.
Master of Supply Chain Management programs graduates goes on to fascinating employment in various sectors and businesses such as Amazon, Philips, PwC, and Microsoft. So this one may be a good fit if you're looking at business master's programs.
Here, we explain all you need to know about the Master of Supply Chain Management program, including who it is for, what you can do with it, what graduates can expect to earn, and how to apply.
What is the purpose of a Master of Supply Chain Management?
Master of Supply Chain Management programs are often geared for pre-experienced and early-career professionals interested in pursuing a career in supply chain management.
According to GMAC research, most Masters of Supply Chain Management candidates (62 percent) are considering studying for the degree before entering the job. Men and women are equally interested in Master of Supply Chain Management programs, and the most frequent undergraduate degree candidates are held in a STEM discipline.
Types of supply chain management master's degrees
If you decide to pursue a Master in Supply Chain Management, you have two options for delivery:
Supply Chain Management Masters
Traditional one-year Master of Supply Chain Management programs is often administered on campus. You'll learn about logistics, procurement, risk management, supply chain strategy, and general management topics.
These programs frequently allow students to participate in study tours, internships, and on-site projects with local businesses.
Masters of Supply Chain Management Online
You may also pursue your Master of Supply Chain Management degree online. Although online programs cover the same fundamental curriculum, you will be required to do an additional individual study.
In addition, despite being delivered remotely, online programs allow students to participate in group projects, and some include a residential component.
USC Marshall School of Business offers a well-regarded Online Master of Supply Chain Management program. This option is intended for working professionals who desire to combine employment and education.
Master of Supply Chain Management course outline
What you can anticipate learning throughout a Master of Supply Chain Management program is as follows:
Business knowledge in general
Even though a Master of Supply Chain Management degree is specialized, you will be exposed to broad business knowledge to help you place supply networks in a more comprehensive perspective.
Some programs, such as Michigan Ross' supply chain, include a boot camps course for business basics, including business strategy, economics, financial accounting, and marketing.
A supply chain investigation
The majority of the Master of Supply Chain Management program will consist of supply chain-specific modules addressing subjects such as:
- global logistics management
- Supply chain risk management
- Procurement strategy
- Information technology in supply chain and logistics
- Project management
- Advanced production planning and scheduling
- Sustainable supply chains
Management and leadership
Management and leadership skills are essential in every field, and you'll study how to apply them to the supply chain function during your Master of Supply Chain Management program. Some programs include a leadership module, whilst others include leadership counseling throughout the curriculum.
Practical knowledge
You may also anticipate opportunities to apply what you study in a real-world environment during your Masters in Supply Chain Management through internships or projects. For example, students in the Master of Supply Chain Management program at Michigan Ross work on supply chain projects within real-world organizations.
Jobs for Master of Supply Chain Management
What can a Master of Supply Chain Management get you? In summary, you have a lot of potentials! Graduates find work in several fields, often in logistics, planning, and procurement.
Technology is a popular industry for Master of Supply Chain Management graduates, but other options include consulting and entrepreneurship, where graduates may apply their project management and collaboration abilities.
The Master of Supply Chain Management graduates' professional choices is as diverse as the alumni.
Michigan Ross graduates may be found at top firms worldwide, from technology to consumer packaged goods to the automobile sector." In addition, students have begun post-graduate careers in analytics, procurement, product or project management, and consulting.
The following roles are typically filled by graduates of the master's program in supply chain management:
- Logistics manager
- Logistics analyst
- Logistics planner
- Operations Manager
- Supply chain manager
- Supply chain analyst
- Project manager
- Consultant
Top Master of Supply Chain Management employers include:
- Amazon
- Microsoft
- Uber
- GM
- Nissan
- Wayfair
- Tesla
- Government
- NGOs
Increased job opportunities
During your Master of Supply Chain Management program, you'll have access to a career services team that can assist you in developing a career strategy and determining which post-graduation path is best for you.
Gianni Croes, a Master of Supply Chain Management student at RSM in the Netherlands, says the program offered employment prospects he had never imagined. He joined Beerwulf full-time as a logistics specialist after finishing a dissertation project with the at-home beer provider.
"Being able to perform a company-based thesis project was a fantastic approach to get familiar with the business world," he explains.
"I joined full-time at Beerwulf in July 2020, and I haven't looked back!" The MS in Supply Chain Management program graduates is in great demand today. According to Deloitte, a worldwide supply chain talent shortfall might result in 2.4 million vacant roles by 2028.
"We've seen how the COVID issue demonstrated to applicants how important supply chain management is in every element of modern life," says Nick Ellis, head of Master in Management programs at Durham University Business School.
Salary for a Master of Supply Chain Management
What can you expect to earn with a Master of Supply Chain Management? First, graduating from the program will offer you an advantage over earning an undergraduate degree alone.
Six months after graduation, MIP Politecnico di Milano's Master in Supply Chain Management graduates earn an average of US$59,200. Their contemporaries at RSM make comparable wages, with a typical graduation income of US$48,000.
Graduates of the University of Michigan Ross Master of Supply Chain Management program earn even more, with a typical base income of $94,000.
Your compensation will also be affected by your industry and job. For example, according to Glassdoor, logistics analyst professions in the United States pay roughly US$61k, while supply chain managers make an average of US$102k.
Top-level supply chain management positions can pay up to $150k. According to Salary.com, a supply chain director makes an average of US$153k in the United States, while a vice president of supply chain management may earn up to US$167k.
Cost and ROI of Master of Supply Chain Management
Tuition for Master of Supply Chain Management programs typically starts at about US$20,000. Tuition for RSM's program is roughly $19,000, whereas MIP is around USD 22,000.
Programs might be more expensive in the United Kingdom. For example, the Master in Operations, Project, and Supply Chain Management degree at Alliance Manchester Business School costs roughly US$32,000 for international students.
The Michigan Ross Master of Supply Chain Management Tuition is US$58,833, and the USC Marshall School of Business is US$63,000.
Conclusion
Masters in Supply Chain Management degree can provide a great foundation to build a successful career in the field. It offers specialized knowledge and skills that are increasingly in demand in today's dynamic and fast-paced business world. With the right drive and dedication, individuals with this degree can look forward to a bright future in the industry.
