Top online supply chain management degree and industry salary 2023/2024, Pursuing a degree in supply chain management will prepare you to oversee distribution processes from start to finish. Whether it’s coordinating the transportation of raw materials, securing competitive pricing, or managing a distribution center, a supply chain degree equips you to achieve your goals.
The courses in a supply chain management program introduce students to fundamental concepts in supply chain management, both domestically and internationally. Common topics include warehousing, transportation, and purchasing.
Supply chain management positions require data analysis, making classes on statistics and modeling essential. Additionally, students usually study business subjects like accounting, finance, and management.
Graduates with a supply chain management degree can find work as buyers, purchasing agents, logistics professionals, or supply chain managers.
Logistics & Transportation
A logistics and transportation degree focuses on one specific sector of the supply chain field. If you are interested in ensuring that materials and products reach their intended destinations efficiently, this degree might be the right choice.
Students in logistics and transportation programs learn about various transportation methods, including rail, truck, ship, and air transportation. The intricacies of international shipping are also covered.
Other areas of study include item storage, packaging, distribution oversight, logistics technology, and evaluating the financial impacts of transportation decisions.
Graduates can pursue careers as transportation or logistics managers, consultants, or analysts advising organizations on logistics.
Supply Chain Management Careers & Salaries
After graduating, you may start with entry-level supply chain and logistics jobs, such as an expediting clerk, purchasing agent, or buyers. With experience, you can progress to management positions, overseeing teams of employees.
Potential roles include purchasing, logistics, transportation, or warehousing managers. Additionally, you could be in charge of contracts, procurement, or inventory management.
Supply chain professionals find employment in various industries, including manufacturing, retail, wholesale, transportation, and government sectors. Some professionals oversee the movement of energy supplies or other critical infrastructure components.
According to the U.S. Bureau of Labor Statistics, the median salary for a logistician is $76,270 per year, with the highest salaries often in government and manufacturing positions.
Here are the median annual salaries for several supply chain management careers:
- Purchasing Manager: $125,940
- Production Manager: $108,790
- Logistics Manager: $96,390
- Business Consultant: $87,660
- Manufacturing Logistics Engineer: $77,840
- Business Operations Specialist: $77,420
- Logistics Analyst: $76,900
- Logistician: $76,270
- Buyer or Purchasing Agent: $66,690
- Expediting Clerk: $49,640
Your supply chain logistics salary will depend on the job, education, and experience. A graduate degree like an MBA in Logistics can increase your earning potential.
Choosing an Online Supply Chain Management Degree
When selecting a supply chain logistics program, consider the following factors:
- Accreditation: Look for regional accreditation, and consider programmatic certification from organizations like the Association to Advance Collegiate Schools of Business (AACSB).
- Degree and Concentrations: Some schools broadly focus on supply chain management, while others emphasize logistics and transportation, with specialization tracks like global supply chains or reverse logistics.
- Experiences: Look for programs with practicums, internships, or other field experiences.
- Format: Consider whether the program is on-campus, online, or hybrid, and check the schedule format.
- Length of Study: Traditional bachelor’s degrees usually take around four years, but accelerated online programs may be completed in one to three years.
- Tuition: Compare the cost per credit hour, additional fees, and financial aid packages.
Choose a school that aligns with your criteria, evaluate different programs, and narrow down your top choices. Apply to those schools and make your final decision after receiving acceptance letters.
Supply Chain Management Curriculum & Courses
A logistics and supply chain management degree typically covers materials management, product distribution, and business foundations. Here are the standard courses in this degree:
- Accounting: Prepare to keep accurate records and interpret financial reports.
- Financial Considerations in Supply Chain Management: Discuss the role of transportation decisions in organizational health.
- Global Supply Chain: Learn about international laws and customs regulations for moving goods across borders.
- Introduction to Supply Chain Management: Understand various aspects of the supply chain and their interactions.
- Logistics Systems: Work with digital tools used by logisticians to improve quality and efficiency.
- Modeling and Statistics: Analyze past trends and make future predictions with data analysis skills.
- Purchasing and Inventory: Study negotiation with suppliers, contract management, and inventory tracking.
- Quality Control: Ensure products meet quality standards and manage supply chain processes efficiently.
- Transportation Methods: Cover different transportation methods and logistics of combining them along a supply chain.
- Warehousing: Maximize storage setup to improve company quality and efficiency.
Additionally, schools may offer electives to prepare students for specific industries within the supply chain.
To gain admission to a supply chain and logistics program, you’ll need to submit several components, including:
- Essay: Answer an essay question to showcase your goals and personality.
- References: High school teachers or supervisors from professional or volunteer work letters highlighting your strengths.
- Test Scores: Results of ACT or SAT exams may be required.
- Transcripts: High school academic records showing college-prep classes and grades.
Contact the admissions staff for assistance if you have questions about a college’s requirements.
Schools that excel in educating students receive regional accreditation from one of the seven regional accreditors approved by the Council for Higher Education Accreditation (CHEA), such as the Higher Learning Commission or the Southern Association of Colleges and Schools Commission on Colleges.
Regionally accredited colleges are more reputable, and employers and other schools are more likely to trust your degree from an accredited institution. Federal financial aid can only be used at accredited schools.
Supply Chain Management Professional Organizations
Joining a professional association in the supply chain field can enhance your knowledge and network. Some organizations to consider include:
- American Production and Inventory Control Society: Offers certification programs for supply chain professionals.
- Association for Supply Chain Management: Provides seminars, online courses, certification discounts, digital tools, and publications.
- Council of Supply Chain Management Professionals: Provides mentoring programs, magazines, continuing education, job search tools, and other resources.
- Institute for Supply Management: Offers free continuing education classes, magazine subscriptions, online tools, and professional events.
- International Warehouse Logistics Association: Provides resources and special interest groups for warehousing professionals.
- Material Handling Industry of America: Offers market insights, publications, online tools, and networking opportunities.
Before joining, check if student membership rates are available.
Financial Aid & Scholarships
College expenses can be reduced with financial assistance. Government aid comes in the form of grants and loans. Scholarships, ranging from a few hundred to several thousand dollars, can significantly lower costs. Top candidates often possess good grades, personal achievements, leadership experience, or volunteer service.
Private loans might be an option if you need additional funding beyond government aid and scholarships, though they may have higher interest rates. Some employers offer tuition assistance programs for employees.
Consult the Federal Student Aid website or your school’s financial aid department to explore your options for college assistance.
How Much Can You Make With a Supply Chain Management Degree?
Salaries in supply chain management can vary depending on the position. For example:
- Entry-level expediting clerk: Around $49,640 per year.
- Purchasing managers: Median salary of $125,940 annually.
- Logisticians: Median salary of $76,270 per year.
Earnings will depend on job title, experience level, and location.
How Long Does Getting a Bachelor’s Degree in Supply Chain Management Take?
Most bachelor’s degree programs require around 120 credit hours, typically taking four years to complete. Accelerated online programs may be finished in one to three years.
What Is the Average Supply Chain Management Degree Salary?
According to the Center on Education and the Workforce, individuals with bachelor’s degrees in operations logistics earn a median annual salary of $71,000, with higher earnings for those above the 75th percentile.
Is a Supply Chain Degree Worth It?
A supply chain degree can be an excellent choice if you’re passionate about improving business operations through efficient materials and goods movement. It can help you secure good starting positions and advance to management roles in the field.Top online supply chain management degree and industry salary 2023/2024