Top 7 Reasons Why You Should Study Logistics and Supply Chain Management in 2021 – 2022
Previously, The Swiss Institute of Management and Innovation has shared some information about the Logistics and Supply Chain Management program with the intention to help you better understand the most potential study major in 2021-2022. In the previous article, we have introduced what Logistics and Supply Chain Management is, the necessary skills, and career opportunities. If you are still hesitant about whether or not you should study this, let us give you another 7 reasons why you should immediately apply for this promising field of study!
Why Logistics and Supply Chain Management?
Logistics professionals are important factors in the product lifecycle, meaning distribution, allocation, and delivery. We all need products, therefore, having a career in the logistics industry will bring you a sense of stability with a decent income.
What makes logistics and Supply Chain Management worth it?
According to the US Bureau of Labor Statistics, vacancies for logistics and supply chain management are expected to grow 30 percent in the next 10 years, which is much faster than the average for all occupations.
There are many job vacancies at this moment, therefore, graduates in logistics and supply chain management programs can always find jobs, whether it’s a part-time position, full-time, or internship. For instance, logistics specialists or supply chain managers positions are always needed in manufacturing companies since they are indispensable factors that ensure everything runs smoothly in the supply chain.
Moreover, freshly graduates always have the chance to be buyers or purchasing managers at large retail chains.
7 reasons to study Logistics and Supply Chain Management
1. Job growth
Logistics is an industry with a rapid rate of expansion and growth, even during recessions. Now, logistics and supply chain management are even more promising as the Bureau of Labor Statistics has predicted its job growth to increase to around 7% between 2016 and 2026.
2. A relatively low barrier to entry
Logistics offers professionals attractive job opportunities without the need for a high degree. While there are some positions that require a graduate education degree or other forms of advanced training, most employees working in logistics and supply chain management can find work even if they just earn a bachelor’s degree.
There are also jobs opportunities for those with only vocational degrees but in general, logisticians who want to advance in their careers are advised to pursue four years of post-secondary education
3. High salary
As of May 2017, the median annual salary for a logistics specialist in the United States was $74,590, or about $35.86 per hour. According to the Bureau of Labor Statistics, 10 percent earn less than $44,820 and 10 percent earn more than $120,000.
4. Opportunities for growth and promotion
While advanced degrees such as masters and doctorates may not be necessary to achieve success in the logistics industry, having a high academic degree will give you a higher chance of promotion and growth. There are many management jobs that require a high level of academic qualifications, but they require you to have experience and high education. Therefore, participating in Logistics and Supply Chain Management programs is extremely necessary.
5. Abundant internship opportunities
Although logistics is an attractive profession, many fourth-year students or recent graduates have had many doubts about finding a job right after graduation. However, when participating in the field of Logistics and Supply Chain Management, new graduates don’t have to worry too due to the demand for human resources, there are many companies willing to pay, even for interns, to create chances for them to succeed after completing the program.
6. Develop transferable skills
Transferable skills mean skills that give you the flexibility to work in different jobs and industries. Those skills may include forecasting, workflow optimization, financial planning, and management.
7. Job satisfaction
Although stable jobs and high salaries have attracted many individuals looking for opportunities in the supply chain management industry, professionals who have worked in the industry also share; one of the reasons why they continue work is the “job satisfaction” that it brings.
In a 2017 report compiled by the APICS – Supply Chain Management Research Association, millennials assessed that the logistics and supply chain management industry has full potential and prospects to help them develop skills and get advanced. The employees and professionals surveyed showed that they believe in their abilities as well as the personal growth opportunities that this profession offers.
Source: The Swiss Institute of Management and Innovation