The supply chain industry growing at a rapid pace, with organizations engaged in a hot debate on how to keep up with the growing demand for Supply chain professionals. The global disruption brought on by the Covid pandemic has been a turning point for the supply chain industry. It gave an incentive to students' interests in logistics and supply chains, sparking students' curiosity across the US about the movement of products from factories to stores and the intricate processes involved. While that is one impacting factor, the global supply chain industry is increasingly seeking new talent, challenged to meet the evolving logistics, operations and planning trends.
With innovative technological trends like data analytics and artificial intelligence reshaping the industry landscape, for a newcomer desiring to make an impact on the industry, now is the most dynamic and ideal time. This blog sheds light on the growing demand for skills and expertise in Logistics and Supply Chain Management and also outlines the manifold career opportunities available in the industry. This comprehensive information will help you steer into this career path and help you identify the compelling opportunities this growing industry has to offer.
Amplifying Demand in the Logistics and Supply Chain Industry: A Golden Era for New Talent
The CEO of the Institute of Supply Management (ISM), Tom Derry, pointed out the increasing trend of the supply chain profession becoming an attractive career path among young professionals as a pathway to C-suite roles. This growth momentum is poised to grow further as the supply chain analytics market is projected to grow almost triple from USD 5.2 billion in 2022 to USD 13.5 billion by 2027. At the global scale, the supply chain management application market is estimated to surge up to USD31 billion by 2026. As per the report of Fortune Business Insights, the global supply chain management market size in 2023 was valued at USD 23.58 billion and grew further up to USD 26.25 billion in 2024 to a whooping USD 63.77 billion by 2032.
Supply Chain Management can be defined as a process involving implementation, planning and controlling a business's supply chain to cater to customer requirements. It also encompasses a process of transforming raw materials into finished products and includes a trading partner community tasked with satisfying end customers. The global chain supply is largely impacted by several factors, causing escalated costs, supply chain bottlenecks and other disruptions. The influential factors include geopolitics, labour shortages and pandemic-related lockdowns. Organizations thus are developing new strategies like vertically integrated supply chains and shoring vendors, further resulting in market growth. Post-pandemic, companies across the globe are increasingly implementing IT software and digital technologies in their effort to streamline operations. The market growth witnessed is also supported by the surge in business digitization and swelling governmental policies in favour of the massive integration of digital technology.
Key Trends of the modern Logistics and Supply Chain Management
Swelling demand for Logistics and SCM Professionals: The global race of digitalization and globalization of trade and economy is one vital factor causing the demand for logistics and SCM professionals. It has become the top choice among business students with interests elevated post-pandemic.
Talent deficiency in the logistics sector: As technological integration increases, the talent pool manning the logistics sector is deficient in digital skills. The skills and talent shortage resulting from low-skilled professionals coupled with an ageing workforce and lack of generational turnover, has exacerbated the challenges that companies face to fill positions requiring specialized expertise in operations logistics and supply chain management.
Demand for specialized training and education in Logistics and supply chain management: Companies in the US as well as across the globe are increasingly supporting and demanding specialized programs in Logistics and SCM to bridge the talent gap. This has in return given rise to several education and training institutions pioneering specialized training and initiatives.
Evolution of professional profiles: Companies today are in demand for more specific skills in logistics and supply chain to meet the changing market trends. Unlike the traditional route of SCM professionals coming from Business branches with training in business process management, the new era professionals are required to be skilled in handling the transformed landscape characterised by increasing trade globalization and increasing transit of goods at the international level. This transition calls for specialized professionals, well-versed in addressing modern-day logistics and supply chain management.
Job market Explosion and career opportunities
The global economy is largely influenced by logistics and supply chain management. Pursuing a Postgraduate Diploma or an MBA in Logistics and Supply Chain can be a winning choice for upcoming business students. From familiarizing with the roles and responsibilities of Logistics and SCM professionals, students are exposed to an abundance of career opportunities across industries. Below are some of the most sought-after career opportunities:
Logistic Analyst/Manager: They make businesses more productive, profitable and cost-efficient
Supply Chain Analyst/Manager: They're responsible for examining the complete process of product development, from raw materials to finished products.
C-suite roles: With the supply chain becoming integral to the modern-day business models, providing businesses with ultimate competitive advantage, business leaders with specialized skills and expertise are highly demanded for the company's C-level executive teams. Chief Logistic Officers, Chief Supply Chain Officers, Chief Operating Officers, etc. are head-hunted by business giants including Apple, Nike, Target, Amazon, Bacardi, Walmart, FedEx, The Walt Disney Company, etc.
Facilities Manager: Their roles include facilities services, maintenance and security to cater to the needs of the company and employees.
Global Logistics Manager: Their roles are similar to Logistics Manager but with responsibilities on an international level, moving and managing products and operations across continents.
Procurement Manager: Expert in negotiating, this professional engages in researching, evaluating and purchasing products, services or materials for the company.
Storage and Distribution Manager: They are in charge of distribution centres or warehouses and supervise the storage and distribution operations
Warehouse Operations Manager: They oversee all the activities carried out within the facility from supervising employees, to product movement development and system storage.
Fleet Manager: They specialize in transportation logistics and supervise the transportation of products and people.
Conclusion
Logistics and SCM have risen as a thriving field where professionals can see tangible growth and results of their efforts. The industry's evolving nature and surge in demand means massive career opportunities.
