MBA in Supply Chain Management- The growing relevance and need
Every sector needs an expert to carry out the operations smoothly. Without an expert vigilance, a project's efficiency gets affected and the outcome many not be up to the mark. Globally, every sector is choosing to hire trained professionals in various fields where their know-hows can be put to good use. One such sector is MBA in Supply Chain & Logistics. Understanding logistics, managing transportation and operations, and developing interpersonal skills and relationships are some key takeaways of this course. Thriving in a business world especially in a sector that's dynamic and enjoys an immense global outreach, is what MBA in Supply chain management & Logistics prepares you for.
According to the Indian Logistics Industry Outlook, 2020, the online freight platforms and aggregators are on the rise in the Indian logistics market, given the need for low entry barriers and less capital investment compared to setting up of an asset-based business model. Manufacturing in India holds the potential to contribute up to 25%-30% of the GDP by 2025 which will drive the growth of the warehousing segment in India. The logistics market in India is forecasted to grow at a CAGR of 10.5% between 2019 and 2025.
New age organisations like e-commerce, hospital, hospitality, aviation, shipping and more have added to the demand for trained and well qualified professionals.
Such positive projection needs an ample amount of trained and skilled labourers and professionals. Unfortunately, Indian logistics industry lags its global peers owing to several factors like, Lack of supporting infrastructure, skilled professionals, automated material handling systems, and high manual process interference.
Indian universities doing their best
To bridge the gap between demand and supply, many Indian universities have now started various courses in Supply Chain Management & Logistics. Besides MBA, programmes like Diploma in Logistics & Supply Chain Management and PGP is also being offered. Diploma and PGP remain a mode to fast-track the career while MBA is a two-year programme that imparts in-depth study of logistics industry, and teaches how to manage supply chains effectively.
MBA in Supply Chain Management & Logistics will train you in conceptual understanding of various ideas and methods in this sector. Your ability to implement Project Planning, Cost Efficiency and Optimisation Techniques will be enhanced. One will get a chance to build analytical aptitude, leadership and problem solving qualities. With end to end understanding of Logistics and Supply Chain Management in the industry, get equipped with requisite skills and gain a wider perspective.
One would also acquire knowledge in purchasing, materials management, supply-chain management, transportation, customs regulations, foreign exchange, international trade and information technology among other aspects. Emerging universities in India, not just emphasise on theoretical learning but render practical experiences as well for a clear and better understanding of students.
Needless to say, Indian universities are gradually getting better and with their global outlook, training professionals to be international leaders and not just a 'degree holder'.